How Restaurant Insurance Changes for Outdoor Dining in the Summer

Summertime presents a unique opportunity for restaurant owners to diversify their operations and enhance their customers' dining experiences as the sun shines brighter and temperatures rise. One increasingly popular way of doing this is by expanding dining services outdoors. Outdoor dining can help restaurants accommodate more customers and offer an appealing, open-air dining experience that attracts a crowd eager to enjoy the season's pleasant weather.

However, along with the unique charm and potential profits of outdoor dining come unique challenges and risks. It requires careful planning, from reconfiguring your space to meet safety standards, to adjusting your operations to handle an increase in customer flow. Among the most crucial considerations is the change in insurance needs. Extending your services outdoors could present a new set of risks and liabilities that your current insurance policy may not adequately cover.

Let's look at a few of these considerations, highlighting how your restaurant insurance needs may change with the introduction of outdoor dining in the summer. We'll begin by understanding the coverage of your current restaurant insurance policy, then delve into the specific implications of outdoor dining on various types of insurance, and finally explore additional coverage options to consider.

Understanding Your Current Restaurant Insurance Policy

Before considering the changes that outdoor dining may bring to your restaurant's insurance needs, it's important to understand what your existing policy covers. This will serve as your foundation in identifying any potential gaps that might be exposed by extending your operations outside.

In this section, we will explore the core components of a typical restaurant insurance policy and discuss whether they can adequately cover outdoor dining.

Basic Coverage of Your Current Policy

The first step is to understand what your current restaurant insurance policy covers. Typically, it includes general liability insurance, property insurance, and workers' compensation. These protections may not be sufficient when you extend your operations outdoors.

Does Your Current Policy Cover Outdoor Dining?

Review your existing policy to see if it covers outdoor dining. If it doesn't, you may need to extend your coverage. Outdoor dining introduces new risks that may not be covered under standard restaurant insurance, such as accidents that occur in your outdoor dining area.

Insurance Implications of Outdoor Dining

Switching to or incorporating outdoor dining during the summer months can significantly change the risk landscape for your restaurant. From increased general liability concerns to property and liquor liability adjustments, there are several insurance aspects that need careful consideration.

In this section, we'll delve into these implications, providing insights on ensuring you're adequately covered for the unique risks associated with outdoor dining.

General Liability Insurance

With outdoor dining, there's an increased risk of accidents. Customers might trip over uneven ground or get injured by falling umbrellas. Extended general liability insurance can cover any bodily injury or property damage suffered by customers in your outdoor dining area.

Property Insurance

Outdoor furniture, décor, and equipment are exposed to different risks, including theft and weather-related damages. Ensure that your property insurance covers these items and consider whether you need additional coverage.

Liquor Liability Insurance

If your restaurant serves alcohol and extends this service to your outdoor dining area, you need to review your liquor liability insurance. This coverage protects you if a customer causes damage or injury after consuming alcohol at your establishment.

Workers' Compensation Insurance

With outdoor dining, staff may be required to navigate different terrains, potentially increasing the risk of workplace accidents. Review your workers' compensation insurance to ensure it adequately covers your employees.

Additional Coverage to Consider

While standard restaurant insurance can provide significant protection, introducing outdoor dining might necessitate further coverage. These additional insurance options can help safeguard your establishment against the risks of outdoor operations.

Let's explore some types of insurance that you may need to consider for the comprehensive protection of your summer outdoor dining business.

Commercial Umbrella Insurance

Commercial umbrella insurance can provide additional liability coverage beyond your standard policies' limits. This can be beneficial if a lawsuit exceeds your general liability coverage limits or other liability policies.

Business Interruption Insurance

Summer weather can be unpredictable, and severe weather could temporarily shut down your outdoor dining area. Business interruption insurance can cover the loss of income during this period.

Special Event Coverage

Special event coverage may be necessary for hosting special events in your outdoor space, such as live music or parties. This insurance covers injuries or property damage that may occur during these events.

Key Takeaways

The summer season presents a beautiful opportunity for restaurant owners to extend their services outdoors, enhancing customer experiences and potentially boosting revenue. However, along with the change in the dining environment, new risks and exposures need to be adequately covered by insurance.

Whether it's extending your general liability insurance, ensuring your property insurance covers outdoor assets, or considering additional coverage like a commercial umbrella or business interruption insurance, every aspect plays a vital role in safeguarding your establishment. Reviewing your workers' compensation and liquor liability coverage if applicable, is crucial.

If the process feels overwhelming, remember that working with an insurance agent can make it easier. They can provide expert guidance tailored to your restaurant's unique needs, helping you navigate through the options and ensuring your outdoor dining venture is well-protected.

by Keller Insurance Services

Unlock the Secrets of Workers' Compensation in New Jersey!

Do you need to know about workers' compensation in New Jersey? If so, check out this all-inclusive article to learn how to file a claim, what penalties you may face if you don't have insurance, and even how much it can cost.

So let's dive right into our comprehensive guide of workers' compensation policies in New Jersey.

What is Workers' Compensation?

Workers' compensation is a type of insurance that provides benefits to employees who are injured or become ill while on the job. The policy covers medical expenses, lost wages due to time off work for recovery, and any other costs associated with the injury or illness. It also protects employers from being sued by their employees if they suffer an injury at work.

Additionally, employers must provide workers’ compensation coverage if they have one or more employees, even if they only have part-time or seasonal workers.

Who is Covered by Workers' Compensation?

In New Jersey, all employers are required to provide workers' compensation coverage for their employees regardless of size or industry. This includes part-time and temporary workers as well as independent contractors who perform services under contract with the employer in question.

Additionally, family members employed by the business may be covered depending on certain criteria such as hours worked per week and whether they receive paychecks from the company itself rather than through another entity like a payroll service provider.

How to File a Claim for Workers' Compensation in New Jersey

Filing a claim for workers' compensation in New Jersey can be an intimidating process. It’s important to understand the steps and documents needed, as well as the timeframe for filing.

Steps to Filing a Claim

The first step is to notify your employer of any work-related injury or illness within 30 days of its occurrence. You must then fill out Form WC-14, which is available on the NJ Department of Labor website.

After submitting this form, your employer will have seven days to file it with their insurance carrier or self-insured fund. Once that has been done, you should receive notification from either the insurance company or self-insured fund about whether your claim was accepted or denied within 21 days of submission.

Timeframe for Filing a Claim

In order to ensure that you are eligible for benefits under New Jersey law, it is important that you follow all deadlines when filing a claim for workers' compensation. This includes notifying your employer within 30 days of any work related injury or illness and submitting Form WC-14 within two years of the date of injury/illness (or death). If these deadlines are not met, then you may be ineligible for benefits under state law.

Documents Needed To File A Claim

When filing a claim with either an insurance company or self insured fund in New Jersey, there are certain documents required by law including medical reports from treating physicians, proof of wages, and other documentation such as accident reports and witness statements if applicable.

What Are the Penalties for Not Having Workers' Compensation Insurance in New Jersey?

When it comes to workers' compensation insurance in New Jersey, employers must comply with the law or face serious consequences. Failing to have this type of coverage can result in civil and criminal penalties, as well as other negative outcomes.

Civil Penalties for Noncompliance with NJ Laws

Employers who do not carry workers' compensation insurance may be subject to fines of up to $5,000 per employee that is not covered by a policy. In addition, they may also be required to pay any medical bills incurred by an injured worker due to their negligence.

Furthermore, if an employer fails to provide proof of coverage when requested by the state’s Department of Labor and Workforce Development (DLWD), they could face additional fines that may increase every day until such proof is provided.

Criminal Penalties for Noncompliance with NJ Laws

If an employer willfully violates the laws regarding workers' compensation insurance in New Jersey, they could be charged with a fourth-degree crime which carries a potential sentence of up 18 months imprisonment and/or fines up to $10,000 depending on the circumstances surrounding the case.

Additionally companies who don’t comply will likely experience difficulty attracting quality talent since most job seekers prefer organizations that demonstrate commitment towards providing safe working conditions through adequate benefits packages like those offered through workers' comp policies.

Keep in mind that having proper workers' comp coverage isn't just about avoiding hefty fines or jail time, but also about taking care of your employees - something every business should strive towards.

How Much Does it Cost to Get Workers' Compensation Insurance in New Jersey?

Workers' compensation insurance is a must-have for employers in New Jersey, but it can be expensive. The cost of coverage depends on several factors, including the size and type of business, the number of employees, and the amount of risk associated with their work.

Factors that Affect the Cost of Coverage

Businesses are assigned an experience rating based on past claims history, affecting their workers' compensation premium rates.

Additionally, businesses with higher payrolls or more hazardous occupations will typically pay more for coverage than those with lower payrolls or less hazardous occupations. Other factors such as safety programs and claim management practices may also affect premiums.

