As a small business owner and employer, you have a responsibility to your employees to ensure their health and safety in the workplace. Whether your employment involves operating heavy machinery or typing away at a computer all day, there are always risks. Here at HIG, we want to protect your business and it’s employees, which is why we’re offering tips to maintain a safe and healthy work environment.
When the sun is in the sky and the weather is heating up in Fall River and the South Coast, most people think of fun days at the beach splashing in the water or relaxing with a good book. While summer generally is a time for fun and relaxation, rising temperatures can also be dangerous if you don’t take the proper precautions. Kids and pets are among the most vulnerable during these summer months, so HIG wants to remind you to follow these summer heat safety tips that will keep your family safe.
Kids Summer Heat Safety
Children’s body temperatures can rise much more quickly than adults in hot temperatures, and kids can’t always communicate what they may be feeling. That’s why these summer heat safety precautions should be taken to ensure your child’s safety.
- Never leave your child unattended in a car. In 10 minutes, a car’s temperature can rise 20 degrees. Even if it is only 60 degrees outside, your car’s temperature can still reach 110 degrees in direct sunlight.
- Supervise children at all times. During outdoor play, monitor children closely to check for signs of heat exhaustion or dehydration. Early signs of heat exhaustion include dizziness, fatigue, and headaches. If symptoms are more severe such as vomiting and seizures, these are signs of heat stroke, and you should seek help immediately.
- Hydrate. Children need to be drinking more fluids during the hot weather. Don’t wait for your child to tell you they are thirsty. Have your child take breaks every 20 minutes from playing outdoors to hydrate with a cup of water in a shady, cool spot out of the sun.
- Protect their skin. If you plan to be in the sun with a baby under six months we recommend SPF clothing, umbrellas, and shade. Children over six months old should wear sunscreen with at least SPF 15, liberally applied frequently, and loose clothes that allow their skin to breathe. Hats are also an excellent choice, along with sunglasses to protect their eyes.
Summer Heat Safety For Your Pets
For most of us, our pets are like an extension of our children, for some of us they are our children, so remember, your pets can’t tell you when they are uncomfortable or may be in danger of overheating. By following these simple summer heat safety tips you can help keep them safe.
- Never leave your pets in the car. You might think if you crack the window and run into the store quickly, your pup will be okay. This is most likely not accurate. Car temperatures, as stated above, can rise quickly and this is extremely dangerous for your pet. Not only is it dangerous to leave your pet in a hot car, in some states it’s against the law. In Rhode Island, you can face criminal charges for leaving your dog in the car on a hot day.
- Walk them early or later in the evening. Your pet still needs exercise in the summer, but walking your pet in the early hours of the morning or late evening when temperatures have cooled can help prevent heat exhaustion or heat stroke.
- Walk them on grass or dirt. Don’t forget that your pet doesn’t wear shoes like you do! If the ground is too hot to walk on with bare feet, it’s too hot for your pooch, too. Walking your dog on grass or dirt can help avoid burning their paws.
- Keep your pet hydrated. Dogs have to pant to cool down and on a very hot day; this can be ineffective in lowering their body temperatures. Make sure your pet spends a majority of the day in a cool environment and has plenty of access to water to avoid heat stroke.
- Know the signs. Monitor your pet for any signs of heatstroke. Symptoms that your pet may be overheating include rapid panting, drooling, vomiting, diarrhea and in extreme cases, seizure and physical collapse. In case of an emergency, bring your pet to the nearest animal hospital.
Although, summer is a time for fun, it’s also a time when heat and humidity are at all-time highs, which can be extremely dangerous for the most vulnerable loved ones in our lives, like our kids and pets. HIG wants to remind you to take these summer heat safety precautions to protect your family this summer. HIG has been serving individuals and families for more than 100 years as experts in insurance, but our number one priority is you. For more safety tips for protecting your home, business, and family, visit our blog.
