Most people are always on the lookout for ways to save money. You might think that items that are mandatory, such as auto insurance, do not offer you many options to do so. However, you could be overlooking a quick and easy way of saving money each year on your insurance premiums simply by not accurately reporting your annual mileage.
Low Mileage = Discount
Insurance companies look at the risk you bring to the table when they determine the rate you pay. The lower your risk, the lower your premiums. If you drive fewer miles than their benchmark figure, you will likely get a discount. While the actual mileage varies with each insurance provider, most use a figure between 7,500 and 15,000 miles annually.
Annual Mileage Reporting
There are a few life circumstances that make it more likely that you are driving under the cap of annual miles set by your insurance company. Adding a second car that is only used for errands is one such example. Retirees who no longer commute to work each day could be eligible for a discount. If you work at home, your annual mileage figures could be reduced enough to allow your annual mileage to fall under the cap. Seniors that do not drive often are another segment of the population that could qualify.
Taking Advantage of the Discount
Depending on your insurance company, you could receive a survey in the mail about your driving habits. Filling this out and returning it to your insurance company gives them the tools they need to they can determine if you are eligible for the discount. Alternatively, you could also contact your insurance company and ask them if you qualify for the low-mileage discount.
Society is different than it was just a few decades ago. It has become contentious. Even a small accident that occurs, with seemingly no one at fault, can result in a large legal endeavor. When that happens, insurance companies enter the fray.
General Liability Insurance Defined
In short: General Liability Insurance is for most types of businesses where there may be instances of bodily harm, injury, and damages inside the business property that were caused due to owner or employee negligence. General liability insurance is dynamic coverage that includes anything from personal injury on the job to product misuse or malfunction.
This type of insurance is vital. Most savvy business owners and new business consultants will tell you that you don’t start a business without some form of general liability insurance. This type of coverage protects your from legal actions, such as suing, for occurrences that may or may not have been caused by you or an employee of your business.
Mitigating Liability Risks at Work
There are ways to mitigate these kinds of circumstances, however:
- Always ensure that quality and product control are handled to the highest standard by employees who are well trained and take their task seriously.
- Keep accurate data of all company records.
- Ensure that your employees are well trained and informed on all safety procedures and protocols that are necessary within the business.
- Never “sit on” an accident report that may result in a liability claim. Always ensure that you make all parties aware as soon as it happens.
However, those are only mitigating factors. You can never ensure or guarantee that something will not happen in the workplace which you and your business may be found liable. That’s why general liability insurance is so important. It is the “front line” of liability defense. While other types of coverages, such as cyber-security insurance and commercial property insurance, cover very specific terms, the general liability insurance has a wider umbrella of protection.
The leaves are changing colors and Starbuck’s famous Pumpkin Spice Latte has made its official appearance for the fall season. Everyone is getting ready for fall, so should you.
A major stipulation of your homeowner’s insurance policy is maintenance of your home. It is not uncommon for carriers to deny payment of a claim for any damage to your home, if it has been found that your home has not received the proper maintenance. Here at Scurich Insurance Services, we don’t want to see that happen, so here is your fall checklist of home improvements.
- Grab a ladder and clean out the gutters. Yes, those fall leaves are pretty but if your gutters are clogged with them, any rain or snow could create a bigger problem in the future.
- Get your caulk gun out and start sealing up all the cracks you see around the windows and doors.
- Winterize your pipes. This is the perfect time to do it, before it gets too cold.
- Repair your drive before the winter comes. This is actually a better spring project, but if you didn’t get around to doing it before now, do it now.
- Call the chimney guy. Fall means the start of colder weather. You need to make sure your chimney is clean before lighting your first fire.
- Replace or clean your furnace filters.
For more information about your homeowner’s policy, contact Scurich Insurance Services today.
Content provided by Transformer Marketing.