Protecting Your Future with Penmen Insurance Group

 Don’t be caught by risks that aren’t covered by your insurance company. Ask the tough questions. Being proactive today will ensure that you have a policy structured to protect your interests if a loss is caused by one of your suppliers. 

Here are some examples of property that’s commonly insured:

• Buildings and other structures (leased or owned)
• Furniture, equipment and supplies
• Inventory
• Money and securities
• Records of accounts receivable
• Leasehold improvements and betterments you made to the rented premise
• Machinery/boiler
• Electronic data processing equipment (computers, etc.)
• Valued documents, books and papers
• Mobile property (construction equipment, etc.)
• Property in transit
• Cargo
• Satellite dishes
• Signs, fences and other outdoor property not directly attached to the building
• Intangible property (goodwill, trademarks, etc.)
• Business contingency for suppliers
• Ordinary payroll
• Extra expenses as a result of loss

 The only way to effectively protect the assets of your business is to carry adequate commercial general liability (CGL) insurance coverage. CGL protects your business from damages caused by bodily injury or property damage for which your business is found to be legally liable.

Here is more detail into what a typical CGL policy may cover:

• Automatic additional insured: Coverage is provided for written contracts, agreements and permits.
• Personal and advertising injury: Protects against offenses made by you or your staff during the course of business, such as libel, slander, disparagement or copyright infringement in advertisements.
• Defense costs: Provides coverage for legal expenses for liability claims brought against your business, regardless of who is at fault.
• Medical expenses: Provides coverage for medical expenses if someone is injured on your premises or by your products.
• Premises and operations liability: Provides coverage for bodily injury and property damage sustained by others on your premises or in conjunction with your business operations.
• Products liability: Provides coverage for bodily injury and property damage sustained by others as a result of your products. 

 If a client believes damages are due to a mistake on your part they can sue your company. It is important to protect yourself against this potentially devastating liability. A professional liability policy will cover the cost of defending you or your company in court, not to mention the restitution costs if you’re found at fault (up to the policy coverage limit). 

Common industries seeking professional liability coverage:

• Medical Professionals
• Property Managers
• Attorneys, Legal Professionals, & Law Firms
• Accountants
• Architects & Engineers
• IT Consultants

 Our objective is to assist moving and storage owners in lowering their overall cost of their risk, in addition to helping them attract and retain the best employees to work within their operation.

In order for you to legally drive your car on the road, you must have car insurance. While insurance requirements range from state to state, there is usually a minimum amount of coverage required for both property damage and medical bills. Therefore, you might be asking yourself what type of coverage is right for you. This starts with understanding the types of car insurance that are available. While there are numerous options for car insurance, there are three major types. They include liability only, collision insurance, and comprehensive coverage.

The cheapest form of car insurance is called liability only. First, it is important for you to remember that your insurance is only going to kick in if you are blamed for an accident. Liability only is the cheapest form of car insurance that you can have and still legally drive your car. In the event you are blamed for an accident, liability only will pay to fix the other person's car but not your own. Therefore, liability only is also a risky insurance policy. If you are blamed for an accident and your car is totaled, it's gone and your insurance company will not give you a check. On the other hand, this is the cheapest form of insurance.

One of the most common types of car insurance is called collision insurance. This is a basic policy that pays to fix all vehicles involved in the event you are blamed for an accident. For example, if you run into the back of someone and you have collision insurance, this policy will pay to fix both vehicles. While collision insurance generally covers all forms of accidents, it usually does not cover ancillary damage. This might include damage due to theft, weather, or natural disaster. For the average person driving on the road, this is enough; however, if you chase tornadoes for a living, you will want the next level of coverage.

The highest level of coverage is called comprehensive coverage. Also called "Act of God" insurance, this policy usually covers all forms of damage barring insurance fraud. If you are involved in an accident on the highway, comprehensive coverage will pay to fix your car. If a tornado picks up your car and deposits it in the next county, comprehensive coverage covers it. If your car burns in your driveway due to a house fire, comprehensive coverage will cover the car. While this is the most expensive type of insurance, it also provides the most protection.