Now that the weather is finally warming up, there’s no denying that the South Coast of Massachusetts and Rhode Island is a great place to live — especially when you consider the beautiful beaches and scenery, fresh seafood, and sense of community found along the coast. Coastal homeowners also enjoy a boost as their home values increase, with many waterfront homes doubling in value over the last 20 years, according to a recent Zillow study.
As home values increase, however, so do the costs of insuring these beautiful properties. Luckily, your HIG insurance agent is here to help. While we can’t control the weather, we can help make sure you’re prepared for whatever it brings. Whether you live in Tiverton, RI or Fall River, MA, your HIG agent can help you put together a home insurance policy to fit your coastal home’s unique needs.
As experienced insurance professionals who have spent a combined 100 years living and working along the coast, we’re proud to be one of the most experienced coastal home insurance advisors in Massachusetts and Rhode Island. Our goal is to always answer any questions you may have about your insurance policies, which is why we sat down with HIG partner, Paul Burke, to go over some common insurance questions coastal homeowners often have — but remember, if you have a question that you don’t see answered below, you can always give us a call at 508.676.5949 or visit our offices in Fall River and Somerset.
1) Why is it difficult to find insurance companies that will write a policy on a home near the coast?
Insurance companies have to buy insurance, just like individuals do. This ‘reinsurance’ is more expensive for homes along the coast because of the recent increased prevalence of storms like Hurricane Katrina and Hurricane Sandy. These storms cause more costly damages for coastal homes than inland homes. Subsequently, many insurance companies no longer write home insurance policies for homes along the coast.
2) My homeowners policy has a Hurricane Deductible. Do all companies have this for properties near the coast?
Not all companies will have a hurricane deductible for homes along the coast. It’s important to understand that each insurance company will define a coastal home differently — some will say that a home near the ocean is coastal, while some will also call homes by bays or rivers coastal. The type of deductible the homeowners insurance policy for your coastal home will have is dependent on the company writing your policy. Some policies will have a hurricane deductible while some will have a wind deductible. Make sure to ask your agent which your policy has.
3) What is the difference between a hurricane deductible and a wind deductible?
A hurricane deductible will only apply when damage is incurred by a storm that has been named by the National Weather Service. A wind deductible applies to all wind losses, regardless of the type of storm.
4) Do I need flood insurance for my coastal home?
We can’t stress this enough: your homeowners insurance policy does not cover flood damage! This means it is vitally important for homeowners to discuss their flood insurance options with their independent insurance agent.
5) What separates HIG from other agencies when it comes to insurance for coastal homes?
HIG has partnered with several top quality insurance providers, which allows us to write home insurance policies that address the specific needs of homeowners along the South Coast of Massachusetts and Rhode Island. This gives us more flexibility to make sure our clients get the policies they need at a price they can afford.
When you work with an HIG agent, you’ll also get the best customer service around. We will walk you through your entire coastal home insurance policy from start to finish to make sure you are comfortable and confident in the policy you are purchasing. We will also continuously monitor the insurance options available for your home to make sure you are getting the best value and the best coverage.
Insuring your coastal home can seem like a daunting task, but your friends at HIG want to help simplify the process so that you can spend more time enjoying your home and less time stressing about your insurance. You can rest assured knowing that you will receive knowledgeable advice and recommendations from a local agent who knows exactly what is necessary to protect homes along the coast. Get in touch with an HIG agent today by visiting our website or giving us a call at 508.676.5949.
Here at HIG, we’ve been helping local businesses in Fall River, Somerset, and along the South Coast of Massachusetts and Rhode Island with their business insurance needs for more than 100 years. Over the course of that time, we’ve seen how the business world has changed, and have worked to make sure our insurance offerings evolve with it.
We sat down with HIG partner Chris Hadley to go over some of the biggest risks and questions that business owners today have. Read along to learn more about what your business needs to be fully protected.
