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How to Choose the Right Landlord Insurance

If you rent out a property – whether a single-family house or a 50-unit apartment complex – the right Landlord Insurance can help protect your property and so much more.

Homeowner's Insurance vs. Landlord Insurance

"A standard homeowners insurance policy insures your home's structure (house) and your belongings in the event of a destructive event, such as a fire," the Insurance Information Institute (III) explains. "In addition, homeowners insurance policies are generally 'package policies.' This means that the coverage includes not only damage to your property but also your liability—that is, legal responsibility—for any injuries and property damage to others caused by you or members of your family (including your household pets)."

One of the biggest mistakes many new landlords make – especially if they're renting out a single-family home – is to assume their homeowner's insurance policy will protect them if the rental property incurs damage or someone is injured on the property. Insurance is all about risk, and renting your home to someone else increases risk; therefore, most standard homeowner's insurance policies do not cover damage or injuries if you rent your property to someone else.

That is where landlord insurance comes in. Landlord Insurance is a type of homeowner's insurance that covers damage to your rental property and helps protect you against any lawsuits related to the property. Your coverage may vary, but Landlord Insurance typically covers property damage caused by risks such as fire, lightning, windstorms, vandalism, etc. It also helps cover liability claims, legal expenses, and sometimes loss of rental income.

Because insuring a rental property involves more risk, landlord insurance is typically about 25% more expensive than standard homeowners insurance; however, it is essential to protect your property from damage and yourself from lawsuits. 

5 Steps to Choosing the Right Landlord Insurance

1. Determine Your Property Type - There are many types of properties you can rent out, such as non-owner-occupied residential homes, condos, multi-unit properties, apartment buildings, multi-use properties, and commercial properties.
   
   
2. Understand the Types of Landlord Insurance – There are three basic types of landlord insurance:
   • Dwelling Fire Insurance Policy – Each policy is unique, but this type of insurance typically covers damage caused by fire, vandalism, wind, hail, etc.
   • Business Owner Policy (BOP) – BOPs typically cover property damage and general liability.
   • Commercial Packages Policy (CPP) – This type of insurance is typically best for larger complexes with 150 units or more.
     
     
3. Choose Additional Coverages
   Beyond the basic property damage and liability protection most standard Landlord Insurance policies provide, you may want to consider one or more of these additional coverages:
   • Flood
   • Sewer and water line backup
   • Rent guarantee (Aka tenant rent default)
   • Pet
   • Loss of income
   • Builders risk
   • Umbrella liability insurance
     
     
4. Choose Your Settlement Option
   • Replacement Cost Value (RCV) – If you choose RCV and make a claim, you will be reimbursed based on how much it will cost to replace, repair, or rebuild at today's costs.
   • Actual Cash Value (ACV) – If you choose ACV and file a claim, you will be reimbursed at the current value, factoring in depreciation and normal wear and tear.
   • Modified Replacement Cost Value – "If you own an older home or one that is historically or architecturally significant, you may have to purchase dwelling insurance that comes with modified replacement value coverage," US News explains. "Let's say you own a home built in 1892, and it includes the original ornate crown molding, lath and plaster walls, and custom stained glass. Whether your home is damaged or completely destroyed, modified replacement cost value coverage focuses on functional replacement rather than accurate restoration. You will only receive as much money as it takes to rebuild or repair with current-day materials, including standard molding, drywall, and modern fixtures."
     
     
5. Set Your Policy Limits – Most insurance policies have a limit – the most they will pay if you make a claim. Anything above that limit will be paid out of your own pocket. You may want to lower your limits to save on premiums, but you must ensure you can cover the difference. Or, you may want to increase your limits to ensure you are covered for just about any event.

Work With an Experienced Independent Insurance Agent

Landlord Insurance can be complicated, but the experienced agents at American Insuring Group can help you find the right insurance for your specific needs. Plus, as independent agents, we will compare the cost of your coverage with multiple insurance companies to ensure you get the best price and the right coverage!

Call us today at (800) 947-1270 or (610) 775-3848, or connect with us online.

Driver fatigue could be costing your company higher Commercial Truck Insurance costs and so much more. Why? Because fatigued drivers mean more accidents (see below), and the average cost of a large truck crash with a fatality is $3.6 million, and a crash with injuries is $200,000, according to the Federal Motor Carrier Safety Administration (FMCSA).

So, if you want to lower Truck Insurance and other administrative costs, retain good drivers, and make our roads safer for everyone, you need to address the issue of fatigue with your drivers.

