Top 10 Reasons to Insure Your Home with Chubb

We’re often asked, in your professional opinion, who is the best insurance company. Our agency works with several fantastic companies who offer great products but there is 1 company whose services is truly exceptional.   Chubb goes above and beyond unlike any other insurance company in the business. Chubb is not for everyone but for successful clients fortunate enough to have Chubb, they have the best. Top 10 Reasons to Insure Your Home with Chubb World-renowned claim service. Our highly-skilled claim service professionals are available 24/7 to respond quickly to a covered loss. Every effort is made to contact you within 6 hours of your report of loss, and in most cases we issue payment within 48 hours of a 

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Secure Home & Auto Insurance Before Moving

All homeowners and renters should review their insurance policies before moving. People who are moving from a home and renting temporarily often overlook the importance of renter’s insurance at their new residence. Also, people may forget to update an auto policy after moving. Keep these tips in mind for an insured move. Different State / Different Insurance Renters or homeowners who move to a different state often assume that their insurance follows them. While some big insurance companies are licensed in all states, other smaller companies are not. Check with an agent about insurance at the new location before moving. Also, some states have different requirements for auto or home insurance policies. Premiums Premiums are partially based on location. For 

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Is Your Business Covered for Employee Crime?

Research conducted by the Chubb Group of Insurance Companies revealed that over 36 percent of private companies have been victims of an employee theft within the past five years.  The dollar value of these thefts has averaged nearly $350,000. The researchers also pointed out that more companies are facing similar situations as they reduce staff and make budget cuts. Both actions motivate employees to steal funds, equipment and inventory.  The insurer reported in its 2005 Chubb Private Company Risk Survey, that 31 percent of companies polled plan to outsource some aspect of their operations, 21 percent plan to eliminate employees, and 20 percent plan to reduce or completely eliminate some employee benefits this year. These actions will be the catalyst 

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What is Replacement Cost Insurance?

Unfortunately, disaster can strike at any time. No one is immune to the threat of losing his or her home due to any number of possible hazards. But a recent survey found that most homeowners are seriously underinsured.  Marshall & Swift/Boekh, a leading insurance data services company, found  that 66 percent of homeowners had inadequate coverage by an average of 18 percent. That works out to $36,000 for a typical $200,000 home. While few people would willingly choose a policy with a $36,000 deductible, that is the net result of being underinsured by that much on what may well be their most valuable asset. Market Value vs. Replacement Cost The market value of what your home would sell for today 

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Landlord Rules Regarding Rental Property

According to Nolo, landlords should make necessary repairs to rental units to avoid problems with tenants. Heating, plumbing and cooling should be addressed within 24 hours, and heating and cooling are especially important with extreme winter or summer temperatures. However, landlords must provide written notice of intent to enter the premises 24 hours in advance unless there is a serious emergency such as a fire or a burst pipe. Landlords are required by law to maintain habitable dwellings. This means that weatherproofing, water, heat, electricity, plumbing and sanitary water are all necessary. Also, the building should be structurally safe. Housing and plumbing codes in different municipalities have their own standards for ventilation, light and wiring. Most cities require smoke detectors 

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Employment Practices Liability Insurance

Since Title VII of the Civil Rights Act of 1964 passed, the issue of employees’ rights continues to be controversial. Employers involved in interstate commerce are prohibited from discriminating against applicants. Understanding Lawsuit Risks As more laws are enacted for workplaces, employers face a higher risk of lawsuits. The likelihood of discrimination lawsuits is especially high. In order to minimize this risk, employers need to create a workplace that offers workers equal rights, opportunities, job access, working conditions, job security and opportunities for advancement. They must also strive to create a workplace that is in compliance with federal employment guidelines for mature and disabled workers. During the time period between 1992 and 2004, the number of individual discrimination charges jumped 

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Business Interruption Insurance

To ensure the survival of a company, business interruption insurance is a valuable tool. Although some companies may never use it, having this coverage can be the difference of recovering from a detrimental event or closing the doors forever. Business interruption coverage is just as important for any business as flood insurance is for an oceanfront business. Most people would never start a company without insuring their property and inventory from storms, vandals and perils. Fires, mold, floods and even injury lawsuits may cause a business to close its doors temporarily, and the building or machinery may be unusable for some time. Business interruption insurance is added to a property insurance policy. After any type of disaster, shutting down the 

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Product Liability, Recall And Contamination Insurance

Companies that design or sell tangible items should consider product liability insurance. Anything from foam slippers to boxed macaroni can be manufactured incorrectly enough to result in lawsuits. Some food products become contaminated and make people sick. Other items may be designed poorly and cause physical harm to customers or their personal property. Product liability insurance is an add-on coverage for a general liability policy. Purchasing Considerations When buying product liability coverage, it is important to think about what could go wrong with products. If the item is known to be a danger, more coverage may be necessary. People who sell packaged food products should always purchase a generous product liability policy. These are some factors to consider when assessing 

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Directors & Officers Insurance

Imagine these scenarios affecting organizations of varying types and sizes: Members of a trade association sue the group’s board of directors, accusing them of mismanaging association funds by spending thousands of dollars on a project that went nowhere. Stockholders in a small restaurant chain sue the company’s risk management officer after a location suffers a total uninsured loss of the building, contents and food. A taxpayer group sues a public library’s board of trustees for building up a reserve fund that the group considers to be too large. All of these scenarios could mean large financial losses for the organizations and the individual directors. They need directors and officers (D&O) liability insurance to pay for these situations if they occur. 

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What Does Cyber Insurance Cover?

Many businesses do not understand just how important cyber insurance is or why they need it. Some of the most common targets for cyber thieves are medical offices, law firms, accountants and other professional businesses who collect personal information. What Does Cyber Insurance Cover? There are several inclusions in a cyber insurance policy. Any business that stores trade secrets and protected personal information of clients should consider a policy that includes the most important features. One of the most important features a policy should have is investigation of privacy and cyber incidents. This feature includes forensic investigation costs, outside counsel costs, fees related to sending letters to clients about security breaches and the costs of crisis management or public relations. Coverage applies 

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