Online insurance CE classes ~ INSURANCE

Insurance for Your Business

LIABILITY INSURANCE

This is probably the most important element of your insurance program. Liability insurance provides protection from potential
losses resulting from injury or damage to others or their property. Just recall some of the big cash awards you have read about that have resulted from lawsuits concerning liability of one kind or another and you will understand the importance of this insurance. Your insurance agent can describe the various types of liability insurance coverage that are available. If you will end up with a comprehensive general policy, make certain that the general policy does not include items you don't need. Pay for only the insurance you need. For example, your business may not need product liability insurance.

Do not confuse business liability coverage with your personal liability coverage, both of which you need. Your personal coverage will not cover a business-generated liability. Check to be certain.

Compare the costs of different levels of coverage. In some cases a $2 million policy costs only slightly more than a $1 million policy. This economy of scale is true with most forms of insurance coverage. That is, after a certain value, additional insurance becomes very economical.

KEY PERSON INSURANCE

This type of insurance is particularly important for the sole proprietorship or partnership where the loss of one person through illness, accident, or death may render the business inoperative or severely limit its operations. This insurance, although not inexpensive, can provide protection for this situation. Key person insurance might also be necessary for others involved in your business.

SGC was a small firm run by three partners, a software programmer, marketer, and a general manager. Their product was a complex computer program used by aerospace firms. Al, the programmer, was involved in a severe automobile accident, became totally disabled, and SGC lost their programming capability. The problem was that the computer program written by Al was essentially the company's sole product. Modifications to accommodate the customer became impossible and the time to bring another programmer up to speed was excessive. SGC lost considerable business as a result of this situation. These losses could have been offset by key person insurance.

DISABILITY INSURANCE

You, as a business owner, should be covered by disability insurance whether or not you decide on key person insurance. This insurance, along with business-interruption insurance, described below, will help ensure your business will continue to operate in the unfortunate situation where you are unable to work. Your disability insurance policy needs to provide satisfactory coverage. Particular attention should be paid to the definition of "disability," delay time until payments start, when coverage terminates, and adjustments for inflation.

FIRE INSURANCE

Fire insurance, like all insurance is complicated and you should understand what IS and IS NOT covered. For example, a typical fire insurance policy covers the loss of contents but does not cover your losses from the fact that you may be out of business for 2-months while your facility is rebuilt. Fire insurance is mandatory whether you're working out of a home office or you have a separate facility. You should discuss a comprehensive policy with your agent. Take the time to understand the details.

Monday 8 August 2011

Online insurance CE classes

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samina pervaiz

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You can shop, communicate, find any type of information, keep yourself informed about the latest development and entertain yourself without having to move out of your house because of the internet. It can be said that the introduction and the subsequent development of the internet has made peoples life much more comfortable. Another area where the internet can help is education, especially insurance education.

It is a known fact that the laws dealing with insurance education are very stringent and hence it is important that you complete the required certification courses that are required to keep you license intact, on time. Even such states like Texas that are stringent with insurance education approve of these online courses.

Though most states authorize insurance continuing education courses that are completed online, it is better if you are sure about it. After all, the proper completion or the non-completion of the courses affects your insurance license and hence you need to make sure that you are properly informed. The best thing you can do to get all the required information is to either contact a qualified insurance education provider or better yet pay a visit to your state's Department of Insurance where you will be sure to get correct information.

Generally, most people opting for insurance training can find insurance classes and certification courses online. Though most states have restriction about completing pre-license certification online, most allow people to attend online insurance education to keep their license active. Hence, you need to know what courses you are expected to complete so that you can understand what courses you need to opt for online.

Opting for online insurance education is beneficial for all types of people, especially those who are employed full time and have very little spare time. The training courses are designed in such a manner that you can complete the education in your spare time without causing any hindrance to your normal day-to-day activities.

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Monday 8 August 2011

Online insurance CE classes

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