What is Fatigue?

According to the National Safety Council (NSC), “Fatigue describes the feelings of tiredness, sleepiness, reduced energy, and increased effort needed to perform tasks at a desired level.”

“In addition to the dangers of falling asleep behind the wheel, drowsiness has serious effects on a driver’s attention, judgment, decision-making, coordination, vigilance, and reaction time,” according to the Sleep Foundation. “Drowsy drivers may find themselves weaving back and forth between lanes. They may have trouble maintaining the right speed and keeping an appropriate distance from other vehicles and may be unable to react in time to avoid an obstacle. A significant proportion of drowsy driving accidents involve a single driver driving off the road or into another lane at high speed.”

Statistics on Driver Fatigue

If you don’t believe driver fatigue is an issue, consider the following statistics:

• According to the Truck Safety Coalition, 65% of truck drivers report that they often or sometimes feel drowsy while driving, and nearly half of truck drivers admit that they had fallen asleep while driving in the previous year.
• According to Fatigue Science, the principal cause of 13-40% of trucking accidents is fatigue.
• “In the United States alone each year, there are approximately 100,000 fatigue-related motoring accidents per year, resulting in 71,000 injuries and 800 tragic, largely preventable deaths,” Fatigue Science states.
• Fatigue Science states, “The total cost of trucking accidents involving driver fatigue is approximately $20 billion per year. This includes costs such as medical expenses, property damage, and lost productivity.”

Causes of Driver Fatigue

Time of Day – According to the NSC, “People are physiologically programmed to sleep at night and be awake and active during the day.” Therefore, it’s no surprise that drowsy driving crashes typically occur at night or early morning.

Driving Long Hours – Our ability to focus on a task is limited. Driving for long periods can cause fatigue and affect performance.

Sleep Deprivation – Experts recommend that adults get seven to nine hours of sleep daily. Not getting enough sleep can cause a lack of alertness, excessive daytime sleepiness, impaired memory, and more.

Sleep Disorders – The Sleep Foundation reports “50 million to 70 million people have ongoing sleep disorders. The most common among them are insomnia, sleep apnea, and narcolepsy.” Sleep disorders cause daytime impairment in functioning and more.

Medications – Many medications - such as antidepressants, antihistamines, blood pressure, and anti-anxiety medications - can make you drowsy and impair your ability to drive safely.

Lifestyle Factors – Certain lifestyle factors, such as poor diet, stress, a sedentary lifestyle, etc., can contribute to fatigue.

Medical Conditions –Lyme disease, HIV, heart disease, emphysema, depression, MS, Type 2 diabetes, and more can contribute to fatigue. 

Tips to Minimize Driver Fatigue

• Get enough sleep
• Get screened for sleeping disorders
• Try not to drive for more than eight to ten hours a day
• Take regular breaks every two hours
• Eat healthy and avoid heavy meals and fatty foods that can make you feel drowsy
• Exercise regularly
• Avoid alcohol and medications that make you drowsy
• Avoid driving between 12 and 6 am and between 2 and 4 pm if possible
• Maintain good posture
• Stay hydrated
• Take a nap if possible. Even ten minutes can make a difference.
• Recognize the signs of fatigue – headache, blurred vision, frequent yawning, etc.
• Don’t rely on “tricks,” such as turning on loud music, smoking, or opening the windows, which may give you a temporary boost but won’t fight fatigue in the long run.

Lower Commercial Truck Insurance Costs

Understanding and minimizing the risk of driver fatigue will help reduce the risk of accidents and help lower Commercial Truck Insurance and other costs. Another way to lower Commercial Truck Insurance Costs is to work with one of the experienced independent agents at American Insuring Group. We compare rates among competing insurance providers to get you the right policy at the best price.

Call us today at (800) 947-1270 or (610) 775-3848, or connect with us online.

The best way to lower Workers' Compensation (WC) Insurance costs is to create a safer work environment, thereby reducing the number of injuries and the number of WC claims. According to the U.S. Bureau of Labor Statistics (BLS), there were 2,607,900 nonfatal injuries and illnesses in the private industry in 2021 and 5,190 fatal injuries.

"The total cost of work injuries in 2021 was $167.0 billion. This figure includes wage and productivity losses of $47.4 billion, medical expenses of $36.6 billion, and administrative expenses of $57.5 billion," according to the National Safety Council (NSC). "This total also includes employers' uninsured costs of $13.8 billion, including the value of time lost by workers other than those with disabling injuries who are directly or indirectly involved in injuries, and the cost of time required to investigate injuries, write up injury reports, and so forth. The total also includes damage to motor vehicles in work-related injuries of $5.4 billion and fire losses of $6.3 billion."

