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How Much Does Credit Affect Your Homeowners Insurance Rate?

It’s no secret that credit scores are a huge factor when buying a new home, because your credit score affects the interest rate you get on your mortgage. Given the size of home loans, a few points on your credit score can mean a higher rate, which in turn adds up to thousands of dollars over the life of the loan.

So where should you begin?

The first step is understanding how credit works. WalletHub.com has an excellent article on credit scores and how the scale is calculated. You can view that information here to get a good foundation of how credit works.

Mortgages are not the only expense associated with buying a new home. Pretty much everyone takes out homeowners insurance, which can add nearly $100 or so to your monthly payments. And yes, you can be charged more in insurance premiums if you have a subpar credit score (here’s an explanation of what qualifies as a “good” credit score).

Across the U.S., a homeowner might pay 32% more in annual homeowners insurance premiums if they have fair credit, as opposed to excellent credit, according to a survey from InsuranceQuotes.com. If you have poor credit, your homeowner’s insurance can cost twice as much as it would if you had excellent credit. Most states allow insurance underwriters to consider credit history when determining home insurance premiums, though California, Maryland and Massachusetts do not. In 38 states, plus Washington, D.C., people with poor credit pay, on average, twice as much for homeowners insurance as they would if they had excellent credit.

“It’s hard to fathom that bad credit would justify such steep rates on homeowners insurance, but it often is a factor and clearly can be an important one,” said Gerri Detweiler, Credit.com’s director of consumer education. “When I bought my current home a number of years ago I was told I didn’t get the largest discount for my homeowner’s insurance due to my credit score, even though I had very little debt and a clean payment history. So I can relate to homeowners who are really frustrated by this practice.”

Insurance underwriters generally use credit-based insurance scores, according to the report from InsuranceQuotes.com, and those scores are based on credit report data like outstanding debt, length of credit history, late payments, collection accounts, bankruptcy and credit applications.

There are many expenses that come with being a homeowner, so anything you can do to keep the costs down will likely add up to a lot of savings in the long run. If you didn’t get the lowest rates, consider asking your insurer to reassess your premium after you’ve had time to improve your credit after buying a home. You could also shop around for a new policy as a money-saving tactic, because underwriting practices vary by insurer.

 

8 Things Your Homeowners Insurance Doesn’t Cover (That You Probably Thought It Did)

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How to Save Money on Auto Insurance For Teens

So you’ve got a newly licensed driver in the house and you’re bracing for the sticker shock that comes with adding them to your auto insurance policy. The statistics say the risk of crash per mile driven is thee times higher for 16-19 year olds than for drivers age 65-69. But there are some things you can do to save money on insurance rates for teen drivers.

Make the grade.
Many insurers offer a discount as high as 25%, for students who maintain at least a B average. Make good grades a condition of driving so your teen understands their role in insurance.

Keep them on your policy.
It’s usually cheaper to add a teenager to your policy, rather than get them their own policy. Parents need to inform their insurance agent or company that their teenager is being added to the policy. Don’t try to conceal them from your insurance company, that can carry severe penalties and potentially impact your coverage in the even of an accident.

Get some experience.
A formal driver’s training course will probably save on insurance. Many companies offer up to a 10% discount for completing one.

Play stupid games, win stupid prizes.
Traffic crashes, tickets and DUI/DWI’s are bad enough for adults, for a teen driver it can be a dealbreaker. Insurance companies are already nervous about insuring teens, getting into accidents or ticketed may get you dropped altogether. Talk to your teen about the consequences and be sure they understand the impact, not just for safety reasons but for your pocketbook also.

Drive car the insurance company likes.
Cars that are considered “high performance”, cost a lot to repair or are a favorite target to thieves will cost you more for a teen to drive. Consider getting a quote on what it will cost for your teen to drive it before you buy them a new car.

Safety features save lives and money.
Don’t assume the old clunker your parents made you drive is the best idea. Newer cars with safety features get discounts that add up when adding a teen driver.

Shop around.
Rates can vary by hundreds of dollars when it comes to teen drivers, some companies have a better appetite for them than others. If you can afford it, get a higher deductible.

Insurance safety programs.
Some insurance companies such as SAFECO offer technology to help parents track teen driver behavior such as GPS to record where a car is driven and how fast. American Family partners with a company that installs in-vehicle cameras to monitor driver behavior.

