Contractor’s Pollution Liability (CPL): What it is and Why it is Necessary
Contractors – do you need Pollution Liability coverage? Have you discussed the pollution exclusion in your General Liability policy with your agent? Contractor’s pollution liability (CPL) provides third-party coverage for bodily injury, property damage, clean up expense, and defense expense as a result of your creation of a condition that is considered pollution. This condition…
Read MoreWill Your Farm Equipment Survive an Ohio Winter?
Halloween is in the past now and the season’s officially upon us. You’re probably already busy planning for the holidays, and figuring out which loved ones you’ll be spending time with this year…that is unless you haven’t yet properly prepared your farm equipment for the Ohio weather that Old Man Winter will throw at us…
Read MoreThe Basics of Insurable Interest
Gino is buying a 14-unit apartment building that is structurally solid, but needs both maintenance and repair work. Three days ago Gino and Toby entered into a purchase contract in the amount of $300,000. Along with signing the purchase contract, Gino also put a $20,000 deposit down on the apartment building. Toby, the current owner…
Read MoreDon’t Get ‘Snowed’ This Winter
Winter in Northeast Ohio is right around the corner and many snow removal contractors are signing contracts for the 2020-2021 season. While revenue is of great concern during these unprecedented times, don’t forget to create a loss control program to reduce your insurance losses. Before the first snowfall take a digital picture of each client’s…
Read MoreMechanical Breakdown Insurance More Than Boiler Insurance
During a heatwave, many systems are being worked to their limit. This heavy workload could cause a mechanical breakdown. Insurance for mechanical breakdowns/equipment breakdown can be purchased as a separate policy or as an endorsement to your commercial insurance policy, Equipment Breakdown: A standard policy will cover the following types of equipment. Electrical systems-Including electric…
Read MoreThe Masks Have It
Discover a lighter view for families planning Halloween costumes during COVID-19 times. Read how masks easily fit into your family’s Halloween costume ideas. COVID-19 and Halloween can and will co-exist. “The Masks Have It” reflects upon Halloween 2020 with new eyes and imagination. The Masks Have It Trick or treat Goblins replete Masks on scene…
Read MoreActual Cash Value (ACV) vs. Replacement Cost Insurance
Small and medium size business (SMB) owners have a multitude of responsibilities and concerns with running their own business. I understand your concerns because I own a business too. And if you own the commercial property your business is in you have (at least) two businesses to worry about. One of the most important decisions…
Read MoreNew Concerns for Owners of Apartment Buildings
COVID-19 continues to surge across northeast Ohio! The unemployment rate is near 9% in Ohio, a new stimulus package seems unlikely in the next month and the Centers for Disease Controls has put a moratorium order on all evictions through the end of the year (under certain circumstances). What are landlords to do to ensure…
Read MoreWould You Invest $100 to Save a Life?
As the owner of rental properties, if you could reduce your economic loss by reducing the size of a cooking fire for approximately $50.00 per unit would you do it? You can do this with a simple item called StoveTop FireStop. According to the National fire Prevention Association (NFPA) a kitchen fire starts every 8…
Read MoreThe Lost Year of 2020 and Church Liability Insurance Premiums
Discover why church cutbacks related to COVID-19 may result in partial insurance premium returns. Read about reductions in church operations that may lower insurance liability premiums. In many ways COVID-19 has collectively rendered 2020 as the lost year. Nobody has escaped some element of personal tragedy, economic loss, or disruptive lifestyle adjustments, due to COVID-19.…
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