Q. What are some business insurance options that can protect a company when it comes to slips and falls?
A. “Slips and falls are a pretty big concern for businesses, especially in the winter time. We see this come up a lot when businesses don’t properly salt an entrance or sidewalk. We also see issues with this when people mop floors during business hours. That can be a big risk, even if you put up ‘Wet Floor’ signs. Luckily, a business owners policy (BOP) includes liability protection, which covers a company’s responsibility for any harm it may cause to others. Your BOP covers medical or legal expenses resulting from an accident, like a slip or fall, which happened on your property.”
Q. What kind of income protection does a business have if it’s shut down from a fire?
A. “Most BOP’s have business interruption coverage. If your business experiences a covered loss, like a fire, water damage or another catastrophic event that requires your business to close for a period of time, the actual loss of income you experience would typically be covered during the period of restoration. Business interruption coverage also picks up any extra expenses incurred from setting up in a new location. For example, if you’re a doctor or dentist and you open a temporary office while yours is being restored, the extra expense of renting the space and buying or renting equipment would be covered in this scenario.”
Q. What can a business do to protect themselves from lawsuits related to things like wrongful termination?
A.“Many business owners policies now have Employment Practices Liability Insurance (EPLI) to cover this. EPLI provides coverage for wrongful acts related to the employment process. The most typical situations are wrongful termination, discrimination, sexual harassment, and retaliation. It’s a security policy that pays for legal defense costs and/or any punitive damages. HIG has definitely seen our fair share of these types of claims coming from clients, so we have a discussion about EPLI coverage with anyone who has employees.”
Q. A topic that has been in the news recently is that of employee embezzlement. What can a business owner do to protect themselves from this?
A. “Many BOP’s have an option to purchase what’s known as employee dishonesty or crime coverage. This insurance coverage can protect a business owner from financial losses resulting from fraudulent acts performed by an employee such as theft, computer fraud, embezzlement, wire transfer fraud, etc. Your independent insurance agent will be able to help you determine how much of this coverage your unique business needs.
Q. Cyber Security has been top of mind for business owners for many reasons in recent months, but most recently with the WannaCry attack — what can business owners do today to protect themselves from a data breach or cyber attack?
A. “This is an enormously important topic these days with all of our business insurance clients. We recently had a client come in who had added an online purchasing option to their website. I suggested adding on data security coverage, which is an additional coverage that can be added onto your BOP, since their website was now taking credit card information. They decided to go with my recommendation and added on the coverage, which was very fortunate, because six months later they were the victim of a data breach. It’s one of those coverages where you don’t realize how important it can be until you experience a loss first hand.
Data Security Coverage protects your business if it becomes the victim of a cyber hack. One of the biggest benefits comes if you have credit card data that is stolen. This coverage will protect individual customers and your business by notifying all affected individuals and setting up credit card reporting and monitoring for each customer who is impacted, which can be a serious cost for a business to take on themselves. Business owners should know that credit card data isn’t the only thing cyber criminals are after, however. If they hack your computer system, they can also steal sensitive, personal information, like social security numbers, which is another way that this coverage can be helpful. Individuals who are impacted by your business’ data breach are eligible for identity restoration case management in addition to credit monitoring.
Data Security Coverage will also cover any damages that were done to your computer or computer systems, and includes a professional forensic IT review to research and determine any vulnerabilities in your computer system. It also covers cases of extortion, which have been happening recently like with the WannaCry ransomware attack. It’s not that expensive to add on, especially when you weigh the cost a business could face without this coverage, so we definitely advise any business that uses computers to purchase this additional coverage.”
When it comes to insuring your business, you never want to leave things to chance. A Business Owners Package is a great option for small to medium sized businesses because it combines your major property and liability risk into one comprehensive package, saving you time and money on your total insurance program. While many of the coverages we’ve discussed today are included in most BOP’s, your independent insurance agent can go over policy specifics and limits to make sure your unique business has the protection it needs.
