If you own or manage a business, you may be considering commercial insurance, and for good reason. Starting and running a business takes a lot of financial and physical commitment, so, of course, you want to protect it. Here at Koverage Insurance Group, we love helping the business owners around Middletown and Enfield, CT protect their investment. Here’s a simple guide we put together to help you understand commercial insurance.
Commercial insurance is insurance coverage that helps protect businesses from financial losses due to covered events. Though each policy is different, some of these events include theft, damage, third-party lawsuits, and customer injury. Some of the most common commercial insurance policies are:
- General Liability Insurance
- Property Insurance
- Worker’s Compensation Insurance
- Business Interruption Insurance
- Equipment Breakdown Insurance
- Commercial Auto Insurance
The particular coverage that you should have for your business depends on your individual business situation. The following are things to take into account when choosing coverage:
- How long you have been in business
- How many employees you have
- Where your business is located
- Whether the business owns or rents vehicles or any property
- Your annual revenue
A small business with five employees that work from home will require different coverage than a large corporation that has multiple locations and hundreds of employees. It is important that you meet with an insurance company that will take the time to understand your unique business situation so that you get the coverage you need and none of what you do not.
For Middletown and Enfield, CT business owners and managers, that agency is the Koverage Insurance Group. Stop by or give us a call today and let us help you protect your investment!
Someone slips and falls in your home, or you or someone living in the home unintentionally causes bodily harm or property damage to someone or their property. These events could result in financial loss due to medical bills or replacement costs for damaged items. Ask your Koverage Insurance Group agent to help you protect your Enfield, CT business with home insurance and prevent these incidents.
What Is Liability Insurance for Your Home?
Liability insurance is part of your home insurance policy. It covers damages caused by people on your policy. The liability portion of your coverage also includes the cost of a lawsuit if the incident results in a lawsuit. This is helpful if a judgment forces you to pay for medical bills, property damage, and other costs related to the covered peril.
Types of Coverage
There are two main types of coverage, bodily injury, and property damage.
Bodily injury is a kind of liability insurance. It pays expenses related to someone who is hurt on your property. This could include someone slipping on the icy sidewalk outside your home. Bodily injury liability and medical payments cover medical costs associated with a covered peril. Medical payments take care of necessary medical expenses for non-residents injured in or around your home.
This coverage typically includes the following:
- Medical and surgical expenses
- Dental work
- Hospital costs
- Professional nursing
- Funeral services
Property damage is another part of your home insurance liability coverage. This covers damage to someone’s property. It would cover your expenses if your child threw a baseball through a window or damaged an expensive vase.
Koverage Insurance Group can help you protect your Enfield, CT home. Call today to book an appointment and get a free quote for home insurance, including premises liability.
The Koverage Insurance Group offers personal auto insurance policies in the Enfield, CT area. However, it can be tough to decide the best way to organize family coverage. This is especially true for parents with brand new teenage drivers. While most parents automatically add their teenager to their own existing policy, there are some distinct advantages to having your teen driver buy their own, separate policy. Which choice is right for your family?
- If your teen already has a steady work history, buying their own policy is an important step towards building a strong credit history. For teens who aren’t as self-sufficient, parents can help them avoid long-term damage to their credit by keeping them on their own, more stable policy.
- Married teens, those with their own dependents, or youngsters with limited cash flow can enjoy more amenities on their parents’ policies without breaking their meager budgets. Teen drivers with less responsibility may be able to secure lower rates on a solo plan that doesn’t include the little extras on their parents’ plans.
- With a good student discount, many teens can secure a low-premium policy all on their own. However, those who aren’t as academically apt generally receive better rates on their parents’ plans.
- Does your teen have their own vehicle? If they’re mostly using your car to get around, buying a separate policy would be a waste. However, if your child owns their own vehicle, a separate policy could be used as a tool to instill a sense of responsibility while safeguarding parents from increased risk.
These general guidelines can help you start thinking about the best solution for your family. When you’re ready for more personalized guidance, contact Koverage Insurance Group for help finalizing your Enfield, CT area auto insurance plans.
Defective products create liability. In most cases, your commercial policy will be able to cover any damages caused by a defective product that you either sold or manufactured as long as you had no idea there was a problem. The agents of Koverage Insurance Group serve businesses in Enfield, CT that may require commercial insurance that covers defective product liability.
Knowing Your Liability Limits
Most commercial policies have liability limits that can range between $100,000 and $1 million, depending on the types of products or services you offer. Knowing and understanding these liability limits will help you determine if you are sufficiently covered or if you may need to increase your coverage. Commercial policies are designed to protect you from financial loss, but sometimes you may need to supplement that coverage.