At Get Insured Quick we specialize in searching dozens of carriers to find you the absolute lowest rate on insurance for your teen driver. Hit the get quote button to find out how much we can save you today.

Click the button to get a quote in minutes

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Is FEMA Really Hiring ‘Field Inspectors’ for Hurricane Harvey and Paying Them Thousands Per Week?

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Our thoughts and prayers are with all of our friends, family and clients affected by the terrible devastation from Hurricane Harvey.

With any natural disaster there is always a lot of rumor and misinformation out there. As a agency that writes flood insurance, we’ve been asked about the truth to the rumor that FEMA is hiring home inspectors to work the damage related to Hurricane Harvey.

We’re happy to report the answer appears to be “Yes”. Here’s what we’ve found out from our research.

FEMA’s website indicates that there are two contractors that handle hiring home inspectors for FEMA. They are Vanguard EM and PB Disaster Services.

Now for the bad news, it does not appear that the position pays “between $2,000 and $5,000 per week” as has been reported. Per Vanguard EM’s website:

“Novice Inspectors (0- 500 inspections) are paid $35 per inspection, intermediate inspectors (501-2500 verified inspections) are paid $39 per inspection, Advanced (2501+ verified inspections) are paid $45 per inspection. All inspectors are reimbursed for allowable field expenses (rental cars, airfare, lodging, mileage if not using rental car) and will receive the GSA per diem rate daily while deployed.”

Vanguard EM describes the job duties as such:

Role of a Disaster Housing Inspector:

  • You will verify ownership and occupancy of damaged homes
  • You will record damages of the interior and exterior of damaged dwellings
  • You will specifically list all disaster related losses; and photograph damaged property
  • You will supply at your own expense needed items such as
    • Tools (standard tape measure, rolling tape measure, clip board, notecards)
    • Safety clothing and/or equipment (safety Glasses, safety boots)
  • You should expect to work 7 days a week during a deployment, often longer than 10 hours a day
  • Novice inspector, once trained, can expect to be able to complete a minimum of 6 inspections per day
  • You will schedule and organize appointments
  • You will communicate Inspections using your government issued tablet
  • You will submit your electronic expense reports throughout weekly
  • Your inspections will undergo Quality Control reviews, and if you are found to have multiple Contractor or FEMA Corrections, you will be expected to go through corrective action
  • Novice Inspectors (0- 500 inspections) are paid $35 per inspection, intermediate inspectors (501-2500 verified inspections) are paid $39 per inspection, Advanced (2501+ verified inspections) are paid $45 per inspection. All inspectors are reimbursed for allowable field expenses (rental cars, airfare, lodging, mileage if not using rental car) and will receive the GSA per diem rate daily while deployed.

All Interested Persons:

  • Must be a U.S. Citizen
  • Must register on our Inspector Portal
  • Complete and pass the required “e-QIP” background process
  • Complete the required on-line training modules in our Vanguard EM University
  • Attend an in-person ACE 4 training (mock inspection)
  • Update your availability status on the Inspector Portal
  • Stay connected (Facebook, LinkedIn, assigned mentor, keep all information up to date)

It is not clear from the websites how long the background screening and interview process takes before deployment, but this appears to be a good opportunity for people who are needing work, especially if they have suffered job loss due to Harvey.

Please note that we are not affiliated with FEMA nor are we a hiring agency for these positions, we are only offering this information as a service to those interested in these positions. Our phone lines are jammed at this time with customers needing help, if you would like to speak with us the best way to reach us is by Facebook Messenger at the button below

Contact us on Facebook Messenger

 

Click here to request a business or personal lines insurance quote

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How Much Does Your Credit Affect Your Homeowner’s Insurance Rate?

It’s no secret that credit scores are a huge factor when buying a new home, because your credit score affects the interest rate you get on your mortgage. Given the size of home loans, a few points on your credit score can mean a higher rate, which in turn adds up to thousands of dollars over the life of the loan.

Mortgages are not the only expense associated with buying a new home. Pretty much everyone takes out homeowners insurance, which can add nearly $100 or so to your monthly payments. And yes, you can be charged more in insurance premiums if you have a subpar credit score (here’s an explanation of what qualifies as a “good” credit score).