You’ve probably seen it in the news, but car insurance rates are on the rise, with all signs pointing to technology as the main culprit. In today’s highly connected world, cars are becoming more advanced with new safety features and technology. While these changes were intended to make cars safer, they also make it more expensive to repair a car when it is involved in an accident. Hence, the increase in car insurance rates in Massachusetts, even for drivers who have not been involved in a recent crash.
Here at HIG, we are breaking down why car insurance rates are going up for almost everyone and sharing a few ways to help you save on your car insurance costs to hopefully offset any changes you may see.
Cost of Fixing Cars
The cost of auto repairs have skyrocketed. There is no doubt that there have been vast safety improvements in cars over the last several years, but these changes have also affected repair costs and subsequently, insurance rates. Modern cars are more complex — made out of different materials and more parts than ever before. All of these improvements translate to labor intensive and costly repairs. Below are some of the ‘used-to-be easy’ fixes that have been impacted by newer and safer technology.
A fender-bender used to be an easy fix, maybe a few hundred dollars at most. In the past, auto technicians could simply punch out the dent — but that’s no longer the case. Many new bumpers are now a molded piece of vinyl attached to aluminum, which is designed to absorb impact and function with the crumple zone. This means that when there is damage to the bumper, it has to be completely replaced and typically with a hefty price tag, sometimes over $1,000! New bumpers also include sensors for things like backing up, collision avoidance, lane alignment, and even cruise control, further increasing repair costs.
Headlights have also evolved over the last several years. In the past, many car owners were able to replace a headlight assembly themselves with a little patience and know-how. However, newer cars now use LED or HID bulbs which require different parts and expertise to replace. A typical halogen bulb would cost $15-20 on average, but HID bulbs typically cost $100 or more — and don’t forget about the cost of labor.
For most insures the cost to replace a cracked or broken windshield is covered under your auto insurance policy; which is a significant saving for you. However, with new technology, the cost of repairing your windshield has increased drastically. According to a recent article in The Boston Globe, it used to cost around $350 for a simple windshield replacement. Today, those same windshields are made with higher quality glass and often contain connected sensors that can detect things like lane departures, rain, and even changes in lighting. Consequently, these advances have almost doubled the cost of repairs.
Technology isn’t the only thing impacting your car insurance rates — low gas prices, unemployment rates, and the technology in your hand have as well.
With gas prices still relatively low and unemployment rates in Massachusetts still under 4% it may seem like a good thing, however in the insurance world, it can mean something completely different. The National Safety Council (NSC) projected that there were 3% more drivers on the road in 2016. And with more people on the road, there is an increased risk of car accidents. Combine this data with increased rates of distracted driving, and auto insurers are seeing much higher rates of auto insurance claims.
For the first time in history, we are dealing with a generation that learned to text before they learned how to drive. But teen drivers aren’t the only ones to blame — 36% of all drivers text and drive. With more distracted drivers on the road, we also see an increase in distracted driving accidents and fatalities. According to the National Highway Traffic Safety Administration, fatalities attributed to distracted driving increased 8.8% in 2015, reversing a long-running decline in automobile-related fatality rates. (If you’re concerned about distracted driving and want to learn tips to avoid this dangerous behavior, read our blog on Tips to End Distracted Driving.)
Technology is changing the world we live in, and here at HIG, we want to help you keep up. While we can’t stop auto insurance rates in Massachusetts from climbing, we can work to help you find a policy that fits your needs and your budget. Here are just a few discounts and coverages you should consider when assessing your car insurance options.
- Bundling Auto & Home With The Same Insurance Carrier
- Disappearing Deductible
- Accident Forgiveness Multi Car Individual/Spouse
- New Customer Discount
- Automatic Bill Pay/Pay In Full
- Energy-Saving Hybrids Or Electrics
- Advanced Driver Training
- Military Away
- Motor Club Membership
- New Auto Replacement Cost
- Auto Loan/Lease Gap Coverage
- Pet Coverage
- A Student Away At School
- Good Student Discount
- Low Mileage Discount
- Group Discounts
Not happy with your current auto insurance policy? Get in touch with us today to let us help you find a policy that fits your needs. You can reach us at (508) 676-5949 or by visiting our website.
