If you have anything less than this we would encourage you to reconsider. The savings associated with reducing coverage below these limits very seldom makes sense.
Insurance Blog
Author: admin
Lawn Care & Landscaping
For lawn care and landscaping businesses in Kentucky, the winter months represent a time to play catch-up. During this period when it’s tough to find ways to make a buck, why not take the time to make sure you’re not leaving money on the table by getting a comparison quote on your business insurance. Even more important, take the time to do a complete and thorough review of your insurance coverage. While this may not have an immediate impact on your bottom line, it may someday have a very significant impact on the profitability of your operations. With that in mind we decided to take some time to share with you some of our thoughts regarding insurance and risk management for lawn care businesses.
Liability Coverage Can be purchased in various amounts. You are most likely to have a policy which provides liability limits of $1,000,000 per occurrence and $2,000,000 aggregate.
Property Coverage
Buildings Even if you don’t own a building you may still have exposure. Your policy should provide coverage for property that you rent from others.
Equipment Make sure that the limits for your property: mowers, trailers, etc. are in line with the current market, too low and you will pay the difference out of pocket, too high and you are already coming out of your pocket.
Scheduled Equipment Each insurance company has their own rules, but it’s worth checking to make sure that every item you want covered that has a value greater than $2,000 is scheduled and listed on your policy. This is opposed to having those items covered in the unscheduled portion. First off the rates for scheduled are lower than unscheduled. More importantly carriers have a limit which they use to cap unscheduled items, typically around $2,000.
EXAMPLE: Last year ABC Mowing purchased a used 72” Scag Turf Tiger for $12,000 The mower is being covered but is not specifically listed in their policy. The equipment was stolen and they are now dependent on the proceeds from their insurance claim to replace the lost mower. As unscheduled equipment, ABC Mowing will be limited to the $2,000 limit for unscheduled equipment, and before they get that they will be faced with whatever deductible is in place. In their case it was $1,000, leaving the company with only $1,000 to replace a $12,000 piece of equipment.
It would be one thing to find you had this coverage in place and although you are not happy about it, you were getting what you paid for. However in the scenario above ABC Mowing was actually underinsured and overpaid.
Commercial Auto Do you need a commercial auto policy or is your personal policy enough? Good luck at getting an answer on that one. Generally speaking, personal auto policies don’t cover autos while performing functions that relate to business. However commercial auto policies will cover autos while being driven for personal use.
Better Coverage Commercial auto policies generally have much higher limits than a personal policy. Given the litigious society that we live in, you must ask yourself, is my auto insurance putting my livelihood at risk?
The cost will most likely be less than you think We write a lot of first time commercial auto policies, replacing personal policies that just aren’t adequate. Almost always the customer has significantly better coverage and the prices only slightly higher or even less than where they started.
Caution: You may ask, “If I am in an accident how will anyone know I should have a commercial policy?” Do you have your business name, phone number, etc. on your vehicle? I’m not sure, but I am guessing that the attorney representing the other driver will notice that trailer with two mowers, five weed eaters, or whatever other tools you might be hauling. Maybe not! What I do know is, that unless you have actually considered a commercial quote you cannot make the decision.
TruePoint Insurance Group, LLC
6287 Taylorsville Rd.
Fisherville, KY 40023
(888) 706-5423
TruePoint Insurance Group, LLC is not licensed to practice law, nor can it provide legal counsel. This summary is not intended as a legal opinion. We cannot warrant that the opinions and representations provided in this summary are accurate. TruePoint Insurance Group, LLC has provided this summary of the Virginia Graeme Baker Act for your awareness. The summary may or may not identify your requirements as a pool or spa owner. If you own a pool or spa you are advised by TruePoint Insurance Group, LLC to refer your specific situation to legal counsel.
The FMCSA and Electronic Logging Devices
Already planning your New Year’s Eve Party for 2017? Consider converting your paper log books into confetti. In 2012, Congress passed legislation which forced the Federal Motor Carrier Safety Administration (FMCSA) to require all drivers to use Electronic Logging Devices (ELD). Beginning in December of 2017 drivers that have previously been required to maintain paper log books will be required to become compliant.
Below we have provided a quick summary and insights of some of the more important aspects of the changes:
If you’re a short haul driver you may be exempt: If you meet one of the short haul exemptions found in section 395.1(e) you can continue operating as before.
