Workman’s Compensation

Stilts!

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303/668

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Budapest – Liberty bridge repairs

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Robert Cecil (Marquis of Salisbury)

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one more step and the car gets it

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Disability Insurance Vs. Life Insurance – Which Is Better?

I think that most people would agree that the we live in a state of insurance overload in this country. You need insurance to drive a car, you need it to buy a house (at least you do if you want to get a mortgage from a bank!), you need health insurance to cover medical costs… it seems like everywhere you turn there’s more insurance to buy!

It can become overwhelming for most people, but there’s one area of insurance that you don’t want to overlook and it’s an area that most people do overlook. I’m talking about disability and life insurance.

First of all, what are these two things?

Life insurance is simply insurance that pays your family a set amount of money in the case of your early death. If you get hit by a train or fall out of an airplane or laugh too hard during a funny movie and choke on a pretzel and suddenly die, life insurance makes sure that your family is provided for financially and that their standard of living does not decrease just because you’re not around to pay the bills anymore.

Disability insurance is very similar. The only real difference is that it isn’t focused on your death but merely on your disability. This is particularly important if you have a manual labor type job. So if you break your leg and can’t work for six months, that loss of income won’t affect you because your policy will pay out instead.  

Your employer may already have disability insurance as part of your pay package but chances are they don’t. You’re going to need to find out for yourself whether they offer it or not and if they don’t you’ll need to go out and purchase it on your own.

In a perfect world you should have both of these types of insurance to cover your family in case you die or in case you get hurt and can’t work anymore. Of course, we don’t always live in a perfect world and many people choose one or the other… so which one is best?

That’s a question I can’t answer for you, everybody has to answer that themselves. But for myself I would choose disability insurance as the most important if I had a manual labor job that my family relied on for their sole source of income.

If I die, that’s really bad but my wife can either start working herself to make up for lost income, or marry somebody else as crass as that may seem. The point is, they have options.

If on the other hand I lose my eyesight or break a vertebrae in my spine that keeps me from working anymore, then we don’t have that many options. My wife may not be able work because she might have to take care of me full-time and alternatively she wouldn’t be able to marry somebody else because I’d still be around, barring divorce of course. The point is, we have less options and you should always insure the scenario with the fewest options.

Second Term – Room 2

Image taken on 2008-08-27 11:23:18 by cliff1066™.

Buying Workers? Compensation Insurance: Your Policy Has Expired. What Next?

If your workers’ compensation policy has lapsed, don’t panic but do act quickly, because, believe it or not, even just one more day without coverage can make a difference.

First, immediately call your agent or broker and explain your situation.  If this is your first lapse in coverage and the policy expired less than 30 days ago, your agent or broker might be able to reinstate your policy with the incumbent carrier but it’s not a given. 

Whether or not the underwriter is willing to reinstate coverage retroactively to the expiration date may depend on several factors including your payment history and whether you have other policies with the carrier and their payment histories.  Part of the underwriter’s job is to take well-calculated risks.  Lapses in coverage may create the appearance that your company is not an attractive risk or even that your company is struggling financially. 

Placing coverage  with a new carrier following a lapse is more challenging for your agent/broker than replacing coverage with an in-force policy.  An underwriter with the incumbent carrier or a new carrier may require a “no loss letter” from you confirming no new injuries occurred during the lapse.  Full disclosure is important.  Tell your agent or broker about any injuries or work related illnesses occurred during the lapsed period.

Very importantly, take steps to be sure a lapse in your workers’ compensation coverage doesn’t happen again.  You might be given a “free pass” once by an underwriter but if it happens a second time, you’re likely going to be out of luck with that company.  Consider scheduling your payments by EFT (Electronic Funds Transfer) to prevent non-payment or late payment of premium.   If you pay bills online, schedule the payment in ample time to reach your agent/broker or your carrier, including mail delivery times in your area.  Set a date on your calendar to send the payment, or do whatever it takes. 

The consequence of having no workers’ compensation insurance can carry a heavy price.  Beyond being out of compliance with the law, your company continues to be responsible for payment of claims, regardless of whether you have insurance coverage.  (workersxzcompxzkit)

ACTIVELY manage  your insurance policies to be certain they’re all current.   These policies not only provide peace of mind knowing you’ve transferred significant risk to another for a price, but also meet your legal insurance requirements.  

Visit:  http://www.workerscompkit.com/gallagher/QuoteCenter/workers-compensation-insurance.php for more help and information.

Interstate Batteries Atlantic City

Image taken on 2009-09-28 17:40:22 by Hand Truck Sentry System.

Riverside CA Painters Make The Best Choice

If you are looking for a painter in Riverside, CA, look no further. This article goes over what you need to look for in a great painter.

On the things to do list, painting is almost always on there. Everyone could use a nice accent wall, a change of pace or even repainting baseboards to clean them up. Most people think painting is something a “do it yourselfer” can easily do, but I have seen many a crown molding job ruined with a poor paint job. To put it simply, the quality of painting makes or breaks your project.

If you have decided to hire a professional to do the job for you, there are a few things you should look for:

1. How long have they been in business? Have they been around a long time and have many positive references?

2. Are they properly licensed? Do they carry workmans comp and liability insurance? After all, it\’s pretty easy to inhale to many paint fumes and fall off a ladder!

3. Can they offer you a good price?

These are some of the most important things to look for, but there are others of course.

If you get an estimate from someone and they have only been in business for a little while, you might be a little apprehensive to use them. After all, being in business a long time not only shows that they do a good job and have been able to keep business up, but it also means they will know what they are doing!

Proper licensing is very important. In fact, it is required by law. Don\’t try to save a couple bucks by hiring an unlicensed painter. Ever thought of what will happen if they get injured in your home? What if they damage something in your home? It won\’t be good, that\’s for sure!

A good price is important in todays market. In fact, most people only care about the price. This is not the way to look at things. Most of the time, estimates are pretty close in price, so trying to save a couple bucks by going with the cheapest guy is a sure fire way to get a lackluster paint job. Todays painting contractors will give you the best price possible WITHOUT cutting any corners. This means you will get a great paint job for a great price, not a great price and an okay paint job.

If you\’d like to get an estimate from a company thats been in business since 1992 and has even been featured on Extremem Makeover Home Edition, just click the links below.