All it takes is four seconds to change the radio station, sip your coffee, check your makeup in the rearview mirror, read a text — or get into an accident.
Did you know that taking your eyes off the road for four seconds while going 55 mph is the equivalent of driving the length of a football field blindfolded? Hard to believe, we know, but what’s even more unsettling is the number of people who drive like this everyday. According to the U.S. Department of Transportation, there are 660,000 distracted drivers on the road at any given time, which many experts believe is a contributing factor to the increase in motor vehicle deaths the US has seen in recent years. Keep in mind that as distracted driving behaviors increase, so do insurance rates.
Remember: distractions can be cognitive, visual, or both. Think of it this way, if you decide to read a text while driving, not only are you taking your eyes of the road, but you’re also thinking about that text instead of keeping an eye on your surroundings. It’s important to note, however, that driving distractions are not limited to cell phone use. Any activity that disrupts your attention from the main task at hand — driving — can be a danger when you’re behind the wheel. Here are some examples:
- Dialing or making a call on your phone
- Playing with a smartphone app
- Eating or drinking
- Talking to passengers
- Programming a GPS or navigation system
- Adjusting a radio or MP3 player
- Looking for items in your vehicle
So what can you do to be a safer driver and to model safer driving behavior for the next generation? We’ve outlined a few tips to help keep everyone safe on the roads.
Be prepared before you leave.
Before you start your car, make sure you’re really ready to go. Your music is set, your phone is off, your sunglasses are on. If you’re running late and planning to multitask while you drive to save time, know that doing things like eating or grooming can be just as distracting as trying to text while driving. You should also make sure everything in your vehicle is secure before leaving — including pets and children. Trying to reach for something rolling around in the back seat while driving isn’t just a pain, it’s also a danger to yourself and everyone around you when you’re driving.
Put your phone away.
When you get in your car, put your phone upside-down and out of reach to avoid temptation. If you don’t feel comfortable doing this, consider putting your phone on silent so you aren’t distracted by notifications, calls, or texts. There are also gadgets available to help you or your teen driver stay safe on the road like Cellcontrol™ DriveID Technology from Arbella. Remember: no text or phone call is as important as a life. It can wait.
Pull over if you need to.
Maybe you dropped the top to your water bottle while you were driving. Or maybe you remembered you need to make an important phone call before arriving at your destination. Either way, you should always pull over to a safe place to address the issue rather than trying to multitask while driving. The same is true if you’re feeling drowsy while driving. It’s always better to pull over safely to take a rest than to try and push through and risk falling asleep at the wheel.
Distracted driving is an epidemic that endangers you, your passengers and the lives of anyone else on the road, which is why we want to challenge you to confront the problem. Understanding the dangers of distracted driving is the first step towards changing your behavior. But now it’s up to you to set a good example for those around you and to help eliminate distracted driving behaviors from our roads.
Here at HIG, our goal is to help keep you and those around you safe. Give us a call today at (508) 676-5949 or visit our website to at hadleyinsurit.com to learn more about distracted driving and how to put an end to the risky behavior.
From portable heaters to fireplaces and wood stove safety, there are a lot of things to be aware of during a New England winter. But one of the biggest winter dangers is invisible to the naked eye: carbon monoxide poisoning.
According to the CDC, more than 20,000 individuals visit the emergency room for carbon monoxide poisoning every year and over 4,000 are hospitalized. The dangers are real, just like in this tragic case in Acushnet. So what can you do to prevent this silent killer from harming your family? Read on for some common sources of carbon monoxide poisoning along with some safety tips to help prevent carbon monoxide leaks.
