Water Damage

Water Damage

Water damage is almost always excluded from personal and commercial policies. While water damage caused by flood or other outside-water can be covered by a Federal Flood policy, there are endorsements that can cover water damage that originates from inside the building. These types of water damage are commonly defined in four ways.

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IRMI Tip of the Month: Protect Yourself from Identity Theft

IRMI Tip of the Month: Protect Yourself from Identity Theft

The Federal Trade Commission has seen increasing amounts of identity theft in the past few years. When someone's identity is stolen, it takes a lot of time and money to fix the damage. This article describes some strategies to keep your identity safe and mitigate losses if identity theft were to occur.

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Choosing a Contractor

Choosing a Contractor

When large home repairs need to be done, the search for a contractor begins! Some people are lucky enough to have the expertise to do it themselves, or they might have a close friend or family member that does good work, but others have never had to hire a contractor before. This article will discuss strategies to increase your odds of picking a good contractor.

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The Dangers of Certificates of Insurance

The Dangers of Certificates of Insurance

A standard practice is to request Certificates of Insurance from contractors. While this is a good start to risk management, did you know that the Certificate is only valid for the day it was issued? Did you know that the Certificate has no legal bearing on the insurance coverage?

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Why You Should Never Insure a Personal Auto on Your Business Auto Policy

Why You Should Never Insure a Personal Auto on Your Business Auto Policy

The Business Auto policy (BAP) is the standard policy used to insure vehicles that are used in a business/for business purposes. The BAP can insure the vehicles to cover almost any liability that could arise, along with Comprehensive, Collision, Medical Payments, and other coverages. The BAP is a very robust program, but all of the coverage could be compromised if personal automobiles are insured by the BAP.

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Navigating Commercial Leases

Navigating Commercial Leases

Most people have experience with residential leases, and commercial leases have many things in common with their residential counterparts. However, commercial leases contain more requirements than what you'll find in a residential lease, and they can be overwhelming if you've never seen one before. This article will discuss the main commercial lease forms and their requirements, along with answers to some miscellaneous questions.

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What's the Difference Between Independent Contractors and Employees?

What's the Difference Between Independent Contractors and Employees?

Employees are expensive. You have to have Workers' Compensation, Unemployment, and other lines of insurance for them. You have to pay taxes on them, and they require you to follow all types of federal and state labor, wage, and discrimination laws. What a mess! Wouldn't it just be easier to reclassify all of your employees as independent contractors instead? Find out why you can't do that in this article!

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The Dangers of Ride Sharing

The Dangers of Ride Sharing

The recession was hard on everybody, but especially so for Generation Y. Millenials came up with a creative answer to the hardships though, and it came in the form of a sharing society. Now many people are sharing their physical assets for a fee. Most notable are companies like Uber who are lining up drivers with people who need rides. While it's a great idea in theory, find out why you should be very careful when using these services.

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