Business Insurance

Business Insurance
Most people hate to talk about insurance, but most businesses no matter how big or small need to have some kind of insurance in order to operate and assure their business partners of their solvency in case of the unthinkable. If you are looking to protect yourself from risk your goal in the end is to purchase the best and most affordable coverage. We have listed some of the more popular types of business insurance below. This way you can start making a list of the different types available that you might need for your business to operate smoothly and efficiently.
If you have employees working for you then for the most part you must take part in your state’s worker’s compensation, disability, and unemployment insurance programs. In most circumstances if you are the only employee you are not required by law to have business insurance, but the bigger question is why would you want to risk losing everything you have worked so hard for if something bad happens? Check with your individual state for the requirements you must meet in order to do business, but we strongly suggest having some kind of policy in place.

The 9 Different Types of Commercial Business Insurance:

1) General Liability – One of the reasons general liability is so popular is that it covers and protects general things such as injuries, property damage, accidents, or negligence claims. Some policies are also designed to protect your company in the case that people slander your business reputation and it costs you money or clients.

2) Property or Casualty – Usually these types of policies are lumped into general liability insurance, but they can also be interchangeable, so pay close attention when you are reviewing your policies. Remember, peril specific policies such as flooding, fire, crime, and business interruption is not something automatically covered under most property insurance, so these types of coverage will need to be added separately.

3) Product Liability – This covers you if one of your products ends up being defective and causes damage to a building or if someone is injured by one of your products in an accident.

4) Life & Disability – Besides the obvious life and disability insurance programs for employees there is also something called key employee life insurance. It helps protect you against the loss of income for your business because of the death or disability of a senior employee.

5) Commercial Auto – If you have vehicles that will be used for business purposes then they will have to be covered in case something happens to the employee or vehicle while it is in operation.

6) Business Interruption – This protects you in case there is an interruption in running your business such as an accident that shuts your factory down resulting in the loss of time and money. Each area of the world is prone to different disasters and circumstances, so make sure to look at which ones would affect you and have the insurance company add that to your policy.

7) Home Business – Don’t for a minute think that your homeowner’s insurance would cover you for your home business should damages arise from a fire or other accident. Most home owners policies would pay out very little to make up for any losses to a home business that occurred on the premises.

8) Internet Business – The number one problem with having an internet business is “security”. As a matter of fact our internet business was hacked into by a Russian computer professional. It took us weeks to get back on our feet because many of the websites had to be redone and put on different servers. Luckily though we had this insurance to cover us, so our concerns had more to do with the loss of time than the actual money spent on the process.

9) Specialty Insurance – Dentists, Doctors, Accountants, and Not for Profits can all have their businesses covered for miscellaneous things that may go wrong such as errors on taxes or malpractice suits.

Now that we have discussed your options for attaining commercial business insurance it’s time for you to get out there and talk to some insurance agents regarding your wants and needs for your company. A couple of things to keep in mind: Customer service goes a long way with insurance agents. Make sure you get an idea that they are going to be there for you for the long haul, not just for when something bad happens. Most good insurance agents will check in with you periodically to see if anything needs to be updated in your policy. Shop around and get a bunch of quotes from different companies, because then you will have more options and the negotiating power to get the best overall coverage for your company.

Insurance law

Insurance law

Insurance Law is, as the name implies, the body of law pertaining to insurance. This includes insurance policies, insurance claims, insurance regulations and rates, and recently enacted laws, like the Affordable Care Act. Basically, insurance law can be broken into three categories: the business of insurance, the content of insurance policies, and the handling of claims.
Business of Insurance

These laws affect the requirements for companies wishing to operate the insurance industry. These laws can vary widely from state to state, but can affect things like ensuring the insurance company will have sufficient liquidity to cover claims in the event of catastrophic events or natural disasters. These laws also govern licensing insurance companies, regulating who insurance companies can turn away from coverage, the types of insurance a company must offer in a jurisdiction if it wishes to offer other policies, and many others.

Content of Insurance Policies

Laws related to the content of insurance policies are designed to prevent predatory practices that would essentially let insurers offer worthless or diminished value policies. They also prevent insurers from misleading clauses and titles on policies that would allow an unsophisticated buyer to believe that they are buying one type of insurance but receive another. These laws also govern other provisions, like reasonable cancellation, disclosures to third parties, and delineations of insured and uninsured events.

