Business Use?
Are you sure the business use of your vehicle is covered under you personal auto policy?
Business use of a vehicle is excluded under your personal auto policy unless it is charged for under a business use rate and it is of limited use described below. Read on...
- Should you apply a decal on the door of your car, advertising you company? NO, not unless it car is titled to your business and covered under a business policy.
- Do you let your employee run business errands in your personal car? NO!!!
- Should you title you Car to your business and add it to your personal policy? NO, it should be covered under a buisness auto policy,
Does your business use fall into one of these categories?
Vehicles owned or leased by the applicant and used in their business or occupation, such as consultants and artisan contractors with no employees
Vehicles used by sales representatives, such as realtors, insurance agents, manufacturer and
company representatives, and home-based sales, such as Avon, Mary Kay and Tupperware
Vehicles used by professionals whose duties include travel to hospitals, clinics, courthouses, job sites or client homes, such as doctors, attorneys, architects, accountants, financial advisors, engineers and clergy
Vehicles used in a business for occasional errands
BUSINESS USE is limited to:
a) The use of the auto is required by, or customarily involved in, the duties of the person operating the auto in his/her occupation, profession or business (includes members of the clergy). Driving to and from the principal place of employment in itself is not Business Use.
b) Examples of acceptable business use risks include:
1. Artisans/Craftsman, if no equipment is carried.
2. Real Estate Agents
3. Service, if no equipment is carried.
4. Salespersons
5. Social Workers
6. Workers carrying their own hand tools to and from a job site.
What BUSINESS USE is excluded from coverage under a personal auto policy?
Vehicles used for transportation of passengers, such as taxis or limousines
Vehicles used for retail or wholesale delivery, such as food (pizza), newspapers,
contract mail delivery and other consumer products
Vehicles operated by employees or coworkers
Vehicles used in security or surveillance operations
Vehicles used to carry tools or equipment weighing more than 500 lbs
Vehicles used to transport flammables or explosives
Vehicles used to accompany wide loads (pilot cars)
***Please contact your agent for clarification on your vehicle usage!
|
Powersports Coverage
The Super Ball game has been won! The Medals at the Olympics passed out! Maybe you looking forward to cleaning up the snowmobile and putting it in storage. Canceling the insurance on it. Oh but wait...is that such a good idea?
The seasonality of powersports (snowmobiles, atv's, boats, rv's) activity in many parts of the country may tempt you to cancel their coverage in the off-season. There are clear advantages for you to maintain yearround protection.
- Premium reflects lay-up period Powersports premiums are calculated to include any typical lay-up period for your locations. Canceling a policy in the off-season could lead to premium increases in the future.
- Off-season physical damage Theft, fire, vandalism,windstorm, or other covered losses are always a possibility, even in storage.
- Protection for liability It's also important to maintain coverage against liability claims. You are still liable for an accident that may occur in or around the vehicle while it's parked or stored, even if you aren't there.
- Loan requirements Lien holders require insurance on powersports vehicles and will check for current coverage. If no insurance is found, they can place coverage themselves, which may cost more.
- Coverage surcharge Many insurers assess a surcharge for lapses in coverage and have stringent guidelines for accepting policies with a prior lapse.
|
 Home Inventory
|
|
Before a catastrophe strikes and you're faced with a loss, make a home
inventory - lists, pictures or a videotape of the contents of your
home. After all, would you be able to remember all the possessions
you've accumulated over the years if they were destroyed by a fire?
Having an up-to-date home inventory will help you get your insurance
claim settled faster, verify losses for your income tax return and help
you purchase the correct amount of insurance.
From a National Association of Insurance Commissioners news release (May 31, 2008), nearly half of Americans do not have a home inventory and are unprepared for disasters:
-
As
the nation braces for the hurricanes, wildfires, tornadoes and floods
that accompany the summer disaster season, nearly half of U.S.
consumers are insufficiently prepared-in terms of their insurance
coverage-to deal with potential losses, according to new research by
the New Hampshire Insurance Department and the National Association of
Insurance Commissioners (NAIC).
-
The
national survey revealed a significant lack of preparedness among
consumers in documenting their belongings. Nearly half-48 percent-said
they did not have an inventory of their possessions. Of those consumers
who reported having a checklist, 32 percent had not taken any pictures
and 58 percent had no receipts validating the cost of their
possessions. In addition, 44 percent of respondents acknowledged that
they had not stored their inventory in a remote location
 Click on image to read more about collecting a home inventory and also to download free home inventory software or inventory sheet.
|
| |
|