Average Cost of Coverage in NJ

According to recent studies conducted by the National Council on Compensation Insurance (NCCI), New Jersey employers can expect to pay an average annual premium rate ranging from $1 per $100 in payroll depending on industry classification codes and other variables. This means that a business with a total annual payroll of $500,000 could end up paying anywhere between $5,000-$10,000 annually for workers' compensation insurance coverage.

FAQs in Relation to Workers' Compensation New Jersey

Is Workers' Compensation Required in New Jersey?

Yes, workers' compensation is required in New Jersey.

Employers with one or more employees must have a valid workers' compensation insurance policy in place to cover their employees for any work-related injuries or illnesses. This includes full-time, part-time, and seasonal employees as well as independent contractors and subcontractors who are not exempt from the law. Failure to comply can result in significant fines and penalties for employers.

How Do I Get Workers' Comp in NJ?

To get workers' comp in NJ, you must purchase a policy from an authorized insurer that meets the state's requirements. You will need to provide information about your business, such as payroll data and the number of employees when applying for coverage.

Then, your insurer will determine the cost of the policy based on this information. Once purchased, you'll be able to file claims with your insurer if any of your employees become injured or ill while working for you.

Conclusion

Workers' compensation in New Jersey is an important form of insurance for business owners. It can be a costly endeavor to get the coverage you need, but it's worth it when considering the potential penalties for not having it. Knowing what your rights are as an employee or employer will help ensure that everyone is taken care of if something goes wrong on the job.

Are you looking for a reliable and experienced insurance agency to help protect your business with workers' compensation in New Jersey?

Keller Insurance Services is the perfect solution! Our team of experts will work closely with you to ensure that all of your needs are met, while also providing competitive rates. With our comprehensive coverage options, we guarantee that you won't find better protection elsewhere. Contact us today and let's get started on protecting your business now!

by Keller Insurance Services

When and Why Should I Purchase Bond Insurance

When a business is said to be "bonded," it means that the company has obtained a surety bond. A surety bond is a financial guarantee that protects the customer from losses incurred as a result of the business's poor performance.

So when would your business need bond insurance, and why exactly should you purchase it? Keep reading to learn this and more.

What Is Bond Insurance?

Bond insurance protects investors from the risk of a bond issuer defaulting on interest or principal payments. Instead, the bond issuer purchases the insurance policy, and the premium is paid out of the bond sale proceeds.

Bond insurance was originally designed to protect investors in case of a corporate default. However, the coverage has since expanded to include other types of bonds, such as municipal bonds and asset-backed securities.

Investors often view bonds with insurance as being less risky than bonds without insurance because they know that if the issuer defaults, they will still receive their interest and principal payments. This can make it easier for issuers to sell their bonds, as investors are more likely to purchase them.

A few different bond insurance policies are available, which can confuse business owners. In addition, each bond insurance policy comes with its own set of benefits and drawbacks.

The Most Common Types Of Bond Insurance

Credit Enhancement Bonds

Credit enhancement involves adding a third party to the bond agreement, which agrees to make payments in the event of a default. The most common type of credit enhancement is a letter of credit, which a bank provides.

Credit enhancement works by transferring the credit risk associated with a bond from the issuer to the insurer. This type of policy can help lower the interest rates on the bond and make it more attractive to potential investors.

Surety Bonds

Another type of bond insurance is known as suretyship. This type of policy protects the bondholder from loss if the issuer defaults on its obligations.

A surety bond is a three-party agreement between the obligee, the principal, and the surety (the insurance company). The surety agrees to pay the obligee if the principal cannot meet their obligations.

Suretyship policies can be primary or secondary. Primary suretyship policies provide protection in case of a default, while secondary suretyship policies only come into effect if the primary insurer cannot meet its obligations.

Financial Guarantee Bonds

A financial guarantee bond is a three-party agreement between the obligee, the principal, and the insurer. The insurer agrees to pay the obligee if the principal defaults on a loan or contract.

Financial guarantee insurance is purchased from an insurance company and pays out in the event of a default. Financial guarantee insurance is more expensive than credit enhancement, but it provides greater protection for investors.

Fidelity Bonds

A fidelity bond is a two-party agreement between the principal and the insurer. For example, the insurer agrees to pay the principal if an employee causes financial loss because of theft or dishonesty.

Who Needs Bond Insurance?

Most businesses need a bond, whether it's for a construction project or to get licensed and insured. There are three primary types of commercial bonds:

• License and permit bonds
• Contract bonds
• Court bonds

Each type of bond has a specific purpose, but they all essentially work to protect the obligee—the entity that requires the bond—from financial loss if the principal (the person or company who purchases the bond) cannot uphold their obligations.

When To Purchase Bond Insurance?

Most businesses will need to purchase bond insurance at some point, however it's important to note that not all businesses are required to have bond insurance. Whether you need it will depend on your industry and the laws in your state. However, even if bond insurance isn't required, there are still many benefits to having it.

Some of the most common reasons businesses purchase bond insurance include the following.

To Get Licensed and Insured

In many industries, you need to be both licensed and insured before you can legally operate. Therefore, bond insurance is often required as part of the licensing process.

To Protect Against Financial Loss

If you're working on a project with high risk, bond insurance can protect you from financial loss if something goes wrong.

To Attract New Customers

Having bond insurance can make your business more attractive to potential customers in some industries.

To Improve Your Business' Reputation

Having bond insurance shows that you're a responsible business owner who takes precautions to protect yourself and your customers.

Purchasing Bond Insurance

If you're considering purchasing bond insurance and would like to learn more, your best option is to work with a reputable insurance agency. Keller Insurance Services is adept at securing bond insurance policies for businesses, and would be happy to do so for your business.

To learn more about being bonded and insured, visit this blog post.

by Keller Insurance Services

The Ins and Outs of Purchasing Commercial Insurance

If you run a small business, whether online or out of a traditional brick-and-mortar store, you need commercial insurance to ensure you're fully protected from an array of unexpected problems. However, we understand this process can seem complicated, especially for new and smaller businesses that do not have as much experience.

In this guide, we will walk through the ins and outs of purchasing commercial insurance to help you find the optimal policy and coverage for your needs.

What Is Commercial Insurance?

Commercial insurance is designed to protect the enterprise, owner, and employees. It's a broad term and covers a plethora of policies, which is why it’s important to know the specific insurance your business needs.

Why Is Commercial Insurance Important?

Commercial insurance is an essential component of setting up a business. By obtaining this insurance, business owners can enjoy the crucial peace of mind that their company and their employees are protected.

The primary benefits of commercial insurance are how it will provide essential protection from common business emergencies. These can include property damage or theft, liability, and employee or customer injuries. Depending on the type of commercial insurance you select, the scope can be even wider and can cover cybersecurity, auto insurance, and bond insurance.

When to Get Commercial Insurance

Every business should have commercial insurance. It is always better to get this insurance as soon as possible, but there may be some specific scenarios when it is even more vital.

The most common times to ensure you have the correct form of commercial insurance for your business include:

• Policy renewal
• Hiring or laying off employees
• Business relocation
• New equipment purchase
• New products or services
• Significant increase or decrease in income

Business owners should also know the best time to get commercial insurance. The general rule is the best time to get this insurance was when you started your business, but if you haven’t done this, the second-best time is now. Depending on your situation, there are several key moments where commercial insurance makes the most sense. These are:

• Knowing which month you want your policy renewed (the holidays or the start of the next fiscal year)
• Consider which time of the fiscal year is most appropriate for purchasing insurance (new product launches, etc.)
• Varied cash flow occasions (how much of your budget you can assign to insurance policies)

What to Know When Purchasing Commercial Insurance

Knowing how to get business insurance will increase confidence in your business and give you and your employees the peace of mind they need.

When selecting the right commercial insurance, there is a simple four-step process to follow that will help you identify the best type of insurance and the most suitable insurance company for your company’s needs.

Evaluate Your Risks

Risk evaluation allows you to outline and highlight the most common hazards and risk factors within your small business. The scope of these risks depends on your business. A construction business will pose more risks than a small business that operates from home and does most of its business online. However, this isn’t to say that online businesses still do not encounter threats, with cybersecurity issues being a potential risk.

When evaluating your risks, consider what liabilities the business could be prone to. Think about how and where you operate and whether you have any employees, as they will need coverage, too. A physical store is more likely to experience property damage than your home-based business, while manufacturing defects could increase the risk of a lawsuit.

Once you have determined these risks, you can look at which type of commercial insurance is right for you.

Shop Around

You should never rush to pick the first policy you come across. Shopping around gives you the chance to get quotes and consider which services at what price are most beneficial. It can be overwhelming for small businesses, so consider using an insurance broker or marketplace to get an aggregation of the best deals for you.

If you are confident that you know what you want, contacting a company, such as Keller Insurance Services, directly will help you speed up the process.

Compare and Determine What’s Best for Your Business

Once you have a shortlist of commercial insurance options and quotes, it’s time to decide which policy is best for your business. There are several factors to consider when choosing the right policy.

