Why You Should Consider Life Insurance

Life Insurance

Life insurance can be a daunting topic to think about, but it is an essential part of sound financial planning. Here are some of the main benefits of life insurance and how it can protect the ones you love.

Being Prepared

A life insurance policy stands as a safeguard against uncertainty. Most families face hardship when they lose the primary earner. Some of the costs that life insurance can help cover are:

  • Unpaid debts
  • Funeral expenses
  • General living costs
  • College funding

A policy is a good idea for anyone who has a family. It can help to provide care for a spouse, children, or aging parents.

Choosing Wisely

There are several different types of life insurance policies that vary based on individual needs. You’ll want to find one that meets your lifestyle and requirements. Some of the more common policies are:

  • Term Life
  • Whole Life
  • Universal Life

These policies differ in their requirements for withdrawing funds. Some policies can also provide a source of helping with college tuition and down payments on a home.

The benefits of life insurance are having peace of mind and caring for the future of your family. Having coverage is a way of helping those you love most through what is otherwise a time of difficult loss.

4 Things to Know About Insuring Personal Watercraft

Insuring Personal Watercraft

Though not always required by law, purchasing a personal watercraft insurance policy can help keep your hobby from turning into a financial nightmare. Since your PWC isn’t usually covered under an auto or homeowner policy, there are few things to keep in mind when deciding to purchase PWC insurance.

Know the Coverage Areas

A general PWC policy has three coverage areas. These include bodily injury, property damage, and medical payments. There is often a deductible before claims are made, and there will be liability limits.

Insure Each Watercraft

You will need to make sure each PWC you own is insured, but depending on the agent you use, you may not need separate policies. Some boat insurance policies can be written to include PWCs in the coverage.

Get to Know Your Policy

If you decide to loan your PWC to someone else, make sure coverage includes anything that happens if this occurs. Make sure there is coverage for bodily injury, death, property damage, and any negligence on account of the PWC operator at the time.

Buy Supplemental Coverage

Depending on who you choose for an insurer, there may be gaps left in the coverage. Always look to purchase the most comprehensive policy, or secure additional coverage as needed.

An accident involving a PWC can have serious consequences. Make sure you have followed your state laws requiring insurance coverage.

Finding the Best Nightclub Insurance during COVID-19

Nightclub Insurance

Nightclubs provide a needed escape for their patrons. On the dance floor and at the bar, people can forget their worries and enjoy the time with their friends. For anyone running a club, though, there is a strong awareness of the various liabilities that nightclubs face. These liabilities are even more heightened during the era of COVID-19 when the risk of illness and injury has only increased. In looking at nightclub insurance programs, business owners should secure a package that protects them from numerous threats.

Types of Nightclub Insurance

Obviously, patrons come to the club for drinks, dancing, and fun. While any club goes to lengths to protect its guests, incidents still occur. A comprehensive insurance package should include the following policies:

  • General liability – protects against claims filed by injured patrons
  • Alcohol liability – covers alcohol-related injuries
  • Assault & Battery – covers fights between patrons
  • Products and Completed Operations – covers food poisoning and other incidents connected to services

Protecting Against Various Threats

While everyone at the club is there to have a good time, accidents can happen, but with the right insurance, clubs can protect against any type of threat. During a time when businesses are more liable to illness-related incidents, it is important to have the appropriate level of protection and maintain the care-free atmosphere of the club space.

Minimizing Risk Exposure as a Business Owner

Minimizing Risk

Running a business often requires the foresight and strategy of a seasoned chess player. Managing potential risk can play a fundamental role in a companys ability to maintain performance and assure longevity. Business owners should be aware of the potential liabilities they are exposed to in situations where they may not be directly involved. This risk exposure is known as a contingent liability.

What Is Contingent Liability?

Contingent liability holds a business owner legally responsible for any injury or losses incurred vicariously through a third party that is hired by that company.

For instance, if a company hires an independent contractor to renovate its property, any injuries sustained due to unsafe conditions, such as simply slipping on a wet floor, could leave the company liable to any lawsuits brought against the independent contractor. Source: https://www.usrisk.com/2018/07/the-importance-of-contingent-liability-insurance/

How Does a Company Minimize Risk Exposure?

Occupational insurance policies cover liabilities involving third-party employees, including contractors and agents hired by a company. In many instances, this coverage can be an alternative to workers compensation. In comparison to workers compensation policies, occupational insurance is often more affordable while still covering any injury or loss incurred by an employee.

Obtaining a contingent liability insurance policy will help you rest easy knowing you are protected in those instances that you may not have seen coming.

How to Stay Safe While Driving for a Rideshare Company during COVID-19

Rideshare Company during COVID-19

If you drive for a rideshare company such as Uber, you’re probably reasonably concerned about being safe as an increasing number of individuals are being diagnosed with COVID-19. Here are a couple of things to keep in mind about precautions.

Remember That Masks are Essential

Rideshare driving during COVID-19 requires a high degree of vigilance about maintaining a safe environment for both yourself and the people who you’re driving. The most important thing to be conscientious about is wearing a mask and ensuring that passengers are wearing a mask before they enter your vehicle. Masks need to cover a persons face and nose.

Clean Frequently Touched Surfaces Often

The Centers for Disease Control recommends cleaning frequently touched surfaces often such as door handles with an antibacterial cleaning product. Be sure to clean the handles on the inside and the outside of your vehicle as often as possible. While you should focus on surfaces that are touched most often, you should clean all surfaces within your vehicle to lessen the likelihood that viral bacteria can linger inside anywhere.