Location Monitoring (On Duty): Every 60 minutes and whenever a change of duty status occurs, ELD’s are required to capture the location within 1 mile.
Location Monitoring (Off Duty): ELD’s will continue to capture location data while off duty. However, in an effort to respect privacy, data will be captured within a 10 mile radius.
Electronic Data Transfer: Not only must logging devices capture data electronically; they must also have the ability to transfer data electronically via a wireless web service or by Bluetooth and or USB 2.0 transfer.
Editing your ELD: Drivers will be able to edit their electronic logs, however electronically captured data will remain and cannot be deleted. Employers will also be able to edit the log, but this may only be added to an electronic device after driver approval.
Older ELD like devices: Automatic On-Board Recording devices may continue to be used until December 2019.
Before You Buy: A list of approved manufacturers and certified devices is available. This list is provided by the FMCSA and should be consulted prior to purchasing your new ELD.
The information is not meant to be a complete review. Addition exemptions related to the age of your vehicle, the number of days worked in a month and others are available. For complete information on the ruling go to the FMCSA website at:
Online Insurance Quotes Have Arrived!
Relief; the single word accurately describes my feelings the first time I read the phrase “online insurance quotes” The promise of Insurance without the hassle of an agent: Sweet! Online insurance quotes have been around for some time now. But are these so called online quotes really what they’re advertised to be? NO!
Most sites that offer online insurance quotes are limited to personal lines, with the vast majority only capable of providing a quote for autos. Where’s the logic? Most insurance companies offer a substantial discount (up to 25%) if you insure both your home and auto with them. Online insurance quotes for autos only would be akin to a jeweler trying to sell a single ear ring, a shoe store that sold shoes for only your left foot, or a Chinese restaurant that provided dinners one chopstick.
If you’re looking for business insurance online you’re an underdog to find anything more than a glorified lead service. Does this sound familiar? You’ve taken the time to submit the requested information and…No Quote! Just give it sometime….it gets worse. It’s the phone and on the other end is …..Ugh….an insurance agent! Over the next two days, fourteen more agents all. What happened is simple; your information was gathered by a lead provider. They took your information and did the last thing you would want; they sold it. But not to just one insurance agent, multiple insurance agents and in the process made more money than they could if they sold you insurance. God Bless America!
But it doesn’t have to be that way……………………..Personal and Commercial Insurance
Online Quotes, in Real-Time, from a Real Agent
At TruePoint, we claim to be raising the bar regards customer service. While our efforts often go unnoticed, TruePoint’s commitment to customer service is often noticed when clients or prospects visit our Customer Portal. The Portal provides clients with 24/7 access to critical insurance and policy information. Our clients need not worry over not having an up-to-date insurance auto id card, it’s as close as your cell phone. Never dig through boxes looking for a copy of your policy, it’s much easier to find atwww.insuringky.com .
Unlike the online quoting described earlier, TruePoint’s online quotes are truly quotes. No waiting on someone to call back; our quotes are online, and in real time. Most importantly, we allow our online user to capture the multi-policy discounts by providing both home and auto quotes. Our online quotes are not limited to personal insurance. In many case commercial quotes can also be obtained in real-time on the company’s website.
Is it time for you to take control of your personal risk management process? Maybe you’re ready for insurance from the driver’s seat, or you might feel that you’d like a little more transparency. Whatever the case, TruePoint has developed a path for you.
Access quotes from up to twelve different insurance companies andBe the first to see your quotes, even before the agent. You decide when and if to bring an agent in. You will not be contacted until you request it.
Take a test drive today. You can try our online rater at www.insuringky.com .
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TruePoint Insurance Group announces online access to Home Quotes
Websites that allow consumers to quote their auto coverage online are a dime a dozen, but without the homeowners coverage consumers have been losing their Multi-Policy Discount. When considering the $300 to $700 that consumers are leaving on the table, it is actually surprising how well auto only coverage has done up to this point.
Finally, truly instant online quotes. Beginning January 8, 2016, TruePoint Insurance Group is making both auto and homeowners quotes available. With names such as Travelers, Auto-Owners, Grange, Safeco and more, consumers can have their cake and eat it too. Kristen Smith, TruePoint’s Director of Agency Development noted, “Not only will consumers benefit from the convenience of accessing quotes and policy information online, but they will also have access to experienced independent agents representing several of the top Home & Auto insurance companies.”