These factors include:

• The overall policy coverage
• The liability limits
• The premiums and deductible
• Payment options
• The overall company rating

Don't select the highest-rated company or cheapest quote blindly. While it can be a good place to begin, you may be better off by selecting a commercial insurance company that specializes in your industry or has specific qualities that will benefit you. It may also be possible to bundle multiple coverage policies together, which can lower your premium.

Purchase Your Policy

The last step of the process involves completing and purchasing your policy. Depending on the company you chose, you may have an array of options regarding payment frequency, so decide if you want to pay the entire cost of the policy course (usually a year) upfront or if you prefer to pay month-by-month.

You should also discover how to file a claim when needed, as this will save time if your business ever encounters issues, such as property damage or liability. The quicker you can make a claim, the sooner you will solve any problems.

The company may put you in touch with a designated agent who you will work with throughout the duration of your policy, so get to know them and send questions you have before you complete your purchase.

Summary

Keller Insurance Services offers a wide range of commercial insurance options for businesses operating in New Jersey. If you want to learn more about how we can help ensure full coverage for your organization, contact us today to speak to one of our agents.

by Keller Insurance Services

How Group Health Insurance Helps Businesses

Most successful businesses offer their employees' health insurance. However, they might not always be doing it the best way. The solution to this is group health insurance plans.

Group health insurance plans help to keep costs down while also providing owners with more flexibility. In this post, we ask what group health insurance is and how it can help companies get closer to their goals.

What Is Group Health Insurance?

Group health insurance plans provide coverage to a group of employees or members of an organization. The individual cost of each policyholder is lower because the insurer can spread risk over everyone. While it is likely that one employee may end up in bad shape health-wise every year, it is unlikely that ten will, allowing insurance companies to keep costs low.

How Group Health Insurance Works

Employees cannot buy group health insurance policies individually. Instead, they sign up to insurance plans managed by their employers. Most require at least 70 percent participation to be valid. There are many types of plans, terms and conditions, and no two are ever the same.

Once an organization or company sets up group health insurance, it’s then up to individual members to decide whether they want to accept the policy. Naturally, most workers will accept it, as it's a valuable perk.

Plans come in tiers, like regular health insurance products. Basic health coverage provides coverage for all essentials, such as things patients need to overcome diseases, while premium insurance may add cosmetic procedures or experimental treatments.

Some plans may also extend health insurance coverage to the worker’s family, including their spouse and children up to a certain age. This feature may be a standard element of the policy, or an add-on.

Benefits of Group Health Insurance

There are many ways group health insurance plans can benefit businesses. These include:

Improve Morale and Productivity

Working for a company that doesn’t provide adequate health insurance can be a depressing experience for many workers. They’d like to believe that their employer cares about them enough to offer coverage, but sometimes they don’t.

Offering group health insurance improves employee relations. With health coverage, employees can’t say that you don’t care about their wellbeing. In fact, you’re proving that they matter to you while also giving them peace of mind.

Keep Quality Workers

With the great resignation in full swing, holding on to your best workers is more challenging than it ever was in the past. Everyone these days believes that the grass is greener on the other side (even if it isn’t).

In a job market like this, whether you offer health insurance is a big deal. Companies that offer health insurance are often seen as much more desirable by employees than those that don’t. It means that workers don’t have to pay out of pocket for their own health insurance, which is often much more expensive individually.

Keep Costs Down

As mentioned above, paying for employee health insurance individually is expensive, but when firms group workers together into a single policy, it becomes much cheaper. Insurers charge lower premiums because the risk is more predictable. Even if one employee has some dreadful chronic disease that requires constant medical attention, the chances of something similar happening for the rest is low.

Sometimes, insurers can lower their costs further through health management organizations (HMOs). These entities create contracts with insurers to provide a certain level of care to members. The benefit is lower prices, but the downside is that employees may have less choice over their care and which doctor they choose.

Organizations that want to offer their members more choice might want to opt for preferred provider organizations (PPOs). These give patients more options for the medical care they receive, but the price is higher.

Secure Your Company for The Future

Most business experts recommend companies get established first before offering their employees group health insurance. This avoids paying out high premiums and running down your capital too quickly.

However, if you operate a more established brand, then getting group health insurance can actually help you survive over the long-term. Businesses should aim to hold on to their best and most knowledgeable people, and health coverage can help achieve that. It's harder for people to jump ship when they already have the benefits that they need.

How Much Does Group Health Insurance Cost?

Group health insurance is expensive, but it costs considerably less individually than what an employee would pay in premiums otherwise.

The average cost of a group health insurance policy is $7,400 per member per year. Employers foot 80% of the bill, on average, with employees contributing the rest.

What Does Group Health Insurance Provide?

Group health insurance provides many of the same benefits to organization members as conventional health insurance. Policies typically cover regular medical care plus dental, vision and pharmacy services. Sometimes, you pay for these add-ons separately, but most insurers will include them in a bundle.

How Many Employees Do You Need To Qualify For Group Medical Cover?

You don’t need to be a big business to qualify for group medical insurance. Most insurers will cover firms with over one employee. Therefore, even if there are only two of you, you can still get a group insurance policy, and then expand it as you hire more people to your firm.

The size of your business depends on the type of plan you’re on. Coverage tends to become more comprehensive as the number of people on the policy goes up. For instance, insurers might offer a low level of coverage for organizations with fewer than ten members, but much more coverage for those with more than that. As a business leader, it’s up to you to read policy documents and decide which is best for your firm.

For more information on best insurance practices for your business, visit our blog.

by Keller Insurance Services

What Insurance Do Electricians Need?

An electrician is a role that is essential for society to work as it does. On a day-to-day basis, the vast majority of people rely on electricity to help them lead productive and comfortable lives. From lighting to electrical kitchen appliances, electric showers, electric heating, personal care appliances, entertainment devices and even electric vehicles, we rely on electricity to power many facets of our lives.

Now, of course, sometimes issues arise with electric supplies or electrically powered items that require a professional’s help. This is where electricians come in.

To become an electrician, lots of training is required, as it’s a dangerous job that needs to be completed to a high standard not only for your own safety, but for the safety of anyone who later interacts with your work afterwards. Once your training is complete, you still need to invest in insurance that will cover you, your work, and anyone who might work for you. This will help to protect you against any costs that can result from mistakes, errors, or other problems in your professional life.

It’s important that you know which types of insurance you need for your trade in order to choose the right insurance policy, so here’s some more information regarding what insurance electricians in NJ need.

The Importance of Insurance

Insurance is essential for anyone working in a trade, especially one that is as potentially dangerous as electrical work. There are many things that can go wrong in trade related jobs - ranging from harm coming to yourself to others experiencing harm because of your work. Since electrical faults can cause major damage, they can lead to large claims, which would be impossible for you to pay personally.

Insurance will protect you and your customers or clients.

General Liability Insurance

Let’s start with one of the absolute essentials with electrician’s insurance. The NJ Board of Electrical Contractors requires electricians to take out general liability insurance covering a minimum value of $300,000.

If you haven’t heard of liability insurance before, it is a type of insurance that will provide you with protection against claims resulting from injuries and damage to other people or property. If you carry out electrical work that harms someone physically or mentally, or damages their property, because of error or other problems, having a good liability insurance policy will ensure that you don’t personally have to cover the legal costs and payouts that will follow.

Of course, it’s important to remember that intentional damage and contractual liabilities are not usually covered in liability insurance policies. The policy will also usually pay the third party directly, rather than you receiving the payout and passing it on.

Of course, you probably don’t want to stick with the absolute minimum. When it comes down to it, most contractors take out higher coverage, as there isn’t an enormous difference in cost between you covering yourself to the sum of $300,000 and covering yourself for the sum of $500,000 or even $1,000,000.

It’s important that you look for quotes that really suit your needs and protect you against potential claims in worst-case scenarios.

Workers' Compensation Insurance

If you have any staff working for you, workers' compensation insurance is also going to be essential. As we’ve already established, being an electrician is dangerous work. As an employer, you will be legally obligated to ensure that your workplaces are safe and that your workers are safe while doing their job.

Unfortunately, no matter how careful you may be, accidents do sometimes occur. Therefore, you need to take out workers' compensation insurance.

This type of insurance policy has two main purposes. The first is that it ensures that your workers can get any medical care they need without worrying about the cost and that they receive compensation for a portion of the income they lose while they cannot return to work.

It will also protect you from any lawsuits from workers who have experienced any form of injury while working. The insurance will cover the compensation and payout if things get to this stage, rather than you having to pay the money yourself.

It’s important to remember that workers will receive benefits regardless of who was at fault in the accident and that if a worker dies while working, workers' compensation will also provide death benefits for the worker’s dependents. The rules regarding worker’s compensation vary from state to state.

