Contractors General Liability Insurance is a type of insurance policy. This insurance mainly used as a safeguard against liability caused by injury and damages. The need for this type of insurance is high enough to where it is required by law in most states. Consideration for the type of work performed will choose the type of contractors liability insurance needed for a job. Other considerations also must be taken into account when purchasing this type of policy. Here is a brief explanation of what contractors general liability insurance is and the considerations which need to be addressed when buying a policy of this type.
Contractors General Liability Insurance is a liability insurance policy which is used specifically for coverage in the construction and building trades. This insurance covers a range of issues from accidents to negligence and oversight. Contractors General Liability Insurance is mainly old by contractors who do a variety of work within a specific type of construction or remodeling such as home builders or road construction.
The function of Contractors General Liability Insurance is to guard the operators and owners of companies from any claims which could include the following:
* Liability from accidents
* Contractual liability
* Products made by the insured
* Liability caused by a worker employed by the contractor
Many times a contractor can not set foot onto a project until the certificate of insurance is sent by the agent. Because of this fact, a contractor can be found in breach of their contract if they are unable to start the job on time because the certificate is not available.
For most projects, the contractors will be required to provide an original certificate of insurance showing they have Contractors General Liability Insurance from an agent. Some agents can supply this certificate snappy while others are considerable slower.
There are four types of general liability insurance for contractors. Each covers a different aspect of business need.
* Primary General Liability – this policy covers a wide range of contractors including road builders, pipeline and power construction and residential homebuilders
* Lead Umbrella Liability – this policy covers excess liability for the lead contractor who hires on subcontractors or other professionals for a project
* Owners Interest – this type of policy provides the critical general liability for the owner of any land where the construction project is being performed.
* Vital General Liability – this policy type is a layered coverage for both project-specific and rolling coverage where the general contractor has multiple projects in operation at any single time
Some considerations which contractors should take into chronicle when purchasing Contractors General Liability Insurance include:
* The liability selected determines the cost of the insurance. This cost also factors in the type of work undertaken, gross income and payroll and complexity of the project.
* Similar to auto insurance, this insurance requires a down payment followed by installments.
*The General Contractor needs to be sure that all subcontractors under them have general liability insurance. If there is a negligent act a lawyer can include anyone working on a project.
* Certificates of insurance can be processed on the same business day as the request as long as the contractor is not attempting to do so at the last moment.
* A good method to verify that a certificate of insurance is sent is to have the agent fax you a copy of the certificate when they mail the original to the customer
Issues general contractors should be aware of include the following:
*You can usually bid on a job without Contractors General Liability Insurance, but often you can not start the work without the policy in place
*It is the general contractor’s job to ensure that everyone working with them or under them is covered by liability insurance.
Filed under Eastwood Auto Insurance by on Mar 13th, 2011. Comment. 
It’s fairly common for us to associate the purchase of a life insurance plan with the more elderly in our community rather than our children, after all children are so young and viral that we automatically ask them to have long and healthy lives. We often view our children as invincible, as though nothing can bring them harm. The harsh reality is, however, that death knows no age and as difficult as it may be, you have to be prepared for all the unexpected situations life can throw at you, including the untimely death of your child.
Even though the last thing you will want to worry about is handling financial obligations in regard to funeral and burial expenses, they are important matters which will need to be addressed in the event of such a tragic loss. If you’re considering life insurance plans for your children, but aren’t sure which one to go with, then you’re not alone. All you really have to do is educated yourself on the various types of life insurance plans that are out there in order to evaluate your options and make an informed decision.
Life Insurance Options
Whole life insurance may be used as more of an investment option for your children. The younger your child is, the lower the premium amount is. Purchasing a whole life insurance policy for your child while he/she is still young allows more of a chance for it to grow in cash value. You also have the option to add on your child to an existing policy. It all depends on your individual situation, however most companies do allow you to retract a rider on your existing policy in order to insure dependant children. Another choice is to purchase a separate policy for your child. The minimum policy limit might be higher with a separate life insurance plan; however premiums also tend to be much lower.
Is Life Insurance a Necessity for Children?
Although children are in no way immune to death as we all sometimes tend to think, many parents detached ask the value of purchasing a life insurance plan for them as children do not contribute to a family’s financial well-being.
As a result, most people tend to inquire the necessity of life insurance for kids. Financial experts are more in favor of investing in a child’s college tuition fund or other similar accounts rather than a life insurance plan. They have a valid point to a certain extent. On a general basis, there is no compelling motive to occupy life insurance policies with large payouts for children. However, there are a few reasons as to why obtaining a life insurance plan for your kids would be a good financial decision:
- Financial Costs – In the event of your child’s death, a life insurance policy would be of great help to finance necessities such as a proper memorial service. The cost of life insurance for children is also significantly lower and can provide assistance with such expenses.
