Flor & Associates Insurance Agency

El Paso Texas Insurance Agent Flor & Associates Insurance

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Do I Need General Liability?

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When deciding if you need General Liability Insurance, it really helps to know and understand what it covers, why most business owners need it, and the circumstances that need to exist when they are covered! 

If you own and run a business by yourself that only sells merchandise online, then more likely than not you will not need General Liability Coverage. But if you own a brick and mortar store that might have a broken jar of jam spewed across the floor for someone to trip over, you probably will need General Liability Insurance! 

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If you have a business where you have to hold on to a client’s property, such as a car or computer equipment—General Liability would cover you in the event of a fire, storm damage, or theft of their property. Any of these events can occur at any time, so it is best to be prepared and identify if your business is in need of General Liability Insurance! 

Never assume that you won’t find yourself in the middle of an accident in your place of business, talk to your insurance provider to see what options you have! 

What General Liability Insurance Doesn’t Cover

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With General Liability Insurance there are many benefits, but there are limitations! There are some things that your coverage doesn’t extend to, such as damage to your product, damage to your work, wrongdoings by an executive of a company, employment related lawsuits such as sexual harassment. These types of events are outside of the coverage a General Liability Insurance plan due to these events being extremely unpredictable!  

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One other exclusion that should be mentioned, is that most General Liability coverages exclude liabilities that sprout from social media and social networking. Since these events can get so large so fast, it is hard to forecast for them and hard to cover them! The effects of a wrong move on social media can be devastating, and makes it smart to create a social media policy of some sort! 

Since these events are not covered it is always good to either find other kinds of coverage, or to be watchful over your business and make sure it doesn’t happen! Always be careful! 

Gaps In Your General Liability Plan

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When you are a business owner you put everything you can muster into your business, your blood, sweat, tears, and reputation. If you do not protect your business properly you can find yourself at a giant disadvantage or even worse—out of business! Due to this it becomes necessary to identify gaps in your General Liability insurance coverage so you can make sure that you are completely covered from losing your hard work! 

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Read through your General Liability Insurance Agreement and if you find that your insurance does not cover your all of your activities you have a few options as to what to do: Avoid doing the activity if at all feasible, self-insure yourself (pay out of pocket if you are liable), or find a coverage to insure the activity if it is a vital part of your business! 

Moral of the story here is, go over your General Liability Insurance agreement and see what gaps you may have—then try to find a good way to cover them by asking your insurance provider! Don’t leave yourself at risk! 

Why Would I Need General Liability Insurance?

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Purchasing General Liability Insurance is one of the best decisions a business owner can make! This kind of coverage protects your business assets in many ways such as if you or your employees are accused of causing injury or damage to property while conducting business, or if someone if injured at your place of work. 

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One of the best examples to give would be if someone were to trip and fall due to an unmarked wet floor within your business. This normally would be a very daunting occurrence to go through, but with General Liability Insurance it can help you weather the storm with assistance of your insurance company! 

In today’s society, it seems like lawsuits are a normal part of running a business—but it never hurts to be protected with a General Liability Insurance plan! 

Truck Insurance Renewal Tips

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Truck Insurance is a vital part of being a trucker and is as essential as diesel is to a truck! The law states that you are unable to operate a truck at all that is not covered by insurance, so it doesn’t hurt to learn about what you will need to have come renewal time in order for it to go smoothly!

First and foremost, if you do not renew due to late or non-payment, it will hurt your ability to find coverage during renewal—which you may have to settle for a company that you do not prefer at that point! Always be sure to keep up with your payments!

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Second, take note of the methods that you get around in your truck, if you travel  without a trailer regularly you should consider Bobtail Insurance, or if you live in an area that is prone to natural disasters you could get Physical Damage insurance to cover any costs that you might run into due to a fire or even vandalism!

Third, let your agent know about any life changes that you have, such as getting married, getting divorced, or any difference in your family situation. Sometimes these changes can cause your pricing to go higher or lower depending on the situation, but either way it is always good to know that you are getting the right coverage for the right price!

Finding The Right Truck Driver

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Finding the right driver is pretty hard, but it isn’t rocket science—there are ways to make it easier on yourself so you can find the right driver quickly! You may have to spend a little money to find one with a hiring agency, but there are ways around this as well!

If you already have a current driver you should utilize them as a tool during the interview process, during interviews have them ask each candidate questions and see if they feel they could handle the job since they know it firsthand, this will help weed out some of the ones that shouldn’t be there in the first place!

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After they have passed the first interview have them demonstrate basic skills for you and your driver, see if they can handle the truck correctly—backing up, turning, going through each of the gears. Also see if they know how to do the normal day-to-day tasks such as connecting air lines, and hooking and unhooking a trailer without issue!

Then if they have passed on to the next stage, you will need to run their CSA profile (Compliance, Safety, and Accountability, when you are able to do so legally) in order to see if they have been a safe driver throughout their career—if they have gone through this process with flying colors, I think you might have a quality driver on your hands!

CSA Score and What It Means

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If you are in the trucking industry at all, you definitely know that your CSA score is extremely important to the trucking company and to their drivers as well. CSA is short for Compliance, Safety, and Accountability, and these publicly published scores are used to identify motor carriers that are ‘high-risk’. These scores play a huge role in your insurance rates since all insurance companies use this score when drafting up a new insurance plan, so it helps to know what goes towards your score!

The lower the score the lower your premium, the higher the score the higher your premium is a good way to think about your score. Actions such as unsafe driving, amount of crashes, vehicle maintenance, driving under the influence, driver fitness, as well as unsafe driving with hazardous materials all influence and raise your score! If you practice safe and defensive driving, and keep your truck in good shape your score will go lower over time! 

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Another way to improve your score is to have regular inspections both in-house to makesure your fleet is up to snuff, and by not failing government inspections, whether it be for tires, leaks in brake lines, and the biggest violator: broken lights, which makes up over a quarter of all violations! Most violations are issued during roadside inspections when the officer is looking over mileage logs—so be sure those are accurate too!

Life Insurance For Different Parts of Your Life

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When you are young, you get married, and begin raising a family. Money may be tight—but if you don’t want to leave your loved ones with nothing financially if you were to pass, you can get Term Life Insurance. This type of insurance has lower premiums than other types of life insurance, but only lasts for a set period of time.

Once you start establishing yourself in your career and earning more, you can elect to get Straight Life Insurance, and with these types of plans you never lose coverage for your entire life as long as you pay your premiums! These plans can be expensive, but can be worth it in the long run!

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When you are older, you may have a fear that you and your spouse may not have enough income to sustain yourselves, if this is the case you can get Variable Life Insurance to help provide income, cash growth, and peace of mind in both life and death. 

In all stages, Life Insurance is important, to you and those you love. Don’t regret not having it!