A Texas Insurance Update For 2017
2017 is here and insurance companies are changing how they manage your policies. This means that pricing and services for business insurance and personal insurance is changing, mostly for the better. We have compiled a list of trends that you may find interesting. These trends will also influence how claims are handled, what kind of coverage is offered, and how the insurer services your account.
Trends That Will Impact Business and Personal Insurance
A Texas Business Insurance Update
Most businesses purchase general liability insurance to protect the business against certain kinds of claims. These claims could include bodily injury and property damage. Professional Liability insurance, also called Errors and Omissions insurance, protects against a claim from a third party who suffers a financial loss because of services or actions. Any individual or business in a profession that provides advice, expertise, recommendations, or a professional service to customers, clients, or another party, would benefit from Professional Liability insurance.
Typically, professionals such as doctors, accountants, nurses, insurance agents, lawyers, and architects purchase Professional Liability insurance. However, if you have clients who are in the business of providing advice, opinions, or services, they should consider Professional Liability insurance. Professionals who provide advice are expected to have knowledge or training in their particular area of expertise. They are also expected to perform the services for which they were hired according to the standards of conduct in their profession. Businesses and individuals can be held legally responsible for any financial loss caused.
It’s important to note that almost all Professional Liability insurance policies are sold on a “claims-made” basis. This means that the insurance only covers work performed while the policy is in force, and for claims actually filed during the term of the policy. Professional Liability insurance is offered in many different forms that protect many kinds of firms.
If someone feels he or she has suffered loss or damages due to a professional service, often their next action is a lawsuit. These kinds of actions can be costly and severely reduce a firm’s resources. Professional Liability insurance can help preserve assets and more importantly help preserve the firm’s reputation.
As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your business insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.
The Most Common Holiday Theft Losses
We are in the middle of the holiday season. While you are out shopping for that perfect gift, criminals are also out looking for ways to enhance their holiday take. While your personal insurance will most likely cover losses from theft, we thought it might be good to identify the most common holiday theft losses.
Now might be a good time to have us review your personal insurance. Stop in and have some coffee while we review your homeowner’s insurance coverage.
Theft From Vehicles
While you are in the store, criminals are in the parking lot looking for easy ways to get into your vehicle. Keep all packages in the trunk; always lock your car, park close to the store, and in a well-lit area.
Home burglaries increase in December, due to people traveling and an increased number of easy targets. When you leave your home, keep lights on, close your drapes, and never leave packages on your front porch. Thieves will follow delivery trucks waiting for an opportunity to strike. Most online retailers send emails and text messages so purchasers know almost immediately when a package has been delivered.
When you are shopping, never leave your purse in the shopping cart, keep your purse closed, only take the credit cards you need, and leave other cards and documents at home. Don’t carry a lot of cash and wait until asked to produce your credit card so a nearby thief can’t get your account information.
Online shopping has become as big as direct shopping. Make sure to use secure websites and log off when completing any purchases.
Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984 (formerly Gordon Lund Insurance). Don't worry, nothing has changed, but our name. In addition to having a presence in the Dallas and North Texas area, we have also expanded to Austin and Central Texas with agent representation and the same professional service.