The State of New Jersey passed its workers’ compensation law in 1911, making coverage mandatory for all employers. Workers’ compensation in NJ should cover:

• Medical Treatment - To help injured workers receive the medical care they need and recover. New Jersey law gives you or your insurance company the right to choose the healthcare provider for treatment.
• Lost Wages - To ensure that workers can financially afford the time off required to recover.
• Ongoing Medical Care Costs - Including physical therapy or surgeries.
• Temporary Total Disability Benefits - If your employee can’t work for over seven days.
• Permanent Partial Disability Benefits - Dependent on the type and severity of your employee’s injury.
• Permanent Total Disability Benefits - If your employee lost two major body parts or can’t work at all.
• Death Benefits - Such as funeral costs if your employee died because of a work-related incident.

These are just two types of insurance that you will need to consider if you’re undertaking work as an electrician. Keep them in mind, do some research and find the right provider to meet your needs. It’s essential that you do this and find the right policy before taking on any electrical work.

by Keller Insurance Services

Purchasing Insurance for Your Trade: What Do You Need?

Purchasing insurance can be a minefield if you haven't had to purchase it for your trade before. Whether you are an electrician or plumber, builder or carpenter, if you are working for yourself in a trade, you need to have the right insurance to ensure that both you and your customers are covered when you are working for them.

If you are a sole trader, you will be a self-employed individual that is running a business with a sole trader's legal structure. This means you handle all earnings and losses, but it also means that you are responsible for insuring yourself and your business.

Why Do You Need Insurance?

In an industry that’s littered with potential lawsuits, you need to protect yourself and your customers. To do that, you need insurance. When you are purchasing insurance for your trade, you need to ensure that you are buying the right policies. The world is not without risk, and as someone working for themselves, you are responsible when disaster strikes.

Insurance helps to protect you against a range of issues that can pop up at any point. There are hundreds of reasons that you need to have insurance, such as anything from a damaging natural disaster to business theft. You need to be covered so that you don't lose out if you were to be sued. You could lose profits if legal liabilities are unfulfilled, especially for a business dealing with expensive equipment and items.

Without insurance, you could lose out on clients, too. Most clients require a sole trader to have insurance to cover both themselves and the business itself. There are even some contractual obligations stating that sole traders must be insured before business deals begin.

If you’re renting a business facility, insurance is something you should get even if your landlord has insurance for the premises. Your contents insurance will be your responsibility.

Having the right insurance can make a difference between you being a success, and your business losing everything because of an injury, act of God, or a lawsuit brought about by an unhappy customer.

What Insurance Do I Need?

As a sole trader, you will need a range of insurance policies to cover you from many risks. These include:

Professional Indemnity Insurance

This is the type of business insurance that will protect you against any third party claims. If there is a breach of professional duty or you do not fulfill your responsibilities that are covered by the contract you have or the work you’ve agreed to do, you could face action. When you have professional indemnity insurance in place, you will be able to better defend your business and prevent financial losses where possible.

Public Liability Insurance

You might not think you need this, but given that your work is in a trade, what you do can directly affect the public or your client. Using this, you can protect your business against claims for injury, damage, and other issues that are caused by your job or your business.

You don't have to be in a fixed office to need public liability insurance, because if an accident happens, and an injury occurs relating to your workplace, you could be accountable for it.

Accident & Illness Cover

As a sole trader, you have the awful downside of don't work, don't earn. If you don't work for a day, you will lose the money for it. With the right accident and illness coverage, you can avoid losing out just because you need to take sick days. With the pandemic, this is even more important than it ever has been and you deserve coverage. You should check with your insurance provider whether they offer this level of insurance and if so, you won’t have to lose your income because of an accident or illness.

Equipment & Tools Cover

As a tradesperson, you’ll be using a vehicle to get around, along with specific tools to ensure that a job is done quickly and correctly. You must protect these assets because without them, you won’t have a job. Your equipment is just as much at risk of theft and damage as any other business, and when you are on the road and traveling between jobs, you need to know that you have everything covered as much as possible.

You also want to ensure that your equipment and tools are under coverage too, because you need to know that you can come back from burglary. Insurance will then pay out if you have your tools stolen, and it also protects against things like fire damage, violent entry to your vehicle, vehicle collision and more.

Choosing The Right Provider

Choosing the right insurance provider is vital if you want to make sure that you are fully covered for the right price. Insurance may be an extra business cost to factor in, but without it, something damaging could leave you even further out of pocket. You're going to want to avoid this if you can.

Your business is best protected when you have insurance, and you now know some of the insurance types that you need. Choosing the right provider involves shopping around and comparing policies. You should do your due diligence with an insurance broker so that you can get the best deal when purchasing insurance for your trade.

by Keller Insurance Services

What Does Bonded And Insured Mean?

It is pretty common to come across the term bonded and insured. In most cases, it may require you to take out one of the two for your business. Perhaps even both. Some customers can be particular and prefer to work with businesses that meet both requirements.

So what does it mean to be bonded, and what does it mean to be insured? This article delves into both, so you will have a full understanding of the two.

What Does It Mean To Be Insured?

As a business owner, it is best to have your company insured. This means you get to transfer any potential risks your business may face to a third party. What insurance does is protects your business from liabilities such as theft and lawsuits, and incidences such as fire.

An insurance policy pays for any liability costs, such as an employee getting injured while working for a contractor. It also covers property damage. You should know that your insurance policy will not compensate you in the event of faulty work or negligence.

Most customers prefer contractors with an insurance policy. This is because the liability of someone getting injured does not befall them.

A general liability insurance policy can help your business' financial position. The policy caters to lawyer costs and legal fees if you get sued. This way you don't incur out-of-pocket costs.

What Does Bonded Mean?

When a business is bonded, it has purchased a surety bond. A surety bond protects the business from liabilities because of working with a third party. For example, if you hire a contractor for construction, you can take out a surety bond that protects you from theft, damage, or incomplete works.

A surety bond is typically an agreement that takes place between three parties; the principal, the obligee, and the surety.

The Principal

This is the company that buys the bond. It is primarily the business that provides its service to others. A good example is a construction company.

The Obligee

The obligee can be a municipal institution or the state. The obligee mandates the requirement of bonds by the principal. In most cases, the oblige grants permission to the principal to do business after obtaining a bond.

The Surety

The surety refers to the company that issues out the bond. In most cases, sureties are insurance companies.

If damage occurs while the principal is at work, they can apply for compensation from the surety. A bond protects a business from negligence within the workplace. For example, if someone partially completed the work, the obligee can file a claim to the surety for the cost of finishing the work under a different contractor.

Main Difference Between Being Bonded And Insured

Although the two seem similar, there is a thin difference between the two.

A bond protects a client from a loss after hiring a third party to carry out a particular task. At the same time, an insurance policy protects your business from financial losses resulting from damage or theft. Bonds relate to actions from third parties that can affect your business, whereas insurance policies safeguard your business from unforeseen losses.

Also, in case of loss or damage, the insurance company will compensate you at no cost. However, with a bond, the surety will pay for the claims to be reimbursed later by the principal.

What Is The Cost Of Getting A Bond Or Insurance?

Cost Of A Bond

Typically, for most bonds, you have to purchase them through premiums. You have to pay a percentage of the coverage amount you desire for fidelity bonds. This could be 0.5% to 1% of the amount.

A surety bond compares to loans. The main factor most sureties consider before issuing out a bond is your company's credit history and financials. Since most sureties avoid issuing out payouts, they avoid parties with high claims.

Cost Of An Insurance Policy

The cost of an insurance policy varies with the value of your property, the type of policy you choose, your business size and revenue, and some of the unique potential risks your business could face.

A Guide To Being Bonded And Insured

A bond or an insurance policy is a necessity in any business. It is common to experience incidences and accidents when you least expect it, so it is best to protect yourself and your business from these tragic outcomes. As a business, you can visit the Small Business Administration to guarantee your surety bond.

For more information on bonds and insurance policies, read our blog post on how being bonded and insured helps complete projects.

by Keller Insurance Services

The Importance of Insurance in Trade Occupations

If you work in a trade, it is imperative that you have insurance in place to protect your business. Of course this is something that is critical across all businesses today, but most people would agree that this is even more critical when it comes to trade occupations. So, with that being said, let’s take a look at this in further detail.

From Flooring Experts to Plumbers; Insurance Is a Must

Of course, when we talk about insurance in trade occupations, we are referring to the importance of insurance for plumbers, electricians, HVAC, flooring, masons, drywall, kitchen & bath, and door & window professionals, among others.

These sorts of professionals all have their own specific aspects needing to be insured, and this is something that your insurance expert will be able to assist with. They will make sure that all of the risks pertaining to your job are covered by the insurance plan.

Some of the World’s Most Dangerous Jobs

The main reason why people working in trade occupations require insurance is that trade occupations tend to be incredibly dangerous. Some of the most dangerous jobs in the world are as follows:

• Commercial fishermen
• Roofer
• Airline pilot
• Semi-truck drivers
• Farmers
• Taxi drivers
• Steel workers
• Construction workers
• Police officers
• Telecommunications line installers
• Mechanics
• Painters
• Welders
• Carpenters
• Firefighters
• Security guards
• Plumbers
• Removalists
• Loggers
• Wastewater treatment workers

As you can see, a lot of the most dangerous jobs around the world fall into trade occupations. This is why insurance is so critical.

