COMMERCIAL INSURANCE

If you are own a dental office/building, you know there are many aspects of it that need to be adequately safeguarded from the numerous risks that present themselves. Whether it’s your office building, high tech dental machinery, patients’ medical records, or computers, you need to have the right type of business insurance for your dental office, so you will have the insurance protection you need to ensure the peace of mind you deserve. Imagine… Suppose you have a new patient that needs a filling and the numbing procedure is administered. This particular patient has a negative reaction and breaks out into a rash, experiences difficulty in breathing, vomiting, and seizures. After undergoing medical treatment, your [...]

As a business owner, you value your business investment, as well as your employees. After all, your employees are the backbone of your business and shouldn’t they be protected? In North Carolina, if an employee gets injured or sick as a result of work related activities, then that employee is entitled to workers’ compensation benefits, but do you know the N.C. Workers’ Compensation requirements? Who Qualifies as an Employee? The Workers’ Compensation Act of N.C. states that if your business employs 3 or more people then you must carry workers’ compensation insurance for your employees, but which people qualify as an “employee?” Below are some of the definitions of “employee”, but not limited to: Each [...]

Today, more and more people are operating businesses out of their own homes and while that sounds modern and convenient, it won’t be if an unexpected accident happens and you lack the right type of insurance needed. Many people don’t realize that their standard N.C. homeowners insurance policy provides limited coverage for their home-based business, so you need to find out whether you need insurance for your home-based business. Accidents Happen Imagine that you run a personal training business out of your home and one of your long-standing clients is at your home working out and injures his back performing an exercise. With no history of back issues, your client is now claiming he got [...]

When you travel on the highways and see motor carriers, you may only consider the transporting of goods from one location to another; however, there are many insurance issues going on right now involving the required minimum insurance limits. Present insurance limits were set in the mid-1980s, and in the last few years, groups have claimed the current minimum insurance limits are too low to cover the costs of today’s crashes; however, The Federal Motor Carrier Safety Administration (FMCSA) has officially stated the proposed minimum liability limits increase has been withdrawn, citing that a lack of information/sufficient data was not provided to back up a need for an increase. The FMCSA did a study that [...]

As a storeowner, you have to juggle a lot of tasks on a daily basis and protecting your livelihood is right there at the top of your priorities. As you know, you have to be prepared to handle any unexpected mishaps that can and will occur, so while you know your business can be risky, you can minimize financial risks to protect your unique investment by being aware of the most common risks storeowners face. Can You Afford for This to Happen? Imagine getting a phone call at night stating that your store is up in flames, your building and entire inventory is destroyed, and now you can’t deliver promised goods to your customers. This [...]

Your business world constantly changes and while it may mean growth for you, it is vital that you keep up with the business changes in order to stay current on the types and amount of coverage you need to adequately protect your small business. Do you know if it is time for a commercial insurance renewal review? If you are not sure, it may be time to contact your N.C. independent insurance agent to find out if any of your business changes require changes in your commercial insurance coverage. Changes in Your Business May Mean Changes in Your Commercial Coverage Prior to your insurance renewal (usually 2-3 months), you need to compose a list of [...]

When you took out your N.C. business insurance policy, your premium was figured by the information provided by you to your agent at the time of policy inception. A premium audit is designed to ensure your figured premium is still accurate at the end of your policy year. Although premium audits are a standard practice in the insurance industry, it is important to know how to prepare for a premium audit. How Does an Audit Work? Since your premium amount was declared before any business operations took place, the auditor must continuously review your premium at the end of your policy period to confirm the premium is an accurate reflection of what your business activity, [...]