What To Expect When Applying for Commercial Insurance

insurance loss runs

As a business owner, purchasing commercial insurance is one of the best ways to protect your company from liabilities. The application process, however, can be difficult.

Applying for insurance often requires showing documentation about your company, such as your prior insurance history. Knowing what to expect during the insurance application process can help you obtain commercial insurance faster and easier.

Documenting Past Claims

If a new insurance company requests information such as insurance loss runs, it is up to you to give the company this information as quickly as possible. Some of the information you provide may have an impact on your policy, including how much you pay.

Insurance loss runs are reports your existing company can provide for you to pass on to the new insurer. Loss run reports list all the claims you made with your existing company. The new provider will use insurance loss runs to analyze how many claims you submitted, the reason for the claims and how much the insurer paid out. Most companies ask to see three to five years of loss history.

Filling Out Application Paperwork

On top of obtaining documents for your new insurance company, you will also need to submit a fully completed application for commercial insurance. The application process can be lengthy and involve a great deal of information you must provide to the insurer. You can always ask for help from a licensed agent if you need assistance with your application.

Protecting Your Business From Accidents or Injury

stop gap insurance coverage

Protecting Your Business From Accidents or Injury

As an employer, there are few things less alarming or concerning than having an employee injured on the job. Not only can this be stressful, but from a business standpoint, this can also mean you may have to replace your employee until they recover, and even worse, deal with legal issues including costly reparations. Because of the potential consequences of having to deal with this, liability insurance and stop-gap insurance coverage can ensure your employees will be adequately taken care of in case an accident occurs.

Be Proactive

The best way to protect your business from these types of liabilities is to be proactive. This means physically setting up your place of business to be as safe as possible as well as covering yourself legally in case an accident occurs. Some things you should do well in advance include:

Ensuring your facilities are up to code

Scheduling regular maintenance services

Scheduling repairs as soon as possible

Blocking off areas under maintenance or repair

Regular training to keep employees up to date on safety protocol

Ensuring that accidents or injuries are covered in the policy and getting stop-gap insurance coverage as needed

While having a positive work environment is important, employee safety and well-being should be non-negotiable. Be sure to check if your policies are current and that all your bases are covered.

The Consequences of Lacking E&O Coverage

New York E&O

E&O insurance or Errors and Omissions insurance is professional liability insurance. These policies protect companies and their workers against negligence allegations and claims of inadequate work. No matter your industry, these types of suits can happen to anyone. However, they are most likely to occur in the insurance, financial and legal industries. Without New York E&O coverage, here is what you stand to face.

Litigation Costs

Without insurance, you have to pay all of the litigation costs. It doesn’t matter if its a frivolous lawsuit or a legitimate one. Both cost money to fight and you have to pay out of pocket if you don’t have the insurance.

Reputation Damage

When people hear about pending lawsuits, they may trust your accuser more than they trust your company. When you have a lawsuit pending, you need to do serious damage control to save your image. Likewise, you need to show your worth if brought to court. It’s difficult to do this if your business has to fit the bill for all of the legal costs.

When it comes to New York E&O coverage, you don’t want to skimp on it. This will help you and your employees in the case of any negligence allegations. Not only does it protect you when there’s no weight to the allegations, but even when there is.

Keeping You and Your Residents Safe

nursing home insurance coverage

The aging population of America means more and more nursing homes will be required across the country. These homes will play a critical role in the lives of thousands of families and therefore require the right kinds of insurance. Without protection, homes may find themselves hit with costly fees and may even leave residents without a home if their center suffers financially. Here a few policies that should be included in a nursing home insurance coverage package.

Commercial Auto

If you operate a nursing home, chances are your residents will want to head out to church, special events or shop. This requires transportation that can be covered under a nursing home plan. Now you can take your patients wherever they need to go knowing your finances and their medical expenses can be covered after an accident.

General Liability

Even a nursing home is not safe from accidents. General liability can help whenever a resident or even a visitor falls or slips on the property.

Professional Liability

Your staff is responsible for the safety and health of your residents around the clock. What happens if an employee has a mistake or neglects a patient? Professional liability deals with the possible claims that may result.

Obtaining nursing home insurance coverage doesn’t have to be a complicated process. Get working with an agent or broker that specializes in this care and protect your home.

Coverage for Restoration Services

moody insurance

Coverage for Restoration Services

In the US, there are two types of storm chasers. The individuals that head out before a storm happens to track its progress, and the companies and individuals that come behind the storm and clean up the mess. If you are a cleaning or restoration company, you know all too well the devastation mother nature can bring to homes and businesses. Without the right insurance coverage, such as the programs offered by Moody Insurance, you might find your company devastated by liability claims. The types of coverage you should consider for your business include:

Business Property

Comprehensive General Liability

Extended Property Damage

Lost Key coverage

Crime and Employee Fidelity

Workers Compensation

Excess/Umbrella Liability

Business Automobile

The work your company will perform can range anywhere from carpet cleaning to mold removal or large construction projects. Each area of interest and services will have its own set of liabilities for employees, but the customer’s location and property can also be a concern when thinking of theft and employee actions. Traveling to the job site in a company vehicle, removing debris and transporting materials opens several automobile concerns.

When you take out a policy with Moody Insurance, you will find their areas of expertise include cleaning and restoration. With their knowledge of your industry, they can find the right coverage to meet your company needs.

Builders Insurance: Is it Necessary?


Builders Insurance: Is it Necessary?