Wood Stoves and Fuel Burning Space Heaters
If you use a wood stove to stay warm in the winter remember — proper ventilation is key, as a poorly vented wood stove can actually create a buildup of carbon monoxide in your home. HIG recommends that you inspect your wood stove at the start of the season to ensure there is no buildup before you use it. The same goes for fuel burning space heaters. Check and clean your space heater regularly and make sure to use them only in a well-ventilated room. And this should go without saying, but never leave a wood stove or space heater on if it’s unattended.
Snow Blocked Vents
Throughout the winter, you should be checking your exhaust and furnace vents or any intake pipes to make sure they are not blocked by snow. If they are, make sure you remove the snow as soon as possible as this could lead to carbon monoxide poisoning.
Car Related Carbon Monoxide Poisoning
If you like to warm your car up before leaving the house and have a garage, remember to never do this if your garage door is closed. Running a car in a closed space can also lead to a dangerous buildup of carbon monoxide.
Carbon Monoxide Detectors
Make sure you have carbon monoxide alarms installed on every level of your home, as required by housing code in your town (here are some resources from Mass.gov for our Massachusetts friends and RI.gov for our friends in Rhode Island). Avoid installing detectors near ceiling fans, vents, or cooking or heating appliances, which can inhibit the detector’s ability to accurately work. Make sure you test them at least once a month and that you replace them according to the manufacturer’s instructions.
Symptoms of Carbon Monoxide Poisoning
Now that you know some common causes of carbon monoxide poisoning, you should also know the symptoms. Feeling weak and or dizzy, headaches, nausea, and even ringing of the ears can all be symptoms of carbon monoxide poisoning. Keep in mind that carbon monoxide poisoning can happen faster in children than in adults because they have faster heartbeats and breathing rates. And don’t forget, your pets are also susceptible to carbon monoxide poisoning. In addition to symptoms like sleepiness or lethargy, your pets may also become uncoordinated in their movements, have difficulty breathing, or even have seizures if exposed to dangerous levels of carbon monoxide.
Unfortunately, these symptoms occur for a myriad of other illnesses, including the common cold or the flu, making it more difficult to diagnose cases of carbon monoxide poisoning. If you suspect you or someone you know is suffering from carbon monoxide poisoning, make sure to call 911 immediately.
Here at HIG, we’re not just insurance agents, we’re also trusted advisors. Your health and safety are our number one priorities. Get in touch today by visiting our website at www.hadleyinsurit.com or by calling our office at 508.676.5949 to learn more about what you can be doing to stay safe this winter.
Can you believe that it’s already 2017? We know you’re probably worried about your New Year’s Resolutions like being healthier or spending more time with family, but at HIG we think the New Year is also a good time to think about your car insurance.
For many people, the first of the year is the time to renew your car insurance policy. If this is the case for you, make a goal to be more proactive about your insurance this year. Follow our helpful tips to make sure you have the coverage you need to stay safe on the road while saving money in ways you, or your insurance agent, could be overlooking.
Here’s a quick checklist we created to get you thinking. Not sure what something is? Keep reading for a more detailed description of each coverage and discounts!
- Multi Car Discounts
- Bundling Discounts
- Good Student/Student Away at School Discounts
- Disappearing Deductible Discounts
- Energy Savings Hybrids or Electric Car Discounts
- Disappearing Deductible Discounts
- Energy Savings Hybrids or Electric Car Discounts
- Advanced Driver Training Discounts
- Military Away Discounts
- Mileage Discounts
- Annual Premium vs Monthly Premium Discounts
- Charitable Donation Discounts
- Lease Gap/Auto Loan Coverages
- New Auto Replacement Cost Coverage
- Accident Forgiveness
- Substitute Transportation
- Optional Bodily Injury to Others
Car Insurance Discounts You May Qualify For:
Multi Car Discounts — Do you own more than one car? If you insure them with the same carrier, you may be eligible for a discount on your insurance premium.
