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| "I Assumed I Was Covered" To assume anything is a potentially expensive risk. There are few absolutes with insurance and too many misunderstandings are accompanied by the phrase, "I assumed." or "I thought," or "my agent told me." Only your Insurance Policy confirms the actual coverage. It is vital that you, the policy holder, read, review and understand the coverage you have. You cannot rely on any quotations, notes or telephone conversations not confirmed in writing. Consider the following....
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| 800.264.4637 HS@InsureMyShop.com |
Can I exclude my wife/son/daughter/brother in law from Workers Comp?
It depends on your ownership. Individual owners can exclude most relatives who live with them
in the same household. Partnerships can only exclude named partners, other family members
are included for coverage. LLC's can only exclude managing members. Corporations can only
exclude officers who also hold stock.
in the same household. Partnerships can only exclude named partners, other family members
are included for coverage. LLC's can only exclude managing members. Corporations can only
exclude officers who also hold stock.
FAQ and Insurance Pitfalls
| About Your Business |
Landlords, Leases, Contracts, and Agreements
Any written agreements you may have that could affect your insurance need to be disclosed and
copies given to your broker. Any changes to your business should be disclosed at your first
opportunity. We can't protect it if we don't know about it.
copies given to your broker. Any changes to your business should be disclosed at your first
opportunity. We can't protect it if we don't know about it.
Hiring good employees: Motor Vehicle Records
Will there be any driving exposures for your employees? Before you hire, have them bring in a
current copy of their driving record from the DMV. Check their license and photo to be certain
and advise them that although their driving record is confidential, you will need their permission
to make their information available to the insurance company. Drivers with bad records or with
suspended licenses can be excluded from coverage.
current copy of their driving record from the DMV. Check their license and photo to be certain
and advise them that although their driving record is confidential, you will need their permission
to make their information available to the insurance company. Drivers with bad records or with
suspended licenses can be excluded from coverage.
| Insurance Solutions |
welcome to:
| Hindsight Insurance Services |
| 100% replacement Value? |
| Do you have an Alarm? |
| Adequate Liability Limits? |
Safety Manuals and Employee Files:
If you have employees you are required to maintain workplace safety manuals and be able to
document safety training and procedures. Depending on the type of business you should be
holding safety meetings at least quarterly. More often as necessary. If you don't have your own
HR department you still need to maintain employee personal files. We have specialists in these
areas, call for details.
document safety training and procedures. Depending on the type of business you should be
holding safety meetings at least quarterly. More often as necessary. If you don't have your own
HR department you still need to maintain employee personal files. We have specialists in these
areas, call for details.
What payroll must be reported?
All wages, salary, bonuses, commissions, vacation pay or other compensation. All Sub
Contractors who have not provided you with a certificate showing coverage under their own name.
Anyone to whom you issue a 1099
Contractors who have not provided you with a certificate showing coverage under their own name.
Anyone to whom you issue a 1099
Always ask about higher limits and optional coverage!
Employer Practices - Wrongful Termination - Sexual harassment
Coverage is available for Employers Practices Liability as a separate policy. These exposures
are generally not covered under a business owners or general liability policy.
are generally not covered under a business owners or general liability policy.
Subcontractors
If you use any subcontractors in your business it is important that you obtain certificates of
insurance from them naming you as additionally insured. This protects you and your business
from liability claims, or damage to a customers property and cars while they are in the care,
custody and control of your subs. It also protects you from having to pay workers compensation on
the business you sub out.
Example: Auto Repair: You sub out transmission work to another shop and the client pays you for
this along with whatever other work you may have done in their behalf. A hundred miles down the
road the transmission seizes up causing an accident and totaling the vehicle. Since it was you the
client dealt with, you are the one who gets sued. Your insurance you will not be charged with the
claim and your deductible will be returned to you after your insurance company recovers from the
transmission shops company. Such scenarios are applicable whether you do auto service, have
a restaurant, a contracting business, whatever.
But what if the sub has no insurance and/or has not named you as additionally insured on their
policy? You could be held responsible for deductibles and liability claims directly. Any
subcontracted business is a potential liability issue for you unless you obtain proper evidence of
insurance.
Fortunately for you, as part of Hindsight's extended service program, we can review and obtain as
necessary the proper certificates on your behalf. All we need from you is a list containing your
subcontractors contact information, business name, contact name, address & telephone number
and we will attempt to obtain the proper certificates on your behalf. If we cannot, or if the sub has
no insurance you will be notified and can take proper steps to protect your business.
There is no charge to you for this service. If you have any questions please call us, or simply
supply us with a list of your subs by fax or email.
insurance from them naming you as additionally insured. This protects you and your business
from liability claims, or damage to a customers property and cars while they are in the care,
custody and control of your subs. It also protects you from having to pay workers compensation on
the business you sub out.
Example: Auto Repair: You sub out transmission work to another shop and the client pays you for
this along with whatever other work you may have done in their behalf. A hundred miles down the
road the transmission seizes up causing an accident and totaling the vehicle. Since it was you the
client dealt with, you are the one who gets sued. Your insurance you will not be charged with the
claim and your deductible will be returned to you after your insurance company recovers from the
transmission shops company. Such scenarios are applicable whether you do auto service, have
a restaurant, a contracting business, whatever.
But what if the sub has no insurance and/or has not named you as additionally insured on their
policy? You could be held responsible for deductibles and liability claims directly. Any
subcontracted business is a potential liability issue for you unless you obtain proper evidence of
insurance.
Fortunately for you, as part of Hindsight's extended service program, we can review and obtain as
necessary the proper certificates on your behalf. All we need from you is a list containing your
subcontractors contact information, business name, contact name, address & telephone number
and we will attempt to obtain the proper certificates on your behalf. If we cannot, or if the sub has
no insurance you will be notified and can take proper steps to protect your business.
There is no charge to you for this service. If you have any questions please call us, or simply
supply us with a list of your subs by fax or email.