One way to minimize these costs in your workplace is to create a safer work environment. First, you need to understand the most common causes and the most common types of injuries. Then, you can take steps to eliminate those causes and minimize injuries.

Most Common Causes of Workplace Injuries, Accidents, Illnesses, and Fatalities:

Falls, slips, and trips – Falls, slips, and trips can result in sprains, strains, bruises, fractures, cuts, etc. According to the Centers for Disease Control and Prevention (CDC), 18% of nonfatal work injuries that resulted in days away from work in 2020 were related to slips, trips, and falls.

Transportation incidents - According to the CDC, 1,038 U.S. workers died in work-related crashes involving motor vehicles (22% of all deaths) in 2020.

Overexertion and bodily reaction – Common activities that can cause overexertion and bodily reaction injuries include lifting, pushing, turning, carrying, and throwing. According to the NSC, in 2020, overexertion and bodily reaction were the second leading nonfatal injury or illness event involving days away from work, representing 22% of all such injuries.

Contact with objects and equipment – According to the NSC, "Prior to 2020, contact with objects and equipment was the third leading cause of injury and illness involving days away from work and accounts for 16.7% of cases in 2020."

Exposure to harmful substances or environments – This can include exposure to electricity, radiation, noise, extreme temperatures, harmful substances, etc. "Because of illness cases related to COVID-19 (coded as Other diseases due to viruses, not elsewhere classified [n.e.c.]), the leading cause of work-related injuries and illnesses involving days away from work in 2020 was exposure to harmful substances or environments," according to the NSC. Still, exposure to harmful substances or environments was the sixth-ranked cause before 2020.

Fire and Explosions – According to the NSC, in 2020, 1,770 workplace injuries resulted from fire and explosions.

Most Common Workplace Injuries:

• Ligament Sprains and Tears
• Tendon and Muscle Strains and Tears
• Herniated Discs
• Repetitive Use Injuries
• Cuts, Lacerations, Punctures
• Lacerations
• Bruises and Contusions
• Broken Bones
• Neck and Back Injuries
• Shoulder Injuries
• Burns
• Electrocutions

Tips to Minimize the Risk of Workplace Injuries:

• Conduct Regular Risk Assessments
• Conduct physical assessments for demanding roles
• Provide safety and wellness training
• Hire qualified workers
• Hire enough workers
• Keep workspaces clean and walkways clear
• Post proper signage
• Provide adequate lighting
• Practice good equipment and vehicle maintenance
• Provide appropriate PPE
• Require employees to dress appropriately for their roles
• Discourage employees from taking shortcuts
• Understand Safety Standards and Regulations
• Consider workplace ergonomics to reduce the risk of Repetitive Stress Injuries

Lower Your Workers' Compensation Insurance Costs

Understanding the most common causes and types of injuries and taking steps to minimize the risk of those injuries is one way to lower WC costs.

Another way is to work with the experienced independent agents at American Insuring Group, Ltd. We offer cost-effective Worker's Compensation insurance from various competing insurance companies. We'll work hard to get you the best price on quality insurance to protect your employees and your business!

Call us today at (800) 947-1270 or (610) 775-3848, or connect with us online.

The right Contractors Insurance helps protect you, your business, and your employees; however, minimizing the risk of injuries, litigations, property damage, etc., helps keep your insurance and other administrative costs down. We all know construction sites are filled with safety hazards and risks, such as working at heights, falling objects, excessive noise, electrical hazards, etc.

“In 2020, construction laborers saw their highest annual fatal injury count (308) in the last 5 years,” according to the U.S. Bureau of Labor Statistics (BLS). “Construction laborers accounted for almost a third of all fatal injuries in construction and extraction occupations in 2020, the highest proportion since 2016.”

Winter weather - such as extreme cold, frigid winds, snow, and ice - adds to the year-round hazards. We were lucky to have a mild winter here in the northeast last year, but experts predict lots of rain/sleet and snowstorms this winter. Therefore, it would be wise to hope for the best but prepare for the worst when keeping your worksites safe this winter.

