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How Much Workers’ Compensation Coverage Do You Need For Your Business?

Workers’ compensation is a type of insurance that protects not only your business from financial loss, but it is also required by law in most states if you have employees. How much workers’ compensation in Maitland, FL, you will need depends on a number of factors, including state law and your industry.  Professional insurance agencies will be able to help you determine how much you need, but here are some factors to consider.

What Does the State Require?

Texas is the only state that doesn’t mandate that companies provide workers’ compensation for their employees. State laws further require that your workers’ compensation policies be regularly audited to ensure you are paying an appropriate amount for the risk your workers face on the job.

What is the Age of Your Workforce?

The propensity for injury increases with age. Older workers tend to have a harder time proving that their injuries or illnesses happened on the job, given their higher occurrence of pre-existing conditions. It is essential to make sure your employees are educated about their rights and what they are entitled to.

What Risks Do Your Workers Face?

Many factors affect how much workers’ compensation coverage a business owner will need and how much it will cost, including the job risks workers face. With higher levels of risk comes the need for high levels of coverage. These risk factors will determine the cost of your workers’ comp insurance.

bartender making a cocktail

Why Bars Need Liquor Liability Insurance

When customers are under the influence of alcohol, their behavior can be unpredictable. Unforeseen events ranging from rowdiness to fights to injuries, there are plenty of negative incidents that can be sparked by alcohol consumption. Selling alcohol is a lucrative part of any bar or nightclub, and these businesses are smart to protect themselves from incurring liability and lawsuits with liquor liability insurance in Maitland, FL.

Who should carry this policy?

Most states require establishments that sell alcohol, such as bars and restaurants to carry liquor liability insurance. However, many business owners don’t realize that having a general commercial liability policy isn’t the same thing. Liquor liability insurance is typically is added as a policy endorsement. The cost of this add-on will depend on the size of the establishment and the number of persons to be served. Some businesses that require liquor liability insurance but may not be aware of it include:

  • Bars and Taverns
  • Social and fraternal clubs
  • Restaurants
  • Liquor Stores
  • Organizations Where Fundraisers Sell Alcohol
  • Grocery and Convenience S
  • Catering Companies

Remember, this coverage protects bars and nightclubs from being sued for accidents and injuries that intoxicated customers cause after being served at their establishments.  As this behavior is foreseeable, it’s just smart business.

dent in rear bumper of a car

Steps to Take Immediately After a Car Accident

After an accident, you’ll likely feel scared and confused. You might not know what to do, even if you have car insurance in Maitland, FL. Understanding what steps to take beforehand can make a significant difference in the post-accident process. Even if you’re not at fault, there are still precautions to take to ensure everything flows smoothly and that you have all your bases covered.

First Steps

One of the first steps you should take when you’ve been involved in an auto collision is to call the police. Whether it’s a simple fender bender or a major crash, having a police record available to both you and your insurance company means you have access to an accurate account of what occurred.

Another vital part of the process is to exchange insurance information. The damage to your vehicle can be as minor as a scrape or so extensive that your car is totaled. In any instance, having both parties’ insurance on hand allows for each agency to settle things without stressing out the drivers.

Save yourself time and money by making sure you have reliable car insurance from Mike Elliott Insurance Agency, Inc. Our coverage ensures you’re protected in nearly any auto accident. We have your back when you need us most.

woman in neckbrace

Common Causes of Workplace Injuries

Most workplaces maintain proper safety measures. However, when something goes wrong, it can be financially devastating to the business, especially if they do not have workers’ compensation insurance in Maitland, FL. That’s why it is essential to take preventative measures, avoid cutting corners, and take the time necessary to ensure you and your employees are as safe as possible. Here are just a few of the mistakes that can lead to workplace injuries.

Taking Risks Leads to Accidents

When employers take shortcuts to save time or workers get overconfident in their ability to perform their job quickly, the likelihood of accidents grows significantly. Rather than taking unnecessary risks, proprietors are encouraged to enforce strict safety measures to ensure everyone under their supervision is protected.

Additionally, if workers are regularly using heavy machinery or any similar equipment, a lack of maintenance can cause breakdowns. As a result, dangerous consequences can occur and lead to employees getting hurt, lawsuits, or other issues.

Of course, while being proactive is important, it’s also essential to stay prepared for any situation with workers’ compensation insurance. Relying on an agency like Mike Elliott Insurance Agency, Inc. allows you to rest easy knowing you and your employees are safe.

woman driving a commercial truck

Ensure Your Fleet Is Protected with the Right Insurance

When you need auto insurance for a fleet of commercial vehicles, the first thing on your mind is probably affordability. It’s already costly to insure one car; an entire fleet can be daunting. While a budget-friendly rate is ideal, you don’t want to skimp on protection. Here are a few tips for choosing commercial auto insurance in Maitland, FL:

Check Employee Driving Records

While you trust your employee on principle, you have to be mindful about how they drive if they’re in one of your commercial vehicles. Perform a DMV-screening on any potential or existing employees. Having employees with good driving records will keep your premium low.

Buy ‘Hired and Non-Owned Vehicle’ Coverage

A commercial auto policy typically will not cover employees who use their own cars or cars that are rented for travel purposes. Make sure you get this optional coverage package to cover any and all vehicles that you or your employees will potentially drive.

Purchase Higher Limits for Better Protection

While keeping your premiums low is a priority, there’s no more expensive policy than one that doesn’t have sufficient coverage for all situations. Don’t undervalue your employees or the vehicles they drive in order to save a few dollars. It never pays off in the end.