Handling of Claims

These laws affect how insurance companies must respond when a claim is made. They prevent insurance companies from denying claims unreasonably. They also prevent insurance companies, in certain instances, from canceling policies simply for making claims. They also affect how insureds can make claims and what happens if someone attempts to make a fraudulent claim.

Affordable Care Act / "Obamacare"

The Patient Protection and Affordable Health Care Act, also known simply as the Affordable Care Act or “Obamacare,” is a sweeping set of federal laws designed to increase the quality and affordability of health insurance, lower the rate of uninsured Americans by increasing public and private insurance coverage, and reduce the costs of healthcare for both individual citizens and the government. To do this, it uses a number of mechanisms, like mandates, subsidies, and insurance exchanges, to promote coverage and affordability. The Affordable Care Act also requires insurance companies to cover all applicants, including those with preexisting medical conditions and without regard to gender, provided they meet new minimum standards for coverage.

Although the Affordable Care Act has been a hot button issue for political controversy, the United States Supreme Court upheld the constitutionality of the Affordable Care Act in the case of National Federation of Independent Business v. Sebelius. However, the Court also held in that case that states cannot be forced to participate in the Affordable Care Act's Medicaid expansion under penalty of losing their current Medicaid funding. Since that ruling, politicians have hotly contested the law's implementation, including a bid by Congressional conservatives to force a repeal of the law by exercising Congress's “purse power” and allowing a brief federal government shut down to occur in 2013 rather than pass a budget that included funding for the implementation of the Act.

If you have questions about insurance laws, you can review the materials found below for more information or use our Law Firms page to find an attorney in your area who can assist you.

Home insurance

Home insurance

Homeowners insurance is a form of property insurance designed to protect an individual's home against damages to the house itself, or to possessions in the home. Homeowners insurance also provides liability coverage against accidents in the home or on the property. 


While homeowners insurance covers most scenarios where loss could occur, some events are typically excluded from policies, namely: earthquakes, floods or other "acts of God" and acts of war.

For people who live in certain parts of the country, adding an extra policy for earthquake insurance or flood insurance can be a good idea to offer further home protection and peace of mind. Some homeowners insurance is designed for renters, typically HO-4 or "renters insurance", and only covers possessions within the home and isolated events not covered in the property insurance held by the owner.


In the U.S. there are seven forms of homeowners insurance that have become standardized in the industry; they range in name from HO-1 through HO-8 and offer various levels of protection depending on the needs of the homeowner. 

Homeowners' insurance isn't a luxury, it's a necessity. In fact, most mortgage companies won't make a loan or finance a residential real estate transaction unless the buyer provides proof of coverage for the full or fair value of the property (most of the time this is the purchase price). In this article, we'll show you some simple actions you can take to make sure your homeowners' insurance is sufficient for your needs.

For background reading, check out Exploring Advanced Insurance Contract Fundamentals and Fifteen Insurance Policies You Don't Need.
Homeowners' insurance can be very expensive. Those that live in high-risk areas such as close to major waterways, known earthquake fault lines or other high claims areas will pay the most for coverage. In fact, those in high-risk areas are often forced to pay annual premiums in the many thousands of dollars. But even homeowners in relatively sedate, suburban neighborhoods (with property values around the national average of $210,000) could pay between $500 and $1,000 a year for a basic policy.

Insurance that protects a property owner against damage caused by fires, severe storms, earthquakes or other natural events. As long as the specific event is covered within the policy, the property owner will receive compensation to cover the cost of any damage incurred. Typically, the property owner will be required to pay for a year's worth ofpremiums at the time of closing, but this will depend on the exact details of the policy.

Your home provides your family with shelter from the storms. It provides a safe, comfortable, stable place for your family to return to after work or school is over for the day. You spent time searching for a home that would meet your family's needs, and put effort into making the money it costs to purchase it. The last thing you want to have happen is for something, or someone, to severely damage the home that your family lives in. Homeowners insurance is what you need to help protect the investment that protects your family.
Homeowners insurance can give you some financial protection in case your home is damaged. If your home is burglarized, it is your homeowners insurance that will step in to replace the items that were taken. Homeowners insurance can also give you help if someone becomes injured at your home, or on your property.