The process is simple, go to www.insuringky.com, from there just follow the instructions. It might be helpful to have a copy of your current policies declaration pages to make sure that you are comparing apples to apples. Once you are finished just submit. There will be a short wait as the premiums are calculated, but they will arrive soon, real-time, very fast and online.
You will receive a summary of your quotes but that is it unless you want to proceed. Again, no agent is going to call you, nor will there be an endless stream of emails. If you are interested in proceeding, just follow the online links and a TruePoint agent will get back to you.
GET A QUOTE NOW!!!
TruePoint Insurance Group, LLC
6287 Taylorsville Rd.
Fisherville, KY 40023
(888) 706-5423
Childcare
When it comes time to review, purchase and buy insurance, it is easy for business owners to get caught up in the numbers. That is what insurance is all about, isn’t it? True, insurance is largely about numbers, but there is a lot more. Insurance is about sleeping at night, it is about protecting others; family, friends, employees, even people we do not know. Insurance is about doing the right thing! Numbers are cold and hard and from time to time, the impact of insurance and risk management just cannot be boiled down to a number. It is hard, if not impossible, to come up with a better example than the childcare industry. When consideration is given to the extreme value of the assets that has been left in their care, it becomes clear that there is a distinct difference between insurance and risk management.
Insurance is the transfer of risk from the insured to the insurance carrier. Risk management entails much more; the aim being at not only transferring, but also eliminating or reducing risk. Childcare providers are subject to a wide range of risks or hazards. In the case of facilities, buildings and equipment often create a hazard that can be transferred to an insurance company. Additionally risk exist both inside and out. The condition of the building and play area, proximately of streets, parking lot layout and visibility, access to kitchens, cleaning supplies and medications. Each of these poses unique threats, directly and indirectly, to the children and employees. Policy and procedures relating to distribution of medications, child supervision requirements, and authorized student pickup, these and many other hazards must be considered. Of course, as far as the numbers go, a well-written policy should provide adequate production through the policies Commercial General Liability section.
Stop for a second, because this is where the numbers lie. Yes, your business should be financially protected. But will it help you sleep at night? Insurance companies spend a great deal of money developing and attempting to help businesses implement sound risk management through the development and sharing of loss prevention programs. Overtime this will help them to be more profitable as it will lead to fewer claims. But more importantly it is the right thing to do. Knowing that we did not take an action that could have eliminated a hazard that lead to the injury of another person is a bitter pill to swallow. But it is even worse when that person is a child. The bottom-line; insurance is important, however, taking the time to do the right thing may be critical.
The wide range of facilities and operations create a wrinkle that can make risk placement difficult. This is one reason to start with an agency that has a focused effort in this sector is a good start.
Below is a partial list of issues that complicate and limit access to coverage for provider of childcare services:
Before and after school programsHead Start programsPrograms offering field tripsIn-home centers
Night-time operations24 hour operationsLatchkey operations
TruePoint provides access to markets for all of the above, as well as many other factors that limit insurance options. Many of our coverage options provide loss prevention and information services, several of which are specifically designed for the child care providers.
The importance of a good Risk Management program has been noted, but little was said about how it is done or where to start. Obviously an agent with solid experience in the industry is a first thought. However, the ability to access a loss prevention services specializing in the Child Care Service is even better. We cannot put a value on our children. With that said, it is hard to imagine an industry where the impact of a risk management plan has as much promise of making a difference. Yes, insurance is about the numbers, but it goes behind that. If your agent does not offer you access to focus loss prevention program, or is unsure how to help you in developing your own risk management plan, then it may be time to learn more.
If you’re interested in learning more about loss prevention programs for child care providers or explore coverage options for your unique risk, feel free to contact TruePoint’s Commercial Insurance Division at (502) 410-5089.
