Contact us

(831) 722-3541

Contact us

Contact details:

Message:

Your message has been sent successfully. Close this notice.

Commercial Insurance Quote

Coverage Information

Current Coverage Information

Contact details:

Your Quote Form has been sent successfully. Close this notice.

Auto Insurance Quote

Contact details:

Current Coverage Information

Your car:

Your Quote Form has been sent successfully. Close this notice.

Homeowners Insurance Quote

Your house:

Current Coverage Information

Contact details:

Your Quote Form has been sent successfully. Close this notice.

Life Insurance Quote

Life Insurance Details

Current Coverage Information

Contact details:

Your Quote Form has been sent successfully. Close this notice.

Health Insurance Quote

Coverage Information

Current Coverage Information

Contact details:

Your Quote Form has been sent successfully. Close this notice.
3 years ago · by · Comments Off on How does my loss ratio affect business insurance premiums?

How does my loss ratio affect business insurance premiums?

Scurich Insurance Services, CA, Workers CompensationAny new business is considered to be high risk by your insurance company, and the appropriate premiums will be charged. After all, you have not had the opportunity to prove otherwise. As your business becomes more established, though, other factors come into play and help determine your business insurance premiums. Your loss ratio is one such factor that insurance companies take into consideration.

Loss Ratio Explained

The loss ratio can most easily be explained as the ratio between the premiums that the insurance company receives from you compared to the amount of money they pay out as the result of claims to your business. A simplified example that helps you understand how insurance companies look at loss ratio is this:

  • If you pay your insurance company $200 a month, that is $2,400 per year in premiums they receive.
  • Suppose your business is paid $1,200 in covered claims by your insurance company that year.
  • This results in a loss ratio of 50 percent for your insurance company.
  • Your insurance company had a profit from your business of $1,200 since they paid out half ($1,200) of the yearly premium you paid them ($2,400) because of the claims they paid to you ($1,200).

Loss Ratio and Your Insurance Premiums

If your loss ratio is higher than comparable businesses in your industry, you will likely pay higher premiums for your insurance coverage. The same is true if you have one year that is marked by a high loss ratio even if you have shown a low loss ratio during the years prior to that particular year. Your insurance company can help you find the policy that best applies to your own unique business situation.

Read more

3 years ago · by · Comments Off on Are you offering your employees the best benefits possible?

Are you offering your employees the best benefits possible?

silhouettes2Finding — and keeping — great employees is always the challenge of any business. While recruiting and training employees can be an expensive process, it is an investment in the growth and well-being of your company. In order to protect your investment, you need to make sure you are giving your employees the best benefits for their needs.

Health Insurance

Whether you are required by the federal government to provide health insurance to your employees or not, you should offer them the choice. In addition, paying for a certain portion of that health insurance goes a long way toward retaining those high-quality employees you worked so hard to find and train.

Retirement Plans

If you have a young workforce, you might not think that they are concerned about retirement. Even though young people thrive on adventure, it doesn’t mean that they aren’t planning for their retirement. Offering the option to pay into a retirement plan helps your employees plan for their future and makes them feel like you are invested in that with them.

Other Benefits

While other benefits such as life insurance, disability insurance and vision and dental coverage might not be on the must-have list for all of your employees, it is still important to offer them these options. Providing a range of different benefits allows your employees to pick and choose those options that best fit their situation at that time. You will likely find that their choice of benefits changes as their life circumstances change. A 20 year old employee, for example, might not be interested in obtaining life insurance until he becomes a father years later.

Read more

3 years ago · by · Comments Off on Is your home properly insured in case of fire?

Is your home properly insured in case of fire?

fire-89353_1280You already know that you need homeowners insurance to protect this huge investment that you’ve made. Since fire is one of the catastrophes that this type of insurance covers, you might think that you are in the clear and that you don’t have to worry. There are some instances, however, during which your insurance company might not pay out as you expected.