Adding an Umbrella Policy
If you have concerns that your existing commercial policy may not be sufficient, you have two options. You can increase your liability policy, or you can choose to purchase an umbrella policy. Umbrella policies are more expensive but will cover you over and above the limitations of your commercial policy.
If you own a business in Enfield, CT, contact the agents of Koverage Insurance Group if you have questions about your commercial insurance coverage and your defective product liability limits. With our many years of experience, we can provide you with sound advice and assist you in getting the right amount of coverage to meet your needs. Having a sufficient amount of commercial coverage is essential for peace of mind and a solid sense of security. Speak to an agent today or visit our office to get the answers you need.
With fall soon approaching, now’s a good time to start preparing your home for the change of seasons. The longer you put home projects off, the greater your chances of getting caught off guard when cold weather hits in earnest. Here are a few ideas from Koverage Insurance Group on how to prepare your Enfield, CT home for the cooler temperatures of fall.
Clear Out Your Gutters
Clean your home’s gutters of dirt and debris that can keep rainwater from draining freely. Clogged gutters can cause water to amass on your roof and eventually leak into your home.
Service Your Heating System
Schedule an appointment to have your heating system serviced before cold weather arrives. Clean your filters and vents and make sure airflow isn’t impeded by carpets, curtains or furniture. If your home has a fireplace, make sure it’s clean and ready for use. For safety’s sake, your chimney should be cleaned and inspected by a professional before using.
Seal Cracks in Windows and Doors
As winters can be freezing in Connecticut, take time now to seal cracks in windows and doors to eliminate drafts, keep warm air in and save money on heating costs.
Empty Hoses and Outdoor Faucets
Disconnect and store away outdoor hoses before temperatures drop. Run faucets and sprinkler system to drain all water and then turn off the water supply. This will prevent pipes from bursting when temperatures plunge.
Update Your Home Insurance
Review your home insurance coverage to ensure you have the dwelling, property and liability protection you need. This is especially important if you’re expecting visitors for the holidays. The right coverage will protect you against unexpected disasters or accidents that may occur on your property.
To upgrade your home insurance coverage, call or visit your Koverage Insurance Group agent in Enfield, CT today.
Summer’s a time for road trips and holiday activities with family and friends. With so much happening, it’s only natural to loan your vehicle to other drivers. Before allowing anyone to drive your car, make sure they’re covered by your auto insurance. The following guidelines by Koverage Insurance Group in Enfield, CT explains more about auto insurance coverage for "guest" drivers.
Relatives who are part of your household are automatically covered by your auto insurance coverage. If your parents, brother, sister or another family member with a valid driver’s license borrows your vehicle, they will be protected by your insurance policy, as long as they have your permission to use the car.
It’s not uncommon to have relatives come to visit for the summer. They may ask to borrow your car for a quick trip to the supermarket or local mall. If you give them permission to drive your vehicle, they will be covered by your auto insurance. Naturally, you should ensure your relative has a valid driver’s license and is a safe driver before loaning out your car. If Uncle Henry is known for speeding or Aunt Mary has a history of fender benders, you may want to think twice before letting them borrow your vehicle.
Friends are also covered under your auto insurance if they have a valid driver’s license and you’ve given them permission to use your car. Guest drivers, however, may not have the same level of protection that you have on the road. When in doubt, talk to your Koverage Insurance Group agent about the coverage guest drivers have under your policy so you can be prepared in the event of an accident.
To learn more about auto insurance options, coverage and costs, call or visit your Koverage Insurance Group agent in Enfield, CT today.
Our Enfield, CT customers often wonder about how commercial insurance works, and why it is important to their business. Truthfully, the most loss a business can experience comes from the suspension of work due to damages, in addition to the loss of actual property.
Today, Koverage Insurance Group will examine how the business interruption coverage in your commercial insurance policy can help you get your business back on its feet following a major disaster.
What is business interruption coverage?
Imagine a situation in which you are no longer able to conduct normal business operations for an extended period of time. This can happen due to damages from natural disasters, criminal vandalism, or a fire; just to name a few.
During the period of time it takes to restore your business into proper working order you will likely be losing money. This is where business interruption coverage can help.
This type of coverage can help assure that you are able to repair or replace needed property, as well as provide for bills or lost wages during the restoration process. Specific coverage will be determined by your policy, usually determined by the nature of your business.
What should I do when my business is suffering hardship due to a covered loss?
Give notice as promptly as possible – If a law was potentially broken, inform the police. Then make sure you notify your insurance company of the loss including the time and location of the damaged or lost property.
