Many business owners purchase insurance and hope that they never have to use it. They walk away from the transaction not fully understanding their coverage – or their coverage limits. In order to keep costs reasonable, your insurance company will set insurance limits of liability. Liability insurance covers the costs of damages you’re responsible for causing. It’s in your best interest to understand the basics about the liability limits so you know where your business stands.
Insurance rates are determined by assessing risk or the likelihood of a claim being filed, as well as the maximum amount that may be paid if such a claim were to be filed. In essence, if it’s likely that the insurer will pay out a significant settlement in the future, the premiums will be higher.
If a claim is so extensive that it maxes out your policy, your business can be held responsible for the difference. For example, if you are responsible for $2 million in damages but only carry $1 million in insurance, you may have to pay the remaining $1 million out of pocket.
Generally, carrying more coverage with higher liability limits helps to protect your business. However, you will want to ensure that the price of coverage still fits within your budget. If you operate in high-risk environments or industries, you are usually better suited to higher minimum liability insurance limits.
For the right commercial property insurance policy, contact our expert team at Abatelli Group, Inc. today. We serve Whitestone, Flushing, Bayside, Little Neck, and surrounding cities of New York with reliable coverage!
The weather at this time of year can take a serious toll on our vehicles. The rain, wind, fog, and cold temperatures wear on our cars as we rely on them every day. Unfortunately, this inclement weather often spikes the number of accidents on the roads. When you’re driving in bad weather and road conditions, you’ll need to be careful and aware of the driving hazards posed by these conditions. To prepare your vehicle to weather any storm, take a look at these important tasks.
Keep it clean
As a driver, you need to have a clear view of everything on the road. When your windows are dirty or greasy, the sun and bright headlights can make it especially hard to see. Bad weather conditions can add more obstructions to your view. Before you drive, ensure that all windows and mirrors are clear of dirt, frost, ice, and residue.
Check your windshield wipers
Windshield wipers need to be replaced at least once a year at the start of the rainy season or when they are worn or ineffective in cleaning your windshield. Be sure to check them regularly so that you can clearly see out when it’s raining.
Pack an emergency supply kit
Always be prepared. Make sure your trunk is filled with things you may need in a car emergency, such as jumper cables, a tire jack, flashlights, radios, a tool kit, and an extra canister of gas. Also include supplies for yourself and passengers such as a first aid kit, blankets, drinking water, and any important medications.
Fill it up
In inclement weather, the chances of an accident increase. While you may not be involved in an accident, you could be stuck in serious traffic. What’s more, road closures may mean you’re out on the road for longer than anticipated. Ensure you keep your fuel topped up in case you run into the unexpected.
We hope that these tips help to prepare your vehicle for inclement weather. For all of your insurance needs, visit Abatelli Group, Inc. We are ready to help you find reliable insurance today.
A commonly overlooked factor of home protection is the roof. Most homeowners are under the misconception that roofs last a lifetime and only need the odd repair. However, this simply isn’t the case. Your roof is constantly exposed to weather conditions and natural disasters. Over time, this takes a toll. Below are just a few common signs that it’s time to replace your roof.
The shingles all add up to create a protective barrier for your home. Broken, missing, or damaged shingles could mean that your home’s roof is vulnerable. Buckled shingles can occur because of moisture in the attic space forcing nails to push up and out of the roof’s decking. This can leave your home exposed to outside elements.
If you notice that there are missing granules on your roof, it could be a sign that it is dramatically losing its weatherproofing properties. Check in the gutters to see if there is granule build up, and you will be able to tell if you should consider roof replacement.
A roof over twenty years old is most likely in need of some repair, if not replacing altogether. Roofs are exposed to the element’s on a daily basis, and all of these conditions will take a toll over time. If your roof is pushing the age of twenty, consider replacing it.
Bear in mind that roof maintenance and replacement is up to the homeowner. Your homeowners insurance policy will only help to repair or replace the roof if it has been damaged by a covered peril, such as a fire or natural disaster.
Need help finding adequate insurance? Contact Abatelli Group, Inc., serving Whitestone and neighboring cities in New York with the right and reliable coverage.
It’s a momentous occasion – Your teen just got their driver’s license! Although you’re incredibly proud of them for completing this milestone, it’s also a nerve-racking time as they take the wheel. After all, the statistics are concerning – motor vehicle crashes continue to be the leading cause of death in the U.S. for 15 to 20-year olds. If your teen has recently received their driver’s license, take a look at these tips.
Set driving boundaries
Discuss driving guidelines and boundaries with your teen before letting them have the keys. Perhaps you don’t want them driving more than 30 minutes away from home, driving at night, or driving their friends – at least until they have built up their confidence behind the wheel.
Explain the consequences
As an adult, you are well aware of the driving risks that motorists face every day. However, your teenager may not understand the consequences of their driving actions. Talk to your teen about how even a moment of distraction can have damaging effects.
Lead by example
Practice safe driving when you’re behind the wheel. Follow the rules of the road, avoid distracted driving, and your teenager is more likely to follow suit.
When businesses think about what active risks they face on a daily basis, they are likely to come up with a long list of cyber risks. While this is fundamentally an important issue to address, cyber risks are not the only threats that you should be concerned about. Read on for a few emerging risks to businesses that aren’t cyber.