Replacement Cost

While you might think that your homeowners insurance allows you to replace your home and its contents, chances are that your insurance company will pay out only the actual cost. The discrepancy between the two values could lead you to having to come up with some money out of pocket to rebuild your home. In order to make sure that your insurance pays out at the replacement value of your home and belongings, speak to your insurance agent about a policy rider that you can purchase.

Historic Options

Homes that are historic in nature or that have customized interior work might need to be covered with special insurance coverage. A standard homeowners insurance policy will pay only to have the industry standards replaced within your home. This could result in either a reduction in the value of you home or a significant out-of-pocket expense for you to restore it to its prior state.

Debris Removal

Clearing out the debris caused by a fire is something that is typically only partially paid for by a standard homeowners insurance policy. This is especially true if your home is deemed to be a total loss that must be demolished or if you live in a mobile home whose value is negligible.

Read more

3 years ago · by · Comments Off on What is hired and non-owned auto liability insurance?

What is hired and non-owned auto liability insurance?

car guyAuto insurance can be a bit tricky when it comes to your employees. While you might think that they are covered under your basic auto insurance policy you have for your business when they are on the clock, there are times when your employees might not be. When using a business vehicle to complete business-related activities, your employees are covered if they happen to get into an accident or otherwise cause damage. When the same activities for your business are undertaken while they are using their own private vehicles or a rental car, though, the rules are a bit different. This is where hired and non-owned auto liability insurance kicks in.

Why Choose Hired and Non-Owned Auto Liability Insurance

In most cases, your employee’s own private insurance will provide enough coverage to account for any damages that are caused while they are completing business. In today’s litigious-minded environment, however, the costs of any accidents or damage could easily exceed the limits that are in place on your employee’s coverage. Hired and non-owned auto liability insurance provides you with that necessary extra layer of coverage that protects your business.

Coverage Details

Hired vehicles that are covered by such a policy include those that are borrowed or rented while the non-owned vehicles portion covers those vehicles that are owned by people besides the business — including your employee’s vehicle. While this type of coverage is usually added as a rider to your business insurance policy, your insurance company can also add it to your general insurance policy if you do not have a separate business policy. Doing so protects your business if your employees get into an accident while using a non-business vehicle and supplements the policies provided by rental car agencies.

Read more

4 years ago · by · Comments Off on What’s the difference between Bodily Injury coverage and Med Pay?

What’s the difference between Bodily Injury coverage and Med Pay?

accidentIt can seem like bodily injury coverage and medical payments coverage are one and the same. After all, most people who are injured in an accident are going to have some type of bodily injury that requires them to seek medical care. The injured person would then seek out payment for that medical care from the appropriate insurance company. In actuality, though, these are two vastly different — and necessary — types of insurance.

Bodily Injury Coverage Explained

Bodily injury coverage is solely for those injuries incurred by other people that have been caused by you or other people on your insurance policy. If you or someone who is on your insurance policy is found to be at fault as the result of an accident, bodily injury coverage will pay out. Like nearly all states in the country, California requires that you maintain a certain amount of bodily injury coverage.

Medical Payment Coverage

While medical payment coverage is similar in that it pays out to a person who is injured during an accident, there the similarities end. This type of insurance pays for reasonable medical expenses to you as well as any passengers who were in the vehicle with you. Medical payments coverage pays out regardless of who was at fault for the accident.

In California, the minimum amount of bodily injury coverage you must maintain is $15,000 for one injured person and $30,000 for all injuries combined. Any expenses above those amounts would be your responsibility. While those amounts might seem high, considering how expensive healthcare is these days, you might want to make an appointment with your insurance company to go over your policy to make sure you have the right coverage.

Read more

Company information

Scurich Insurance Services
Phone: (831) 661-5697
Fax: (831) 661-5741

Physical:
783 Rio Del Mar Blvd., Suite7,
Aptos, Ca 95003-4700

Mailing:
PO Box 1170
Watsonville, CA 95077-1170

Contact details

E-mail address:
Info@ScurichInsurance.com

(831) 661-5697

Available 8:30am - 5:00pm