Protect your property from further loss – If reasonable, move or otherwise shelter the remaining property from damage until it can be evaluated.
Record all expenses for repairs and other emergency costs – These will be important considerations for your insurance settlement.
Koverage Insurance Group is dedicated to helping see our Enfield, CT commercial insurance customers through times of emergency. Contact us today to discover more reasons why business interruption coverage will protect you during times of crisis.
Home security systems can be very basic or extremely sophisticated. When it comes to choosing the type that’s best for your needs, you will have to decide how much effort you want to put into the installation and monitoring the system. Residents who live in the Enfield, CT area can talk to the agents of Koverage Insurance Group to find out how a home security system can help to protect your home and family.
Self-monitoring systems like SimpliSafe Arlo and Nest are easy to install and can be self-monitored. If you want to install the system yourself but prefer professional monitoring by a third-party call center, that option is available to you. With self-monitoring systems, you can add other devices to your system as desired without having to call a professional technician to install them.
Advanced or Professionally Monitored Systems
Advanced, professionally monitored systems like ADT, Frontpoint, and Brinks offer state of the art technology that includes environmental hazard detection and full home automation. With home automation, you can literally control almost any device remotely by using a downloadable app on your phone or tablet. You can even control your thermostat and door locks. Advanced systems normally require professional installation and can be hardwired directly into your home’s electrical system.
In Enfield, CT, the agents of Koverage Insurance Group can help you determine which type of home security system will fit your lifestyle. They can also recommend a security system for your business. No matter what type of system you choose, the agents are always available to answer your questions. Call and schedule an appointment today to talk to a reputable agent today!!
Before towing a trailer with a vehicle, be sure to contact your agent at Koverage Insurance Group, serving Enfield, CT and the surrounding area. There are many types of things that a vehicle can tow, which include campers, trailers that carry horses, utility trailers, and trailers used to haul boats. There are trailers for motorcycles, snowmobiles, watercraft, ATVs, and others. All of these uses may require special insurance.
Your auto insurance may partially cover some risks when towing a trailer; however, there are many considerations that can affect your insurance coverage For anything that you want to tow, you probably need to expand your auto insurance coverage.
Please note that we are just describing some general information about the possibilities. For the specifics about your coverage, talk with your agent.
Here are some main concerns:
- Own or Rent: There is usually a difference in insurance coverage if the trailer is owned by the insured driver or if the trailer is rented. Coverage for a rented trailer may be excluded under an auto insurance policy. In that case, you may need to get insurance for the trailer from the rental company.
- Fault: An auto policy may cover liability for damages caused to others and their property when the accident is the fault of another person but may not cover any damage if the accident is your fault.
- Extended Coverage: Extra insurance coverage may be required for the things you will pull with the trailer, such as a boat, or your personal property such as things carried in a camper or horses transported in a horse trailer.
- Personal vs. Commercial Use: Any commercial use of a trailer requires a different kind of insurance than the type that covers personal use. Err on the side of caution because things like entering a horse in a horse show may be seen as a commercial venture, especially if cash prizes are awarded to the winners. Even an occasional commercial use, means the trailer and auto may need to be insured for commercial activities.
Contact your agent at Koverage Insurance Group in Enfield, CT by calling or using the convenient online form to get a quote for auto insurance that also provides adequate protection for things that you tow and for any trailers.
FOR IMMEDIATE RELEASE
KOVERAGE INSURANCE GROUP LLC REPRESENTING CENTRAL INSURANCE
Koverage Insurance Group LLC, 657 Enfield Street, Enfield,
CT is proud to announce they are now representing the Central Insurance
Companies of Van Wert, Ohio.
Established in 1876, Central is a highly respected company
that values long term relationships and knows the importance of personal,
friendly service. The Central Insurance Companies are made up of Central Mutual
Insurance Company, and All America Insurance Company. Central operates in 24
states with their Home Offices in Van Wert, Ohio. Central’s A.M. Best rating is
Koverage Insurance Group has been serving the insurance
needs of CT residents and businesses for “over 100 years combined” Koverage
Insurance Group is comprised of multiple insurance agencies in CT. Koverage was founded by The Jarrett Agency,
DiLorenzo Insurance and Stephen Rak Insurance Group. Koverage is dedicated to
providing the best insurance carriers available to its clients.
Call Michael DiLorenzo at 860-745-4222 for more information
about Koverage Insurance Group LLC or visit their web site at www.koveragegroup.com.
For additional information contact:
Michael DiLorenzo @ 860-745-4222