April, 2018

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Understanding the Risks of California Home ownership

insurance in Torrance, CA

Few things are more exciting than looking for your dream home. As one of the most significant investments you will likely every make, your home deserves protection and care. Still, owning a home in California exposes you to risks that homeowners in other parts of the country never face. With the right insurance in Torrance, CA, you safeguard your house from California-specific hazards.

Storms

From severe thunderstorms to blizzards, California’s climate spawns the sort of tough storms that can destroy your home. While a multi-national insurer may not know the unique risks storms pose to California homes, a local insurer can likely use his or her expertise to recommend adequate coverage.

Earthquakes

California homes are susceptible to earthquake damage. Ask your insurance provider whether your home is in a quake hot spot. If it is, be sure you have enough insurance to cover all replacement costs.

Fires

Parts of California have been incredibly dry in recent years. Instead of leaving your homes condition to chance, check with your insurer to see if you are protected from wildfire damage.

Even if your home doesn’t fall victim to storms, earthquakes or fires, it may sustain damage from vandalism or other criminal activity. To keep your home safe, be sure you have comprehensive insurance in Torrance, CA. By working with a skilled agent, you have the tools you need to protect your most significant investment.

Practice Best Boating Safety Policies

insurance for California boats

While you will certainly need insurance for California boats the cost may be significantly less when you put routine boat safety into practice. When planning a trip along the waterways, before you launch your craft, you should check the local weather forecasts prior to sailing to ensure boating conditions are favorable. Always tell someone you know the area where you plan on going and the approximate time you expect to return, especially if you’re going alone.

Perform safety checks on your engine, fuel, and electrical and steering systems, especially for concerns like exhaust-system leaks. There literally are thousands of recreational boating accidents each year, often resulting in injuries and/or damages. Some of the factors associated with boating calamities include driving too fast for conditions, driving while under the influence of drugs or alcohol, or failing to follow boating rules and regulations. Coast guard officials also cite cases where accidents were due to carelessness or the inexperience of the driver navigating the craft.

You are responsible for anyone traveling on your boat

Anytime that you have passengers travelling with you always pay close attention when having them load onto or off of the boat. Distribute the load evenly making certain not to overload your craft. Warn passengers not to stand up or to suddenly shift their weight as this could capsize a small vessel. Don’t permit anyone to ride on the bow, seat backs or gunwales and make certain that each person on board is wearing a life jacket.

When travelling in shallow waters always keep on the look out for other watercraft, swimmers, floating debris and rock formations that jut out of the water. Doing so will give you time to steer clear and avoid the potential for injuries to occur.

Your vessel should be properly equipped with required navigation lights and a safety whistle, horn or bell in order to sound alarms. Make sure to have on hand the necessary amount of life jackets and emergency safety devices such as paddles or oars, a first-aid kit, a supply of fresh water, a tool kit and spare parts, a flashlight, flares and a radio. Carry one or more fire extinguishers readily accessible and in proper condition for immediate use.

Following these measures can help ensure a fun and safe trip for everyone involved. Your insurance for California boats is designed to aid you in the event that something happens to go wrong.

 

What is the Difference Between Tail Coverage and Extended Reporting Coverage?

insurance tail coverage definition

The short answer to the question Whats the difference between tail coverage and extended reporting coverage? is that there is no difference. A solid insurance tail coverage definition can tell you why.

Tail coverage is a benefit to various forms of errors and omissions insurance, including lawyers professional liability insurance and different types of malpractice insurance. Those insurance products are written on a claims-made basis. For the insurer to cover the claim, the claim must be made against the business professional and reported to the insurance carrier during the time the policy covers. For example, if the liability policy covers the insured between January 1 and December 31, 2018, the claim must be made during that same time frame.

For claims made within a reasonable time after the expiration of the policy, extended reporting coverage will allow coverage of those claims. Because that benefit occurs after the policy has expired, or at the tail end of the coverage, it is sometimes called tail coverage.

Those insured by tail coverage must remember that extended reporting coverage typically comes with a time limit, usually no more than a year after the expiration of the original policy. Also remember that work conducted after the expiration period, but during the tail coverage period, will not be covered.

Because Even Engineers Arent Perfect

E&O insurance for engineers

Errors and omissions by professionals like engineers can have a huge impact on the construction of any building. This weight of responsibility for a rigid timeline, exceptional design and attention to detail can create a high probability for claims. E&O insurance for engineers from a top insurance company can alleviate the stress so the focus stays on the construction, not the risk involved.

Facing Some Of the Main Issues

There are many things that could potentially go wrong during the construction process. Even the most skilled professionals are at risk for issues like

  • Improper implementing of the original design, putting the progress of the construction behind
  • Extended completion dates, causing the owner loss of time and money
  • Overlooking a design component, leading to additional blueprint changes and reconstruction

Finding the Right Insurance Company to Face These Issues

Because even the most talented experts arent perfect, its important to find an insurance company that will provide quality E&O insurance for engineers. Look for an insurance provider that can handle any companys needs regardless of its size, and provide for both individuals and firms. They should be able to customize an insurance plan to fit exactly what is needed.

Dont take any chances when dealing with the potential for errors and omissions claims. Having the best insurance company on your side keeps the focus on what you do best and not on potential risks.