Ignore the Bank, Go With Replacement Cost
Everyday agents are asked, well required, by banks to provide Coverage A limits in excess of the developed replacement cost. Why are such requests made? So that Coverage A limits match the loan requirements of course. Mortgagees tend to forget that the loan buys more than just the structure; it includes the land and location, location, location. The buyer/mortgagor is paying for the view and access to the office and shopping in addition to the house. The insurance policy only pays to replace the house. When Insurance Strikes (Out): Underestimating Replacement Cost
Underinsurance is still a problem. According to CoreLogic approximately 60 percent of homes are underinsured by 20 percent on average. Obviously, this leads to devastating results for the insured, and possibly the agent from an E&O perspective. We know this in the industry, but now the NY Times is reporting it – and they are making serious charges. 11 things you need to do to prepare for a windstorm
While property damage and business interruption may be covered by your insurance policy, the loss of market share and a damaged reputation can cripple a company. …Read more Small Business Insurance Basics
http://www.iii.org/es/insurance-topics/all-coverage-en-espanol |
Employee or Independent Contractor
Classifying a worker as either an “employee” or “independent contractor” is problematic for more than just workers’ compensation. In an attempt to minimize the problems and confusion, the Department of Labor has proposed the codification of five tests to help in classifying a particular worker as an employee or independent contractor. Although not necessarily developed for the insurance industry, these tests can be used for workers’ compensation clients. 
Three Ways Your Clients Increase Their Own Property Premiums
Bad decisions cause commercial property clients to pay higher property premiums. Sadly, the insured may not even recognize their poor choices. Worse still, agents can help clients identify their bad decisions with the right information. Small Business Insurance Basics
Insuring Your Home-Based Business Article Why Independent Contractors Need Liability InsuranceFinding Coverage that Matches Your Business Size Does My Business Need Flood Insurance? Home-Based Businesses Commercial Property
Take the Skills Test This skills test focuses on commercial property topics, including;
|
Got Questions?
|
Eddie K. Emmett, 200 Russell Court, Canton, GA 30115