Increase Your Deductible

If you are confident in your employees, you could choose a higher deductible for your commercial auto insurance policy. The higher the deductible, the lower the premium, but you will be on the line to pay that money upfront should anything happen to the vehicle and its driver.

woman buying a car at a dealership

How Financing a Car Can Affect Your Auto Insurance

One common question many new car owners have is whether financing their vehicle will affect their car insurance in Maitland, FL. More specifically, individuals want to know if financing a car will make the rate go up. The short answer is possibly, but it can vary from person to person and policy to policy.

One major thing to remember is that when financing a vehicle, you’re agreeing to work with a lender. Lenders require you to have full coverage for the vehicle throughout the payment structure. If you currently have partial coverage or liability coverage, then you’ll need to update your policy — and yes that means paying a little more each month.

Please also bear in mind that a lender will not agree to reduced coverage rates during months you’re not using the vehicle. Reduced coverage typically applies to people who only use a car seasonally or are not actively driving it due to being overseas for several months. Even if this is typical for you, you’ll be responsible for full coverage whether you’re using the car or not.

Lastly, if you’re upgrading to a newer model car, know that the coverage options for that vehicle may differ. If your previous car didn’t have lane assist cameras, but your new one does, your car insurance policy may need to be adjusted to cover the new technology. On the bright side, if the technology is proven to help save you from accidents, you may see reductions in your policy rate from your insurance company at some point in the future.

teen driver leaning out the window of a car

Adding Your Child to Your Car Insurance

When your child earns their driver’s license, it’s time to celebrate. They have reached a life milestone that is paving the way to new opportunities. Of course, after the initial high wears off, it’s back to considering the looming reality: your son or daughter will now be sharing the road with others.  You’ve done all you can to teach the critical driving and safety skills to your son or daughter. Now, it’s time to consider car insurance in Maitland, FL.

When considering insurance for your teen, you may wonder if you should add them to your existing policy or start a completely new one. The answer isn’t clear-cut, and you can go either way. Keeping your child on your policy may raise your rates, but you may also be eligible for multiple discounts. You will want to speak to your insurance agent to find out if you qualify for anything.

Why would your insurance rates increase? Inexperience and youth make teens more of a liability on the road. If there’s one thing insurers are wary of, it’s that combination. New and inexperienced drivers are more likely to make mistakes, which increases the risks of accidents.

While it may feel a bit prejudiced to start with a higher rate on account of age, there is a silver lining to it. Many car insurance policies provide “Safe Driver” discounts if the policyholder has a clean driving record for a set amount of time. Again, you will want to check with your agent to see if your policy has this provision.

small business owner in his cafe

Why Small Businesses Need Workers’ Compensation Insurance

The state of Florida requires employers to provide workers’ compensation coverage. These measures are taken to ensure workers in the state have the protections and resources they need to ensure a speedy and meaningful recovery. As a small business owner, it is important to understand that you are expected to provide coverage in case one of your workers is injured or gets sick on the job. In this post, we will discuss why your organization requires workers’ compensation in Maitland, FL.

One of the most popular ways to provide workers’ compensation is through insurance. Specialized policies geared towards employee protections are a great way to reimburse employees for doctor’s visits and related services. Taking out an insurance policy for your company is also a smart investment. It helps reduce your organization’s out-of-pocket expenses and can protect your bottom line.

Another way that worker’s compensation insurance helps you and your employees is that it can also reduce the likelihood of legal repercussions. Getting injured or sick on the job is something no worker wants. If you do not provide a means for your employees to get help in the wake of an accident, they may sue you for negligence. The repercussions are many, including a tarnished reputation, a demoralized workforce, and a damaged revenue outlook.

By investing in workers’ compensation, you are doing more than observing regulations–you are also demonstrating to your employees that you are on their side. By teaming up with an experienced insurance agent, you can take out a policy that fits the needs of your workers.

car keys

Extenuating Circumstances Where You Still Need Insurance

Keeping up with your car insurance in Maitland, FL, is important — sometimes even when you don’t expect it to be. If you’re considering dropping a policy because it doesn’t seem worth the cost, you might not have the full picture. Even in seemingly unrelated situations, having coverage can prove vital. Let’s take a look at a few:

I Don’t Own a Car — Not having a vehicle doesn’t always keep you from needing car insurance. If you plan on driving someone else’s, you’ll still need liability coverage. Even taxi-takers might need medical plans for car accidents. Plus, letting your policy lapse can mean higher rates if you need to get coverage again in the future, so it’s always better, in the long run, to keep your savings if you’ll only be out of a vehicle for a few months.

I Lease My Car — Even if you lease a vehicle, you still need proper coverage. You might not own your ride, but you’re still responsible for damages done while driving it. In fact, you’ll probably have to get full coverage before you can sign the lease.

I’m in the Military — While active-duty military members are not required to have car insurance while overseas, any family vehicles back in the states will need coverage.

teen driver

Tips for Getting Car Insurance for Your Teen

As your teen approaches driving age, there’s more to consider than getting a license. Before they can hit the road, they’ll need the right coverage for any potential dings, scrapes, or other accidents along the way. Of course, getting car insurance in Maitland, FL, is a little different for a first-time driver. It can pay to plan ahead and know what you’re in for when you shop. That’s why we’ve put together a few tips for parents and guardians:

Join an Existing Policy — Opening an entirely new policy means getting insurance from a company with no prior history to base their pricing on. They’ll likely consider first-time drivers “high-risk,” and stick you with a pretty beefy premium. Instead, try adding your teen to an existing policy, where you can use your own record and customer clout to save a little on your monthly rate.

Teach Safe Driving — Some insurance companies offer discounts for driving schools and certification programs. Even if yours doesn’t, safe driving pays off with rate decreases over time.

Shop Around — Compare prices at different providers to make sure you get the best deal. An agent can do a lot of the hard work here for you, saving time and using their expert knowledge to find you the best car insurance policy.