Insurance for Contractors in Clifton New Jersey

Contractors have the often-arduous task of completing a project on time and on budget. To meet this goal requires a certain amount of coordination and planning to maximize the amount and effectiveness of available funds. Insurance for contractors in Clifton New Jersey, such as builders risk, is purchased to help meet the needs of owners and contractors alike.

The owner and the contractor may both carry insurance

Because insurance coverage benefits both parties, an owner or the contractor may hold a policy for this purpose. In many cases where an owner holds the policy, it helps to have open communication and collaboration when claim preparation is performed. Most construction contracts place the responsibility on the contractor as they make most decisions pertaining to delivery and completion of the project.

It’s important to understand coverage application for the contractor and any subcontractors, including any rights as additionally named insureds. Considering that most policies include a duty to mitigate loss, which typically can include some immediate decisions and costs, the collaboration between owner and contractor and an understanding of recovery sources is often underscored. Ownership of the deductible can serve as an added incentive to mitigate further loss, often including a definition of a contractor’s responsibilities.

Delays and cost overruns can and will occur from time to time and this further demonstrates the need for insurance. In addition, contract clauses may also stipulate costs that are recognized under the contract where insurance does not apply. It’s important to read contracts carefully to avoid any confusion later on down the road.

Contractors and owners alike should be prepared to expect delays when unexpected weather conditions arise with an understanding of where these costs may be recoverable. Additionally, recovery sources generally cover the costs to repair damage to a project and return it to its previous condition.

Perhaps the most important reason to purchase insurance for contractors in Clifton New Jersey is that there are a number of financial pressures and liabilities in the construction industry. Obtaining insurance is the best way to ensure that, should the project run into a costly snag, there is compensation for the owners that doesn’t require added expense from the contractor.

Freight Requirements Include Obtaining the Customs Bond

As any freight forwarder fully knows, all cargo entering the US must go through a specific process. The freight requires that a customs bond, much like an insurance policy, be used to cover all commercial entries. The importer agrees to pay duties in a timely manner and the cargo is then released. For international carriers that transport cargo via air, vessel or vehicle from a foreign destination to the US (or a domestic carrier that merely wants to transport imported cargo “IN BOND” from one state to another), they will have to obtain a customs bond.

They must also produce documents and any other evidence when requested. In order to receive a custom clearance bond they understand that a customs agent may wish to examine the merchandise with the understanding that the freight is to be used in the manner dictated by a special-use provision entry.

They may also be required to rectify any noncompliance with the provisions of admission as well as to comply with customs regulations, which may include electronic entry requirements and advance cargo information filing requirements. In the case of default of the bond, they must also take responsibility for the consequences of any damages charged against the bond.

Agencies must pay certain import duties and taxes

The payment of import duties and taxes are the primary purpose of a customs bond, along with the assurance of compliance with all laws and regulations governing the entry of merchandise from foreign shipping points into the US. For merchandise that may fall under restrictions, which may include items requiring a declaration to the FCC, FDA or other government agency, the bond is required to cover an amount above and beyond the commercial invoice value (generally 3x the value of the freight).

For any items deemed to be non-restricted merchandise, the bond is used to cover the commercial invoice value plus the duties and taxes applicable to the shipment. Once the documents are sent by courier to customs and reviewed by an inspector, they are then subsequently released and returned to the broker’s office by courier.

If you are a warehouse or facility operator and want to become a Customs bonded facility with the ability to store or secure imported or exported goods, you must obtain a customs bond. While the customs bond process isn’t very complicated, it’s recommended that you speak to an insurance agent knowledgeable about how this system works.

Hospitality Insurance and Risk Management

Safety of guests and visitors has always been a primary concern for those in the hospitality industry. Whether you own and operate a hotel, casino, or even a golf course you always want to ensure that those depending on you for a safe and rewarding experience receives exactly what they’ve come there to expect.

Owners should always carry hospitality insurance that responds to claims that commonly occur at properties of this type, but they also need to consider all existing areas of risk and any exposures that might threaten the safety of their guests and have in place the correct measures to ensure that neither harm nor losses are the result of negligence on their part.

Risk management tips designed to improve hotel security

Hotels are often targeted because tourists carry large amounts of cash and generally have several credit cards and even valuable jewelry with them when they travel. In order to help prevent robberies, burglaries and other forms of invasion owners should first make sure that they do background checks of all potential employees, have ongoing training of all staff members, including emergency and evacuation training, control all access points in and out of all buildings (all outside doors should contain security locks, all windows be fitted with safety locks, and there should adequate lighting everywhere).