Across the U.S., a homeowner might pay 32% more in annual homeowners insurance premiums if they have fair credit, as opposed to excellent credit, according to a survey from InsuranceQuotes.com. If you have poor credit, your homeowner’s insurance can cost twice as much as it would if you had excellent credit. Most states allow insurance underwriters to consider credit history when determining home insurance premiums, though California, Maryland and Massachusetts do not. In 38 states, plus Washington, D.C., people with poor credit pay, on average, twice as much for homeowners insurance as they would if they had excellent credit.

“It’s hard to fathom that bad credit would justify such steep rates on homeowners insurance, but it often is a factor and clearly can be an important one,” said Gerri Detweiler, Credit.com’s director of consumer education. “When I bought my current home a number of years ago I was told I didn’t get the largest discount for my homeowner’s insurance due to my credit score, even though I had very little debt and a clean payment history. So I can relate to homeowners who are really frustrated by this practice.”

Insurance underwriters generally use credit-based insurance scores, according to the report from InsuranceQuotes.com, and those scores are based on credit report data like outstanding debt, length of credit history, late payments, collection accounts, bankruptcy and credit applications.

There are many expenses that come with being a homeowner, so anything you can do to keep the costs down will likely add up to a lot of savings in the long run. If you didn’t get the lowest rates, consider asking your insurer to reassess your premium after you’ve had time to improve your credit after buying a home. You could also shop around for a new policy as a money-saving tactic, because underwriting practices vary by insurer.

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Understanding Texas Contractor’s Insurance

If you are a contractor, you know you need insurance for your business, but exactly what kind of insurance do you need? Get Insured Quick is an independent insurance agency that helps contractors throughout the state of Texas get the right coverage at an affordable price to protect their business, customers and employees. We made this video to help explain what constitutes Contractor’s Insurance so you can make the right choice for your business.

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12 Insurance Terms All Small Business Owners Should Know

Buying business insurance can be complicated, but it doesn’t have to be. If you’re looking to learn more, you’re already ahead of some of your peers. According to the 2015 DNA of an Entrepreneur Report, 1 out of 5 entrepreneurs don’t know if they’re insured against the most common small business risks. Here are some terms that will help you understand what you’re getting when you’re shopping for your next policy.

1. Business insurance quotes
When shopping for business insurance, ask several insurers for a price quote. Make sure the policies you’re comparing include the same coverage, coverage limits and deductibles. Don’t pay for coverage you don’t need.

2. General liability insurance
General liability insurance covers bodily injury and property damage to third parties. For example, if a client comes to your office and slips and falls, your general liability policy should cover the costs associated with their injuries, including medical costs and lost wages. Likewise, if you are at a client site and damage a piece of their equipment, the cost to repair or replace the item should be covered by your general liability policy.

3. Professional liability insurance
Sometimes called errors and omissions, or E&O insurance, professional liability insurance covers you if the professional services you provide are done incorrectly. This can include negligence, copyright or trademark infringement and libel or slander. Professional liability insurance should cover the cost to defend yourself, even if you did nothing wrong. Make sure your professional liability insurance covers the risks you face in your specific type of business.

4. Business owner insurance
A business owner policy covers the equipment you need to do your work. If you are a photographer, for example, a business owner policy would cover your cameras, developing or printing equipment and computers. This type of policy often includes business interruption coverage, which pays you for the revenue you lose if your equipment is stolen or damaged, until it can be replaced.

5. Deductible
The deductible is the amount of money you have to pay before your insurance covers the rest. If you have a claim for $10,000, for example, and your deductible is $1,000, you are responsible for the first $1,000 and the insurance company will pay the remaining $9,000. The higher the deductible, the lower the premium, since you are taking on more of the risk. When determining what your deductible should be, think about the amount of money you could afford to pay without putting your business at risk.

6. Claim
When someone feels your business made an error or they have been injured by you, they will make a claim for damages. A claim begins the process of negotiation between the injured party and you, or your insurance company, if you are covered. If the insurer determines that the claim is valid and covered, they will negotiate a settlement on your behalf according to your policy.

7. Lawsuit
If an incident is not resolved to the satisfaction of the parties, the injured party can file a lawsuit. This could lead to the parties negotiating a settlement, agreeing to arbitration, or possibly going to court.

8. Endorsement
An endorsement, sometimes called a rider, is an attachment to an insurance policy that modifies the policy’s terms and conditions. If your business has particular risks, make sure your policy has the appropriate endorsements.