The property protection part of your homeowners insurance covers can be broken into four parts. It covers your dwelling, other structures, personal property, and loss of use. Your dwelling consists of the house itself, as well as any built in appliances that are inside it. Those appliances might include a dishwasher, oven, washer and dryer, or even your refrigerator. It also covers the plumbing that runs through your home, and the electrical wiring that helps power everything inside your home. Property protection also covers your heating and air conditioning units. If your home has an attached deck, or porch, that is covered under the property protection part of your homeowners insurance as well.

All State Health Insurance

All State Health 
Insurance

Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses. Depending on the type of health insurance coverage, either the insured pays costs out-of-pocket and is then reimbursed, or the insurer makes payments directly to the provider.In health insurance terminology, the "provider" is a clinic, hospital, doctor, laboratory, health care practitioner, or pharmacy. The "insured" is the owner of the health insurance policy; the person with the health insurance coverage. In countries without universal health care coverage, such as the USA, health insurance is commonly included in employer benefit packages and seen as an employment perk.

In some countries, such as the United Kingdom or Canada, health care coverage is provided by the state and is seen as every citizen's right - it is classed along with public education, the police, firefighters, street lighting, and public road networks, as a part of a public service for the nation.In other countries, such as the USA, health insurance coverage is seen somewhat differently - with the exception of some groups, such as elderly and/or disabled people, veterans and some others, it is the individual's responsibility to be insured. More recently, the Obama Administration has introduced laws making it mandatory for everybody to have health insurance, and there are penalties for those who fail to have a policy of some kind.
Everybody at some time in their life, and often on many occasions, will need some kind of medical attention and treatment. When medical care is required, ideally the patient should be able to concentrate on getting better, rather than wondering whether he/she has got the resources to pay for all the bills. This view is becoming more commonly held in nearly all the developed nations.

Managing diabetes - researchers from the Kaiser Permanente Center for Health Research in Portlant, Oregon, found that diabetes patients need continuous health insurance coverage for the long-term proper management of their disease .
Since the late 1990s, millions of US citizens have found themselves with absolutely no health cover at all. A collection of several different studies and surveys puts the number of "uninsured" Americans at over 50 million; tens of millions more have inadequate insurance.
A Commonwealth Fund 2011 report informed that 26% of all US citizens of working age experienced a gap in health insurance coverage; many lost their health insurance when they either became unemployed or changed jobs.
Children in the USA with private insurance are considerably more likely to have a primary care physician in America compared to those with public insurance or no insurance at all, according to a study carried out by researchers at the Children's Hospital, Boston. The authors added that levels of treatment in emergency departments varied significantly, depending on what type of health insurance they had.
Americans with long-term or serious illnesses are the least able to pay for their medical bills among the leading developed nations in the world, a Commonwealth Fund International Survey reported in November, 2011.
The Affordable Care Act made it possible for young adults aged between 19 and 25 to join or stay on their parents' health plans in 2011. A Commonwealth Fund report informed that 13.7 million young adults remained or got onto their parents' health plans; this included 6.6 million people who would not have been able to do so if the Act had not been signed.

There is a lot of controversy surrounding health care reform and insurance regulation right now. One cannot watch a news program, or read a news website, without coming across a story involving health insurance. We can expect to see many changes regarding health insurance in the years to come. In the meantime, your family is going to need health insurance to help pay for the cost of necessary medical care There are certain things that you should look for in a health insurance plan, in order to make sure that it will meet the needs of your entire family.

If you and your spouse are planning on having children, you need to find a health insurance policy that covers maternity care. Unfortunately, this is not something that all health insurance plans will automatically cover. Many will require you to purchase a rider, or an additional amount of insurance, if you would like your insurance company to help you cover the costs involved with pregnancy, child birth, and post natal care.

Ideally, you should purchase the necessary amount of health insurance before a pregnancy occurs. It can be extremely difficult to be accepted for an insurance policy after you, or your spouse, is already pregnant. Many insurance companies will use the timing of the pregnancy as an excuse, and refuse to cover any of the health care that was required due to a pregnancy. If you and your spouse are having trouble conceiving, and are interested in infertility treatments, you will need to specifically ask about it. It is best to know, without a doubt, whether or not your health insurance will cover what can be an extremely expensive form of treatment.

