Many people are unsure what an umbrella policy is or what it covers. Insurance Agency is here to help. We will explain the basics of Umbrella Insurance and the benefits to you. When you are outside and there is a light rain or breeze you generally don’t need or want an umbrella. However, if it is pouring down rain with high winds, you take your umbrella. An Umbrella Insurance policy works much the same way.
Umbrella Insurance provides extra protection or limits above the liability insurance you currently have. Just as an umbrella protects you from heavy rain, an Umbrella Insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella Insurance can provide limits above your personal auto and home policies.
Here is an example: John Doe falls asleep while driving and hits a van with a family inside. The accident results in $600,000 of medical bills, but John Doe's auto policy has a $500,000 limit. Fortunately, John Doe also has a $500,000 umbrella policy, and the additional $100,000 would be covered under the Umbrella.
It is true that Umbrella Insurance may not be for everyone, but if you are building financial resources for your future, are a professional, own your home, boat or recreation vehicle, you should consider an Umbrella Insurance policy. Insurance offers Umbrella Insurance with very competitive rates. Having the added protection of an Umbrella Insurance policy is coverage no one should go without.
Umbrella insurance provides broad insurance beyond traditional home and auto. It provides additional liability coverage above the limits of homeowner's, auto, and boat insurance policies. It can also provide coverage for claims that may be excluded by the primary policies
Often major life events like marriage, divorce, the birth of a child, children heading off to college, or even the death of a loved one can trigger a need for a change in your personal insurance coverage. Let us look at few of the life events that can affect your personal insurance.
Change in marital status creates a need to update your auto insurance. If you have a new person living in your household, your auto insurance will need to reflect that change.
Children heading off to college in another city also create a need to update your auto insurance, especially if they are taking a vehicle to college with them. In addition, your homeowner’s insurance should be updated if your student is taking any personal property to college such as a television, computer, or other items.
If you are newlyweds, you will need to update your homeowners or renter’s insurance to reflect new policyholder information as well as the replacement value of your personal property. If you have renter or homeowner’s insurance now, and you and your spouse or partner combine households, you are automatically covered by the existing policy. However, it is still important to call your agent.
When there are changes in marital status, it is essential to update your health, life, and disability coverage. There may be new names that need to be added or removed as beneficiaries.
When children start arriving in your home, it is essential to consider updating your life insurance to reflect the additional expenses necessary to manage the household in the event the primary breadwinner is gone.
Today’s technology has made setting up security precautions such as security cameras a cinch! You no longer need to be a millionaire to set up one. You could even install one yourself! Security cameras provide a means for its owner to watch over his or her property from the safety and convenience of any area he chooses. This type of system is a great deterrent to thievery and unwanted entry. Most organizations that have sensitive items or are off limits to the general public employ these cameras to help keep their places safe.
Purchasing and implementing such a system may save your business from the terrors of illegal entry. Investment in such could save you a whole lot of trouble.
Before purchasing a system, you will want to consider the following factors.
Study your needs. The type of security measures installed will depend on your specific security needs. For example how large is the area you would like covered? How many cameras will it take to monitor this area? You must make sure the security camera system you will purchase can accommodate enough slots for expansion.
Do you need audio too? Some camera systems have audio recording equipment as well so you can not only see what happens but hear it as well. This is important in cases when you would like everything documented. However, this may be costly. Many establishments only require video records of their security.
Also, you must ascertain whether you need to have your security cameras record in color or black and white. Color cameras are, of course, more sophisticated and show a clearer picture. However, they tend to be pricey. Color cameras might also not work in low-light situations.
Consider the location of the cameras. Will the site be hard to set up? In that case, you may want to consider wireless security camera systems. However, these cameras must be in a place that is conducive to high-quality broadcast. There must be no interference. They can, be moved around the area. They are a bit more flexible than their fixed-wire cousins.
Will the camera system be for outdoor purposes? Cameras that monitor outdoor locations need special weatherproof housings and may not be recommended for extreme temperatures and various elements. Also, those that may be vandalized must be protected against such.
