What Kind of Insurance Do 1099 Contractors Need?

Most 1099 contractors carry insurance to protect their businesses. They find many times that the jobs they wish to bid on require a specific type and amount of insurance before the contractor is allowed to submit the bid. The kind of insurance the 1099 contractor needs depends on the type of work the contractor performs and the requirements of the entity doing the hiring.

General/Professional Liability Coverage

Liability insurance provides coverage in the event something goes wrong. Examples of issues covered by liability coverage include injuries on the job site and equipment breakage. It protects both the 1099 contractor and the hiring entity in many cases. For example, if the 1099 contractor causes a personal injury to someone at the job site, the liability insurance will step in and pay the medical bills.

Commercial Auto Coverage

Commercial auto coverage protects not only the 1099 contractor but also the hiring entity in the event an accident occurs while the contractor is driving as part of the job he was hired to do. For example, if a 1099 contract landscaper causes an injury accident on his way to pick up plants for a client's project, his commercial auto coverage will take care of the accident costs, rather than have the client held liable.

Disability Insurance

Disability insurance is not required by an entity in order to perform a job. But is a prudent insurance type for 1099 contractors to purchase. It is insurance that will pay a pre-stated weekly benefit to the contractor in the event the contractor is unable to work due to a disability. It is not only the contractor engaged in potentially dangerous work who needs disability insurance. A freelance writer, for example can become disabled by falling in a parking lot, getting hit by a car or requiring back surgery. Disability insurance typically requires a waiting period following the event that causes the disability before the policy begins to pay. The premiums fluctuate depending on the chosen waiting period length, the percentage of salary that will be paid each week and the general riskiness of the contractor's chosen occupation.

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You're Missing Out On Savings

The Independent Agency Advantage….

Buying insurance online in 15 minutes… does it seem too good to be true? Studies show that in most cases, it probably is. In fact, the average consumer spends four hours researching and buying insurance online.

A recent study also shows that 80% of those who shopped online for insurance ended up going offline to purchase. And, over 60% of those going offline to purchase ended up buying through an agent in-person. An additional 31% purchased through a local agent over the phone. (comScore, Inc., 2011)

OK, declare your independence from advertising hype. Have you ever really found real value in 15 minutes of “shopping” for any product (especially one where you are not an expert)? And do you really want to pay for all that advertising in your insurance premiums?

Declare your independence and call us now for a free no obligation quote.

EMERGE INSURANCE AGENCY

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WHAT YOU NEED TO KNOW ABOUT BUSINESS INSURANCE

If you operate a business, you need business insurance. But do you know why you need it and what it protects? Learn more below and get a business insurance quote to see how affordable the right protection can be.

Why is business insurance essential?

It takes years to build a profitable business. However, it takes just one lawsuit to put you out of business if you’re not adequately insured:

• Your building and its contents could be damaged or destroyed.
• Your equipment can break breaks down.
• You could lose income due to business interruption.
• An employee could be severely injured in an on-the-job accident.
• A key employee may be accused of sexual harassment.
• A toddler could be injured by a product you manufactured.
• A customer can slip and fall on your premises.
• Your advice could result in a client’s financial loss.
• A desirable job may require you to have a surety bond.

 

As you can see, business insurance can protect a company from a vast array of exposures. Every industry and every business is different, and each requires its own type of protection. So a quality risk management approach includes more than just insurance. It also requires professional experience and advice to help you make informed decisions and manage your total cost of risk. It takes years to build a profitable business. However, it takes just one lawsuit to put you out of business if you’re not adequately insured. Whether it’s a property claim or a liability issue, business insurance can save your bottom line.

Whether it’s a property claim or a liability issue, business insurance can save your bottom line.

The median cost of litigating a patent infringement lawsuit through trial can range from $300,000 to $3 million, according to the 1997 Economic Survey by the American Property Law Association (IPLA).