Construction Site Winter Hazards

To properly mitigate any risk, you need first to consider potential hazards:

• Extreme cold
• High winds
• Icy roads and surfaces
• Snow and ice on scaffolding, equipment, etc.
• Frozen pipes
• Downed powerlines

Along with the potential result of those hazards:

• Slipping and falling
• Loss of dexterity
• Loss of alertness
• Cold stress (cold-related illnesses and injuries)

Winter Safety Tips for Contractors

Watch Weather Forecasts. There are plenty of weather apps today, so you can keep an eye on the weather forecast to ensure you don’t send your workers out in dangerous conditions, such as a blizzard.

Remove Snow and Ice From the Worksite. Before work begins, a supervisor should survey the worksite to determine any potential hazards. Snow should be removed from the worksite to prevent slips and falls, and salt or sand should be applied to melt ice.

Require Proper Clothing and Gear. The right clothing can help protect your workers. Wearing layers is always a good idea so workers can adjust what they’re wearing as the weather changes. The “layering system” consists of three layers – the base layer to regulate your body temperature and wick away moisture from the skin, the mid-layer to provide insulation, and the outer layer to protect you from the wind and snow.

Based on weather conditions, workers should also wear heavy-duty work boots with good traction, appropriate coats, warm socks, gloves, hard hat liners, and eye protection.

Provide Heated Breaks When temperatures are particularly frigid, workers must limit their exposure to the elements. Provide a heated area, such as a heated trailer or a tent with a portable heater, where they can take breaks and escape the elements.

Avoid Caffeine According to BC First Aid, to prevent frostbite and hypothermia, you should “avoid caffeine and alcohol, which hinder the body´s heat-producing mechanisms and will actually cause the body´s core temperature to drop.”

Recognize the Symptoms of Cold Stress. Anyone who has to work in a cold environment may be at risk of cold stress. “Cold stress occurs by driving down the skin temperature, and eventually the internal body temperature,” according to the Occupational Safety and Health Administration (OSHA). “When the body is unable to warm itself, serious cold-related illnesses and injuries may occur, and permanent tissue damage and death may result.” Cold-related injuries include hypothermia, frostbite, chilblains, and trench foot.

OSHA reports the risk factors for cold stress include the following:

• Wetness/dampness, dressing improperly, and exhaustion
• Predisposing health conditions such as hypertension, hypothyroidism, and diabetes
• Poor physical conditioning

OSHA provides this “Cold Stress Guide,” which lists the symptoms of the different types of cold stress and what to do if any of your workers experience them.

Lower Your Contractor Insurance Bill the Easy Way!

At American Insuring Group, we do more than provide you with affordable contractor and construction insurance. We perform an in-depth review of your business. Then, we compare the costs and types of liability insurance for contractors among many competing carriers, providing you with multiple contractor insurance quotes and our recommendation on the best choice for your business. 

Call us today at (800) 947-1270 or (610) 775-3848, or connect with us online.

Your rental property is a significant investment, and the right Landlord Insurance can help protect that investment. There are steps you can take to help keep your rental property safe, thereby keeping your insurance and other costs down, attracting better tenants, and avoiding unnecessary headaches and hassles.

8 Tips to Keep Your Rental Property Safe

1. Install Fire Extinguishers

According to the National Fire Protection Association (NFPA), A fire department responds to a fire every 23 seconds in the U.S. at a cost of about $328.5 billion annually. Fire extinguishers can put out about 80% of all fires, yet less than half of Americans own a fire extinguisher. Install portable fire extinguishers in public spaces and each unit within your rental property and ensure they are easily accessible. Also, remember to regularly inspect the fire extinguishers to ensure they are in good working order.

2. Install Smoke Detectors

In Pennsylvania, landlords are required to provide smoke unless there's a fully automated sprinkler system. Smoke alarms save lives and money. According to the U.S. Fire Administration, "38% of residences had an operable alarm during a fire, but these fires accounted for only 8% of total property loss." Install smoke detectors, but also remember to inspect them regularly, and although legally it is the tenants' responsibility, consider replacing the batteries regularly.

3. Install Flood or Moisture Detectors

Flood or moisture detectors can alert you to small leaks before they cause damage and become more expensive repairs. And they can quickly alert you if you have a bigger problem like a burst pipe.

4. Install Adequate Lighting

Installing adequate lighting along walkways, entries, and public areas like hallways and lobbies can help prevent vandalism and theft. Good lighting can also minimize the risk of falls, reducing the risk of a lawsuit.

5. Secure Doors and Windows

Keep your tenants safe and reduce the risk of vandalism and theft by ensuring that all doors and windows are secure. Every window and door should have a lock. All individual units should have a deadbolt. Entry and exit doors should be made of steel or solid wood core. If your property is in a high-crime area, you may want to consider installing security bars on the windows.