Bank Insurance

Bank Insurance
A guarantee by the Federal Deposit Insurance Corporation (FDIC) of deposits in a bank. Created in 1989, the Bank Insurance Fund is the federal fund used to insure bank deposits of national and state banks, that are members of the Federal Reserve System. Bank Insurance helps protect individuals who deposit their savings in banks, against commercial bank insolvency. Each depositor is insured to at least $250,000 per bank.

The FDIC, an independent U.S. government corporation, was initiated under the Glass-Steagall Act of 1933. Its purpose was to insure bank deposits against loss and to regulate banking practices. The collapse of a great majority of banks in the United States, during the Great Depression, prompted the creation of the FDIC.

Explicit deposit insurance is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability.

Car and Auto Insurance

Car and Auto Insurance

Think about your collision protection strategy as six separate strategies. A few sorts of scope are required by state law, contingent upon where you live. Others are discretionary. Consider every one and ask yourself the amount you require. Every kind of scope has its own premium. Include them up and you have the cost of your accident coverage arrangement. Subtract the ones you may not need and you increase some control over the expense.
Property harm obligation (PD) scope covers you when you harm another person’s property. Typically it’s another person’s auto, yet it could apply to structures, utility posts, carport entryways, and other physical property. State laws decide the base you must buy.
Impact scope spreads harm to your auto in the event that you keep running into another auto, a block divider, a flame hydrant, or other item. This scope is not required by law; however your bank may require it on the off chance that you have a car credit. You may pick a deductible on this scope—what you should first pay out-of-pocket for a case before the protection kicks.
Complete scope covers you on the off chance that your auto is stolen or harmed in ways that don’t include an impact. Secured dangers incorporate hail, fire, burglary, surge, seismic tremor, blast, falling questions, and experiences with untamed life, for example, and deer. Thorough is discretionary scope; however your bank may require it on the off chance that you have a vehicle advance. You may pick a deductible on this scope.
Uninsured/Underinsured driver (UM/UIM) scope covers medicinal and different costs when you are hit by a driver without sufficient accident protection. Whether this scope is required or discretionary relies on upon your state laws. You can buy extra scope to pay for harm to your auto if hit by an uninsured driver, yet numerous individuals rather simply buy impact and far reaching.
Restorative installments scope (Med Pay or MPC) goes about as essential scope for medicinal costs you and your travelers acquire if harmed in an engine vehicle mischance, paying little heed to blame. States have diverse laws with respect to this scope.
How would I read my accident protection strategy?
Your approach is a legitimate contract, so at first look it can appear to be confounding. In any case, on the off chance that you recognize what to search for and where to discover it, your strategy turns into a ton simpler to get it. Every auto and mortgage holder’s protection arrangement has three standard parts:
Assertions Page. This is the place you’ll discover your name, an announcement of the approach period amid which you are secured and the measure of premium you pay. The “dec” page likewise incorporates a portrayal of the protection scope gave and gives the most extreme dollar restrain the backup plan will pay for a case under every scope.
Safeguarding Agreement. This is the primary piece of the strategy. It portrays what the insurance agency will do in return for the premium you’re paying. The protecting understanding will likewise say who is secured: The persons named as insured’s on the presentations page, occupants of the same family and persons utilizing the auto with the consent of the safeguarded. Everything is spelled out particularly trying to abstain from misconception. Perused the definitions area and the rundown of rejections that apply to every scope. Its basic that you recognize what you are secured for and what you are not secured for when you have to utilize your scope!
States of the arrangement. This last segment depicts your obligations when you have a case, for instance the amount of time you need to report it and what documentation you must provide for the insurance agency. It additionally clarifies the terms for crossing out your strategy—both for you and the safety net provider. You can wipe out your approach whenever, however your protection supplier might just scratch off under specific conditions and with early notification to you.

Substantial damage obligation (BI) scope covers you on the off chance that you cause a mischance in which another person is harmed or murdered. State laws contrast with reference to the amount you are required to convey. Numerous monetary specialists prescribe conveying at any rate $100,000 per individual and $300,000 per occurrence – normally communicated as “100/300.” Consider what resources you need to ensure and what you can manage the cost of when choosing the amount to buy.