Different Insurance Policies Required in Trade Occupations

Firstly, it is vital to recognize that there are a lot of different insurance policies that you are going to require while in the trade industry. This includes employment-related insurance, property insurance, liability insurance, and much more. There are many facets to this, and that is why we recommend you hire an insurance expert.

What Will Tradesman Insurance Cover?

The level of coverage will depend on the specific policy you have and your provider. It will also need to be tailored to suit your specific needs. After all, every business is unique. However, some of the different areas that this type of insurance can cover are:

• Working on-site
• Working abroad
• Quoting
• Consulting
• Private jobs
• Public contracts

Working with an insurance adviser is critical, as they will help you understand the varying levels of coverage that are available to you. They will then be able to provide you with a bespoke quotation to suit your needs.

Some coverage options to think about are efficacy coverage, tools, personal accident, and jury service.

Efficacy cover is designed to protect you against an insurance claim whereby a customer has received a service that did not achieve the job they intended it to. For example, let’s say that you run a security firm and the installation was faulty. If the customer experienced a burglary because of this, they could hold you liable, so efficacy insurance will assist with this.

In addition to this, you can add on insurance for your tools to cover your business against the loss, damage, and theft of them. You can also have the ability to cover tools if they are left in your work vehicles overnight. This is an important add-on to consider if the tools you use are of a high value and would cause significant loss to your business if they were damaged or stolen.

Besides this, there is jury service, which protects your income should you be called up to be part of jury service during a contracted job.

Finally, you'll want to consider personal accident insurance, which will cover you if there has been an accident that has caused serious injury or death on your property. More about this in the next section.

Protect Your Business From Accidents

One of the main reasons you need to have insurance in place is so that you can protect your business should there be any sort of accident that happens on your premises. If a person or an employee ends up getting hurt on your premises, you need to have insurance in place to make sure you can cover the cost of this.

After all, the person is going to need to be adequately compensated for the injuries that they have experienced as a consequence of the accident that has happened.

Accused of Treating an Employee Unfairly?

You also need to make sure that you have insurance in place if you have been accused of treating an employee unfairly. If you have terminated an employee without right, for example, this could be a reason for needing to have insurance in place to give your business protection.

Don’t Forget About Fleet Insurance

It is also likely that you are going to have a fleet of vehicles in your business, and this is something else that requires adequate insurance and protection. After all, you need to make sure that you are protected should your vehicle be involved in an accident or if someone steals one of your vehicles.

Insurance For Trade Workers Is Essential

As you can see, the benefits are plentiful when it comes to having insurance for your trade business. One of the greatest risks that any business owner can have is running their company without the required protection in place. This could result in thousands or even millions of dollars lost. In dangerous trade occupations, the importance of insurance is more critical than ever before.

If you would like to find the perfect trade insurance plan for you, please do not hesitate to get in touch with us today for more information. We will be more than happy to assist you and ensure you end up with the perfect policy for your specific needs.

by Keller Insurance Services

Why Buy General Liability Insurance for Contractors?

As a contractor, there are a lot of different hats you need to wear! One thing you need to do is make sure that your business is safe and compliant. This is where insurance matters come into play. Ensuring that your company has the right level of insurance protection is of critical importance. Failure to do this could see your business in a huge financial hole should something go wrong.

Considering that, continue reading to find out everything you need to know regarding general liability insurance and why you need to buy general liability insurance for contractors. This will give you a better understanding of what to expect from this type of insurance policy and how to choose the right plan for your needs.

What Is Liability Insurance?

When it comes to insurance options for your business, liability insurance is something that is widely considered as essential. Its importance is something that cannot be underestimated. If you have not taken out a liability policy, then you are putting yourself at serious risk and you should seek to find an insurance option as soon as possible.

First and foremost, it is crucial to define what this type of insurance is for those of you who are unaware. In basic terms, liability insurance ensures that a business is protected from any claims that an individual or business may make against them. This means that it protects against anything to do with injury or damage that has been caused on your work premises or because of activities related to your business.

If you do not take out this type of policy and something does go wrong, you will probably find yourself having to pay out a lot of money and your business will suffer immensely because your reputation will be highly tarnished. It's possible your business never even recovers over something entirely preventable.

Why Buy General Liability Insurance for Contractors?

Now that you know what general liability insurance for contractors is, we are going to take a look at the different reasons why you need to have this type of insurance in place. As a contractor, it is highly probable that you are going to have clients visiting you on your own premises or you are going to be visiting client sites. You need to have insurance to cover these situations.

A liability insurance plan will cover you should a third party be injured while you are carrying out work. You will also be covered if property belonging to someone else is damaged as a result of your work. For instance, should a ladder you were using fall onto someone passing by and injure them, your general liability insurance plan will cover this.

It is vital to make sure that you have this type of insurance in place to make sure that your business is protected should a claim be brought up against you. If someone was to make a claim against your business, and you did not have this sort of insurance in place, you would be faced with a massive bill.

This is without even factoring in the reputational damage that would come your business’s way. This is why it is critical to make sure that you have the right protection in place so that your business does not end up being vulnerable.

How Do You Find the Best General Liability Insurance?

There are lots of things that you need to consider when seeking a liability insurance policy. After all, there are lots of different types of this policy available. Moreover, there are a whole host of different companies in the US that offer this form of insurance. Therefore, it is crucial that you contemplate your options very carefully in order to effectively narrow down your search for this insurance policy so that you are left with one desired option.

The first thing that you need to consider is the cost of the insurance policy in question. It is recommended that you search online and get several quotes from different companies; this is so you will get a feel for the average cost of similar policies and you will be able to compare them against one another to find the best option.

Nevertheless, it is worth noting that it is not always good to go for the cheapest option because this is likely to indicate that you will not be covered for as many things as you should be. It is also advisable that you sit down and devise a budget before you begin to search for a policy. After all, you need to make sure that the option you go for is something which you can comfortably afford.

In addition to price, you should also make sure that the insurance company in question is a credible one. You should make an effort to find feedback and reviews regarding the business in question. This is one of the best ways in order to find honest and genuine insight. Moreover, it will make you feel safe in the knowledge that the insurance policy you are going to take out is with a company that is credible and highly sought after.

Furthermore, the insurance company in question should be able to provide you with a wealth of information and their customer service should be readily available whenever you have a query. A lot of insurance companies offer tons of policies nowadays but they never truly explain what they are all about. Websites that provide an in-depth and easy-to-understand insight into liability insurance are always the best to go for.

To conclude, liability policies are something which each and every business should take out if they want to protect themselves properly. If you run a construction business of any nature, you need to make sure that you have the right insurance in place to protect yourself and your business. Contact us and we'll make sure you know exactly what you need.

by Keller Insurance Services

Being Bonded and Insured Helps Complete Projects

If you run a company in the construction industry or have responsibility for a municipality, chances are you want to get your projects completed quickly and efficiently, with as few hiccups as possible. Being fully bonded and insured will help you with this.

Know little about bonding and insuring, or how it can help you get your projects done? Read on to find out all you need to know:

What’s the Difference Between Being Insured and Being Bonded?

A company that is licensed, bonded, and insured is a business that has all the correct licenses required for them to operate, as well as the correct business insurances required to work legally. In addition, it also means that they have paid for another layer of coverage with a bond.

What’s a Bond?

Basically, it’s an extra level of insurance added to your coverage plan. It will guarantee to pay out a specified amount if specific conditions are, or are not, met in the work contract you’ve committed to.

One example of this would be if you were a contractor with a general liability insurance policy. This will protect you against all the usual incidents like trips, slips, falls and machinery based injuries, but it won’t help you pay for extra liabilities such as claims against work that has not been completed to a high enough standard or even completed at all.

Bonds also cover various other things that normal insurance policies don’t cover, ensuring you can get on with the job without fear of losing everything in a lawsuit.

Are There Different Types of Bonds?

Yes, if you’re thinking about being bonded and insured, it’s important to know that there are several kinds of bonds you can use to help complete projects. They include:

Surety Bonds

Surety bonds are contracts drawn up between a minimum of three parties. They are used to protect against any losses caused by one of those three parties not living up to their contractual obligations. So, if you’re a contractor, you would have a bond with your customer and the surety (the organization or individual issuing the bond). If you cannot meet your contractual obligations, the surety will pay your customer the agreed sum.

License and Permit Bonds

License and permit bonds are bonds that are sometimes required by government agencies at all levels. These kinds of bonds can be valid for between one and five years and guarantee the government agency that your company will adhere to all regulations in order to protect the agency and its consumers.

Contract Bonds

Or performance bonds, as they are sometimes known, are a contract bond that guarantees the fulfillment of a company’s contractual terms. They were set up to assure the customer that they would get a certain standard of performance from the commercial contractors they used.