Professional Service Mistakes
Although it’s not a new risk, it is becoming more popular now that consumers feel justified and supported when they do not get the service or product they were expecting. A business doesn’t have to make a mistake to face an allegation. One lawsuit, however unwarranted, can cripple a small business in terms of time and money. Ideally, businesses should have professional liability insurance in place to handle such risks.
Every business should have insurance to protect their physical location against fires, theft, natural disasters, and more. However, the climate is changing and weather events are becoming more and more extreme. From fires to floods, it’s a good idea to look into extra storm protection. Typically, flood insurance is not included in business insurance policies, meaning you will need to purchase coverage separately.
An emerging risk is increasing deficiencies in insurance policies themselves. Consumers are often under the misconception that the only real difference between insurance companies is the price of their policies. Buying policies that don’t cover much for a small expense every month can hurt your business rather than protect it. You should work with an insurer that is able to provide optimum coverage for the right price.
Talk to the team members at Abatelli Group, Inc. to find out how we can help protect your company overcome emerging risks. With reliable commercial insurance we can help your business’s livelihood. Contact us today to get started.
Whether you’re finally moving out of your home and into an office or you’re starting a new business fresh, finding the right workplace is imperative. Your surroundings can directly affect how well you work – and therefore, how likely your business is to succeed. Treat a checklist for setting up a small business office as one of the essential tasks in getting your business off the ground.
Any long-term storage for warehousing product or storing archived documents can be done at an inexpensive offsite storage facility. Check that this place has a strong gate with a combination lock for security. For storage in the office, use cabinets and closet space up first. You can maximize your storage space as much as possible by buying storage you can stack as opposed to anything that would take up extra floor space.
Desks, chairs, and tables are all essential office furniture pieces. You can pick up used furniture in your local area or opt for new pieces, depending on your budget. Utilize cabinets as tables to save on buying more furniture, too. For example, place the printer on top of the filing cabinet rather than buying a separate table for it.
You will need a phone system, computer, Wi-Fi, and more to run your business. Look into professional phones that have intercom and more. Computers, screens, and laptops can be found second-hand or bought new and kept throughout the years. Depending on your size and budget, it is a good idea to have good quality systems in place. Additionally, you’ll want to supply your team with notepads, paper, pens, and pencils for any notes or recordkeeping that they may need to do.
A small investment business insurance for your small business can pay huge dividends if an accident happens. For the business insurance your company needs, contact Abatelli Group, Inc. in Whitestone, New York today!
When was the last time you reviewed your auto insurance? When you first got the policy? A year after? Generally, it’s a good idea to review your coverage on a regular basis. Coverage needs can change as the years pass. There is also a good chance that rates have fluctuated since you first bought the policy. Reviewing your coverage and your coverage options help you maintain the right amount of insurance for the right price. For tips on how to get the most out of your coverage, check out how and why you should enhance it.
In most states, there are minimum amounts of coverage needed within an auto insurance policy. If you have opted for the bare minimum to keep your costs down, you may want to think again. Property damage may run much higher than your coverage limit, meaning that you could be left in the lurch if you’re found at-fault for an accident. Along with property damage, medical bills and liability can rack up some high costs – so it’s safer to increase your limits so that you’re well protected from digging into your own pockets.
While you may have adequate insurance if your vehicle is damaged, you can’t predict what coverage the other driver will have – or won’t have. When you’re involved in an accident with another driver who is at fault, you rely on their insurance policy to cover the cost of damages. If they don’t have insurance, or not enough of it, you could be left paying for damages and repairs yourself. Uninsured motorist coverage protects you from this additional cost.
Great employees are the lifeblood of any business, but employers are the heart that pumps this blood which makes their business succeed. Losing employees is a concern for any small business because it costs them not only money, but time and productivity. For small companies, keeping the productive and hard-working employees is crucial. Here are a few tips on how employers can have high employee retention for their business.
Take these employee retention tips into consideration in order to keep your best employees. Make sure that your small business is protected with the right commercial insurance policy. Contact Abatelli Group, Inc. for a proper policy on your insurance needs.
Personal liability insurance protects all of your assets by paying claims and damages made against you in case you injure other people or other property.
The good news is that if you have auto, renters, or homeowners insurance, you already have some coverage.
If you hit someone with your car your auto liability insurance kicks in to pay for the damages to the car and the other person’s bodily injuries. If someone falls down your stairs and breaks their leg, or injures themselves in some other manner, your homeowners liability insurance will cover the medical bills. These are all, of course, up to a limit.
But what about everything else that is not covered by your home or auto insurance? Or the amount for which you are liable surpasses your covered amounts? This is where umbrella insurance can step in to cover the gaps that are not covered by your home and auto insurance.
If your limit on your homeowners insurance policy is only up to $500,000 and the accident which you caused leads to being a $1 million dollar lawsuit, you are going to be in trouble. About half-a-million dollars in trouble. An umbrella policy can cover that amount, but only after your home/auto insurance policy is tapped out.
This is one reason that umbrella insurance policies are inexpensive. And their price is one of the reasons you want to take advantage of an umbrella insurance policy and be covered for any possible accident.