Insurance Blog
Informative articles on insurance, safety and risk for you, your family or your business. Each article includes a link for you to share with anyone who may benefit.
1.ALWAYS READ A CONTRACT CAREFULLY – never skip the “fine print” because it may include important information that may not be in the best interest of your business. 2. NEVER ASSUME YOU KNOW WHAT IS INCLUDED IN A CONTRACT – unless you or your attorney has drafted it. 3. TALK WITH AN ATTORNEY – • BEFORE you sign a contract that your attorney has not reviewed. • To understand what you are being asked to agree to. • If you are asked to sign a contract that you are not familiar with. • If you are asked to add or change provisions to your contract. 4. YOU MAY NOT NEED TO CONSULT WITH AN ATTORNEY EACH TIME YOU ENTER INTO A CONTRACT – if you use a standardized contract that has already been reviewed and approved by your attorney. 5. SPEAK WITH YOUR INSURANCE AGENT – Contact EIFS at 888-343-7463 • If your contractual obligations require you to change insurance coverage • If you are hiring independent contractors or Subcontractors E.I.F.S. has an in-house lawyer who may be able to help you with your contract needs. Contact us to discuss how your contracts may effect your insurance policies. 888-343-7463 For More Information on Contracts Visit The Hartford: “Contracts: No Pain, No Gain” www.thehartford.com
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DO YOU HAVE EMPLOYEES?!?!? If you have one or more employees working in NY State you are required to obtain NYS Workers’ Compensation insurance coverage.The Workers’ Compensation Insurance Policy must be effective no later than the first day you have employees. Understanding whether your business needs Workers’ Compensation coverage can be difficult.But it is important to make sure you have the proper coverage.The agents at E.I.F.S. are experts in Workers’ Compensation and can make sure you have the coverage you need. View Our Informational Video Here is some more information to help get you started: But it is important to talk to someone to be sure your business is correctly covered. Family Businesses: Family member who work for the business, including spouses, are considered employees if they work 40 hours a week or live on the premises. If it’s a home business you must have a separate Workers’ Compensation policy. General Contractors: General Contractors should carry a Workers’ Compensation insurance policy if hiring sub-contractors. When Hiring Independent/Sub Contractors: A true independent contractor is self-employed. He or she has a Federal ID# and maintains a business location.In this case the party responsible for Workers’ Compensation depends on the number of hours worked, the method of operations, the raw materials and state laws.Even if you think that they are responsible for Workers’ Compensation, you want to clear on this upfront and have contracts in place specifying whom is responsible for Workers’ Compensation. This is not just in the contracting arena; this is true for any sub-contractor, for example a website designer. Volunteers: If they volunteer without pay or compensation then they are not employees and do not need Workers’ Compensation, but covering them could avoid costly lawsuits. Sole Proprietorships/Partnerships – You can choose if you want to be covered or not, but the safer choice is to cover yourself in case an injury occurs while on the job. Many health insurance policies will not cover work related injuries.If you’re not 100% sure that your business falls into this category, call us to be sure. (888)-343-7463 Special Employees – If you have special employees such as temps, borrowed employees or leased employees you want to be certain about who must provide Workers’ Compensation. Usually the company or the person who controls the work is also responsible for Workers’ Compensation. If you’re not sure, contact us (888)343-7463 and we can help you figure it out. Failure to obtain a Workers’ Compensation Policy when required constitutes a Class E Felony if you have more than 5 employees and a misdemeanor if you have less than 5 employees and it can cost you a large sum of money in penalties and the cost of a claim in an injury occurs. If you’re unsure if your business needs Workers’ Compensation, call or contact Executive Insurance & Financial Services and let our licensed & knowledgeable professionals guide you. 888-343-7463 Learn the Top 10 Reasons to Call E.I.F.S. for your Workers' Compensation Policy!
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Put a hold on your mail and your newspaper deliveries, or have someone take in the mail so your home doesn’t look empty. 2. Don’t Broadcast Your Trip Don’t tell too many people you will be away, you don’t want the wrong person to know that you left your home empty. Don’t post your upcoming trip on Facebook, Twitter, or any other Social Networking site. Don’t “check in” to restaurants, stores or tourist sites online while on vacation. Don’t post daily updates or blog about your trip while you’re away. Resist the urge to post pictures from your trip online until you get back home. No matter how tight your privacy settings are, broadcasting your trip over a blog or social networking site allows strangers (or worse, untrustworthy friends) to know that your home is empty. 3. Have a friend watch your home. Ask someone you trust to drive by your house daily.Give that person or a key to get in incase of an emergency like a water leak or an alarm sounding. If you have more than one person visiting your house (such as a dog walker or someone watering your plants) make sure they know about each other. 4. Make Sure You can Be Reached The same someone watching your house should have a way to reach you by phone.If you will be out of the country or on a cruise, plan ahead and test the number, to make sure that you can give your contact person a working phone number to reach you.Give this person other important contact numbers, including your insurance agent’s phone number.(For E.I.F.S. its (888)343-7463) 5. Make Your House Look Lived In Use timers to have lights go on and off so they think someone is home. Set at least two lights to go on and off at different times in different parts of the house.Leave curtains as you usually keep them; noticeable changes will hint that you’re not around. Ask the person watching your house to do small things to make your home look lived in.Have them move a car, park in your driveway, or take out the trash and put the garbage can away again the next day. 6. Hide Valuables Move expensive items such as jewelry, cash, and silver so that it is out of site. Make sure you can’t view anything valuable from the windows of your home.Put laptop and other electronics safely away and out of site. Do not leave purses or bags sitting out where they can be seen, even if they are empty. 7. Change Your Answering Machine Callers don’t need to know you’re not home. Change your message so it says “we can’t come to the phone right now.” 8. Protect Your Home from Danger (such as Water or Fire) Unplug all small appliances (such as the toaster oven, coffee pot, TV, and computer). Don’t leave the house until you check that there is no water left running. If you’re going to be gone for a while turn off the water to your washing machine, icemaker and dishwasher. 9. Lock all doors and windows. It sounds simple enough but check all doors and windows.Did you forget the garage and basement entrances?Make sure cat/dog doors are locked up tight. Remove your spare key from its hiding place. 10.Don’t Leave Burglars a Map to Your Empty Home Don’t leave your portable GPS unit in the airport parking lot with your “home” location programmed into the system.Add a working garage door opener and you have not only left them with a convenient map to your home, but also a way to enter it. Also make sure nothing else in the car identifies the address of your empty home. The best way to protect your home is with a good Homeowner's Insurance Policy. Call E.I.F.S. today and let us help you relax by making sure your home is protected. (888)343-7463 or Contact Us By E-Mail Now that your home is secure, have a great vacation and relax!
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Having Trouble Understanding Workers' Compensation? Want help arranging your Workers' Compensation Policy?
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Flood Insurance - Even if You Don't Think Flood is a Risk
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Our agents at Executive Insurance and Financial Services will work with you, and help to you find ways to lreduce Homeowner's Insurance premiums.
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How Technology E&O Coverage Differs from General Liability: You Should Buy BOTH General Liability and E&O Insurance from the same company. This helps ensure that there are no unintended gaps in coverage between the two policies.It also eliminates the issue of coverage disputes between carriers if a claim triggers both policies. At E.I.F.S we know that insurance is not your business.While we encourage you to understand the basic differences between General Liability and E&O Insurance, it is important to discuss your coverage needs with an insurance professional who has experience working with technology companies. EIFS will be happy to discuss your insurance needs with you and find the best coverage for your company. For more information call us at (631)563-8433 or e-mail us.
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