9. Certificate of insurance
Certificate of insurance, sometimes called a ‘cert’ is proof that you have insurance for your business. The cert shows what type of insurance you have, the limits and deductibles, the name of the insured, the name of the issuer and the effective dates of your policy.

10. ACORD certificate
An ACORD certificate is a standard type of certificate of insurance governed by the Association for Cooperative Operations Research and Development (ACORD). Some clients may request this type of certificate for the sake of consistency. You can ask vendors, contractors and subcontractors for their ACORD certificates, too, to make sure that they have the proper insurance.

11. Primary policy
This is the first policy to respond to a loss of claim. If there are secondary policies, those would respond if the limits on the primary are reached and there is additional exposure.

12. Waiver of subrogation
A waiver of subrogation is something your clients may ask you for. It says that if you and the client are named in a lawsuit and your insurance company pays the judgement, your insurance company cannot then try to recover part of the judgement from your client.

Knowing these business insurance terms can help you get the insurance coverage you need to protect your business.

Source: 12 Insurance Terms All Small Business Owners Should Know – Small Business Blog | HiscoxSmall Business Blog | Hiscox

The Easiest Way to Save Your Business $34,000 This Spring

According to Ready.gov, the average flood claim within the past ten years was nearly $34,000. Now that spring is here – along with the melting snow, pouring rain, and rising rivers – floods may be a real risk for your business. A $34,000 risk. And if you don’t feel like taking that gamble, it’s time to make a plan.

A plan won’t stop a flood from happening, but it can help you minimize losses if your business is affected. And the more prepared you, the quicker your business can bounce back.

So let’s find out:

  • What you should include in a flood preparedness plan.
  • How Commercial Property Insurance applies to water damage.
  • Why floods can happen anywhere to anyone.

How Small-Business Owners Can Prep for a Flood

“Whether located in a flood zone or not, business owners should prepare for all types of disasters by having a plan in place before anything happens,” says Tom Head, president of cleaning and restoration company Blackmon Mooring and BMS CAT (@BlackmonMooring).

Indeed, it does you no good if you don’t think about flooding until you’re literally knee-deep in it. So take some time now to prepare yourself and your business for a flood. For example, your plan might outline how to:

  • Secure and prevent the release of dangerous chemicals stored on your property.
  • Shut off the main gas line and electricity to your building.
  • Alert employees about evacuation or business closure.
  • Elevate electrical items, inventory, and furniture to higher floors/surfaces.
  • Postpone deliveries and services to and from your business

For a more comprehensive list of considerations, check out this flood preparedness checklist from PrepareMyBusiness.org.

You might also want to improve structural aspects to your building to prevent flood damage. Inspect your basement and surrounding property for points where water may build up or enter, and look into dry flood-proofing and see if it’s financially feasible for your building and location.

As for after the flooding, it’s absolutely key that you have plans to act fast and minimize the damage. Letting water sit in your building can do more harm than the initial flooding event, leading to structural weakening, water damage, and mold growth. To limit damage, you might want to have a restoration company’s contact information on hand.

“It is important to contract with a restoration company to pre-plan and eliminate red tape,” says Tom Head. “That allows you to define the exact services you need and to expedite response times when a loss occurs.” If you want to see how the restoration process works, see Blackmon Mooring’s resource on water damage restoration.

Does Your Commercial Property Insurance Cover Flood Damage?

Most standard Property Insurance policies don’t cover flood damage because it’s an unpredictable and costly risk. Unless you specifically asked for flood insurance, chances are your policy doesn’t offer it.

When buying small business insurance, check to see what flood coverage options are available. Some carriers may provide it and some won’t. You might also want to look into the National Flood Insurance Program (NFIP) for additional information.

With flood insurance, your policy may cover…

  • Repairs and restoration to your building.
  • Repairs and restoration to your equipment, inventory, and other property.

Reminder: Floods Can Happen Anywhere

If your business is located at the top of a mountain, you probably don’t need to worry about flooding (but avalanches, landslides, and bears are another thing). Otherwise, pretty much everyone is at some risk of being in a flood. You should consider…

  • Whether you’re near a body of water (lake, stream, river, or coastline).
  • Whether you’re in a 100-year or 500-year flood zone.
  • Whether flash flooding occurs in your area.

According to the Insurance Institute for Business & Home Safety, proximity to bodies of water is the number one risk factor for flooding. Heavy rains, melting snow packs, and storm surges can raise water levels and submerge the surrounding area.