TruePoint Insurance Group, LLC
6287 Taylorsville Rd.
Fisherville, KY 40023
(888) 706-5423
TruePoint Insurance Group, LLC is not licensed to practice law, nor can it provide legal counsel. This summary is not intended as a legal opinion. We cannot warrant that the opinions and representations provided in this summary are accurate. TruePoint Insurance Group, LLC has provided this summary of the Virginia Graeme Baker Act for your awareness. The summary may or may not identify your requirements as a pool or spa owner. If you own a pool or spa you are advised by TruePoint Insurance Group, LLC to refer your specific situation to legal counsel.
KY AUTO DEALERS INSURANCE REQUIREMENTS
Businesses operating as Motor Vehicle Dealers in Kentucky are governed by the Commonwealth’s Motor Vehicle Commission. All dealers are required to obtain a license from the commission and are must meet several requirements. One of which is that all auto dealers operating in Kentucky must maintain garage liability coverage.
As of December 31, 2015, the minimum liability coverage required for car dealers in Kentucky is an amount of $250,000 per person and $500,000 per occurrence and $250,000 for property damage.
Insurance products for Auto Dealers and Garages can be confusing, even to a licensed insurance agent. Make certain that you understand the various types of coverages. For additional information that may impact your unique circumstance, you can begin by learning more about two common and often misinterpreted coverages. Click on the following link to learn more about Garage Liability and Garage Keepers Coverage.
This brief summary of Kentucky’s required liability coverage is not intended to address all coverages that should be utilized by Kentucky’s Auto Dealerships. Laws governing the sale of motor vehicles in Kentucky can be found in the Kentucky Revised Statutes (KRS Chapter 190). Please review the most recent changes to KRS Chapter 190 for the most complete and update requirements for Motor Vehicle Dealers for a complete list of requirements including the most recent changes which may include changes impacting insurance requirements for both Franchise New Car Dealers as well as Used Auto Dealers. Additional coverages including, but not limited to Property (buildings as well as business personal property, workers compensation, and various other coverage types that might be necessary to provide your unique auto dealership with an appropriate and complete risk management plan. For a full analysis of your situation email a TruePoint Insurance Agent, or call (502) 410-5089.
TruePoint Insurance Group, LLC
6287 Taylorsville Rd.
Fisherville, KY 40023
TruePoint Insurance Group, LLC is not licensed to practice law, nor can it provide legal counsel. This summary is not intended as a legal opinion. We cannot warrant that the opinions and representations provided in this summary are accurate. TruePoint Insurance Group, LLC has provided this summary of the Virginia Graeme Baker Act for your awareness. The summary may or may not identify your requirements as a pool or spa owner. If you own a pool or spa you are advised by TruePoint Insurance Group, LLC to refer your specific situation to legal counsel.
Insuring A Happy Camper
Making sure Kentucky has Happy Campers starts with Happy Campground Owners. TruePoint is proud to work with Kentucky’s Campground owners to reduce and effectively manage risk. In the end that means not only a safer experience for campers, but in the long run campgrounds that more effectively manage their risk can in turn reduce the cost to the end users.
TruePoint’s role is to offer coverages that are customized for the unique risk that campgrounds are exposed to. Exposures that range from boat slips or docks, to swimming pools, to fireworks displays, groceries, laundries, bath areas and possibly Trailer Spotting. Offering coverages is not enough, our goal is to always be transparent in the sharing of information with the ultimate goal of providing campground owners a full arsenal to manage their risk.
We offer access to coverages that have been approved by the KOA Owners Association. In addition to coverages for the risk mentioned above we can also accommodate and provide coverage for sewer backup, watercraft liability, camping equipment, fire rings, LP gas sales, restaurants and bars, commercial kitchens, various sporting activities and special event coverages. We can offer coverage to seasonal facilities as well as those that provide year round camping.
A few requirements:
All swimming areas must be fenced and gated, signs posted requiring adult supervision at all times and no diving signs conspicuously postedRental power vehicles, whether for land or water use must adhere to standards that vary based on insurance carrier.Certain powered vehicles such as ATV’s, Dirt Bikes, Go-Karts and Ultralights are in most cases not allowed.The bottom-line:SPEED KILLSSpeed limit signs required for all private roadsRental units (RV, Cabins, Etc.) are subject to standards based on age and property condition that varies between insurance options
Some no-no’s include:
No Trampolines
Fireworks limitations do apply to some options
No Diving boards, water slides, or rope swings for pool or other water source use
No Hang Glider or sailplane rentals
TruePoint Insurance Group, LLC
6287 Taylorsville Rd.
Fisherville, KY 40023
(888) 706-5423
TruePoint Insurance Group, LLC is not licensed to practice law, nor can it provide legal counsel. This summary is not intended as a legal opinion. We cannot warrant that the opinions and representations provided in this summary are accurate. TruePoint Insurance Group, LLC has provided this summary of the Virginia Graeme Baker Act for your awareness. The summary may or may not identify your requirements as a pool or spa owner. If you own a pool or spa you are advised by TruePoint Insurance Group, LLC to refer your specific situation to legal counsel.