6. Install Security Cameras

Security cameras have become more affordable than ever, and installing security cameras outside or in public areas can help protect your property. However, it's important to understand the laws in your area regarding the use of security cameras.

7. Screen Your Tenants

Screening helps ensure that you get tenants who are less likely to engage in vandalism or criminal activity or damage your property. Experts suggest having tenant screening criteria, such as no smoking, adequate income, no history of violent crimes, etc.

8. Get the Right Landlord Insurance

Sometimes, despite your best efforts, an injury or property damage occurs. It's best to consult an experienced insurance agent to ensure you have the right landlord insurance to protect your property. For example, did you know that if a rental unit is vacant for an extended time, you may be required to purchase Builder's Risk Insurance because the risks associated with a vacant property are different from those of an inhabited property; therefore, your regular landlord insurance policy may not cover the damage. 

Do You Have the Right Insurance for Your Rental Properties?

Landlord insurance is essential for protecting your rental property; however, you don't want to overpay for insurance coverage. The independent insurance agents at American Insuring Group compare rates and coverage from competing insurance companies to find you the right policy at the right price!

Call today at (800) 947-1270 or (610) 775-3848, or connect with us online.

Your Commercial Truck Insurance premium is based on your level of risk. In other words, insurance companies want to know the likelihood that you will have an accident, injury, lawsuit, etc., and make an insurance claim. To determine your level of risk, they look at several factors – your drivers, your vehicles, where you drive, etc. – to determine how likely you are to make a claim. The lower the risk, the lower the premium.

You can take many obvious steps to lower truck insurance costs, such as driver safety training, increasing your deductible, bundling policies, etc. Still, there are also a few ways that may surprise you.

5 Surprising Tips to Lower Commercial Truck Insurance

1. Maintain Good Credit:
In addition to the obvious factors, such as previous claims, insurance companies also consider how you conduct your business. Although controversial, many consider companies with good credit to be responsible and less risky.

“An insurance score, also known as an insurance credit score, is a rating computed and used by insurance companies that represents the probability of an individual filing an insurance claim while under coverage. The score is based on the individual’s credit rating and will affect the premiums they pay for the coverage,” Investopedia explains. “Low scores reflect higher risk, so a high score will result in lower insurance premiums. Conversely, a low score will result in higher premiums.”

2. Pay Your Bill Promptly:
Insurance companies don’t want to waste resources by sending out late reminders. Being consistently late with payments won’t help lower your insurance premiums. Furthermore, if you make a claim while you are delinquent on payments, you may have a battle collecting on the claim. Always pay your insurance bill on time, or consider setting up automatic withdrawals. Or even better, pay your bill in full to enjoy even more savings.

3. Maintain a Clean DOT Safety Rating:
According to the Federal Motor Carrier Safety Administration (FMCSA) – the granter of your safety rating, “A safety rating is an evaluation of a motor carrier’s compliance with the safety fitness standard.” Your rating may be Satisfactory, Conditional, or Unsatisfactory. “Your DOT safety rating is a critical company asset that must be protected at all costs,” Trucksafe Consulting explains. “Failing to do so can result in increased insurance costs, lost business, and even a company-wide out-of-service order.”

4. Hire Safe Drivers:
Your drivers can be your greatest asset or your biggest liability. Unsafe drivers increase operating costs (including insurance premiums), increase turnover rates, and can damage your business reputation. Data shows that “the best drivers can reduce costs by more than 12%, but the worst drivers can increase costs by more than 13%.” 

Tips for Hiring Safe Drivers

• Hire experienced drivers
• Review motor vehicle records
• Contact previous employees
• Review DOT Safety performance
• Conduct pre-employment drug testing
• Require a road test
• Keep detailed records

5. Choose the Right Commercial Truck Insurance Agent

An experienced insurance agent specializing in Commercial Truck Insurance can help ensure that you get the right insurance, that you aren’t paying for insurance you don’t need, and that there are no gaps in your coverage. An independent insurance agent will check with several insurance companies to ensure you pay the lowest premium.

Lower Your Commercial Truck Insurance Rate

At American Insuring Group, we go beyond providing you with affordable truck insurance. We carefully analyze the needs and risks associated with your business. We match you up with the best trucking insurance policy based on a careful analysis of many competing insurance companies.

Give us a call today at (800) 947-1270 or (610) 775-3848, or connect with us online.