The NFIP maps out and defines some flood zones and gives some insight into the area’s risk:

  • A 100-year flood plain has a one percent chance of flooding in any given year.
  • A 500-year flood plain has a 0.2 percent chance of flooding in any year.

However, keep in mind that nature doesn’t play by the numbers all the time and the boundaries of these areas are often somewhat arbitrary.

Lastly, practically any area can be subject to flash flooding. Slow moving thunderstorms or heavy rainfall can dump water more quickly than the ground can absorb, leading to rapid flooding conditions. So even if you’ve set up shop in the middle of the desert, all it takes is one big storm to bring a flood to your doorstep. Be prepared so you can keep your business above water – literally and figuratively.

Source: The Easiest Way to Save Your Business $34,000 This Spring

Fire Causes 1 in 10 Small Business Insurance Claims. How Safe Are You?

Last year, small business insurance carrier The Hartford published a study ranking the top 10 claims it processed by frequency and cost. Perhaps unsurprisingly, fire was at the top of both lists, clocking in at number three for most expensive and number four for most frequent. That’s a lot of fire.

While fire remains one of the more destructive forces small businesses have to deal with, the good news is that standard Commercial Property Insurance policies usually cover damages caused by fire. Read on for tips on minimizing your odds of damage and maximizing your odds of recovery in the event of a worst-case scenario.

Small Business Insurance Policies for Dealing with Fire Damage

To prepare your business to weather a fire damage claim, consider these three small business insurance policies:

  1. Commercial Property Insurance: Following a fire in your place of business, a Commercial Property policy can help pay for replacing or repairing your equipment, supplies, and the building itself. This coverage is typically budget-friendly because it’s available at different levels: you can insure your business at its replacement value (what it would cost to replace everything with brand-new items) or its actual cash value (what it would cost to replace everything with used equivalents to what you have now).
  2. Business Owner’s Policy: For the truly budget-conscious, the Business Owner’s Policy (or BOP) offers further savings on Property Insurance by bundling it with General Liability Insurance. These two policies are more or less essential for any small business, and a BOP is usually the most cost-effective way to purchase them. BOPs aren’t available to everyone (they’re partly based on risk exposure), but be sure to ask your agent about whether you qualify.
  3. Business Interruption Insurance: This gem of a policy is available as a rider to a Commercial Property Insurance policy. In the event of a fire (or other covered property event) that forces you to completely shut your doors, it can offer payments to cover rent at a new location, salaries for your employees while you’re unable to operate, and other ongoing expenses: taxes, loan payments, and more. Think of it as a bridge policy: its benefits can keep you above water between the time the fire happens and the time you’re able to rebuild and reopen.

Reducing the Risk of Fire Damage at Your Business

While certain behaviors or circumstances increase a business’s risk of fire damage, fires can affect anyone. Shorted electricity and lightning strikes, for example, can happen no matter what kind of business you operate. Luckily, there are some preventive measures anyone can take to minimize the chances of fire damage:

  1. Make sure your fire extinguishers are regularly inspected and maintained according to local fire code.
  2. Train employees in proper use of fire extinguishers.
  3. If you own a restaurant, make sure you have a UL 300-compliant wet chemical fire suppression system and follow the NFPA 96 standard for ventilation and fire protection.
  4. Keep commercial cooking and manufacturing equipment clean. This may mean hiring a third-party cleaning contractor to make sure it doesn’t get put off indefinitely.
  5. Ban risky electrical appliances (like space heaters) and keep others (coffeemakers, toasters, etc.) away from paper piles and other flammables.
  6. Always maintain two exits. Keep emergency exit doors open and accessible.
  7. If you’re in a part of the country where wildfires happen, trim brush and trees near your building.

For more information on how to keep your business safe from fires of all kinds, follow the National Fire Protection Association on Twitter (@NFPA) and check out its online safety tip sheets. If you’re in the western part of the country, you may also want to check out Protect Your Home, Property & Forest from Wildfire, a guide published by Colorado State University.

This post is part of a series about the cost of small business insurance claims. Check back for more tips on minimizing your business risks!

 

Source: Fire Causes 1 in 10 Small Business Insurance Claims. How Safe Are You?

