A Short Guide To Insurance For Landscapers

Landscapers play an important role in keeping communities beautiful. They are capable of completing a large variety of different outdoor tasks that can range from tree removal to cutting grass. However, landscapers are also exposed to a certain amount of risk through their job. They often face accidents that can put them out of work or cause them to suffer great financial losses.  Luckily, insurance for landscapers can help protect your business from these unexpected losses.

General Liability Insurance

There are two types of coverage that you will likely need as a landscaper. The first is general liability insurance. General liability insurance can protect you and your business from financial consequences you may face from situations involving bodily injury, property damage, and other liabilities for which you may be responsible.  

Commercial Auto Insurance

In addition to general liability insurance, you will also likely need a good commercial auto insurance policy. Chances are, you use a vehicle to transport your work supplies such as mowers, fertilizer, and other specialized tools for landscaping. If the unexpected happens and you run into problems with your work vehicle, commercial auto insurance can help pick up any related costs.

Running a landscaping business can be very rewarding work but is not a risk-free endeavor. Luckily, insurance for landscapers can go a long way towards helping everything run more smoothly.

Common Bonds in the Construction Industry

Despite bonds being common in the construction industry, there are many contractors and professionals within the industry that don’t understand them. You can consider bonds to be a financial guarantee. Here is what you need to know about common types of construction bonds.

Bid Bonds

Sometimes, when a project owner has a job for contractors, he or she will open up bidding on the project. If you want to bid on a job, the owner may ask you to obtain a bid bond. This is a guarantee that you will enter into the contract for the bid amount.

Performance Bonds

A performance bond protects the project owner if there are any problems with the contractors. In the contract, you guarantee that your team will do a quality job. If the project takes too long or if the owner is unsatisfied with the work, the performance bond will repay him or her.

Payment Bonds

If a contractor does not pay subcontractors or other team members, then the project owner could legally have to fit the bill. A payment bond protects the owner from these payments. It ensures that you will pay your team and your suppliers.

There are naturally a lot of different risks in the construction industry. Insurance, as well as bonds, protects your company and those who you work with.

Protecting Your Transport Operations From Liability

Protecting Transport Operations

If your primary business is a fleet or if you depend on a fleet to run your core business, the risks involved can destroy your bottom line. A risk management strategy approaches operations from a perspective of improving safety, efficiency, and mitigating liabilities. There are a number of factors that can detract from the value of your services, productivity, investment return, and overall profit. Having an insurance policy is just one part of a trucking fleet risk management strategy.

The Tremendous Risk

Trucking services face a primary risk of safety. Drivers on the road must contend with weather conditions, other motorists, or equipment failure. Those working in the warehouses or during the loading face slips, falls, or other injuries from lifting and moving cargo. The operations of the business and physical business location have the normal liability concerns of property damage, slander, errors and omissions, and worker’s compensations. Any of these concerns could jeopardize the company’s finances and ability to fulfill their services to others or for their own operations.

The Management Strategy

Insurance offers financial peace of mind in the event of a lawsuit, accident, or cargo damage. In addition to having monetary coverage against liabilities, implementing strong safety practices and quality training programs for all employees can help mitigate the risks present. Conducting a risk assessment audit lets you know where your primary concerns with liability are.

What Is Return to Work Insurance?

Work Insurance

Of the 2.8 million work-related injuries and illnesses that occurred in 2018, approximately 900,000 resulted in employees spending days away from the workplace. If you operate in an industry where injuries and illnesses happen frequently, it’s likely that you already have worker’s compensation insurance. Return to work (RTW) programs, while not a form of insurance, can work in tandem with your insurance program by engaging ill or injured staff in light or alternative duties. Here are three advantages of implementing one of these initiatives.

  1. Save Time and Money

A RTW scheme can help you to avoid the cost and time involved in hiring and training temporary workers. Also, by returning employees to work more quickly, you avoid an extended outlay of workers compensation funds.

  1. Retain Skilled Staff

Injured employees who stay at home for a longer period are more likely to leave the firm as a result of becoming discouraged or finding a job with another company once their convalescence has ended.

  1. Improve Worker Relations

A RTW program can help staff to feel more valued in the workplace and less alone in confronting the challenges brought by their new circumstances.

Workplace injuries and illnesses may be commonplace in your industry. If so, a RTW program should be part of your risk management strategy. It will save your company time and money, while also increasing worker morale and productivity.

Using Single-Parent Insurance To Boost Your Business

single parent captive

To keep your company protected against the many threats that exist in your industry, you require a comprehensive insurance policy. Of course, this is not always easy to obtain. Traditional insurance can create plenty of gaps in your protection, leaving you open to a number of commonplace threats. To avoid this, alternatives like a pure captive insurance option might be a good fit. Also called a single-parent policy, this is insurance provided and controlled by a third-party private insurer. There are several advantages to this arrangement.

Basic Benefits of Pure Policy

One of the largest benefits reported by experts who utilize a single parent captive policy is the cost. When compared to traditional fees related to insurance like underwriting, this alternative offers a more affordable solution. This, in turn, leads to more control over your company’s cash flow and an ability to use part of your income to invest in the future of your enterprise.  These policies often include more flexibility and can help you minimize your risks through this level of control. Additional benefits can include:

  • Incentives for loss control
  • Data analysis and forecasting for growth
  • Time-tested option with tangible results
  • Increased coverage options

Evaluating Your Company

A pure policy can be advantageous for companies operating in a number of different industries. Review the basics of this type of arrangement and learn more about how it works. Evaluate your business and determine if this is right for you.