Transitional work – part of a return-to-work program - can help lower Worker Compensation Insurance rates and provide many additional benefits.

What is Transitional Work?

Transitional work allows employees injured on the job to get back to work more quickly and safely. Transitional work is a temporary situation that acts as a "transition" until they can return to their full work duties. The transitional work must always be within the injured employee's physician's restrictions, or you risk aggravating the injury.

3 types of transitional work

1. Alternate or Light Duty – With this type of work, the injured employee does less physically demanding work than their regular job.
2. Modified Duty – With this type of work, the injured employee continues to do his regular job but with engineering modifications to the employee's workstation.
3. Work Hardening – With this type of work, the injured employee performs their regular job but slowly increases the difficulty level until they reach their pre-injury work level. This may mean working reduced hours.

What Are the Benefits of Transitional Work?

Studies show that getting an injured employee back to work as quickly and safely as possible benefits the employer, the employee, and even co-workers.

Benefits of getting an employee back to work for the employer:

• Claims are resolved more quickly
• Reduced WC claim costs
• Increased productivity
• Retention of experienced employees
• Reduced accidents
• Reduced absenteeism
• Reduced staff turnover
• Lower training costs
• Reduced overtime pay
• Reduced administrative costs
• Decreased number of grievances and arbitrations
• Improved employee morale and employee relations
• Shows employees that the employer cares about the well-being of its employees

 Benefits of getting an employee back to work for the employee:

• Maintained employment relationship
• Minimizes loss of physical fitness
• Maintained skills
• Maintained pension plans, medical benefits, and group life insurance
• Maintained vacation and sick day benefits
• Maintained social connections and a sense of purpose
• Focuses on abilities rather than disabilities
• Quicker recovery time

How to Develop a Transitional Work Program

"Unfortunately, too many employers see a transitional duty program, also known as a return-to-work program, as a 'make work' situation for both the employer and the injured employee," Michael Stack from the Workers Comp Resource Center explains. "This approach to a return-to-work program often frustrates both employer and employee."

While transitional work needs to be tailored to each individual's work tasks and physical abilities, it should not be quickly thrown together to respond to a crisis. Employers should develop a transitional duty program before it is needed.

Transitional Work Program Tips:

• Create a written return-to-work (RTW) program
• Communicate the RTW program to all supervisors, managers, and employees
• Develop detailed job descriptions for every employee - A detailed job description is an essential tool for a physician to determine whether an injured worker can return to work in either a full or modified capacity.
• Create a list of less demanding tasks that need to be done, such as filing, answering phones, training, or inventory.
• Keep the transitional work as close to the employee's original job duties as possible
• Review the transitional work with the injured employee and address any concerns or issues
• Consult with the treating physician as needed
• Let your insurance agent know when the employee returns to work

Lower Your Workers' Compensation Insurance Costs!

At American Insuring Group, Ltd., we offer cost-effective worker's compensation insurance from various competing insurance companies. We'll work hard to get you the best price on quality insurance to protect your employees and business.

Call us today at (800) 947-1270 or (610) 775-3848, or connect with us online.

The right Contractor Insurance can help protect you, your employees, and your business. One serious workplace injury, lawsuit, or cyber-attack can put you out of business if you don't have proper insurance.

But how do you know what is the "proper" insurance for your needs? Understand common Contractor Insurance myths and work with one of the experienced independent insurance agents at American Insuring Group, who can walk you through the process and answer all your insurance questions.

7 Common Contractor Insurance Myths

Myth 1: A General Liability policy or umbrella policy will cover me.

FACT: General Liability protects your business premises from hazards, such as someone falling and injuring themselves in your office; however, it doesn't cover an employee who is injured on the job.

And Commercial Umbrella Insurance does not provide primary liability coverage. It offers additional coverage on liability claims on your existing insurance policies if a claim exceeds your policy's limit.

Myth 2: It's just me and another guy who helps out a couple of hours a week, so I do not need to carry Workers' Compensation Insurance.

FACT: The PA Department of Labor & Industry states, "Workers' compensation coverage is mandatory for most employers under Pennsylvania law. Employers who do not have workers' compensation coverage may be subject to lawsuits by employees and to criminal prosecution by the commonwealth." This includes both full and part-time employees, even if they are family members. There are very few exceptions.

Truthfully, even if you have no employees, Workers' Compensation Insurance is a good investment. How long do you think you and your family could survive without your income if you're injured on the job? Workers' Compensation pays for medical expenses and part of your lost wages if you are injured on the job. 