Each party in this kind of bond can specify the materials that will be used for the project, how long the project will take (including a fixed completion date), and any other factors that they feel are important.

These kinds of bonds are normally issued by insurance companies or banks and are typically purchased by contractors in order to secure a particular project. It’s a great way to ensure that customers are protected from a wide range of things, including contractor bankruptcy.

What Are the Benefits of Being Bonded and Insured?

As you can see above, being bonded and insured differs from simply being insured. Insurance policies tend to focus on the contracting company, ensuring that they are covered against litigation, whereas bonds, although they can certainly help to protect contractors, are typically far more focused on the customers.

They give clients various insurances that their work will be completed to a high standard and that, should anything go wrong, they will not lose out financially, and may in fact be compensated.

This makes many more clients far more inclined to hire a particular contractor or commercial contracting company. It’s a fast way to make everyone feel comfortable about the job.

How Much Does It Cost to Get Bonded and Insured?

As you might imagine, the cost of getting bonded and insured can vary significantly depending on a number of factors, including which profession you work in, how much coverage you need, which state you’re operating in, and what type of bond you require.

Often, bonds are paid in premiums, but sometimes you will need to pay a small percentage of the coverage sum amount to secure your bond. So, if, for example, you required a $100,000 bond, they may require you to pay a starting price of $1000.

Surety bonds typically cost more, with 15 percent of the project coverage sum being the average annual premium cost.

Does My Company Really Need to Be Bonded?

Most companies can get by with a standard insurance package, and unless they want to be bonded and insured, there is no actual need to do so.

However, companies and individuals working in the construction industry are far more likely to be bonded and insured. This is not only because it's often a legal requirement, along with the basics like general liability insurance and worker’s comp, but also because it gives customers confidence and speeds the process up.

Of course, if you’re simply mowing lawns and mending cracks, rather than building houses, you may not need to be bonded at all, so always check with a knowledgeable insurer or legal professional before buying a bond.

Keller Insurance Services Offers Bonds

Want to get bonded and insured, while ensuring that you get the right level of coverage for your needs? Whether you’re a municipality looking to protect your interests or a contractor looking to speed up a job, contact Keller Insurance Services today.

by Keller Insurance Services

Workers' Compensation in the Construction Industry

Workers' compensation is essential in the construction industry for companies in New Jersey. Naturally, you may have numerous questions relating to this topic, so we will aim to answer as many of them as possible throughout this guide. By the end, you should have a more thorough understanding of what worker's compensation is, why it's important, and what affects the premiums.

What Is Worker's Compensation?

Worker's compensation is a type of insurance that offers coverage in the event of employees injuring themselves during employment. As a result, it can prevent instances where employees sue the employer for compensation, as it provides benefits for them. This can include paying for medical bills, lost wages, etc.

In New Jersey, the current law is that all New Jersey employers - who aren't covered by Federal programs - must have some form of worker's compensation in place. It's seen as a way of protecting both the employer and the employee if workplace incidents happen.

Why Is Workers' Compensation Vital for the Construction Industry?

While the law enforces all companies to have worker's comp in NJ, it is even more important for construction business owners. When you consider the function and purpose of this insurance, you instantly understand why it's extremely beneficial in this industry.

The construction industry is one of the most dangerous and risk-heavy sectors in the world. Consider all the equipment and machinery that's used every day and the potential hazards you see when operating them. Then, factor in all the other elements of a construction site, and you very quickly have a long list of risks to deal with every day. The simple fact is that a construction company will have more chances of accidents happening than almost any other business in any other industry.

Consequently, the need for coverage is greater than anywhere else. By having worker's compensation, construction companies have a little bit of a safety net in place for the inevitable accidents that will happen. Even with the most stringent health & safety measures in place they will happen. It's not a poor reflection on your company, but more a reflection of how dangerous the industry is!

What are the Benefits of Worker's Comp for Construction Businesses?

By now, we've established that you need to have this insurance, regardless of how you feel about it. As a result, many construction business owners are somewhat annoyed at having to pay for it. They see it as an extra cost that they're forced to pay, so perhaps it will make you see things in a different light when you learn the benefits of having worker's compensation for your construction business.

Protects Your Business From Financial Hardship

Worker's comp works similarly to all other insurances in that it protects your business from serious financial hardships. What would happen if your company didn't have this coverage, and an employee was injured on-site? Legally, they have more than enough ammunition to sue for a lot of money. The fact that you're breaking the law by not having this mandatory insurance is one thing, let alone the compensation claims they can make because of their injuries.

When you calculate the costs of having worker's compensation vs. the costs of not having it, you realize it is a much better financial move. The benefits provided to your employees ensure that they have no reason to go out and sue you. Also, you're almost protected from any legal trouble because you can prove that you do have the insurance in place.

Stops You From Damaging Your Reputation

Similarly, lawsuits are always awful for your reputation. Construction workers injure themselves all the time, but you hardly ever hear about it. This is because the companies have worker's comp, so their wages are covered, and medical bills paid for. It doesn't become a news story as the employee is happily recovering without worrying about their financial situation.

Therefore, your reputation remains intact. However, if you didn't have worker's comp, and they filed a lawsuit, it would make the local news. More people would hear of the incident and your construction company would be painted in a poor light. You could end up with a reputation that's impossible to repair. Thus, any future work opportunities will be few and far between.

How Much Does Worker's Compensation Cost?

Like all insurance types, worker's compensation varies in costs depending on numerous factors. However, we can say that it tends to be more expensive for construction companies, purely because it presents a higher risk for the insurer. There are more chances of accidents happening on construction sites, therefore more chances of having to pay compensation through insurance.

Nevertheless, here are some main factors that influence your premium:

• Working with heavy equipment or dangerous tools can increase risks, thus raising your premium
• Working at heights of 15 foot and above will increase the premium because your business presents a greater risk
• The specific type of work you do can either increase or decrease the premium, depending on how risky it is

Regarding that last point, most construction businesses will have different work class codes that explain the roles of the employees. This includes:

• Masonry workers
• Plumbers
• Carpenters
• Electricians
• Other specialty traders

When requesting a quote for worker's compensation, you need to classify all of your employees according to their work class codes. This is because it can have a tremendous impact on your premium - for instance, if you have lots of electricians, the premium can go up as working with electricity is a high-risk job.

How Do You Get Worker's Compensation in New Jersey?

Keller Insurance Services is one of the leading insurance agencies/brokers in the New Jersey area. If you're looking to acquire worker's compensation throughout NJ, please contact us today. You can send us a message via our website, or contact us directly via telephone to talk about your options.

by Keller Insurance Services

Why Is Commercial General Liability Insurance Necessary?

Generally, the following are advantages of an insurance policy:

• Provision of economic protection
• Risk Sharing
• Maintenance of living standards
• Elimination of dependency
• Creation of employment
• Promotion of foreign trade
• Promotion of the saving culture
• Enhances a smooth operation of business activities
• Helps in reduction of inflation rates

General liability insurance (GL), typically known as business liability insurance, is a policy that offers protection from various claims such as bodily injury, personal injury, property damage, and other losses or damages that arise during the operations of your business.

Commercial general liability is structured to protect your business properties when an incident occurs because of a non-professional act that can cause your business to be sued by a third party. The quotes of general liability typically include:

• Property damage and bodily liability
• Damage to properties rented to you
• Medical payments
• Advertising and Personal injury
• Products finalized operations

Who Requires General Liability Insurance?

General liability insurance coverage is regularly joined with assets insurance in a Business Owners Policy. Nevertheless, the package is also available to several contractors as a single coverage via the Progressive Advantage Business Program.

As a business owner or a contractor, you are required to have business liability coverage to protect your business activities. A single accident can lead to a lawsuit where you may face challenges while handling.

The best way to safeguard your business is to ensure you have liability coverage that suits the level of the risks that your business faces.

Some clients and employers might also need you to possess a particular amount of general liability before forming a partnership.

General Liability Insurance for Small Businesses

If you operate a small business, you must have general liability insurance, particularly if you own or have rented an office or a commercial building. In most clients’ contracts, general liability insurance coverage is a necessity.

Regardless of whether this requirement applies to you or not, commercial general liability insurance has numerous benefits to small businesses that work directly with clients.

This insurance policy maintains your business's financial stability in case a competitor or a client sues you.

Since general liability insurance offers essential coverage, most small business owners purchase the policy after opening their business. Generally, general liability coverage is not a legal requirement.

However, it is compulsory for specific industries such as construction. Besides, it may be required by clients, mortgage companies, and landlords.

General Liability Insurance for Contractors

If you are a contractor, you may only need general liability coverage rather than a complete BOP. For instance, you may not possess a commercial property that needs property insurance, to cover employees' payments or other operational costs.

However, you are still prone to liability risks due to your work. You may be entitled to receive general liability insurance coverage without the additional packages in a BOP. The Progressive Advantage Business Program facilitates this.