Rowboat Maintenance Tips for a Water-Filled Summer

rowboat-maintenance-tips

Summertime is quickly approaching. With warmer weather, people are hitting the lakes, rivers and coasts to enjoy their boats. In addition to having rowing boat insurance, there are a few maintenance tips that can ensure your rowboat stays in top shape all summer long.

Storage

Storing your boat properly keeps it cleaner and ready for use. The experts at Mariners General Insurance Group understands that even a properly stored boat can be damaged. The right insurance plan protects your boat even when in storage.

Shell

The shell of the rowboat is one of the most important pieces to maintain. Waxing and polishing a clean boat can keep the hull in top shape and ready for those million rows the average rower puts in. Avoid wet sanding and keep up with any necessary repairs. The faster you repair the boat, the longer it will continue to function well.

Parts

A rowboat has intricate parts to keep the oars firmly in place and moving seamlessly. Make sure to properly lubricate all parts regularly. All of that friction can wear them out faster without lubrication. However, don’t simply lubricate haphazardly. Make sure to clean them regularly and avoid over lubricating.

These tips along with rowing boat insurance can keep you on the water whether you only boat locally or hit the road regularly. The proper care and storage keep your boat in top shape. Hit the waves throughout the summer.

Selecting the Best Insurance for Your Business

Program Business

Protecting your business and its assets is crucial for your continued success. Unfortunately, there are plenty of dangers that can cause you financial issues down the line. To meet the demands placed on your business, you need proper insurance. Selecting insurance involves more than simply browsing a directory of insurance agents. There are several key factors that play into picking insurance that works for your company.

Important Insurance Considerations

According to the experts at Program Business, there are several areas to focus on when looking for an agent to meet your insurance needs. First, it is essential that you assess the risks of your business. This will give you an idea of the areas that require the most attention. Additionally, areas to focus on when selecting an agency include:

  • Agency’s licenses
  • Specialty programs
  • Competitive offers

Update Regularly

What’s more, you might currently have insurance and feel unhappy with the coverage you are being offered. It is normal for a business to reassess insurance needs on an annual basis. When you get into this habit, it helps you select a provider that meets your unique needs.

Finding the perfect insurance agency for your company is a journey that requires a little bit of work. Give yourself time to weigh out your options and find a fit that makes the most sense.

How Workplace Safety Benefits Your Business

Program Business

Operating a business can be an involved endeavor. To see continued success, it is important you focus on key aspects of your company’s operations. Above all, you need to think about workplace safety. Recent reports have stated that The New York State Insurance Fund has distributed over $173 million in dividends to businesses exhibiting safety in the workplace in exceptional ways. To see benefits like this from NYSIF, you need to take action.

Simple Safety Steps

Reports by Program Business state that the funds distributed to policyholders will be used to help invigorate businesses, create jobs, and aid with expansion efforts. Taking advantage of these opportunities starts with understanding basic workplace safety. Educate yourself on OSHA standards and try to target areas in your work environment that pose risks to employee safety. You can also see improvements by:

  • Educating employees on proper safety protocols
  • Having your business assessed by an insurance specialist
  • Invest in newer equipment to reduce accidents

A More Secure Environment

Workplace safety has a way of paying off down the line. Not only does it help you increase the odds of benefits from your insurance provider, but it also makes your employees feel more secure while at work.  This morale boost might serve to create a more positive work environment all around.

Safety should always be a top priority for your business. Discover how you can create a more secure environment and do your part to make a difference.

Extending Your Coverage When Others are at Fault

contingent liability insurance

Extending Your Coverage When Others are at Fault

As the information on https://www.usrisk.com/ reveals, a business owner can be held liable for personal injury, property damage, bodily injury caused by a party or partner the business has a contractual relationship with. This is considered a contingent liability, or indirect liability, and it falls under the general liability exposures of business operations.

What is Protected?

Just as a general liability policy is able to protect a company from several areas of property damage, or bodily injury occurring to patrons or individuals on the business premises, contingent liability insurance works to protect instances where subcontractors, employees, agents, or contracts are responsible for the damaging incident. For example, if a grocery store hires a contractor to repaint its exterior sign and a paint bucket falls on a customer, the grocery store can be held liable for the incident. However, a standard liability policy might have this incident listed an exclusion, therefore carrying a supplemental contingency policy is wise.

Adequately Covers Risks

Every business has some risk of the contingent liability, although the amount and extent of coverage will vary according to your business’s operations. Your policy advisor will be able to tell you how effective your current plan is when facing these additional risks, and you may be able to include a rider or endorsement for these potentially uncommon areas of exposure.

4 Ways to Increase Property Security and Lower Risks

commercial property

Increased security measures can decrease the commercial property liability your business faces. There are a few key ways to help increase security and decrease risk.

Security Systems

Much like your home, you can guard your business with a security system. These come in a variety of options from online access to cameras tonight sensors. Advertise your system to deter criminals looking for an easy target.

Risk Assessment

The experts at https://www.thayerinnes.com/ recommend covering your exposures with a comprehensive commercial property policy. However, you don’t know what those exposures are unless you do a risk assessment. The assessment can help you find ways to increase your security measures and lower that risk.

Safeguard Equipment

Technological equipment is valuable and often easy to steal. Leaving out laptops and tablets makes them easy targets for someone looking for an easy lift. Secure all equipment out of sight when not in use.

Entry Points

One way to prevent unwanted theft is by watching who comes and goes through the building. Depending on your business, you may want to consider hiring a guard or installing keycard access in addition to your security system.

Securing your business helps lower commercial property liability. If you still happen to experience vandalism or theft, the insurance is there to protect the financial assets of the company.