A smart solution

If you need to update your business insurance, or if you just want to learn more, Emerge Insurance Agency can help. Our experienced business insurance experts will help you obtain comprehensive, cost-effective insurance coverage — tailored for your business’s unique needs. We represent a variety of “A” rated carriers so you can rest assured that your livelihood is protected with stable, reliable coverage. We offer a vast array of coverages including property, liability, workers’ compensation, business interruption, employee benefits, professional liability, errors and omissions, surety bonds and more, With Emerge Insurance Agency you can get all the protection you need in one convenient place.

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Is Your Home Underinsured?

While most mortgage lenders require homeowner's insurance in order to issue a loan, many only get the bare-minimum to qualify. Nationwide, more than two-thirds of homeowners are underinsured, according to a survey by insurance services firm MSB, by an average of 18%.

That means someone whose house cost $200,000 to replace would find they are short by $36,000.

Though standard policies are beneficial they may not have all the protection you need. Here are some insurance types to consider adding to your coverage.

Flood

Homeowner's insurance my cover indoor water damage from something contained to your home, like a burst pipe, but a flood that affects multiple homes or neighborhoods is not included in standard coverage.

Don't fall prey to thinking that your area isn't susceptible to flooding. According to the Federal Emergency Management Agency, 25 percent of all flood insurance claims are in areas that are not high-risk flood zones. Remember what happen in Pensacola Florida last year and in Houston this year? Most of the flooded home weren’t in high-risk areas for floods.

Flood insurance typically has a 30 day waiting period, so the sooner you add it the quicker you can get coverage.

Replacement

Adding replacement cost insurance enables homeowners to replace damaged or stolen items at current prices, without a deduction for depreciation. In order to get the most in case something happens, keep an inventory of your positions, such as in a list or through photos. 

Sewer

Another water-related item that typically isn't included in standard coverage is sewer backups. Over flowing toilets can cause all the problems that come with water damage only with the added burden of sewage cleanup and possible pipe replacement. Avoid the headache by adding it either in your policy or through a rider.

Umbrella liability

In today's lawsuit-obsessed society, going without liability insurance is especially unwise. They cover any damages that those insured may cause. Their price varies based on how much you take out for coverage, which is also dependent on personal assets. 

If you're looking for new homeowner insurance in Florida with the coverage you need, reach out to an Emerge Insurance Agency expert insurance agents today.

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Should You Get A Personal Umbrella Insurance Policy?

If you have a personal umbrella insurance policy, congratulations. If you don't, you must not have a lot to lose. This important insurance can extend your liability coverage beyond your home and auto insurance by millions of dollars.

We live in a litigious society. Anyone can sue you for any reason. Those with money are targets simply because suing someone without assets is pointless.

If you are ever involved in a law suit, it is imperative that you have insurance to cover your legal liability.  Umbrella policies supplement the liability coverage you already have through your home and auto insurance, and provide an extra layer of protection. Umbrella policies aren’t just for the wealthy – they’re for anyone who has assets that might be at risk if they cause a serious accident.   If you don’t have enough liability coverage to resolve a claim or a lawsuit, the person bringing the action might go after your home or your other assets to pay for damage. Umbrella policies cover the excess liability of damage claims that you, your dependents, or even your pets may cause.

OK, let’s review some scenarios and recommendation for an umbrella policy: 

1) You drive a fast car and have a net worth of $1 million dollars. You enjoy hitting the bars and clubs every weekend in your $75,000 BMW M3. Your hobbies include snowboarding, rock climbing, sky diving, and poker. Given you go out on the weekends, you also tend to have at least one drink before getting behind a wheel. At the age of 36, you just don’t want to settle down and have amassed a nice nut.

Assessment: You are higher risk than average. Get an umbrella policy with liability coverage of at least $1 million if not $2 million given you’re in the growth phase of your career. Also get comprehensive auto insurance that covers the damage of your car and liability of around $500,000 per accident.

2) You drive a $12,000 SUV, have a 12 year old son, are a homeowner, and worth $3 million dollars. You never go out to party on the weekends anymore. Your idea of a good time is snuggling up with your husband to watch Revenge on DVD. In six years, your son plans to go off to college at a cost of $50,000 a year for 4 years. You also have a homeowner’s insurance policy with $500,000 in liability coverage and a $5,000 deductible.