Working in any type of field that puts you in close proximity to other people puts you at a higher risk for contracting the virus. Wearing a mask and following all applicable CDC guidelines can help ensure that you and your passengers will have a reduced risk of exposure.


What is USLH?


Most employers are familiar with the term workers compensation and the related insurance policies. Laws to protect workers have been on the books for over 100 years. However, when the workers comp laws were written they did not include activities in the maritime industry. This is where the Jones Act was adopted and applied similar protections to seamen on U.S. vessels.

This left a gap in coverage for some employees that worked on or near the water but were not considered seamen. The USL&H Act was then passed several years later to provide those workers with protections. USL&H stands for the United States Longshore and Harbor Workers’ Compensation Act.

Why Do You Need Insurance?

Your company is likely a candidate for USL&H insurance if it is involved in shipbuilding, ship repair or dock work. You will also need USL&H insurance if you are a contractor bidding on a project that involves work covered under the act. This is typically any work being performed on navigable waters or adjacent to the water. Some examples include the following:

  • Marine railway
  • Wharf
  • Pier
  • Dredging barge
  • Dry dock
  • Loading terminal

USL&H insurance is necessary when your employees are doing work that meets a certain criteria. If youre not familiar with these laws then a marine insurance professional can help you understand when it is needed.

Learn How to Determine the Value of Classic Cars

classic car valuation?

If you are a classic car enthusiast, owning your car can be a dream come true. Once you’ve scoured the market for a car and found the one that you’re ready to bring home, its time to think about value and insurance. What do you know about classic car valuation? If you’re new to classic cars, there are a few things that you need to know.

The authenticity of the Vehicle

Authenticity is important when it comes to classic cars. If you can find a classic car that still has an authentic paint job and the authentic parts to go with it, then you are going to have a higher value vehicle. A lot of classics have new replacement parts. While this can help the vehicle run better, it can lower the value.

Problems With the Vehicle

Classic cars require a lot of maintenance to keep running. You should not put the same wear and tear on the classic car that you do on your everyday vehicle. Most classic car insurance policies require you to only drive your car for a certain number of days or month throughout the year.

When it comes to classic cars, you need to be aware of the factors that can increase or decrease the value. To protect any investment you have, insurance is always the best option too.

The Who’s and What’s of Group Disability

Group Disability

As companies find it difficult to attract and retain top talent, many are making sure their benefit programs are competitive. Often overlooked, disability insurance is an income protection benefit that will bring value both to the company and to its employees.

Who Can Offer Group Disability Insurance?

Businesses with 10 or more employees can offer a group disability policy. These types of policies are flexible and allow the company to design a plan that meets their budget. Employers can also define whether the plan is paid by the employee, employer, or some combination of the two.

With a group policy, buying power is leveraged so the plan can offer lower premiums than if an individual sought a disability policy on their own. It makes these plans very affordable and attractive to both employees and employers alike.

What Does Group Disability Insurance Cover?

There are two types short term disability (STD) and long term disability (LTD). If an employee is disabled due to illness or injury, depending on the plan, STD provides between 40-60% of the employees base wages for up to a year. LTD provides a disabled worker up to 70% of their income for a specified duration of 5-10 years or through retirement age, depending on the plan.

The ability to generate income is a persons greatest asset. Disability insurance is a great way for the employer and employee to protect that investment.

4 Ways Small Businesses Can Limit Liability

Small Business

Running a small business brings many challenges. One of them is limiting your small business liability and exposure to risks. Use proven strategies to limit that exposure as you successfully manage your business.

1. Always Follow Laws and Regulations

Educate yourself about any rules that apply to y our business and industry and then work to stay within their scope. From HR decisions to tax responsibilities, if you follow the rules you will stay in the clear.

2. Stay Within Your Scope of Expertise

Do not offer services or advice that are beyond what you are qualified to do. This presents a major risk, especially if someone is harmed by following your advice. Legal and medical professionals are particularly at risk in this area, but they are not alone.

3. Keep Accurate Records

Documentation is important if you want to prove your side of an argument. It can also help you get a better understanding of what is going on inside business operations. Keep records for the required length of time. Digitize them to make storage and retrieval easier.

4. Transfer Risk to Insurance Providers

Research into small business liability shows that the right insurance coverage can transfer risk to the policy provider. Talk to an experienced agent to find out what types of coverage will mitigate your business risk.

Dont let the challenges of running a business put you at risk. Take proven steps to manage it effectively and control losses.

Complying With Michigan Automotive Requirements

Michigan no-fault law

Many states have special regulations concerning automobile operations by licensed drivers. In Michigan, every individual that purchases a car must comply with Michigan no-fault law and buy certain basic coverage before the DMV will issue license plates. It is against the law to drive without this coverage, but it also protects you financially.

Accident Blame

There are some accident scenes where it is difficult to pinpoint who was at fault for the wreck. With no-fault insurance, the policy covers the situation regardless of who caused the accident. The policy will assist with medical expenses, lost wages, replacement services, and damage that may be done to another property. The coverage won’t pay for repairs to your car.

Three Parts to the Policy

The law requires that you have three separate parts to your policy.

  1. Personal Injury Protection. This pays all reasonable and necessary medical expenses without a coverage limit. It also covers up to 85% of any lost income.
  2. Property Protection. This portion pays for up to $1 million in damages that your car may cause to another property.
  3. Residual Liability Insurance. This is an additional coverage against lawsuits claiming bodily injury, death, disfigurement, or property damage.

An insurance broker familiar with Michigan law will be able to evaluate your coverage needs and underwrite a policy that keeps you compliant with the no-fault law.