When it comes to Santa Fe builder insurance, it isn’t always required by law. This doesn’t mean that you should skip out on it, however. To skip out on insurance is a gamble that most don’t want to take. This is what you need to know about the builder’s insurance.

Risks Without Coverage

Accidents happen. Incidents happen at construction sites that you can’t predict or stop. Due to this, you need some form of protection. If your project ends up delayed or derailed, you need insurance to keep the build from going under ultimately.

Types of Coverage

Builders risk policies come in all shapes and sizes. What your construction business requires has everything to do with the specifics of your business. Here are the three main types of coverage you’ll see.




Basic coverage protects against primary risks, like lightning, wind, fire and even explosions. Broad protects against all of that, plus a little more. For instance, water damage and falling objects may be included. With individual coverage, you have protection against theft and other unfortunate incidents.

Its important to note that the builders insurance will cover not everything. Some perils require other policies.

Instead of skipping out on Santa Fe builder insurance, make sure you check all available coverages and choose what works for your business. Any amount of protection is better than none at all.

3 Common Problems Facing Septic System Owners

Removing waste from a home is essential for healthy modern living. When a city sewer system is unavailable, homeowners rely on septic systems to remove waste products to a location away from their home. Septic system insurance helps protect your business when facing common septic system problems.

Contaminated Water

Septic system installers must be careful when designing and installing the system to avoid contaminating drinking and surface water on the property. Placing the tank away from bodies of water and drinking water sources can help prevent contaminated water. Check all the water lines for leaks or breaks as a source for the contamination.

Sewage Odors

Sewage odors can sometimes permeate the outdoors or the home due to improper ventilation or plumbing. Making sure the system has the necessary vents and a sound plumbing system can prevent these issues. Check for additional sources of the smell by looking for leaks and checking the pump station.

System Overloading

When mom moves back home or a family continues to expand, it can overload or tax an older system. The more people using the system, the more water is used for bathing, laundry, cooking and toilets. Too much water can overwork and undersized system. Make sure the clients system is the right size for their needs.

Proper maintenance of the septic system can help prevent future problems. Make sure your business is insured with septic system insurance as you continue to provide valuable services to your residential customers.

Coverage Options for Social Services Programs

social services insurance programs

Coverage Options for Social Services Programs

Social services programs serve the communities around them. Its important for any organization that helps the community to have insurance coverage that protects them. Social services insurance programs are imperative.

What Organizations Are Covered?

Social services is a large umbrella term. It can count for a number of different organizations. Some of these organizations include:

Religious institutions
Residential care
Food banks
Foster care facilities
Community action organizations
Emergency shelters

The types of organizations that may need social services insurance vary. The best way to know if your organization counts is to speak with an insurance broker about your coverage options.

What Options Are There?

There are several different protections that an organization needs. For instance, if you have employees, then youll need to keep them safe. Likewise, you may need to keep your managers or directors protected against claims. Here are some of the coverages available:

Cyber liability
D&O coverage
EPL coverage
Fiduciary coverage
Workers compensation

When it comes to coverages that you need, you can find what will best protect your organization.
Social services are crucial to the communities that they are a part of. When it comes down to it, all social service organizations need to have insurance coverage. In order to know the best social services insurance programs for you, you should speak to a broker.

Why Insurance is Necessary for a Home Care Agency

home care agency insurance

Home care agencies involve providing care to individuals who need daily care related to housekeeping and certain medical needs. While this provides an important service to these folks, it’s important to have the necessary coverage to avoid problems. Here’s why home care agency insurance is necessary for agencies, workers, and the people they care for.

Insurance Provides General Liability Coverage

Although general liability doesn’t sound specific to a home care agency’s needs, it provides protection against problems such as bodily injury and property damage. These are more likely to occur in someone’s home than a traditional healthcare setting, so it’s important to protect workers and the agency from these problems.

Worker’s Compensation Handles Injury Issues

Injuries are common at any job. For those involved working in people’s homes moving and handling patients, this is even more common. Having a worker’s compensation program on insurance can protect against a costly issue from arising.

Professional Liability Protection

Sometimes claims against agencies and the individuals working for them can arise. Even in cases where these claims are unfounded, it’s necessary to have insurance coverage in case the agency is taken to court. Having this kind of protection keeps agencies from getting involved in costly court proceedings.

Home health care agency insurance is necessary for agencies and individuals. It can protect against accidental injuries for the person receiving care as well as the worker. Altogether, this can save agency money should they get involved in court or need to pay out of pocket costs.

Necessary Insurance for Cyber Risks

cyber insurance

Necessary Insurance for Cyber Risks

Cyber attacks continue to evolve at an alarming rate, with businesses struggling to keep up. Cyber insurance is essential to allow companies to protect the business and assets, including consumer information if network security is breached.

How Coverage Helps Your Business

It seems as though there is a never-ending list of cyber risks for a business, including lost data, leaked customer information, system malfunctions and dangerous viruses. These can lead to expensive costs for businesses that must conduct forensic analysis to find the breach and the extent of the damage, as well as any costs associated with the recovery. Cyber insurance can help a company in the following ways after a breach has occurred:


Legal fees, including settlements
Regulatory fees, including investigations and fines
Customer and employee notification costs
Reimbursement for cyber extortion
Credit monitoring for customer accounts
Public relations expenses

Protecting Your Business From Data Breaches

Just because you have network security does not mean your business is safe from cyber attacks. Including cyber insurance as part of your commercial policy can help lessen the damage to your business, client accounts and reputation if a breach occurs. A cyber attack doesn’t have to be the end of your business and the right insurance policy can help you move forward.