Tuesday, July 28, 2015

What is life insurance and do I need it?

To put it simply, life insurance protects those who depend on your paycheck. If you die prematurely, life insurance provides your dependents with ongoing income to replace yours, until (or unless) they can live comfortably without it. It can also provide a timely emergency fund for medical, legal, and funeral costs, should family savings not be adequate to cover them. (After all, that golf-inspired Fairway to Heaven casket ain’t cheap.) (more…)

Senate expected to change federal rules on insurance regulation

Federal regulations on insurance companies are likely to be eased this week with the introduction of a Senate bill by the chairman of the Senate Banking Committee. Alabama Senator Richard Shelby is preparing to push legislation that would exempt certain small US banks and insurance companies from regulations put in place in the 2010 Dodd-Frank Act.  (more…)

Friday, July 24, 2015

What is Business Liability Insurance and Why is it Important?

Business liability insurance is something every business should have whether large is small. It is similar to third party car insurance in that it covers your business for damage done to a third party or their property. It is often called public liability insurance or personal liability insurance if you are a sole trader. (more...)

Finding Coverage that Matches Your Business Size

The types and amount of insurance that you need for your small business are based on several factors. What type of business are you in? Where is your business located? Do you have employees? You can evaluate your insurance needs by first considering the size of your business. Definitions of business sizes vary and can be based on the number of employees, total sales and earnings.  (more…)

Insuring a Co-op or Condo

If you have purchased a condo or co-op, the bank will require insurance to protect its investment in your home. You may, however, need more insurance to cover your personal items, liability or fees that may be charged to you regarding shared areas of the building like the lobby. You will need two separate policies to protect your investment: Your own insurance policy and a “master policy” provided by the condo/co-op board. (more...)