Don’t simply sign up for flood insurance in Trenton NJ and tuck it away until the tide starts to rise. Know what is and what isn’t covered by your policy in order that you know what kind of protection you’re getting and if you need to take out a special policy to fill in the gaps. So just what is commonly protected under your flood insurance?
Examples of protected personal contents include electronic equipment, window air conditioners, washers/dryers, freezers and the food in them, and carpets that aren’t included in your homeowners policy.
Your flood policy covers your home as well as its foundation, plumbing and electrical systems, refrigerators, ovens, your detached garage and the HVAC system. You’ll also be pleased to know your insurance also takes care of any debris removal you need after the flood waters have subsided.
The most important thing to bear in mind with flood insurance and basements is that your policy has limits when it comes to areas underneath the lowest elevated floor. Besides basements, other areas with limited coverage include crawlspaces beneath an elevated property and “walkout basements. Be sure you talk with your agent about additional coverage for areas underneath your home’s lowest elevated floor.
Sit down with your insurance agent to discuss your flood insurance policy as well as any other policies you have to make sure you’re ready for the flood of contingencies that can befall you and your property.
Many devastating lawsuits against professional firms are brought on the basis of a mistake by an employee. Errors such as accidentally leaving out important information from a form, failing to enter an important calendar date, misplacing a document or making an inaccurate calculation can all cause serious damage to the client, ranging from monetary loss to personal injury. Even if your firm has excellent employee training and anti-error protocols, there is no way to ensure that no mistake is ever made.
Other Policies Will Not Protect You
Some professionals, while acknowledging the seriousness of the potential consequences of a mistake, believe that resulting claims will be covered by their firm’s liability insurance. However, most general liability policies exclude professional services. Your own professional liability insurance may also not necessarily cover negligent acts or omissions by your non-professional subordinates, although your firm can still be on the hook when it comes to resulting damages.
Look for Individualized Coverage
The most effective way to protect your firm from loss due to claims based on errors and omissions is to select a dedicated Errors & Omissions policy to cover this particular scenario. Consult an insurance provider offering policies for Errors and Omissions in New Jersey to determine which is best for you. E&O policies can differ in scope and coverage, so it is important to chose the one that addresses your firm’s risks.
As a contractor, you face some hazardous work environments. Although it seems like a lot to handle, you can rest easy when you have insurance coverage to soften the blow of a bad situation. What are some scenarios in which insurance for contractors in Clifton, New Jersey might come in handy? The following are just a few:
- Workplace Injury – Your employees are put in some menacing situations. They often work around deep holes, have to use sharp and fast equipment, and are sometimes subjected to a lot of heat during the day. Even when you take every precaution possible, accidents can happen in the workplace. A workplace injury needs the protection and compensation of insurance.
- Broken Equipment – Your equipment and tools do a tough job. While they are made to withstand a lot of pressure, hard materials and a lot of use, they can wear out or break. It can get expensive to replace some of the items you use on a daily basis, but with insurance coverage, you don’t have to sweat the costs.
- Lawsuits – Whether you dug in the wrong place and shut off the neighborhood’s water supply, flung a piece of rebar into the neighbor’s yard and put a hole through the roof, or dumped a load of dirt on someone’s flowerbed, you could get sued. Proper insurance coverage will help you in case you are faced with a lawsuit.
Insurance for contractors in Clifton, New Jersey is an important part of business. If you are a general contractor, make sure you protect your assets with proper coverage.
Contractors have a lot of unique risks associated with the jobs they perform on a regular basis. While it might seem simple and routine to the contractors, there are accidents that happen. If you are a contractor and are just looking into New Jersey contractors insurance, the following will help you understand why it is needed.
- Peace of Mind – Whether you use heavy equipment, work in dangerous areas or know your employees don’t pay attention to safety sometimes, it can be worrisome to think all day about what could go wrong and how you would pay for it. Insurance gives you that peace of mind that allows you to focus on the job at hand.
- Protection – You never know when something will happen and when someone will need the protection that comes from insurance. Unfortunately, even in the most controlled and careful situations, accidents can happen. Protect yourself, your company and your assets with insurance coverage.
- Responsibility – When all else fails, know that you are responsible for your employees, your assets, your company and everything associated with it. It’s a big responsibility, and one you cannot take lightly. It’s the responsible thing to do to purchase a complete insurance package.
To learn more about New Jersey contractors insurance, speak with your insurance agent. It’s an important part of your business, and something you may want to look into before you accept another job.
Flooding poses a huge threat to businesses everywhere and unfortunately, many business owners believe that their general commercial property insurance will cover their business if it was ever damaged by a large flood. However, this type of business insurance in East Rutherford New Jersey doesn’t protect business owners from flooding. Therefore, flood insurance should be an essential component of every business’ insurance plan.
What Flood Insurance Covers
A general flood insurance policy will cover damage to your business’ physical location. This insurance will typically cover the:
- Electrical and plumbing systems
- Central air conditioning systems
- Furnaces and water heaters
- Installed appliances
- Carpets, cabinetry, wall coverings, and bookcases
Debris removal is often included in flood insurance policies as well. Many business owners forgo obtaining this necessary type of business insurance in East Rutherford New Jersey because their business is not in a high-risk flood zone. However, floodwaters can have effects on businesses everywhere. If you operate your business out of a location that is in a moderate or low-risk flood zone, your business may be eligible for what is called a Preferred Risk Policy. This type of policy has low premiums and the coverage amounts can be extended as needed.
If you are worried about the potential threat of flooding, talk with your business’ insurance provider to protect your business from the damages a flood could cause to your business’ location.