Tuesday, November 30, 2010

Painting Contractor’s Insurance – Don’t Forget The Workers Compensation Policy

NC Painter’s insurance plans can be found in many different forms. One coverage that every painting company with employees should have is workers compensation. In North Carolina, the law states that if you have fewer than 3 employees you don’t have to purchase workers compensation insurance. But what this rule doesn’t tell you is that not buying a policy could wipe you out.

In NC, the workers compensation rules and regulations are controlled by the NC Rate Bureau. And the rules do give you an out when it comes to buying a workers compensation insurance policy if you have less than 3 employees. In fact, there are no real teeth in the law that will catch and find employers who have 3 or more employees who also don’t purchase a workers compensation insurance policy. So, yeah, you could go years without purchasing a workers compensation policy for your painting business. But that would be a very dangerous choice. Here’s why:

Although the law may not require that you actually purchase a workers compensation insurance policy, it will require that you pay all of the claims yourself just as if you were the insurance company. Workers compensation benefits in North Carolina are statutory and claims are governed by the NC Industrial Commission. That means that exactly how much gets paid for each type of illness or injury has already been determined by state law. Therefore, if you are paying out of your own pocket for a claim, you will not have the opportunity to determine how much you are going to pay. And in the case of a long term disability the amount you might have to pay out is staggering.

So, using the loophole in the law to avoid buying a workers compensation policy only gets you out of paying the policy premium. In fact, it puts you in the unenviable position of being the insurance company and on the hook for all claims. And these claim costs can be enormous. Imagine coming up with $100,000 to pay for injuries that resulted in permanent disability, then paying disability payments for years after that for one of your employees. Pretty scary huh? So even if work comp insurance seems expensive, you should realize that purchasing it is a no brainer because going bare means you are pretending to have the assets of an insurance company. For most painters, that just isn’t the case.

At Clinard Insurance Group in Winston Salem, NC, we specialize in helping painters with their insurance needs. If you have any questions about your general liability insurance, your workers compensation insurance, your business auto insurance or any other insurance policies, please call us toll free at 877-687-7557 or visit us on the web at www.LowRatesForPainters.com.

The source information for this blog can be found in articles located at the blog found at www.InsuranceAnswerGuy.com.

Tuesday, November 16, 2010

Safety Tip - How To Extinguish a Grease Fire In Your Kitchen

As an insurance agent working directly with customers to help them with their home insurance and auto insurance, I see lots of accidents that turn into insurance claims. The most common type of kitchen fire that I see in this business is the fire that is started by grease catching on fire in a pan on the stove. The danger of this kind of fire is often exacerbated by the way people attempt to put it out. This blog will show you a safety tip that you should share with all of your friends and relatives. This knowledge could save a life or at the very least, might save a kitchen or a home from total destruction.

Grease fires are a special type of problem. And the ways in which you approach this fire can make the difference between a small isolated event in your kitchen and the loss of your home and your personal possessions. If you throw water onto a grease fire, the water, which is heavier than the oil, will sink to the bottom, then become superheated and the steam will push its way up and out of the pan. The force of this kind of explosion can be quite stunning and worst of all, this explosion will smear burning oil all over the kitchen from the ceiling to the walls. After this has happened, the best course of action would be to get out of the house and call the fire department.

Often people unknowingly spread misinformation about how to put out a grease fire. These include throwing flour or sugar on a grease fire in a pan. Both of these are very dangerous strategies, in fact it is estimated that throwing one cup of flour or sugar on a burning grease fire in a pan can create an explosion with the force of up to two sticks of dynamite.

Fortunately, there is a simple and low tech solution for putting out this type of fire.

Step 1 – Turn off the heat on the burner.

Step 2 – Rinse a dish towel fully in water and then wring it out.

Step 3 – Carefully place the wet dishtowel over the burning pan of grease and wait for it to cool down.

I have found a short video on youtube that you can watch to see a demonstration of this technique. Please take 30 seconds to watch this short video and then teach this to your children and those you love. This knowledge could save the life of someone you love. To see this 30 second video, please click here.

At Clinard Insurance Group, in Winston Salem, NC, we want all insurance consumers to be informed buyers. But beyond that, we want people to have the safety knowledge that can save lives in an emergency situation. If we can help you with your auto insurance, your home insurance, or your business insurance or life insurance, please call us, toll free, at 877-687-7557 or visit us on the web at www.ClinardInsurance.com.

Source data for this article was pulled from other articles which can be found online by visiting www.InsuranceAnswerGuy.com.

Friday, November 5, 2010

Warning – Before You Shop Your NC Auto Insurance Around…..

We see so many ads on TV today exhorting us to call the 800 number and get an auto insurance quote. Save money they all say. But it’s what they aren’t saying that should be screaming the loudest in your ears. Because what they aren’t saying should warn you not to call them.

Ok, so what is it they are leaving out of the call me now messages? In short, you don’t hear them asking you to call them to save money on your homeowners insurance. And if you live in NC, that is an important distinction. Because in NC, you see, insurance companies are pretty reluctant to write homeowners insurance due to the way the legislature has preloaded the system to protect those with beach properties at the expense of everyone else. If want to read about how this problem developed, please read my blogs on the homeowners insurance crisis Part I and Part II. To better understand how it all turned out, read my blog on house bill 1305. The bill passed by the way.

So what does this mean for you? Well, I can tell you that when someone calls our office and wants us to quote or write only their home insurance, we are left with a diminished marketplace for their protection. Most insurance companies in NC will now not write a homeowners policy without the auto insurance policy to support it. Of course, those that have just their home insurance in place with an insurance company are pretty safe for now. I have not heard of many cases of mass cancellations of standalone homeowners policies in NC at this time. But there has been some activity that comes in the form of consent to rate letters. To learn more about that, read my blog on consent to rate letters in NC.

So this diminished marketplace means higher rates on homeowners policies that are being moved around without the auto policy for support. So, if you take the advice of the ads on TV, and move your auto insurance to a new company to save money, the homeowners policy that you now leave behind, unsupported by your auto policy, might be non renewed at the end of the policy term or you may see dramatically higher rates on that policy at the next renewal.

The hard market for homeowners insurance in our state means that you as an insurance consumer must play your cards carefully when making changes. If your home and auto insurance are with the same company now, then you should be careful to keep these policies together until the homeowners insurance market in NC softens. Separating them can end up costing you a lot more money and grief over time. And it’s not likely that the auto insurance company that is screaming for you to save money on your auto insurance by calling them is going to let you in on that secret. For the most part they would love to take your very profitable (for them) auto insurance and leave behind your more problematic homeowners insurance.

At Clinard Insurance Group in Winston Salem, NC, we take pride in working hard to help every insurance buyer become a better informed consumer. We still have open markets for standalone homeowners insurance but they are closing up over time as the market continues to harden in this area. If you need help with your home insurance, your auto insurance, your business insurance or even your life insurance, I hope you will feel free to call us, toll free, at 877-687-7557 or visit us on the web at www.ClinardInsurance.com.

Source data for this article was pulled from other articles which can be found in their entirety at www.InsuranceAnswerGuy.com.