No matter what kind of vehicle you drive, a car, truck, SUV, or minivan, it is something that your family relies on. The privilege of driving comes with great responsibility. You can protect your family by practicing safe driving habits, and following the rules of the road. Auto insurance can provide you, and your family, with financial protection in case your vehicle is involved in an accident.
Your vehicle is what transports you to work, so that you can make the income you need to support your family. Your vehicle helps you take your kids to school, and helps you pick them up after school is over. It makes picking up the groceries that feed your family a whole lot easier.
It is easy to see how much more difficult your life would be if you no longer had your vehicle, or if your vehicle became damaged. Auto insurance can step in, and help you out, in case something happens. Without it, you will have no option other than to pay for the cost of repairs entirely out of your own pocket. This can often prove to be more expensive than your family can afford.
A typical auto insurance policy is made up of many parts. These parts include: bodily injury liability, property damage liability, comprehensive coverage and collision coverage. Your policy may also include parts that protect you in case your vehicle is involved in an accident with an uninsured, or under-insured, motorist.
Bodily injury liability covers the cost of medical care that is required by a person who becomes injured in a car accident that you are responsible for. It also covers replacement of their lost income due to the injury. Bodily injury liability also provides you with legal defense if that person decides to sue you. This part of your car insurance does not cover injuries that you, or your family, receive in an accident.

Life insurance

Life insurance.

The goal of life insurance is to provide a measure of financial security for your family after you die. So, before purchasing a life insurance policy, you should consider your financial situation and the standard of living you want to maintain for your dependents or survivors.

Life insurance provides protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.
When using the site to quote your insurance needs, we make it easy for you to view life insurance options available for purchase in a package designed to meet all your insurance needs.
Term life insurance
Term life insurance is the most basic form of life insurance. It provides coverage for a specified period of time (e.g. 1, 5, 10, 15, 20, 25, or 30 years) in exchange for a specified premium. If the death of the insured individual occurs within this period of time or term period, the insurance company will pay the death benefit. If the term period expires while the insured individual is still living, the policy terminates and no death benefit will be paid.
The two main types of term life insurance policies are level premium term life insurance and yearly renewable term life insurance.
Whole Life
In this more traditional life insurance policy, the premiums stay the same over the life of the policy, which stays in effect until your death, even after you’ve paid all the premiums. A cash reserve is built up, but you have no control over how it’s invested.
Universal Life
You can vary the amount of your premium with Universal life insurance policies by using part of your accumulated earnings to cover part of the premium cost. You can also vary the amount of the death benefit. For this flexibility, you’ll pay higher administrative fees.
Variable Life
Variable life polices build up a cash reserve that you can invest in any of the choices offered by the insurance company. The value of your cash reserve depends on how well those investments are doing.

Open Enrollment for 2016 benefits may be over, but you can change your supplemental life insurance coverage anytime.
As you may know, MetLife administers Vanderbilt’s life insurance plan. If you are fully benefits-eligible, Vanderbilt pays for basic life insurance equal to your annual base benefits rate. You can find this by logging in to C2HR and clicking on the “Job Information” tab. For most employees, the annual base benefits rate is your annual salary.
You can purchase supplemental coverage of one, two or three times your salary. The maximum coverage, including the basic life coverage Vanderbilt pays for, is capped at $500,000 unless you are approved for additional coverage by MetLife. Total coverage is limited to $1 million.

Life insurance is something that many people overlook. In most states, you are required to purchase auto insurance. If you are lucky, you can get health insurance from your place of employment. Life insurance is something that people tend to put off, perhaps until when they have a little extra money to spend on it. However, there are many good reasons why you, and your family, need life insurance.

A life insurance policy provides some financial assistance to your family if you, the insured person, passes away. Term life insurance policies can be used to help your spouse pay off the balance of your mortgage. It provides an assurance that your spouse and children won't end up losing the house after you are gone.

Life insurance can also be used to replace the lost income of the deceased person. You and your spouse planned a life together, and that life very likely required two incomes in order for it to continue. A life insurance policy can provide you, and your spouse, with peace of mind. You can rest assured that the lifestyle and standard of living that your spouse and children are accustomed to can continue after you are gone.

One of the most immediate things that a life insurance policy is designed for is to cover the final expenses of the insured person. No one wants to have their family struggle to cover funeral expenses, burial costs, and the medical bills that your health insurance policy didn't cover, especially while your family is grieving for your loss. Your life insurance policy will cover those expenses, and ease the burden on your family in this extremely emotional time.