Myth 3: I don't need commercial auto insurance.

FACT: This is true if neither you nor your employees ever use a vehicle for business. However, your personal auto insurance will probably not cover injuries or damage if a vehicle (owned by the company, you, or someone else) is used for business purposes.

Myth 4: Only large construction companies get sued.

FACT: One poll found that 43% of small-business owners have been threatened with or involved in a civil lawsuit, and the cost of litigation ranges from $3,000 to $150,000, according to SCORE. "The financial hits of litigation can be far more damaging to small businesses than to large ones, which often staff in-house legal counsel and devote a portion of their budget to legal defense," SCORE advises. Could your business survive a $100,000 lawsuit if you needed to pay it out of pocket? The right Contractor Insurance helps pay for legal costs and judgments against your business.

Myth 5: As a small construction company, I'm safe from cyber-attacks.

FACT: Forbes reports that 43% of cyber-attacks target small businesses. "If you're still in denial about the chances of your small business becoming a victim, 61% of all SMBs [small to medium-sized businesses] have reported at least one cyber-attack during the previous year," Forbes states. "Despite the staggering numbers, 91% of small businesses haven't purchased cyber liability insurance. This truly reflects how unaware and unprepared small business owners are to deal with security breaches." 

Myth 6: Contractor Insurance is too expensive.

FACT: The right insurance policy is affordable, protects your business, and provides peace of mind. Without insurance, one significant accident or lawsuit could put your construction company out of business, which makes insurance a smart investment. 

Myth 7: I'm better off buying Contractor Insurance directly with an insurance company rather than an independent agent.

FACT: You will pay the same insurance premiums whether you buy directly from the insurance company or through an independent agent. The difference is that an independent agent will check the cost of your insurance premiums with several companies to ensure you get the best deal. Furthermore, agents specializing in Contractor Insurance can answer your questions, help ensure you have the proper coverage, and be there for you if you have any issues.

How to Find an Independent Agent Who Specializes in Contractor Insurance

The independent insurance agents at American Insuring Group specialize in Contractor Insurance. We can ensure you have the right insurance to protect your business at the lowest cost. We compare rates among competing insurance companies to save you money!

Call us today at (800) 947-1270 or (610) 775-3848, or connect with us online.

Have you made the plunge into real estate investments and become a landlord? If you have, you aren't alone. Experts estimate that there are 10 -11 million individual investor landlords in the U.S. Real estate investments can be a great way to build wealth, but you need to do your research before taking the plunge.

You need to recognize the unique risks landlords face and protect your investment with the right Landlord Insurance. You don't want to pay for insurance you don't need, but then again, you don't want to leave gaps in your coverage. The first step is understanding the types of Landlord Insurance available to you. You probably don't need them all, but you should at least be aware of your options.

10 Types of Insurance Landlords Need to Consider 

1. Landlord Insurance – These policies typically cover a range of risks, such as property damage, loss of rental income, liability claims, and legal expenses.
   
   
2. Hazard and Fire – This insurance covers damages caused by fire, storms, explosions, and other hazards.
   
   
3. Commercial Liability – Liability insurance helps pay legal fees and awarded damages if a tenant or guest sues you.
   
   
4. Flood – Hazard and fire insurance should cover you in the event of a broken pipe; however, it may not cover damage caused by water coming in from the outside., such as the July 17th storm in Berks County. WFMZ reported, "Many watched helplessly as their basements filled up with water from Sunday's storm." Flood insurance can help you recover from such an event.
   
   
5. Sewer and Water Line Backup – A break in your sewer or water line can cause a great deal of damage. Sewer and Water Line Backup coverage can help pay for repairs and cleanup.
   
   
6. Rent Guarantee (Aka Tenant Rent Default) – If you rely on the cash flow provided by rent from your tenants, you may want to look into rent guarantee insurance, which covers you if a tenant skips out without paying rent.
   
   
7. Pet – For many, their pet is part of the family, and they couldn't imagine living without them. Therefore, allowing tenants to have pets can reduce vacancy and enable you to charge higher rents. But pets can cause damage or injuries, so if you decide to make your property pet-friendly, you may want to consider pet coverage.
   
   
8. Loss of Income – If there is a fire or flooding, or any damage that makes a property uninhabitable for an extended period, loss of income coverage provides compensation to help with cash flow.
   
   
9. Builder's Risk – If you are renovating a vacant property, you may want to consider builder's risk insurance to protect against vandalism, theft, and other damages.
   
