Fender-benders – Your Guide to Minor Accidents

| posted in Blog, Newsletter

It can easily happen, you misjudge the space when making a turn in close traffic or in a parking lot and you tap another car’s rear bumper. The other driver gets out his car and appears unhurt. He inspects the bumper and says “Let’s just forget about it.” You agree and go on your merry way. A few weeks later, however, your insurance company informs you that the man is suing you for lost wages, neck injuries and pain and suffering. Where did you go wrong? The so-called accident was only a tiny tap that barely scratched paint. There couldn’t…
Read More

Managing Your Corporate Vehicle Exposure

| posted in Blog, Newsletter

Automobiles are one of the most significant exposures to loss a company can face. To ensure that you effectively manage your company’s vehicle liability and risk exposure you need to have an effective risk management strategy. Without one, the consequences to your company’s bottom line can be severe. With one, you can reduce your total cost of risk and protect your finances. This article looks at the various types of exposure your company may face, how to mitigate risk and how to implement a strong corporate vehicle policy. Company-owned Autos An essential part of your risk management strategy is a…
Read More

Had an Accident? Put Your Smart Phone to Use

| posted in Blog

AUTOMOBILE ACCIDENTS happen every minute of the day. But according to the National Association of Insurance Commissioners (NAIC), most people do not know what steps to take or what information to share – or not share – after an accident. They may even put their identities and safety at risk by sharing too much personal information. To combat identify theft and also help motorists in gathering all the info they need to properly file a claim, the NAIC recently introduced its Wreck Check mobile application for use on iPhones and Android devices. A recent NAIC survey revealed consumers were unsure…
Read More

Hi-Tech Safety Features Cost More to Insure

| posted in Blog

Many people assume that safer cars always mean lower insurance rates. While this used to be true in the days of daytime running lights being a major safety innovation, many of today’s advanced safety features do not lower premiums. Hi-tech features that require apps, computers and other expensive electronics to function are actually more expensive to insure. High safety vs. high cost Some of the best modern cars boast crash-prevention systems and other state-of-the-art technologies. From blind-spot detection to parking assist, features that include sensors and cameras are costly but are included on most modern vehicles. One of the reasons…
Read More

Unreported Changes Can Mean Big Costs, Be Sure to Tell Your Insurer of Any Material Changes

| posted in Blog

One important risk that many policyholders are not aware of is failing to notify their insurer or broker about material changes that could affect their coverage. Various events should trigger you to inform your carriers – for example, if you purchase new equipment, hire new staff, buy a new building, or expand your operations. And depending on the type of change, it could cut across different lines of insurance, like workers’ compensation and employee benefits. Here are a few examples of how these potential changes can affect your policies, both commercial and personal. Workers’ compensation Hiring new employees – While you…
Read More