As an added measure, all security cameras should be monitored and working at all times.

It is best to install cameras on all floors, near entrances, on elevators, and any seldom used areas, including loading docks. Criminals have been known to target conference rooms and lobby areas hoping to steal laptops and other valuables left unattended, often pretending to be guests.

Thefts and robberies often take place in parking lots

Having properly lit parking lots and grounds will further prevent criminal acts from occurring. This should include security patrols, with guests leaving the hotel late at night accompanied by a security officer.

All guests are potential victims of crime while on vacation. Instruct them to always listen at the door before entering their rooms, that they should keep their door locked at all times, and know where all emergency exits are. If someone comes to their door identifying themselves as hotel staff, always look through the peephole and check with front desk before opening the door. Finally, never throw the key card in the trash because it contains personal information from registration that could be accessed.

Following these suggestions should help advance safety in hotel management, and resorts and other pleasure stops should carry hospitality insurance and practice good hotel risk management.

Which Type of Life Insurance Is Right for You?

Va. life insurance is a valuable investment that protects your family and your wealth in the event of your death. While a wide variety of life insurance plans exist, there are three that are most often purchased.

Term Life Insurance

Term life insurance is a temporary policy purchased for a specific period of time. The monthly premium is lower, but only for the time period selected. At the end of the policy, you may be able to renew but at a higher premium. The lump-sum payment your beneficiaries receive can be used for expenses at death.

Whole Life Insurance

Whole life insurance is a permanent policy. Premiums are generally higher than term premiums, but remain at a fixed rate. This type of Va. life insurance has cash value and is useful for managing money that you wish to transfer to your beneficiaries.

Universal Life Insurance

Universal life insurance is another permanent policy. In contrast to whole life, the premiums are flexible. This allows you to adjust your coverage and premiums as your needs change throughout your life. Just like whole life, it has cash value and will help you manage your estate.

Cost and coverage for Va. life insurance policies vary, so be sure that you pick the one that best suits your needs.

Essential Components of Auto Insurance in Virginia

As you search for the best auto insurance in Virginia, remember that there are several important areas that should be covered in order to protect you and your family. Seek a company that offers comprehensive insurance to cover the following issues:

  • Uninsured Drivers
  • Roadside Assistance
  • Auto Theft
  • Windshield Repair

Why Comprehensive Insurance Matters

Even though you are a cautious driver, you aren’t able to control all the variables around you. If you are in an accident with an uninsured driver, your insurance company should be able to help you obtain the necessary funds to repair your vehicle. Comprehensive plans also protect you from unforeseen circumstances, such as a rock hitting your windshield or a blown tire on the freeway. You cant predict these events, but you want to have a plan in place to protect yourself if they do occur.

How to Find the Right Insurance Company

Do your research. Look up the company’s reviews, and ask questions. Reliable companies will be part of the Better Business Bureau and will have a positive track record with current customers. The safest choice for auto insurance in Virginia will be a company that protects you not only in the event of a collision but also through other unexpected circumstances related to your vehicle.

3 Subtle Benefits You Must Get From Your Insurance Agency

Are you simply looking for personal insurance or need to find excellent coverage for your large corporation or young small business? There are some things that are worth looking for in your insurance agency in New Mexico so that you’re better covered in the future.

Cooperation and Prevention

First, make sure that any insurance agency you are considering wants to work with you to identify where you are most at risk so you both can determine how to best customize your liability coverage and prevent incidents from happening. Of course, you want an agency to be ready and willing to file liability claims, but its still best to avoid accidents or financial mishaps for your company’s morale and image.

Partnerships and Resources

Second, ask or figure out what connections an insurer has. For example, if you’re a large corporation with very high liability coverage needs, you’ll need to find an insurance agency in New Mexico that is both cooperative, experienced and has great ties with some of the best insurers in the world so that you can get the best possible liability coverage.

Industry Expertise

Finally, look for an agency that has a lot of experience in your particular industry. An agency that generalizes wont be able to properly assess and understand your business, which comes with the great risk that you wont have the precise coverage that you need to safely push forward.

What to Look for in a Workmans Comp Insurance Wholesaler

There is much turmoil in the workmans comp insurance industry. Between a fear of insurance fraud and the states enacting tough legislation, many small business owners are left without crucial coverage. They turn to you, their insurance agent, and you’re going to have to turn to a wholesaler that can meet your clients special needs. Here’s how to find a perfect match.