General Liability Insurance Cost

As of 2019, the average monthly cost for a general liability insurance coverage was $53. Note that this is just an average figure, not what you will be required to pay. The specific features of a business determine the rates.

It is also crucial to use money-saving tips and policy rating factors to enable you to determine how to protect your business at a fair price.

Business Owners Policy or BOP

General liability plus other insurance packages are available in BOPs as facilitated by the Progressive Advantage Business Program.

If you require protection of things such as personal property used for business or commercial properties like storage facilities and garages, you may need the protection offered in a BOP.

Importance of General Liability Insurance Coverage

A general liability insurance policy is essential in protecting your business. The following are some reasons why you should consider purchasing the policy:

Protecting the Assets of your Business

As you operate a business, you will have to interact with your supplier, customer, vendors, other companies, and the general public.

In business, there are various human errors since nobody is perfect. Negligence or mistakes can lead to an accident that may cause injuries to the people you are dealing with.

When something goes wrong, your business will be responsible for the losses and damages. Although some claims are manageable, a costly claim can lead to an enormous cost to your company.

For instance, an accident that involves hazardous materials can spoil the surroundings and cause serious injuries to the individuals around.

This can result in an expensive claim. But, if you possess a general liability policy, you can protect your business and its assets by transferring all financial and legal responsibilities to your insurance provider.

Protecting Your Clients

Possessing an appropriate insurance policy provides a positive picture to your customers. Potential clients are most likely to opt for a business with general liability coverage. They consider the business as a dependable company in case smoothing goes wrong.

By possessing a commercial general liability insurance coverage, you can reassure your clients that they are protected. This will boost their confidence in your business.

Helps in Enhancing Client Base

Today, every business is prone to various risks. Therefore, customers expect companies to be appropriately insured before partnering with them. Some businesses, such as construction companies, are exposed to more risks compared to others.

Possessing insurance coverage can be an excellent tool to deal with your competitors. Being properly insured can attract many clients and improve your customer base.

Enhancing Your Business Reputation

You can use your general liability insurance to promote your company by stating you are fully insured and licensed.

It can give your clients an official guarantee. GL is mostly useful for small companies. This type of promotion can improve the reputation of your business.

Peace of Mind

Besides anything else, having general liability insurance for your business can guarantee peace of mind. Currently, all industries in the business world are stressful; therefore, you need a sense of safety.

General liability coverage can enhance your business growth since you will not have many things to think about.

by Keller Insurance Services

Retail Insurance in NJ: Storefronts That Need Coverage

If you are the owner of a retail store in New Jersey, you must take the right steps to protect the future longevity of your company.

Your business could be more vulnerable than you might assume and there are various costly issues that could hurt your company in the long term.

The best way to guarantee that your business is protected will be to ensure that you do have the right insurance in place.

There are many forms of retail insurance in NJ that could apply to your local business, so it is important that you explore all the options available and that could be relevant for your company.

Type Of Retail Insurance Policies

It’s important to note that there are numerous different types of retail insurance policies. Some of these could be more relevant to your business than others.

You might find that certain elements of retail insurance in NJ are covered through your business owner policy. However, this won’t be the case for every type of retail insurance that could be useful for your company.

For instance, you might have signage around your business. Signage can be a vital element to get foot traffic for your business and it could be a vital part of your business brand identity.

With retail insurance, you can protect expensive signage and ensure that you can replace a sign that is lost. You might also require insurance that covers your loss of income.

This could be because of the suspension of operations for your retail store and it might also cover any additional expenses that came into effect after your business closed down.

You might also need to consider protecting computer property in your business. This includes any computers that are relevant or vital for your business model and could include cables and software.

Be aware that you can typically customize your policy to include everything that you want or need. For instance, if you are holding a vast amount of data on your customers, then coverage for data compromise could be relevant for your business.

You might also want to cover for employee dishonesty. This will provide financial coverage in the event that dishonest acts by an employee result in significant financial loss.

Why Are They Important?

The primary reason that this type of insurance is important is to protect your company from a potentially massive financial loss. As you can see, there are many threats that could affect your business.

You need to be aware of these issues and take the right measures to protect your business. With the right coverage in place, then you won’t have to worry about ending up with a heavy bill that you won’t be able to afford.

Larger businesses will typically be able to cover some of the costs we have mentioned out of their own pocket. However, smaller retail stores can run into great difficulty here and could ultimately find that they cannot recover.

What Are The Risks Of Not Being Covered?

If you don’t have the right coverage in place for your retail store in New Jersey, then you will have two options. You can first consider paying the costs out of your revenue stream.

If you are unable to do this, then you might need to take out a loan to cover the costs we have mentioned. Either option could ultimately leave your business in the red and leave you struggling to remain open.

Once the debt starts to build, it’s difficult to keep it under control. Even a couple of these issues could leave your business in a difficult situation and struggling to stay afloat.

Don’t forget, there are numerous risks that you won’t be prepared for or covered if you don’t have this insurance in place. If your property is damaged due to natural issues such as a tree falling in a storm, then you won’t be able to claim to cover the costs.

Instead, you’ll need to pay the damages and this could result in renovation work that costs thousands of dollars. Alternatively, it’s possible that a customer or employee is injured on your premises.

Don’t forget, you will be liable for the damages from an injury like this, particularly if the accident occurred because of a hazard that you should have corrected.

A claim like this could cost hundreds of thousands in damages, depending on the extent of the injury, and will be enough to force you to close your doors. With the right insurance coverage, you can avoid this issue completely.

What Small Businesses Will Require This Insurance?

It’s difficult to narrow down the types of small businesses that could require this insurance. Ultimately, if you are running a small business that sells products on the market, then this coverage could apply to you.

Clothing boutiques, bridal stores, gift shops, auto part stores, game shops, toy stores and much more could all benefit from this type of insurance.

Without this type of insurance in place, then you will put your business at a significant level of risk. Ultimately, you could struggle to keep your doors open, even after just a couple of claims.

We hope this helps you understand the key considerations that you need to keep in mind when you are selecting retail insurance in NJ for your company.

In doing so, you will guarantee the longevity of your business and ensure that you don’t end up with heavy financial costs that will be impossible for you to recover from.

Without the right insurance, a significant legal claim could knock your business off the market completely. It is worth carefully researching the different types of retail insurance options available to find the right coverage for your needs.

It’s possible that you won’t be able to afford every type of coverage so it’s important to prioritize here. You might also need to think about protecting your business from the issues that come with the greatest level of risk.

by Keller Insurance Services

Plumber Insurance: Fixing Pipes & Protecting Your Business

Any plumbing business needs insurance coverage, just like any other business. Before delving into the basics of plumber insurance, keep in mind that:

• The type of insurance you need depends on your type of business
• Some insurance covers are required by law
• Policies range from property damage, accidental injuries to vehicle and equipment

The plumbing trade is lucrative, but it has its fair share of risks and challenges. It can be affected by many hazards like injuries in the line of duty or damage to the client's property.

Plumbing insurance comes in handy to protect your business against certain perils.

There’s a coverage designed for every type of risk your business is likely to face. This absolves you of the liability of meeting the cost of the expenses that follow an unfortunate event.

Whether you're a plumber, pipefitter, bathroom installer, or heating engineer, the law requires you to have some types of coverages.

Types of Plumbing Insurance

There are several standard insurance policies available for plumbers. Knowing what each entails is an essential step towards finding the right coverage for your business.

Some of the policies are as follows:

Business Owner Policy (BOP)

Ideally, when looking for plumber insurance start with the Business Owner's Policy.

It covers your business just like homeowners insurance protects your home and possessions. This option helps you cut down on insurance costs as it provides three crucial coverages in one.

General Liability Insurance

The first coverage is General Liability Insurance that meets the costs of personal injury and property damage. It covers a client who gets injured while at your shop or any damages to the client's property.

The coverage also protects you from some claims of slander and libel. However, it doesn’t cover your own mistakes in plumbing services. For such coverage, what you need is a professional liability policy.

Commercial Property Insurance

This policy is for the physical location of your business. It also covers the equipment, whether the property is owned or leased.

Business Income Insurance

This policy can help you recover any income lost. It comes in handy when your business encounters damages like a fire outbreak.

Commercial General Liability

This policy covers accidental injuries and damage to property in the course of work. In some jurisdictions, you can obtain a plumbing contractor license without proof of general liability insurance.

The insurance is imperative and includes:

• Costs of repair for property damage to a client’s home
• Physical injury to customers, leading to a court case
• Problems with plumbing installation

Worker’s Compensation Insurance

Workers' comp is directed towards covering the medical bills or employees injured at work.

It also meets the payroll costs for the period an employee is away from work. It helps in ensuring your employees get medical care and can still support their families following an injury.

Good enough, this policy protects your business from possible lawsuits. Remember, these can be costly and time-consuming.

In many states across the United States, you may not operate a plumbing business without this policy. However, the requirements differ from state to state, especially for companies that hire contractors.