Assessment: You are an average risk person. Get an umbrella policy with liability coverage between $2 million to $3 million. Weight the value of peace of mind vs. the increase in monthly premiums for higher coverage. Make a decision what the likelihood is that you will be sued for your entire net worth. $3 million is a nice figure that lots of people would love to lay their hands on. Your SUV is probably not worth getting comprehensive auto insurance, so just got with liability. If it gets destroyed, it sounds like you can easily buy a new one.

3) You drive a $8,000 Honda Accord, are the only working spouse, have three children, are a homeowner, and worth $800,000. You spend all your time at the office and then at home with the kids. Seldom do you ever go out. You’ve sworn off alcohol ever since you drove your car straight into a tree six years ago. You are working like a mad man to provide for your family and wonder whether tuition costs will continue to spiral out of control. Every time you think of the fact that three people are depending on you, you start to get a panic attack.

Assessment: You are an average risk person who definitely needs an umbrella policy. You do everything a normal person would do as determined by the insurance actuaries, but you’ve got three dependents. If something happens to you, or you cause an accident, a lot of people will be negatively impacted. Not only get a $1 million umbrella policy get another $1-2 million in term life insurance policy that will go towards your kids if you die. A comprehensive auto policy is probably a waste of money, but it depends on your liquid assets and how safe of a driver you are now.

4) You have two teenagers and a net worth of $600,000. Try as you may, you feel you can no longer control your children. They aren’t very good students, aren’t going to win any athletic scholarships, hang out with the wrong crowd, and have a lot of angst. Because you don’t want to be the uncool mom, you allow your teenagers to drive.

Assessment: Your teenagers put you at huge risk because you are responsible for all their actions before the age of 18. Every day you pray they come home safe. Absolutely get a $1 million umbrella policy! Your teenagers could bankrupt you in a heartbeat!

5) You are a landlord and/or business owner with a $350,000 net worth. When you have customers, you invariably open yourself up to more risk. I feel sorry for doctors who are trying to save lives but constantly operate under the assumption they will get sued by their patients. As a landlord, no matter how hard you screen your tenants or assess the safety of your unit, something bad may happen. Same thing goes from running any business.

Assessment: You absolutely should get an umbrella policy worth $1 million or greater for potential garnished wages. Landlords should have landlord insurance and business owners have various business insurance options. The world is a very litigious place. Live the American dream but protect yourself.

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Insurers May Cover Your 15-20 Year Old Roof

Florida home insurance companies are becoming more restrictive when it comes to roof coverage. Key examples:

• Refusing to renew existing homeowner insurance policies on houses with roofs older than 20 years without passing an inspection; failed inspections often require roof replacement prior to renewal.
• Not writing new policies for homes with roofs over 20 years old.
• Paying actual cash value for roof replacement for older roofs.

While it may be expensive as to replace a roof, a homeowner may have no choice if doing nothing would cost them their home insurance policy.

Florida insurance companies are tightening underwriting requirements for older homes in general. Companies are becoming more concern with offering coverage to homes where there has not been a replacement of roofs, plumbing or electrical. Roofs are the biggest issue especially in areas of the state where the demand for insurance exceeds the insurance company's appetite for risk (i.e., our coastal areas). In those areas of Florida the underwriting criteria come into play to a higher degree.   

If you have questions on coverage for older homes, homes without updates within the last 20 years, and how those factors impact the availability and cost of insurance, contact us with those questions.

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Dog Bite Liability

Make no “bones” about it: Pets and homeowners insurance policies at times don’t play very well together. That’s because animals are often very unpredictable and sometimes even downright dangerous in a domestic setting—especially canine companions. That’s why, if you own or plan to get a dog, it’s important to know the risks and repercussions of a pet-provoked home insurance claim and how you can minimize your liability and premium costs.