- Medical Bills – When we think of an unexpected death, some sort of tragic accident often pops into mind. However, many times the reason can also stem from a fatal illness that’s also just as unanticipated. The proceeds from your child’s life insurance policy can help to pay for costly medical-related bills, thus providing your family with financial relief.
- Insurance Coverage – If your child develops a serious medical condition while uninsured, premium costs can be very expensive. Purchasing a life insurance thought while your child is in good health is generally inexpensive. Even though money is no object when it comes to your child’s healthcare, you are able to assign down the road should your child suddenly develop a life-threatening illness later on.
Filed under Types Of Auto Insurance by on Feb 26th, 2011. Comment.
GEICO stands for “Government Employees Insurance Company.” That really doesn't have anything to do with this share, but is anecdotally interesting.
I just got my revised insurance information from the lizard auto insurance company (…'the cleave rate insurance company' the 'fifteen minutes insurance company' or any of the other dig names which competitors take out on them) and I was not happy. My wife and I have been accident free for some time now. No moving violations, no points, no incidents, no expired meters, no cutting off conventional ladies at the service spot. We have largely been very good drivers, for all the driving we do.
So when I got the email the other day about our policy renewal, I was very excited. I had figured we had made a beautiful substantial dent in our admittedly reasonable insurance policy. We still have a loan out on our car which is Titanic-style underwater (ours is a 3 year musty car with 110,000 miles) and we're anxious to get ahead of these things.
Our plans have always been to retire our small remaining plastic debt and then tackle the car head on. The fact that our policy is up for renewal and we haven't had any incidents in several cycles should mean that our policy will go down, right?
Well…No.
Our policy actually went up by some two or three dollars per payment (with five payments the added amount is something like $13.00 total). Still, that bugged me.
So as I've done since my earliest days of being fed up with a teething ring and wanting my bottle, I spoke up about it. I emailed GEICO and basically said, “what's going on? ” The always vigilant Gecko was lickety-split to get back in touch with me. This is the truncated version of what he said:
“…You do have a great driving record and your policy did not change because of the intention you drive. Right now on your policy you are receiving our 5 year good driver discount which is saving you $66.10 every 6 months on your premium.
Your renewal policy reflects a statewide rate revision. As with all insurance companies, GEICO periodically reviews its loss statistics to determine if our rates are adequate to cover the cost of claims. The results of our analysis indicated that it was necessary to increase our premium levels.
Insurance companies frequently reevaluate their rates in the light of economic conditions and the driving record of the insuring public. In this way, we are able to realize the purpose of insurance – the equal distribution of the losses amount the insuring public. All insurers use this principle.
We be pleased the time you have been insured with GEICO. We regret that it is necessary to increase your rates due to the overall loss experience in your state. Please be assured that we share your concern over the rising cost of insurance and are doing everything we can to keep our rates as shameful as possible.”
So I hope I'm reading that right, because that sounds to me like socialized auto insurance. I mean, the way GEICO tells it, whatever I do with any insurance company as a driver doesn't matter because of the risk of what could happen. I don't want to begrudge the Gecko, but I don't want to be responsible for the poor decisions of strangers. I didn't get in that accident, I didn't total my car, I didn't sideswipe some strangers parked car; someone else did.
When did we all get so comfortable together in the vast big bed of auto insurance? If you can't call that socialism, you might as well call it communism.
Filed under Auto Insurance Reviews by on Feb 24th, 2011. Comment.
If you are shopping for auto insurance, don’t overpay. Here are 10 tips on how to be clear that you are getting the best auto insurance quote.
1. Take your time and shop around. The cost of car insurance can vary widely from one company to another. To be sure you get the best auto insurance quote, take the time to obtain at least three quotes before you choose a policy.
2. Only purchase as considerable auto insurance as you need. For example, you might consider skipping collision insurance if you drive an older model car that is worth less than $1,000.
3. To get the best auto insurance quote, increase the deductible on your auto insurance policy if you can afford to. Whether this makes sense for you will depend on whether you can afford to pay $500 or $1,000 up front in the event of an accident. If so, raising the deductible from $250 to $500 might save you 10% or more, and hiking it to $1,000 would result in ever greater savings.
4. Before requesting a quote, find out what discounts are available to you. Most auto insurance companies offer numerous discounts, including some that are not well known. For example, you might be eligible for a discount if you participate in a low-risk occupation, are a member of a professional organization, have positive safety features (such as anti-lock brakes) on your car, are a senior citizen and/or have recently taken a defensive driving course. Also, ask the human resources department at your company whether your employer offers group auto insurance discounts.