Certificates of Insurance
Business transactions frequently require the valuable protection provided by insurance. A Certificate of Insurance is a document that is often requested as proof that adequate insurance exists. A certificate is not the same as a policy and certificates do not affect the coverage provided by a particular insurance policy. Therefore, requests to "endorse the certificate of insurance" are inappropriate and misleading. A certificate is a separate document that is used to comply with a common contract requirement to verify certain types and amounts of insurance.
Certificate holders, the entity or party requiring the certificate, often demand that they appear as "additional insureds." This requires an endorsement (change) to the policy and it gives them coverage for injury or damage resulting from the contract.
Example: Tenant A leases a building from Property Owner B. Property Owner B demands that the tenant changes its insurance policy to also show the property owner as an additional insured. If a tenant’s customer is injured on the premises and sues both the property owner and the tenant, the tenant’s liability policy would provide coverage for both parties.
Construction contracts require certain forms of insurance, certain insurance limits, a hold harmless agreement and the inclusion on insurance policies as additional insureds. A "hold harmless" agreement is a contract provision that states how much responsibility each party accepts for damages arising out of the agreement.
A certificate of insurance can confirm that the appropriate policies were issued and that other requirements were also met. It is important to have a system for monitoring receipt of certificates BEFORE any sub-contractors are allowed to begin work. If certificates are not obtained or kept up-to-date, when the contractor’s Workers Compensation and General Liability policies are audited, the payroll for the sub-contractors without Certificates will be included with the contractor’s resulting in an additional premium charge.
Ask your insurance agent to help determine if you should be obtaining or providing certificates of insurance in conjunction with your business. In addition, when you’re required to provide a Certificate, send your agent a copy of the contract. The contract allows the agent to assist you in determining what liabilities you are accepting and what can be done to modify your insurance program to best protect your financial well-being.
COPYRIGHT: Insurance Publishing Plus, Inc. 2014
All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc.
TruePoint Insurance Group, LLC
6287 Taylorsville Rd.
Fisherville, KY 40023
(888) 706-5423
TruePoint Insurance Group, LLC is not licensed to practice law, nor can it provide legal counsel. This summary is not intended as a legal opinion. We cannot warrant that the opinions and representations provided in this summary are accurate. TruePoint Insurance Group, LLC has provided this summary of the Virginia Graeme Baker Act for your awareness. The summary may or may not identify your requirements as a pool or spa owner. If you own a pool or spa you are advised by TruePoint Insurance Group, LLC to refer your specific situation to legal counsel.
The TruePoint Billboard Challenge
Help us Help You and win $100
Good companies understand the importance of client satisfaction. Some even acknowledge that in their slogans. Some good examples of this are ; “I’m loving it”, “Because you’re worth it” and “You’re in good hands.”
Great companies go a step further; they listen placing an emphasis on fulfilling individuals and families basic needs with products and services that improve their lives. “Have it your way,.” No one spells out the significance of client input better than Olympus. “Your vision. Our future.”
We’re Listening. The Billboard Challenge is your chance to chime in, and an opportunity for us to lay the foundation for a successful future. What we need from you is your input. Help us by providing comments that relate to any of the following:
What you expect from your insurance agent; orWhat makes TruePoint different; orHow you would describe TruePoint
TruePoint Challenge entrees must be four words or less. One submission will be selected for use on the agency’s billboard and will receive $100.
Please visit http://www.insuringky.com/#!the-truepoint-billboard-challenge/clua to enter!
The TruePoint Challenge is open to all Kentucky residents age 18 or older. Entries are limited to two per individual. Registration deadline is Sunday August 16th, 2015 by 11:59 p.m. EST.