Consider that dog bites and other canine-related injuries were responsible for over one-third of all homeowners insurance liability claim dollars paid out in 2014, totaling more than $530 million, per current data from the Insurance Information Institute. Although the number of dog bite claims nationwide fell 4.7 percent in 2014, the average cost per claim for the year increased 15 percent. Among other findings from the data: 

• The average cost paid out for dog bite claims nationwide was $32,072 in 2014 vs. $27,862 in 2013. 
• The average cost per claim nationally has spiked more than 67 percent between 2003 and 2014 because of increased medical costs and the size of settlements, judgments and jury awards given to plaintiffs. 

Does Homeowners Insurance Cover Your Dog?

The simple answer is probably NO!!  Because of the huge liability claims and court costs associated with dog bites, most insurance companies have excluded animal liability. If the dog is not on the company’s “eligible breeds” list, an Animal Liability endorsement may be available. However, the limitation on this endorsement is usually only $25,000. But there are other options that we work with our clients to protect them.

Emerge Insurance Agency helps dog owners work through the best options for protecting themselves from the high costs of defending themselves in court and any liability for damages the courts might assess. Call us to discuss options that are available for you.

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Dog Liability Insurance

Dog Liability Insurance - The Basics

By Juliana Weiss-Roessler

You would probably never think of your beloved dog as a liability, but unfortunately, that’s exactly how some homeowners associations and apartment complexes view dogs.

If you’re buying a home, you may discover that your homeowners insurance doesn’t cover dog bites, and if you’re looking for an apartment, townhouse, or condo to rent, you may find the landlord turning you away if you can’t show that you have insurance coverage for your dog.

Why would I need dog liability insurance?
There are several reasons why you, as a pack leader, might need to take out a canine liability insurance policy.

One of the most common reasons is because most major insurance companies have a list of so-called “dangerous” dogs that they won’t cover in their homeowners insurance, even if the dog has no bite history. These “dangerous dog” lists commonly include breeds like pit bulls, Staffordshire terriers, Doberman pinschers, Rottweilers, Great Danes, German shepherds, Alaskan huskies, and wolf hybrids.

You might know that your dog is a gentle giant with no history of aggression, but if they belong to a breed that’s been deemed dangerous, you won’t be able to get coverage from your homeowners or renters insurance.

You may also need dog liability insurance if your dog has bitten someone before. All dogs have the potential to bite if they feel threatened or scared. Your pup may have nipped at a neighbor if the neighbor started roughhousing with them in a way they didn’t like, or she may have bitten one of your friends who got too close when she had a litter of puppies.
Even if your dog has never bitten anyone, if they have gotten rambunctious and knocked someone over, they may be branded as having a history of aggression.

Unfortunately, most homeowners or renters insurance companies will not take specific circumstances into account and will refuse coverage to any owner whose dog has a bite or aggression history, no matter what the breed.

How do I get dog liability insurance?

Insurance broker/agency like us currently offer canine liability insurance, so if you’re being required to carry this type of insurance by your county, apartment complex, or homeowners association, you should look for a company like our that is licensed to sell insurance in your state.

Take the time to do your research and read over policies carefully to make sure there aren’t any problematic exclusions. Some companies will only offer coverage

Premiums vary from company to company, with some companines offering policies that start as low as $50 a year and others that go up to $1,000 (depending on the policy limits, deductible, the dog breed, and any bite history). Some companies offer specific policies for individual dogs, so you may be able to negotiate a lower price if you can show your dog has no history of biting or aggression. Providing proof of obedience training or other specialized training may also help lower your rates.

Although you might hate the idea that your dog needs liability insurance just because other people think he or she is potentially dangerous, it’s better to pay for the coverage than to face paying for injuries out-of-pocket or becoming separated from your canine friend due to housing restrictions.

Let us help you find the right policy, and rest easy knowing that you and your dog can stay together.
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Dog Liability Coverage

Dog Liability Insurance

Contact Us Now For A Free Dog Liability Insurance Quote

You don't have to move! You don't have to give up your beloved family member!

Emerge Insurance Agency is proud to offer dog liability insurance to responsible owners of “dangerous” breeds (as labeled by most insurance companies). We do NOT agree with the way most insurance companies stereotype strictly by a dog’s breed. We look at each dog individually and do not judge based on breed.

Many people call us because they are having difficulties finding a place to rent with their dogs.

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