The 7 People in Your Life Who Need Small Business Liability Insurance

If you look close enough, you’ll spot risks anywhere. Try it: look up from your screen and scan your location. Perhaps you’re in a coffee shop (where coffee burns are bona fide lawsuit makers). Maybe you’re looking out your home office window at the freezing rain (which can make your porch steps slick and cause visitors to fall).

When you look at the world this way, everything’s an adventure! But it also primes you for the kind of cause-and-effect thinking that can lead to stellar risk management.

Let’s take a roll call of people in your life who are small-business owners and see why their risks require some degree of small business liability insurance.

1. You

If you’re in business for yourself (even if you just freelance on the side!), you’re a small-business owner. And with that designation comes risk.

Your risk: No matter your line of business, any time you interact with the public, you accept certain responsibilities. As a business owner, you have a duty to make publicly accessible spaces safe. If someone visits your office and gets hurt, your business is on the hook for that injury (and its subsequent medical expenses).

Small business insurance solution: General Liability Insurance is the go-to starter policy. It can cover legal expenses when you’re sued over third-party bodily injuries or property damage. It can also address advertising injuries, such as when you spout off about a competitor on Twitter (and said competitor sues you for libel).

2. Contractors & Subcontractors

Sooner or later, you’re going to get more work than you can handle. When that happens, you may outsource some duties to contractors and their subcontractors.

Their risk: Your contractors are small-business owners, too, which means they’re responsible for the harm their work may cause.

Small business insurance solution: If they do professional work on behalf of your business, contractors should have their own Professional Liability Insurance to account for mistakes or unfulfilled contractual obligations. Check your contractor’s certificate of liability insurance to ensure they have their own coverage.

3. Folks Who Work on Your Home or Office

The gal you call to give your office a fresh coat of paint? She’s a small-business owner. The plumber who fixes your leaky faucet may be, too. Ditto for the folks who mow your lawn or clean your house.

Their risk: Property damage and completed operations are the big risks here. For example, if the painter knocks over an expensive vase while painting, you could hold her accountable for the replacement price. And if the plumber fixes the faucet but his repair causes subsequent leaks, you can hold him liable for the damage.

Small business insurance solution: General Liability Insurance can address both of these risks.

4. The Etsy Seller Who Made Your Earrings

We see you rocking those handmade jewels. But if the seller mislabeled those earrings as sterling silver when they are actually made of nickel that irritates your skin, they could be on the hook for damages.

Their risk: When someone sells products, the sale implies that the product is safe for consumer use. If that’s not the case, they can be held liable for physical harm the product causes.

Small business insurance solution: Product Liability Insurance (typically part of a General Liability policy) can cover legal expenses if the seller is sued over selling defective items.

5. The Tax Man

The person who does your taxes is probably your favorite person every April. But their expertise makes them a prime target for lawsuits.

Their risk: If your tax preparer or accountant makes a miscalculation that gets you audited, they can be sued over falling short of standard expectations for their professional work.

Small business insurance solution: Errors & Omissions Insurance is every professional’s right-hand policy. It can cover legal expenses for lawsuits over missed deadlines, work errors, and bad advice.

6. Your Dog Walker

You wouldn’t trust Fido’s care to just anyone. And chances are your dog walker has proven their professionalism by taking excellent care of your pooch and by being insured. (Learn more about how insurance demonstrates credibility in “Why Clients Want You to Have an E&O Policy.”)

Their risk: Some animals have a remarkable talent for causing trouble. If Fido runs off and gets hurt on your walker’s watch, she may have to shell out for his vet bills.

Small business insurance solution: Unfortunately, pets are considered property in most states, so General Liability applies here. In this case, the damaged property is Fido, and if the sitter is responsible for causing his injury, her GL policy can help pay for the vet expenses.

7. The Owner of Your Favorite Local Coffee Shop

You wouldn’t dream of buying your daily red eye anywhere else. But as we hinted earlier, a lot can go wrong for the owner of your go-to coffee shop.

Their risk: The milk steamer can burn employees. Too-hot coffee can burn customers. Spilled coffee can cause slip-and-fall accidents. Suffice it to say, liabilities are alive and well in this little caffeine haven.

Small business insurance solution: General Liability Insurance can address lawsuits over slip and fall injuries, and its Product Liability coverage can tackle customer burns. But employee injuries call for Workers’ Compensation Insurance.

Do you know a business owner who would find this rundown helpful? Send it their way!

Source: The 7 People in Your Life Who Need Small Business Liability Insurance

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