Insurance Services

A long-term disability policy is activated, replacing a portion of your lost income, when you are unable to work for an extended period. Employers cover approximately 40% of all workers with some form of company-paid disability insurance. If you buy it on your own, you may have to pay up to 40 cents per $100 of monthly coverage.

If you're buying, you should try to get a noncancelable policy with benefits for life, or at least to age 65, and as much salary coverage as you can afford. Insurers will cover up to 65% of your salary. You should have total coverage equal to two-thirds of your current pre-tax income.

If your company provides disability insurance, check to see whether it's enough for your needs. Group disability insurance policies may be capped at six months and provide benefits that won't cover your expenses.

With an aging population and uncertainty about the future of Social Security, insurance to cover the high cost of the nursing home or at-home health care is the focus of increased concern. Medicare pays very little of the cost of long-term care in the United States. Medicaid will pay for the care, but only for patients who meet strict income eligibility requirements. With Congress always debating the future funding of these programs, financial planning for long-term care is more crucial than ever.

So-called Medigap insurance can help pay medical expenses of the elderly not covered by the Medicare system, including long-term hospital care. But Medigap policies are expensive and complex. And, it doesn't cover custodial nursing home costs. In fact, about half of all nursing home residents pay for the care with personal savings, according to Medicare. Senior organizations, such as the AARP (formerly known as the American Association of Retired Persons), can provide information on long-term care insurance. Insurance policies contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Because we understand your needs as well as the role of the various kinds of insurance within an individual financial picture, we can help you with the policies that are most appropriate for you and can provide you with costs and complete details.

Business insurance coverage protects businesses from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability, and employee-related risks. Companies evaluate their insurance needs based on potential risks, which can vary depending on the type of environment in which the company oper

It is especially important for small business owners to carefully consider and evaluate their business insurance needs because they may have more personal financial exposure in the event of a loss. If a business owner does not feel he or she has the ability to effectively assess business risk and the need for coverage, they should work with a reputable, experienced and licensed insurance broker. You can obtain a list of licensed agents in your state through your state's department of insurance or the National Association of Insurance Commissioners.

Also known as commercial lines insurance, these coverages include property and casualty insurance products for businesses. Commercial lines Insurance helps keep the economy running smoothly by protecting businesses from potential losses they couldn’t afford to cover on their own, which allows businesses to operate when it might otherwise be too risky to do so.

Commercial policies may be contrasted with personal lines insurance.

Several types of business insurance that small business owners might consider, including the following:

Professional liability insurance insures against negligence claims that result from mistakes or failure to perform. There is no one-size-fits-all professional liability coverage. Each industry has its own unique concerns that should be addressed.

Property insurance covers equipment, signage, inventory, and furniture in the event of a fire, storm or theft. However, it doesn't cover mass-destruction events like floods and earthquakes. If your area is at risk for these issues, you'll need a separate policy. Another exception is personal property that is very high value and expensive- this is usually covered by purchasing an addition to the policy called a "rider." If there's a claim, the property insurance policy will either reimburse the policyholder for the actual value of the damage or the replacement cost to fix the problem.

Homeowner’s policies don’t cover home-based businesses like commercial property insurance covers businesses. If you're operating a home-based business, inquire about additional coverage for equipment and inventory.

If your business manufactures products to sell, product liability insurance is very important. Any business can find itself named in a lawsuit due to damages caused by its products. Product liability insurance protects a business in such cases.

Any vehicles used for business should be fully insured. At the very least, businesses should insure against third-party injury, but comprehensive automobile insurance will cover the vehicle in an accident, as well. If employees are using their own cars for business, their own personal insurance will cover them in the event of an accident. One major exception is if a person is delivering goods or services for a fee, including delivery personnel.

Business interruption (or continuation) policies are a type of insurance that is especially applicable to companies that require a physical location to do business, such as retail stores or manufacturing facilities. Business interruption insurance compensates a business for its lost income during events that cause a disruption to the normal course of business.

A business owner policy (BOP) combines protection for all major property and liability risks in one insurance package. This type of policy assembles the basic coverages required by a business owner in one bundle. However, it is usually sold at a premium that is less than the total cost of the individual coverages.

Workers’ compensation insurance is a type of business insurance that provides benefits to employees who suffer work-related injuries or illnesses. Specifically, this insurance helps pay for medical care, wages from lost work time and more.

Workers’ compensation coverage helps protect your business in three ways. These include: covering employee illnesses and workplace injuries, protecting your business from lawsuits, keeping your business compliant with state regulations.