Also, you must take into consideration the lighting for an area. If your camera cannot record a scene due to bad lighting, you will end up with muddy images that won’t help in your surveillance activities. Choose a security camera that has excellent sensitivity to light. Also, try to illuminate such areas with external lighting.
You must consider where the power sources will be located. Make sure they are well protected from the elements and tampering.
Consider the available methods for recording the images. You may use a variety of backup media. And with the advent of computer storage media, even the use of hard disks, compact discs, and DVDs can prove to be an inexpensive way to store your data.
Thanks for choosing Neate Dupey Insurance Group - We know you have many choices when purchasing insurance and we want to thank you for choosing us as your insurance agency. As a professional insurance agency, we pride ourselves on maintaining long-term relationships. Please keep us in mind when your family and friends are looking for a referral!
If you think about it, your business faces risks every day. When you open your doors, you have the risk of having sick or injured employees, customer complainants, and vendors who fail to deliver on their promises. The world has changed in the past few years and it is important for business owners to make sure their business insurance keeps up.
Recently a large insurer released their annual business risk index. This index identified the top concerns of over 1,000 business owners. Nearly half of survey respondents believe that the business world is growing riskier, yet just 24 percent said that risk management was a strategic priority for them.
According to the survey, the top seven worries of today's business owners across all industries are:
Medical cost inflation
Increasing employee benefits costs
Broad economic uncertainties
Tech and data/cyber risks
Complying with laws
Attracting and retaining talent
Source: Business News Daily
Let our agents help you understand how to manage and treat the risks. We offer a wide range of highly rated insurers that can offer the necessary products to help you manage your risks.
A Business Insurance Update
Today more than ever, employees know their rights under the law. Over the years, the United States has created many federal laws and statutes to protect the rights of individuals including; Title VII of the Civil Rights Act of 1964, Title I and Title V of the Americans with Disability Act of 1990, The Age Discrimination in Employment Act of 1967, plus many other state laws. These laws require employers to act in accordance with very specific set of requirements and give employees the right to file lawsuits.
There are many reasons why an employee might make a claim against his or her employer. Typical allegations include wrongful termination, discrimination, harassment and even failure to promote. In an economic downturn, employers tend to have layoffs, and wrongful termination allegations can follow.
We also know that humans are prone to making comments that can be viewed as inappropriate by a coworker whether intentional or just a poor choice of words. Occasionally, a poorly phrased comment or two can lead to harassment allegations. Whatever the reason, Employment Liability claims are on the rise.
An Employment Practices Liability Insurance (EPLI) policy provides insurance against claims and lawsuits brought against an employer, its officers, directors, employees, and managers arising out of employee relationships. These policies generally cover charges in the following areas:
• Discrimination - including age, sex, and gender
• Sexual harassment
• Invasion of privacy
• Emotional distress or mental anguish
• Wrongful termination or discipline
• Negligent compensation, promotion or hiring decisions
• Employee benefits mismanagement
• Breach of contract for employment
An EPLI policy will defend the organization and pay the damages awarded under the terms, conditions, and limits of the policy. Most EPLI policies offer free legal assistance programs. This gives you the opportunity to contact an experienced legal firm to help assist you through an employment issue before it turns into a claim. EPLI policies are written on a “claims made” form, which means it provides insurance coverage for claims that occurred and are made during the policy term or within an extended reporting period if selected. Some EPLI policies contain exclusions that limit coverage during events such as a major workforce reduction, acquisition or merger. Generally, criminal conduct is not covered by an EPLI policy.
The Neate Dupey Insurance Group had its beginnings in 2010 with the establishment of AMD Insurance Services in Scottsdale, Arizona.
Since then, we have grown to become a boutique independent insurance broking and risk management firm, supported by a large panel of national carriers, with clientele throughout the United States.
We occupy the niche between the big national insurance agencies and the typical suburban or captive agency. This makes us the ideal insurance partner for those clients seeking a combination of personal service and technical expertise.