Your Wholesaler Should

Of course any wholesaler with which you work should be licensed and have an expertise within the insurance industry, but there are other items you to place on your checklist as well. They include:

  • A strong foothold in the workmans comp insurance marketplace
  • The ability to provide quick quotes from multiple states
  • Carriers that are A-rated and offer flexibility in their payment terms.
  • Carriers that offer large deductibles for those who need them
  • Carriers that provide needs for those seeking to be self-insured
  • Underwriting that is done in-house
  • A risk management program that is above average

Getting the Full Package

As the agent seeking workmans comp insurance coverage for your clients, you must perform your due diligence and research any wholesaler with which you plan to work. Alongside the above, the wholesaler should also offer safety programs and OSHA education. This presents your clients with the full package to protect their business and employees.

Understanding What It Means to Be a Small Group of Employees

The Affordable Care Act has made purchasing CT insurance for small businesses a little more challenging. Many companies are turning to professionals to help them better understand the different restrictions and laws that govern this act so they can properly insure and provide health insurance for their employees. One important thing to understand when you are purchasing insurance is what it means to be a small group of employees.

50 Full Time Employees

Under the ACA, larger businesses are required to provide affordable healthcare if they have 50 or more employees. Full time employees work 30 or more hours per week. A company who has a small group of employees has less than 50 full time employees. They can provide coverage for these employees and receive tax credits, but law does not mandate it.

Group Plans

Many small businesses choose to purchase CT insurance or group plans. There are certain requirements for these plans. Certain essential health benefits must be covered on all plans regardless of where you purchase it. Additionally, the premium amount cannot change due to a person’s medical history.

If you are interested in purchasing a group plan and have a small group of employees, then contact an insurance agent for help. This way you can choose the right coverage.

No Longer in the Yellow

The local yellow pages is no longer the spot to get your insurance agency noticed. To maintain a successful insurance business, you need to pursue insurance digital marketing and get an online presence. Here are some steps you can take to market your agency on the World Wide Web.


Having a great looking website where consumers can find out about your products and services is a necessity. Consumers check out a website of a company before they even make an inquiry. Equipping your website with an online communication option is great for busy web savvy customers.

Social Media Presence

To gain social media presence you need to establish accounts on major social media sites such as Facebook and Twitter. Once you are on social media, you need to write engaging content for your social media audience. Once followers of your pages and feeds respond to your content, then you respond back. This creates an atmosphere of interactivity and shows your responsiveness.

Online Advertising

With targeted online advertising, you get more for your money. Ads are targeted towards the people that are searching for your services or meet certain optimal demographic characteristics.

If all of these steps are too much for your busy schedule, you could always hire an agency for your insurance digital marketing needs. They specialize in getting clients noticed on the internet.


Advantages of a Business Owners Policy in Carmel

For anyone that owns or operates a business, having to buy insurance coverage is a no-brainer. But while every business should be fully insured, as a first-time owner you may find it somewhat difficult to navigate through the maze of different plan options and providers. While it certainly may help to speak with fellow entrepreneurs as a way of familiarizing yourself with the types of insurance you’re going to need, commercial insurance agents are best equipped to help since they are quite familiar with a wide range of business needs and can provide valuable insight into what’s best for your company.

Look into a business owner’s policy in Carmel

If you’re looking for affordable coverage that will provide you with a broad range of needs for your particular enterprise, then it’s probably best to start with a business owner’s policy (BOP). This type of policy combines both property and general liability insurance and typically covers events that cause an interruption or suspended operations, and most issues resulting in property damage or any claims or lawsuits you may become embroiled in.

Depending on the type of business you own and the number of employees you have, you may need additional specific types of insurance, but a BOP will at least provide you with basic protection from common business losses. You may consider the price you’ll have to pay for coverage to be a contributing factor when you’re trying to get a business off the ground. Keeping allow budget’s often a priority, but in the case of business insurance, cost really shouldn’t be the only consideration.

Shopping around for a provider that’s in your price range is a great place to start, but seek one that also offers comprehensive coverage and vital business support services as well. By all means you should select the best carrier for your business insurance needs. But remember that you should be open-minded since there may be more than one available in your area. Shop around and make sure the agency you partner with for your business owner’s policy in Carmel is providing you with a good quote proposal and has experience in your industry.