Monthly Archives: November 2014

Do You Need Employment Practices Liability Insurance?

It is an unfortunate truth that we live in a very litigious society, with people flocking to court houses to sue over slights real and imagined or attempting to obtain compensation for alleged violations of their rights.  While there are many different types of insurance that a business may need, there is one in particular that you should definitely have if you have a workforce of any size.  Employment practices liability insurance can protect your company against lawsuits or claims from your employees regarding violations of their rights as employees of your business.

Schumacher Insurance

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Large corporations may have in-house legal teams and hefty budgets with which they can fend off a barrage of lawsuits, but smaller businesses could find themselves in an extremely costly battle in court if they don’t have the right insurance coverage to protect them against possible claims of rights violations by their employees.  Some of the more frequently seen lawsuits for which employment practices liability insurance can offer coverage include sexual harassment, breach of employment contract, failure to promote, wrongful termination, mismanagement of company policies or benefit plans, and infliction of mental or emotional distress (sometimes known as a hostile work environment).

You may not think you need this type of insurance for your business, but the truth is that if you have employees working for you, having the insurance before you need it is infinitely better than needing it and not having it.  While issues may be few and far between, they can still arise and cost your business in more ways than one.

Find out how we can help you protect your business interests with a variety of insurance plans and coverage options.  Contact one of our experienced agents at Schumacher Insurance Group for details.

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How to Better Understand Your Insurance Contract

We all know we need insurance for many things, but there may be some terms and phrases in our insurance contracts that we don’t completely understand, even if they are part of any standard policy.  When you’re wondering how to better understand your insurance contract, here are a few key components you should know.

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The deductible is the amount you pay out-of-pocket before your insurance provider will pay for other amounts that are due.  For example, if your auto insurance policy has a $500 deductible and you’re involved in an accident where there is $2,500 worth of damage, you must pay the $500 deductible yourself before your insurance will cover the $2,000 remainder.  Many people prefer low deductibles because it comes out of their own funds, but lower deductibles often mean higher premiums.

The insurance premium is the amount you pay on a periodic basis to keep your insurance coverage active.  Some people pay for their insurance on a monthly basis, while others have premiums they pay every six months or even once a year.

Make sure you are aware of coverage limits in your insurance policy.  Coverage limits are the maximum amount your insurance provider will pay for certain circumstances that require them, under the terms of your insurance policy, to compensate you or someone else.  Some coverage limits are set on an annual basis while other policies have a lifetime limit.

If you have specific coverage needs for your auto, home, life, or other insurance, be sure your policy will provide for those needs and that they are not part of any exclusions or special provisions that require the purchase of additional coverage or an add-on policy.

Let Schumacher Insurance Group work with you to meet all your insurance needs.  Contact us today to find out more.

What is Builder’s Risk Insurance?

There are several different types of insurance that may be needed for companies that focus on construction, and one of the most important coverages you should consider for your business is builder’s risk insurance.  A building under construction is not necessarily an accident waiting to happen, but it does pose more threat of potential injury or damage than completed structures, because there is so much more going on during each phase of construction.

What is Builder's Risk Insurance

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Builder’s risk insurance is a type of commercial insurance coverage that specifically applies to buildings that are under construction.  Not only does it provide coverage for the actual structure being built, but you can even obtain coverage with your builder’s risk insurance that will protect tools, supplies, and machinery that are being stored at off-site locations.  It can even provide protection for items in transit from a storage location to the construction site.

Many different natural disasters, like wind and rain damage, can be included as part of what your builder’s risk insurance protects you against.  Other situations like fire, theft, vandalism, and personal injury can also be added to your insurance coverage.  Having the right insurance coverage is essential to protect your company against potential perils that could prove costly if payment for loss or damages were to come out of your company’s pocket.

Find out more about how builder’s risk insurance can be a huge benefit to your company or have your current coverage reviewed to ensure that it is providing you with the protection you need.  Contact one of our experienced agents at Schumacher Insurance Group today for details.

Manage Your Small Business’s Insurance Needs With These 3 Tips

One thing which all small businesses need to manage is costs. When costs overtake income, most small businesses don’t have too large a war chest to tap into. If you need some help to manage your small business’s insurance, here are 3 tips.

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Bundle: Many insurance companies these days are offering umbrella bundled policies. If yours is a family owned business you may be able to achieve some real discounts by bundling your own family insurance in under your businesses insurance. At the very least you may be able to achieve some discounts by bundling your employees insurance coverages with the businesses insurance.

Deductible: Another area you can really save money on your insurance policy is the deducible. The deductible is the amount you pay before you insurance kicks in if there is a claim. For some the lower the deductible the better. But if you raise your deductible you may be able to save some substantial money on the premiums you pay each month. Of course if you have a lot of claims then you may not want to do that; but if your claims are too regular, you might want to consider the third suggestion.

Risk: One more way to manage your small business’s insurance is to manage your risk. You may have totally amazing staff who keep breaking limbs on the job. By undergoing some risk management training and teaching people how to do their job safer, you will be able to save immensely. Oftentimes just getting your staff certified in certain areas can mean substantial insurance savings.

You may need to talk with someone about your insurance needs. If you are looking for coverage or more information for your business in New Jersey, call on the expert team at Schumacher Insurance.

They are here to serve!