   
10. Umbrella Liability Insurance - Umbrella liability insurance is designed to protect your business against catastrophic losses that exceed the limits of other policies or for losses not covered by other policies. Think of it as an upgrade to your existing insurance that goes above and beyond.

How to Choose the Right Landlord Insurance Policy

When choosing landlord insurance, consider the following:

• Coverage limits: Ensure the policy offers sufficient coverage for your property and needs.
• Deductible: The amount you'll need to pay out of pocket before the insurance coverage kicks in.
• Premiums: While it's important to find a policy that fits within your budget, it's also vital to ensure that you're getting sufficient coverage.

Save Now on Landlord Insurance

American Insuring Group offers a range of Landlord Insurance policies to fit your needs and budget. Our experienced independent agents can help you find the right policy to protect your investment at the best possible price, as we carefully compare competing offers from various insurance carriers.

Call today at (800) 947-1270 or (610) 775-3848, or connect with us online.

We focus a great deal of time on safety to lower Truck Insurance because, as you know, accidents involving heavy trucks typically have serious consequences. And the more accidents and resulting insurance claims you file, the higher your insurance premiums.

One of the most vulnerable groups on the road is pedestrians, who have no protection when an accident occurs. According to the National Highway Traffic Safety Administration (NHTSA), 7,388 pedestrians were killed in the U.S. in 2021 – a 13% increase from 2020 – and more than 60,000 pedestrians were injured. Therefore, pedestrian safety should be a part of any driver training.

10 tips to increase pedestrian safety for Commercial Truck Drivers

1. Start Safe
   Before you begin driving, check your vehicle, clean headlights, windshield, windows, and mirrors, adjust the seat and mirrors, know your route, and identify areas you are more likely to encounter pedestrians.
   
   
2. Eliminate Distractions
   “71 percent of large-truck crashes occurred when the truck driver was doing something besides driving the truck,” according to the NHTSA. “Staying focused on driving can help keep you, and other road users, safe on the road!” They recommend the following tips:

• Don’t text while driving
• Don’t use a dispatching device while driving
• Don’t dial a handheld phone while driving
• Don’t read, write, or use paper maps while driving
• Avoid eating and drinking when driving
• Don’t let objects outside of your truck distract you

3. Be Vigilant
   Constantly scan for pedestrians on the street, sidewalks, exiting vehicles, etc., especially in congested areas or areas where pedestrians are more likely to be. According to the Centers for Disease Control and Prevention (CDC), “Most pedestrian deaths occur in urban areas, on roadway locations away from intersections (where higher speeds might occur), and at night.”
   
   
4. Be Patient
   We understand that you have deadlines you need to meet. However, an accident will only delay you more, so be patient with pedestrians, especially older adults or those with disabilities.
   
   
5. Assume Pedestrians Are Unaware of Truck Blind Spots
   You know where your blind spots are, but you may be surprised how many pedestrians do not. Many pedestrians also don’t know how your trailer will behave when you make a turn. Assume that pedestrians will not know to avoid risk areas and blind spots.
   
   
6. Consider Driving Conditions
   Weather and road conditions can affect how quickly you can stop. Poor lighting or a nasty storm can make it harder to see pedestrians. Use extra caution and reduce your speed when driving conditions are less than optimal.
   
   
7. Exercise Extra Care at Intersections
   Scan several times for pedestrians as they are sometimes easy to miss. Slow down as you approach an intersection, and be prepared to come to a complete stop. Make eye contact with pedestrians and give them the right of way.
   
   
8. Don’t Block Crosswalks
   Whether the crosswalks are marked or not, going around your vehicle can put pedestrians in the path of moving traffic.
   
   
9. Notice Distracted Pedestrians
   Just like drivers, pedestrians can easily be distracted. Watch for pedestrians using handheld devices, wearing headphones, with children, etc. They may walk slower, ignore traffic, be unaware of hazards, etc.
   
   
10. Remember – You are the Best Line of Defense
    Driver error is the cause of many large truck accidents. Therefore, as the driver, you are the best line of defense when it comes to protecting pedestrians.

Lower Your Truck Insurance Costs

Minimizing accidents and the resulting claims is just one way to lower Truck Insurance costs. American Insuring Group specializes in Truck Insurance, so we can ensure you have the right coverage at the best price. As independent agents, they will compare the cost of your coverage with several insurance carriers to ensure you pay the lowest premium.

Give us a call today at (800) 947-1270 or (610) 775-3848, or connect with us online.