Bundling Your Car — When you bundle your Car and your homeowners, condo or renters insurance policies with the same insurance carrier you could save 15% or more.
Good Student Discount — Have a stellar student at home? Don’t just brag about it; bring your child’s report card to your insurance agent to see if you’re eligible for a ‘Good Student Discount’.
Student Away at School Discount — If your child is away at school more than 100 miles from your home, you could qualify for this insurance discount.
Disappearing Deductible Discount — With disappearing deductible, you can save money on your insurance by just being a good driver! For every renewal you go without getting in an at-fault accident, you can earn credits towards a future deductible.
Energy Saving Hybrids or Electric Car Discounts — More than just saving money on gas, you could also save on your insurance by driving one of these new, environmentally friendly cars.
Advanced Driver Training Discounts — Did you commit to learning safer driver techniques by enrolling in a driver safety course? Let your agent know to see if you qualify for any discounts.
Military Away Discounts — We are proud supporters of the men and women in our armed services, and so are many insurance carriers. If you are deployed more than 100 miles from where your car is garaged, you could qualify for a discount on your car insurance.
Mileage Discounts — Are you an infrequent driver? Then this is a great discount just for you! By driving less, you could qualify for a lower insurance premium.
Paying Your Premium In Full — Did you know that paying your insurance premium annually versus monthly can save you money? Plus, you don’t have to worry about remembering to pay your insurance bill every month.
Charitable Donations Discounts — Do you have a charity or non-profit that is near and dear to your heart? Ask your insurance agent about any discounts you may be eligible for through your charitable donations.
Car Insurance Coverage Options:
Lease Gap/Auto Loan Coverages — Worried about your insurance coverage when it comes to your aging vehicle? Lease Gap or Auto Loan Coverage helps cover the difference between what you still owe for your car and its actual cash value in case you were to get in an accident.
New Auto Replacement Cost Coverage — Ever worry what would happen if you totaled your car? Would your insurance coverage be enough to get you the same car or would you have to downgrade to something not as nice? With new auto replacement cost coverage, your insurance will pay to replace your car with a new vehicle of the same make and model.
Accident Forgiveness — If you’re a driver with a clean driving record and at least 6 years of driving experience, you should definitely consider accident forgiveness. By purchasing accident forgiveness, you’re able to avoid insurance premium increases resulting from one at-fault accident. Just remember, you will still get points on your driving record, but your insurance premiums won’t reflect this change as long as you stay with your current insurance carrier.
Substitute Transportation — If your car is in the shop due to an accident, substitute transportation coverage can help cover the costs of renting a car or taking public transportation until you get your car back. Remember though, this would only apply after an accident, not for routine mechanical repairs.
Optional Bodily Injury to Others — While Massachusetts requires a minimum of $20,000 per person and $40,000 per accident for bodily injury to others, often times this limit is unfortunately not enough to cover medical expenses related to an at-fault accident. Talk to your agent today about raising this limit to make sure you’re protected in case you ever injure someone in an at-fault accident.
Are you planning to buy or lease a new car in 2017? Read our blog on what you need to know insurance-wise before you do.
Here at HIG, we know the auto insurance industry like the backs of our hands. Visit our website at www.hadleyinsurit.com or give our office a call at 508.676.5949 to learn more about how you can get proactive about your car insurance.
Imagine this: a tree is knocked over during a winter storm and falls onto a set of power lines in front of your business. This incident sparks a fire that damages your building, along with your two commercial vehicles parked out front. You’re forced to close for a few months in order to rebuild your office. Could your business survive without the income? Well, here’s why you need business income insurance.
For a lot of businesses, this exact scenario can be make or break. If your business suffers a major claim and is unable to generate revenue, what would you do? If you have a Business Owners Package, you would be in some luck. This insurance package combines major property and liability risk into one comprehensive policy. It also provides loss of income protection, also known as business income coverage.
