A Word From Our Sponsor On Finding Professional Liability Insurance

Finding the right professional liability insurance policy begins with finding the right commercial insurance agent. You need an experience agent who specializes in errors and omissions insurance to review your liability risk. Your professional liability agent should be familiar with and knowledgeable about liabilities for the industry your business operates in. Errors and omissions insurance policies are highly customized, so having this type of knowledge and expertise in your insurance agent is critical.
Work together with you agent to consider key factors regarding the appropriate professional liability insurance policy for your business. Begin by considering the professional services that your business provides. These should be specifically covered in your errors and omissions policy, which should spell out each service individually and with detail.
Next you need to carefully consider the professionals that are carrying out services for your company. As any company, you will have a myriad of professionals that are used to carry out your business obligations. Common examples are part time and full time employees, subcontracted individuals, or subcontracted committees or groups. Some policies will not cover dealings or services that are provided outside of your corporate entity. Other policies will cover independent contractor services, but not the professional(s) performing these services. A professional liability insurance policy that excludes such service providers leaves significant gaps in coverage and opens up your business to unacceptable risk.

A Word From Our Sponsor On Different Types Of Construction Bonds

Bonds are a different type of insurance. They are usually short term and have a very specific function. There are several different construction bonds that cover different issues that may arise when doing a construction project. Any of these bonds can be written through one of the Maryland construction bonding companies.
A tender or bid bond is submitted with a bid for a job to prove to the project owner that the contractor will honor their bid. It is also proof that the contractor, if hired, will be able to purchase a performance bond as well. In a performance bond the insurance company has a set value of funds that are available. These funds are in place in the event the contractor was to default; the owner would not be out the additional money to have the project for which the contractor was hired to be completed.
A maintenance bond is similar to a performance bond in that it provides yet another guarantee to the project owner. In this case the maintenance bond will guarantee the contractor will fulfill their obligations of the written contract. This extends to any maintenance or defective work.
The most beneficial bonds may be the stage payment bonds or advancement bonds. These types of bonds provide the contractor with a direct service. These bonds give the contractor funds to purchase the necessary supplies to begin the job without impacting their cash flow.
All of these bonds can be purchased with the help of an insurance agent and Maryland construction bonding companies.

A Word From Our Sponsor On Why Property Owner’s Insurance Is Important

Buying property for your business is about more than just ownership. It’s an investment. It’s a financial investment and it’s an investment in your own personal goals and dreams. Something like that can’t be taken lightly and ought to be protected. General insurance plans aren’t enough to cover the extra risks associated with property ownership. That’s why it is important to find a business property insurance NJ company that will fit your needs. There are plenty of benefits to getting the right kind of insurance for your property.
First of all, you don’t want to pay for premiums and extras you don’t needs. However, you do have unique risks that must be addressed. If you don’t get the proper coverage, and later on have a claim that isn’t covered, not only are you left with a heavy financial burden, but you may also feel like you’ve wasted a lot of money paying for insurance. A good business property insurance NJ company will tailor a plan to fit your needs. They will also offer plans designed specifically for business property ownership. This is important because if the insurance plan is not designed with property owners in mind, there may be additional coverage added that normally wouldn’t be included. That means additional charges for you.
Property owners insurance will usually cover a wide variety of properties such as offices, warehouses, business-owned residences and more. They will often even cover more specific risks like crime, flood, inland marine or cargo. With so many options, you’ll be sure to find a business property insurance NJ program that’s right for you.