Monthly Archives: June 2014

Do I need commercial auto insurance if I use my personal vehicle to make quarterly visits to my employer’s clients?

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If you are an employee who uses a personal vehicle for business purposes, commercial-auto-insurance is usually going to be necessary. Even though you might only use your personal vehicle for these business reasons on a limited basis, it is important to understand that your own personal policy will typically not include coverage for these business trips.

You need to review your personal auto insurance policy with your agent in Newark, NJ to learn precisely what is covered and what is excluded, but most personal policies have a clause that will specifically say that if the vehicle is being used for business purposes any damage caused or sustained will not be covered under the terms of the policy.

Since the personal policy will usually not cover any damage, it is important to get commercial-auto-insurance so that you are protected while making business trips, no matter how short or how infrequent they might be.

Your employer will need to be made aware of this, so be sure to speak with your employer and let him or her know that you are not covered under your personal policy and that you need to get proper protection under a commercial policy.

Your insurance agent can work with you to create a policy that includes both personal coverage for your own needs and commercial coverage for the needs of your job and your employer. When you arrange both policies with the same insurance agency, you may even be able to get a discounted rate for doing so!

Feel free to call us or contact us online anytime to get free quotes for commercial car insurance today!

What is the difference between general liability and commercial liability?

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As a business owner, you already know that you need to be fully protected by your insurance policies, but you may not know the differences in two essential types of liability insurance. Most businesses should have both commercial liability and general liability, but you should discuss this with your insurance agent to be certain you are properly covered for your specific situation.

General liability is the liability insurance that all businesses need to have. Most states in the U.S. require this, so you should talk to your insurance agent about the level that will be required to stay compliant in your state. This is the insurance that will provide protection for claims resulting from damages people suffer while on your business property. Further, it will typically also cover claims resulting from product damages, for example if a product produced by your company is found to cause injury.

Professional liability is designed to protect you from different types of claims, namely claims resulting from failure to fulfill business obligations. If your company fails to fulfill the terms of a contract or fails to fulfill obligations and someone has proven damages resulting from that, this insurance will cover those damages.

In some cases you may find that the state minimum levels of liability insurance will suffice for your situation, but many business owners find that it is best to have a more customized level of insurance that will cover every potential damage to the business. Your business is essential to your future and your livelihood, and it should be treated as such. Talk to your independent insurance agent about the coverage needed to protect your business today!

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Will homeowners insurance cover mold damage and restoration?

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Black mold, technically called toxy stachybotrys, can cause significant health problems, from dizziness and nausea to hallucinations, anxiety, depression, and personality changes–which is why addressing mold problems in your home is a serious concern. Of course, most black mold isn’t toxic and doesn’t cause side effects. But no matter what kind of mold you’re trying to remove from your home, you could be facing tens of thousands of dollars in remediation costs.

Will homeowner’s insurance cover mold remediation and restoration?

Most standard homeowner’s insurance policies don’t cover mold remediation. Not, that is, unless it’s linked to a peril specifically covered by your policy. For instance, if a pipe leak that is covered by your home insurance results in mold damage in the ceiling and wall beneath, that mold damage would likely be covered.

Your policy is most likely to be denied if the claim is based solely on the mold itself, not linked to a contributing factor. Claims are also more likely to be rejected if your home is exposed to heavy humidity on a consistent basis or if a leak or other issue has been neglected for some time.

Finding out for sure whether your damages are covered

Because every homeowner’s policy is different, your first step is to document your mold problem–take pictures and try to tell how extensive the damage is–and then contact your insurance agent. They’ll be able to go over your policy with you, answer your questions, and help file a claim.

If you’re concerned about mold damage in the future, you may be able to switch to a home insurance policy that’s sure to cover the damage; in this case, contact a local independent agent to talk about your coverage options.

My teenager is going away to college. Do I need additional insurance for their personal belongings?

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Additional insurance may or may not need to be purchased to cover the personal belongings of a teenager who has recently gone away to college. Whether or not additional coverage will need to be added to cover personal belongings will depend upon where the child will be living and where the items will be stored.

Teenagers from Newark, NJ that stay in dorms will be covered by their parents’ homeowner’s policy. The homeowner’s policy typically will cover any incidents of theft, fire, or vandalism that may occur with a teenager’s personal belongings.

When covered under a parent’s homeowner’s policy, the coverage that is offered is limited. Most homeowner’s policies will place a 10% limit on the amount that will cover a teen’s personal property. If the 10% limit is not enough to cover the cost of personal belongings, the parents may need to consider increasing the personal property limit on their policy.

There is also another limitation placed on being covered under a parent’s homeowner’s policy – the child and their belongings must return home every 45 days. If a child is staying in a dorm for longer than 45 days, their personal belongings may not be covered under a homeowner’s policy and additional coverage may need to be purchased.

Teenagers that are going away to college and living in off-campus housing or a frat/sorority house will need to have an additional policy purchased as a parent’s homeowner’s policy will not cover personal belongings kept at these locations. An additional policy, such as renter’s insurance, may provide the additional coverage needed to protect these items.

If you are sending a child off to college make sure you have the proper insurance needed to protect personal belongings. As your independent agent, we can help you find and compare policies from different companies that will offer protection for your child’s personal belongings while they are at school.