Many small business owners don’t realize that this specific coverage is a part of their Business Owners Package, but it can be more important than property insurance if your business is ever in the position of being unable to operate for an extended period. Here are some details that you should know:
Will Business Income Insurance help my business?
Business Income Insurance is helpful for any type of business, from restaurants to retail stores to professional service providers. Think of it this way: if your business had to shut down for a few months, would you be able to continue covering all your business expenses yourself? If said the answer is no, then you would benefit from this coverage. While this type of insurance is helpful for any business, it can be particularly useful for retailers and healthcare businesses.
What does Business Income Insurance cover?
While your Commercial Property Policy will help cover the costs of repairing damages to the structure of your business based on the specifics of your policy, Business Income Insurance provides extra relief to help you get through the period of time when your business is unable to operate. First, this coverage can compensate you for lost income while your business is closed. The income value is based on financial records, and will take into account any recent increases or changes in revenue.
Business Income Insurance will also help you pay employees until you can reopen and may help cover recurring operating expenses like your gas and electric bills or even your mortgage. Depending on the specifics of your policy, Business Income Insurance might also help cover the costs of finding a temporary location for your business until your primary office is able to open.
Is there a limit to how long Business Income Insurance will apply?
This depends on the specifics of your insurance policy, however, in general, business income insurance should help cover expenses for your business for up to 12-18 months. You should check with your insurance agent to understand the coverage you have for your individual business.
How do you get Business Income Insurance?
Talk to your independent insurance agent today to learn more about this extremely valuable business insurance. Business Income Insurance is generally bundled as a part of your business owners package, along with property and liability insurance. If you don’t have a business owners package however, it can definitely be added as a part of your commercial insurance package.
If you’re worried about what you would do if your business was forced to close for an extended period of time, give HIG a call today at 508.676.5949 or visit our website at www.hadleyinsurit.com. Our team of experienced agents will help create a business owners insurance package that fits your unique needs so you can spend less time worrying, and more time running and growing your business.
When it comes to protecting your business, having the right liability insurance can be make or break. Consider this: a customer trips and falls on a set of stairs in your building and breaks their leg — would you be able to cover their medical costs? Or what if you are the victim of a data breach, resulting in the release of all of your clients’ credit card information? Would you have the resources to resolve the problem?
In many cases, experience and hard work are not enough to keep a business thriving. If you own a business, here are 4 types of liability insurance you should definitely consider:
General Liability Insurance in MA and RI
General Liability Insurance, also called commercial liability insurance, protects you, your business, and your staff against claims resulting from property damage or bodily injury. This coverage helps cover expenses like legal fees or medical expenses up to the limit of your policy. This type of coverage can also protect you in case you run into other unexpected incidents, like copyright issues or even instances of libel, slander, or misleading advertising.
Professional Liability Insurance in MA and RI
This type of insurance, also knowns as Errors and Omissions Coverage, is a must for any business that offers professional advice or services, such as a law firms, accountants, or engineers. This specific coverage provides protection in case a client takes legal action for things like negligence, misrepresentation, or for providing inaccurate advice.
Employment Practice Liability in MA and RI
Employment Practice Liability Insurance, or EPLI, helps protect businesses if an employee takes legal action because they feel their legal rights have been violated. Common lawsuits that EPLI provides coverage for include cases of discrimination, sexual harassment, wrongful termination, failure to employ or promote, breach of contract, or even cases of wrongful infliction of emotional distress or mismanagement of employee benefit plans.
Cyber Liability in MA and RI
If your business takes credit card data from clients or uses technology to store employee data, you should definitely consider purchasing Cyber Liability Insurance. As hacking threats become more sophisticated, small and medium sized businesses are now being targeted more and more. Cyber Liability will help cover the costs of identifying and resolving the cause of a data breach as well as the defense and settlement costs if your business is sued as a result of a hack.