5 Tips for Getting the Best Homeowner’s Insurance

Homeowner’s insurance is something that everybody who has a house needs. In fact, if you don’t get it yourself, most mortgage lenders will force a homeowner’s policy onto your bill, often at a much higher rate than you could get on your own. While shopping for a homeowner’s insurance policy isn’t going to be the most fun you’ve ever had, it is something you must do. Use these five tips for getting the best homeowner’s insurance policy for your home and family.

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  1. Get a recommendation from a friend or family member who owns a house. While you will still need to do your own research, getting the name of a potentially viable company from a friend or family member that already has a policy can be a good start. Chances are they shopped around too.
  2. Make sure you’re covered against accidents and natural disasters in your area. For example, not having earthquake coverage in California or tornado coverage in Oklahoma is a great big gaping hole in your policy. Make sure you’re insured for all the possibilities.
  3. Get flood coverage all of the time. Even if you live in a dry climate, flood coverage can help you pay for the damage your home incurs from natural disasters and manmade ones if you get the right policy.
  4. Have an inventory of personal belongings. Make sure you know the appropriate value for replacing those items too so you don’t have to go out of pocket.
  5. Consider working with a company you already have a policy with. In some cases, you might be able to get a discounted homeowner’s insurance policy from the same person who handles your health or car insurance – if they sell it.

Contact us for more information and tips for getting the best homeowner’s insurance.

Protect the Interests of Your Small Business With These 3 Tips

At Schumacher Insurance, we help our clients with all their insurance needs. That includes small business protection, so you are covered for whatever challenges you may face. To protect the interests, a few important tips can help you stay informed and avoid the risk of a lawsuit. All businesses face some risk, and knowing what to do will steer you clear of pitfalls.

Protect the Interests of Your Small Business

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First, it is essential that your small business has insurance. This is what we provide at Schumacher. There are a number of areas including umbrella, commercial property, and liability. The last is especially important. Obtain proper coverage for your needs.

In determining legal action, be sure to have files on hand. The information is vital. Since most of it takes place on computers, see that they have security software installed. Double check to ensure that your files are obtainable and accurate.

It is also a good idea to hire a good attorney. Have them look over documents and all legal matters. They can help you decide the best course of action and recognize any potential issues along the way. Ask them any questions and concerns you have do you know what you are dealing with.

These tips will help you with small business protection. All business owners face these challenges. With good information and an agency you can trust, you can make the right choices. The staff Schumacher will gladly assist you in finding the right coverage. Learn about the different types and get insured. Protect your interests with your information on hand and an attorney. It will help you navigate through any legal issues. These are common business needs and  they can be take care of.

For more information on Schumacher Insurance, contact us online.

Heading to See Family This Holiday Season? Here are 5 Tips for Long Winter Road Trips

Traveling to see family during the holiday season can be a lot of fun, but traveling during the winter season can be dangerous. Mother Nature does not put winter weather on hold, even when you are behind the wheel of your vehicle. Here are several tips for long winter road trips to keep you safe when traveling during the holidays.

Here are 5 Tips for Long Winter Road Trips

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  • Check the weather before leaving for your road trip. If the weather shows severe weather, consider changing your route or postponing your trip altogether. It is always better to be safe than sorry.
  • You do not want to go on the road with an automobile that cannot handle the weather, so be sure to have it inspected before the trip to ensure it is in peak operating condition.
  • All tips for long winter road trips are important, but we cannot stress this one enough: drive slowly. Accelerating, stopping and turning takes longer when the road is covered in snow, plus the ground is too slippery to complete these maneuvers at a faster speed.
  • When on snow-covered roads, accelerate and decelerate slowly. Speeding up on icy roads can cause skidding and a possible accident. Whether you are applying the gas or coming to a stoplight, be mindful of the weather and take it slow.
  • Prepare for the winter weather by packing all the necessities in a bag and keeping it on the floor of your vehicle for easy access. This includes a cellular phone, blankets, gloves, hat, water, food, medication and your local AAA’s telephone number.

Schumacher Insurance is an insurance company that is always there for you, and we put your well-being above all. To learn more about our company, or to find more tips for long winter road trips, contact us and we will respond in a timely manner.

How to Avoid Holiday Safety Mistakes This Season

As a home owner, you no doubt already know how important it is to have homeowner’s insurance. This keeps you safe in the event of a mishap in your home that is caused by you, someone else or even by a natural disaster. One of the best ways to stay safe, even with insurance, is to know how to avoid holiday safety mistakes. Here are those that tend to be the most common.

How to Avoid Holiday Safety Mistakes This Season

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  • If you bring a Christmas tree, holiday wreath or some other type of plant into your home for the holidays, be sure to have them set up in a place where they are not accessible to very young children or pets. These plants can be toxic and should be kept out of kids’ and pets’ reach at all times.
  • Kitchen fires are very common during the holidays as cooking is done much more frequently. Keep all items that are flammable, such as wooden utensils, packaging, towels and paper away from the stove.
  • During the holidays, it’s normal to have plenty of Christmas lights and other items plugged in. Use a ground fault interrupter in which to plug in these items to prevent electrocution. When overloaded, the GFI will warn you.
  • Christmas tree fires are easily prevented when you know how to avoid holiday safety mistakes. Always keep your tree away from the fireplace and space heaters.
  • Be careful when you are decorating your Christmas tree. Falls are some of the most common accidents that occur during the holidays. You can avoid this disaster by using a step stool or ladder when decorating. While on a ladder, have someone hold it steady for you.

Contact us to discuss which of our insurance policies is the best option for keeping you and your family safe in your home.

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