5. To get the best quote on auto insurance (and all you insurance) buy as much as you can from one company. You can usually save money by combining coverage and purchasing multiple policies, such as both your homeowner’s and auto insurance policies, from the same company.
6. Be sure you are buying the right auto insurance policy for you. For example, if you don’t put a lot of miles on your car each year, you might want to investigate premiums on low-mileage auto insurance policies (sometimes called pay-as-you-go policies) if they are offered in your space. Premiums on pay-as-you-go policies may be based on a specified range of miles driven or actual miles driven, and, for some drivers, can be big money savers.
7. For the best possible auto insurance quote, be clear your credit rating is in obedient shape before you start shopping, because the auto company will take it into account in pricing your policy. If necessary and possible, take steps to improve your credit rating before you hold a policy so that you can regain the benefit of your better rating for the full term of the contract.
8. Maintain a good driving record. Most auto insurance companies offer discounts for having clean driving record for a defined period, usually three years. While there is nothing you can do about past blemishes on your driving record, you can work at keeping it blemish-free in the future, which will eventually pay off in lower car insurance premiums.
9. Skip the extras that can drive up the cost of auto insurance. Omitting towing, car rental coverage, and loss of income from you policy can lower your premiums.
10. If you are shopping for auto insurance when your existing policy is about to expire, review it carefully. This is a good time to reevaluate the deductible, collision coverage, policy extras and discounts to be distinct that you are not paying for more coverage than you need and to ensure that you are getting all the discounts you deserve. If your credit score has improved, make sure that your agent is aware of that and take advantage of the renewal discount.
While saving money on auto insurance is valuable, if possible, don’t make price the only criteria for choosing a policy. Talk to friends and family for recommendations and feedback about auto insurance companies and be sure that the policy you select is right for you.
Sources:
www.edmunds.com, How to Save Money on Auto Insurance – Edmunds.com
pueblo.gsa.gov, FCIC: Nine Ways to Lower Your Auto Insurance Costs
www.ohmygov.com, Is pay-as-you-go car insurance a viable alternative?
Filed under Auto Insurance Quotes by on Feb 21st, 2011. Comment.
Shopping for auto insurance is a complex affair depending on how your novel policy is set up. My automobile policy is carried by the same company that does my homeowners' insurance. My monthly mortgage payment is based on a calculation derived from information provided by the same company. To change automobile insurance means that I have to make changes to my escrow and homeowner's policy. Who wants to do all that?
There are plenty of good reasons to shop for auto insurance right now though. Whenever the economy tanks, millions of customers let insurance policies lapse. This presents an unsafe driving environment for the consumer and harsh fights among the insurance giants for the remaining paying customers. That's good news for you. I'm sure you've noticed that auto insurance companies have ramped up the volume in the past few months. That's because there have been major migrations of customers between the big 4 auto companies since 2009. Customers are looking for a gracious deal, and simply being big isn't going to keep customers paying higher rates. The top 3 auto insurance companies are Geico, Allstate and Location Farm. These companies account for about 35% of the market collectively. Lately your television has been flooded with commercials by companies like Progressive and Farmer's auto insurance. These companies are looking to remove some market section away from the leaders. Of course the problem is that the two leaders in the market have highly dedicated customers who may have never had a different insurer in their lives. Discount stacking and bundling make even getting these customers into a competitor's office a challenge. But there are many deals to be had for the persistent customer. As the market is being shaken up, there is a premium placed on customers to join a new company and stick with that company for many years. Listed below are some tips you can expend going into the office of a competitor for an insurance quote.
- Bring all your relevant documentation. License, vehicle information, homeowner's information, secondary vehicle information, etc.
- Ask for discounts that involve bundling. There are multi-car discounts, homeowner packages, driver training discounts, discounts for good grades for students, and suited driver discounts.
- Tell the salesperson what the competition is doing to get the price down. Don't be shy, when it comes to the fact that you want a lower price.
- Ask for what the policy doesn't cover. Does it conceal flood distress, one car accidents, accidents involving hit and runs and acts of God?
- Does the policy include roadside assistance, rental car and towing? Did your old policy cover these things?
- Does the policy include collision and comprehensive? Never net a liability only quote. This is a rock-bottom price that won't repair your car in an accident.
Right now the insurance world is working aggressively to get your dollar. Now is the perfect time to help your dollar go farther. I will be shopping this year and I plan to save some money. I hope you save some money as well.
Sources:
A.M. Best
Interviews
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Filed under State Farm Auto Insurance by on Feb 19th, 2011. Comment.
