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Plumber’s Insurance – What Can Go Wrong?

Did you just start a plumbing business? You are a smart person. Your business will allow people to have one of the most valuable, and the most taken for granted, resource on earth, clean water. This provides families access to healthy and comfortable lives. Your work will always be needed not only in family homes, but also in every single building across the modern world. Having this in mind, you should make sure to protect your business against accidents or eventualities that might jeopardize your success. Here at FarmerBrown.com we have what you need, when you need it. General Liability Insurance is a type of coverage that will help you protect your business from many unexpected events. It’s a comprehensive commercial insurance that gives your business protection against: BODILY INJURY As part of the coverage package, you are protected from third party injuries on your business grounds. Let’s say you’re mopping your office up and a client comes in for a quote. You forgot to put the “caution wet floor” sign up, and he slips and falls. You’re covered for his fall and any medical cost that might arise, up to the agreed amount. This also covers you if you accidentally injure someone while on the client’s property. For example, an employee has left a tool on the ground and this caused the owner or someone walking through to fall and hurt themselves. You are covered the for this and any medical cost that might arise, up to the agreed upon amount. PROPERTY DAMAGE AND COMPLETED PROJECTS/PRODUCT LIABILITY Imagine you’re almost done with the project; you test the lines...

Condo Master Policy Insurance

Below are the key coverage an officer should look into when checking an insurance proposal for the condo association’s insurance policy. Property Building Pays for direct physical loss or damage from a covered cause of loss to the building or structures listed on completed additions, fixtures, permanently installed machinery and equipment, and personal property used to maintain or service the building or structures. Examples of these are outdoor furniture, floor coverings, appliances and fire extinguishing equipment. Building Ordinance or Law Loss to undamaged portion of building due to demolition pursuant to a building ordinance or law. Demolition cost Cost the demolish and remove debris of undamaged parts of the building when it is required by building ordinance or law. Increased Cost of Construction Covers increased cost to repair, reconstruct or remodel damaged or undamaged parts of the building to comply with a building ordinance or law. Inflation Guard Automatically increases coverage by a certain percentage every renewal in order to keep up with the effects of inflation. It means the building coverage on a renewal document will be 2-8% higher than the previous year. Sewer Backup Pays for loss or damage caused by water that overflows from sewer or drain or enters into then overflows from a sump pump or any other system designed to remove subsurface water from a foundation area. Equipment Breakdown Pays for loss or resulting loss of income caused by covered equipment, e.g. boilers. General Liability a.k.a. Slip and Fall or Premise liability coverage Protects the association from claims arising from injury or property damage to third parties caused by negligence. Each occurrence limit is...

In the Crosshairs: Contractor’s General Liability Part 2

Last time, we discussed three pitfalls lurking in the shadows when you’re trying to settle on the right contractor’s general liability insurance policy. Today we’re going to consider four more: 4. May the force (of your insurance) be with you. If you’re a general contractor, hiring subcontractors is a part of what you do every day. You might be a home builder that subs out plumbing work, or roofing, or carpentry. When you’re working on a big project, it can be cheaper and easier to hire someone to do parts of that project, so that you can get your work done on time and within budget. You might not be the world’s biggest, meanest, monster “truckdrivingest’ contractor, but you’re no newbie, either. You know the importance of having good insurance that is paid up and in force; you’re not about to get caught with your proverbial breeches down. But wait, unbeknownst to you, a potentially hidden danger awaits, ready to pounce. That danger lies in your subcontractors’ coverage – or lack thereof. “Now just a cotton-picking moment,” you think. “I always require my subs to have liability insurance. I’m covered.” Are you sure? Think again. How do you know for a fact that your subcontractors are covered? Do you take that strictly on their say-so, or do you require proof? And if you do, what constitutes proof, anyway? Suddenly, the outlook tilts, and you find yourself on a slope that is more slippery than the roof of an A-frame in an ice storm. How do you know for a fact that your sub is covered? If you’re like many...

In the Crosshairs: Contractor’s General Liability Part 1

The number seven has long been associated with good fortune; visitors to Las Vegas dream of getting them lined up on their favorite slot machine. However, while Lady Luck often shines upon the number seven, her evil twin Penelope Peril has been known to crash the party from time to time. Especially when shopping for contractor’s liability insurance. The following are seven of the most egregious perils you can face when choosing contractor’s general liability insurance. 1. Going with Joe Blow to save a little dough A friend tells you he’s found super cheap insurance and gives you the phone number to the company’s call center. You dash off to call them, dollar signs sashaying through your imagination as you think of the money you’re going to save. Here’s where the fun starts. First, the receptionist transfers you to sales, where someone who sounds like she could be the receptionist’s twin sister answers. You ignore the screeches and caws, believing them to be caused by transmission. As the squawking reaches a climax, she gives you a price. Switching to Raven Mad Insurance, will save you a couple of bucks. With all that money, you’ll be able to buy that nose-hair trimmer you’ve had your eye on. Is the company highly rated? She replies like a politician at a picnic. “We’ve got a number one rating!” What she fails to mention, is that it is one out of five stars. You sign on the dotted line, and then six months down the road, discover that Raven Mad Insurance has flown the coop. They had a low rating, even lower cash...

Excavation Contractors Risk

Working in construction can be rewarding both financially and in terms of job satisfaction. If you are a true artesian contractor who takes pride in his work and treats clients with respect and honesty you will have a successful business. Construction can also be quite challenging. It requires leadership, communication, and problem solving skills. Nowhere is this more true that when attempting to minimize risk on the job. One phase of construction that has its’ own elevated risk profile is excavation. Excavation typically refers to the movement of dirt and/or rock on a construction site. Modern excavators have such expanded tool attachments that the profession can find itself called upon to do much more than the traditional dirt moving jobs of the not too distant past. Regardless of these new modes of operation, the risk profile for excavators has remained remarkably consistent throughout the years. What Risks do Excavators Encounter? Excavators come in all shapes and sizes but they are all relatively large, heavy pieces of equipment that do large amounts of difficult work in a fraction of the time it could be done by hand. Because of their size, weight, noise and the often limited visibility of the operator, excavation is risky business. Here is a sampling of the more traditional risks associated with the trade. Underground essential services – including gas, water, sewerage, telecommunications, electricity, chemicals and fuel or refrigerant in pipes or lines. Information about the location of these and other underground services, such as drainage pipes, soak wells and storage tanks, in and adjacent to the workplace, should be established before directing or allowing excavation...

What you need to know about Excavation Contractor Insurance

On most construction sites the untrained eye might think excavation is the lowest risk portion of the job, right? You are digging and clearing space before any of the heavy lifting beings… WRONG! You are brought on the site with the assumption that the project manger has done his homework and marked all the areas to dig and place dirt….Not always the case. It’s 100% crucial to carry liability insurance for this reason alone. If you do the work and damage something either underground or on the surface its on you, not the project manager. Call the town center In every state, county and city there is a number to call before digging. Never sleep on this or trust someone else. It is your responsibility to call and make sure underground utilities lines are marked. You cannot trust anyone else to do this when its your business. Get in the habit of scheduling this as soon as you sign a contract for work. If you are brought in during the middle of a job, request to see the paperwork from the state or city based group in your area marking those utilities. How deep can you dig? Another important factor that is commonly overlooked is the depth to which you can dig. Many crews get onsite and objectively think I have to get done by this date, at all costs. They do not measure they depth to which they are digging. A common policy allows for 10 feet below ground. It’s important to know this number and stick to it on the job site. A claim could easily be...

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