Commercial Auto Insurance

Your technicians spend much of their time on the road in company vehicles from one job to another.

If an employee from your company is at fault in a car accident, the consequences can be costly. This is especially true where there are injuries caused to another motorist.

In most states, all registered vehicles have to carry liability insurance; the same way personal vehicles have insurance coverages.

The policy protects your company vehicles and employees in case they get into an accident. It protects it from damage, medical bills, and theft, or vandalism.

Commercial Property Insurance

Plumbing businesses need property insurance to protect commercial property investment.

This includes the tools and equipment, as well as the office space. It covers both owned and leased property within the premises from fire and vandalism.

Product Liability Insurance

Public liability insurance isn't a legal requirement, but it's a wise idea to have it.

It's instrumental in protecting you against financial liabilities associated with faulty products. It comes as part of the standard Tradesman Saver package.

If your business installs or sells a product that later causes damage to a client's property, this insurance comes into play.

For example, you may install a radiator that leaks and causes extensive damage to your client's property. The client can file a lawsuit against you.

If the leak is a result of a fault in the radiator, the insurance will compensate.

However, this insurance won't cover leakages as a result of faulty installation. The claim will be passed back to the manufacturer but will first be made to you as the plumber.

Inland Marine Insurance

This policy provides financial protection for a plumbing business that doesn’t remain in a fixed location.

Only get the policy if your business is not covered under the standard commercial property insurance. The coverage is for tools, supplies, equipment, and anything else the company frequently transports.

The range of equipment ranges from drain snakes to caulking and soldering machines. The policy coverage compensates you if the tools are damaged in transit or on the job site.

The list of plumber insurance coverages available is non-exhaustive. You must know what your business needs most.

If you can't afford every policy, consider buying the policies required by law first. With time you can diversify your options.

Find the Right Insurance for Your Business

After familiarizing with the types of plumbing insurance you need for your company, you need to find a reliable provider. Insurance companies are in plenty, but their services differ.

One factor that differentiates them is the cost of the policies.

Some factors insurance companies consider when giving you a quote include the location, business size, number of employees, and claims history.

Ensure you shop as far and wide as you can before settling for any insurance company.

For your plumber insurance needs in West Deptford, NJ, look no further. Talk to Keller Insurance for reliable and affordable plumbing business insurance services.

by Keller Insurance Services

Snow Removal Insurance for Landscapers & Contractors

When winter is on the way, it brings with it some dangerous conditions that can impact your life as a landscaper or a contractor or your business as a snow removal business.

When you have a small business, you need to carry on with what you are doing, no matter what the weather is doing, to grow the business and to thrive.

If you work in snow removals, then you need to run your business effectively to serve your local community and your customers.

Winter Risks

There are some additional risks in winter, as you will want to keep yourself and those around you safe, when you face scenarios like excess snow.

You would need insurance to help protect you and your business, because there can be risks to your employees and customers with slip-and-fall accidents. This could be due to equipment, or because of an injury that has resulted from snow removal.

There are also some other risks that you might not have thought about before, such as property damage that could be caused by what you do, and things like slanderous comments that a member of the team could make about a customer.

No matter what your business does, if it involves landscaping or being a contractor as winter approaches, snow removal insurance is a must. With the right insurance you can feel empowered to do your job, and know that you are covered should something occur.

Types of Coverage

We at Keller Insurance Services know and understand the specific risks that are associated with small businesses in winter, which is why we can help to customize the kind of business insurance or snow removal insurance that you will need to be specific for your business and your needs.

The kinds of insurance that we could help cover you for are listed below, but what will be relevant to your business will depend on your individual business needs.

General Liability

When you are looking for snow removal insurance, there will be some basic coverage to cover things like minor injuries, damage to property, and other areas of liability.

This is the most basic kind of insurance to have. In fact, some customers may not let you start work without it.

When you have general liability insurance in place, you can easily expand on it by getting some more detailed or comprehensive coverage later down the line.

Commercial Umbrella Liability

Commercial umbrella liability insurance is a kind of insurance that can be treated as an add-on to your general liability insurance.

A lot of insurers will use this kind of insurance to give you a little bit more comprehensive coverage to any existing liability policy that you have.

This is something that is so important when there are any legal issues that arise, such as a major injury to yourself or others, as the payout can help with medical bill costs and deal with any settlements, should that be the case.

It can be a good ‘extra’ to have when you look into snow removal insurance, and more often that not, it isn’t too expensive to add it on.

Commercial Property Insurance

As a small business owner, you may have a commercial property where you do your work from.

As a landscaper or contractor in snow removal, you might not have an office to work from, though you may have a warehouse or building where you store your equipment, tools, and materials.

Having this kind of insurance for a commercial property means that the property will be covered should there be something like water damage to equipment and tools from a flood, a fire in the warehouse, or theft.

If you want to make sure that your business can carry on as usual, should a disaster happen, then you will need this kind of commercial property insurance to make sure you are covered, and can get equipment or tools replaced, as well as the commercial property taken care of.

Commercial Auto

You are likely to have vehicles that you use for your landscaping or contractor business, and have some specific vehicles used for snow removal.

Anything that you use for snow removal, as well as vehicles used as trailers for mowers, need to be covered with a commercial auto policy.

When you use them for work, it is different than getting regular car or vehicle insurance. Vehicles that are commonly covered under these policies tend to include vans, trucks, utility vehicles, and snow removal vehicles.

Business Owner Insurance

When you are a business owner, having some specific business owner insurance is important.

Generally, this kind of insurance is a combination of general liability insurance and commercial buildings insurance.

It means that you will be covered should anything happen to your business, as well as customers, employees, or your commercial property, no matter where you are.

Worker’s Compensation

If you have a team of people that work for you as part of your landscaping business or your snow removal business, then being covered for worker’s compensation is a great idea.

In the hopefully unlikely event that you have employees that get injured doing their job, then something like worker’s compensation will help to cover the cost of any related medical fees, time off work, and other expenses that are related.

If you use some dangerous equipment for your landscaping or snow removal business, which is likely to be very high in these industries, then worker’s compensation really is a must, as it is better to be safe than sorry.

If you need any more advice on what would be needed for your landscaping or contractor business, then don’t hesitate to get in contact with us today.

With years in the industry and local knowledge specific to the winter conditions in New Jersey, we can help to advise you on the insurance policies that can be a benefit to your business for snow removal.

by Keller Insurance Services

What is the Purpose of Workers' Compensation Insurance in NJ?

What is worker’s compensation? Worker’s compensation insurance in NJ is coverage designed to grant harmed or injured employees with a set form of monetary allowances.

The laws are set up to prevent the incurred costs of being made unable to work, as well as the necessary coverage to help with recovery costs.

Worker’s compensation also protects businesses in that it has been designed as a means to properly provide injured employees with the means they need to move forward.

This discourages and actively bars the legal standing for resulting lawsuits.

In this way, it’s better for companies, it provides employees with the necessary grounding and payout to forgo worry about finances thanks to wage replacement or easier access to disability compensation, and it also provides both parties with a solid path forward.

To that end, it’s no wonder these laws have been designed and enforced.

Remember that each state may hold their own specific laws surrounding what form worker’s compensation insurance will take in NJ. That being said, all states do require this as a form of necessary insured protection.

In New Jersey, worker’s compensation can be provided by Keller Insurance Services.

How Is Worker’s Compensation Insurance Affected By New Jersey Law?

Worker’s compensation requirements are defined by injuries that occur while performing a work task. If the injury itself requires more than a first-aider’s response, and is suffered by someone earning a tax-deductible income, the coverage applies.

If you hold one or more employees in your business, you are required by New Jersey law to provide worker’s comp insurance.

This will include temporary employees, or those on a part-time basis. If they accept salaries or hourly wages, and pay tax contributions, they require worker’s compensation insurance.

That being said, additional employment types, such as subcontractors, volunteers, and interns do not require this sort of coverage.

Another nice element of worker’s compensation insurance in NJ is that employees will be entitled to said compensation no matter where the fault lay in the accident or event leading to the injury.

A change to the law has also shown that workers can not directly sue the company for accidents contributed to via company negligence. The employee must move through the correct worker’s insurance compensation to make their claim.

DWC, the Division of Worker’s Compensation, is the legal body that oversees for the administration of New Jersey Worker’s Compensation Law (N.J.S.A. 34:15-1).

In the year 1911, the State of New Jersey enshrined worker’s compensation coverage as mandatory in employment law, putting coverage responsibilities on the direct shoulders of those hiring staff. This holds limited exceptions, such as if certain staff are already protected via federal programs.

Sixty-eight years later, in 1979, further reforms took place. The State of New Jersey found it appropriate to adjust the coverage sums to provided further necessary financial compensation to those suffering from disabilities sourced from injury.

This was designed to ensure those who could not return to work for a time were able to keep up with the rising cost of living.

In the same stroke, they also reduced disability benefits for those who were expected to make a full recovery or those who were only temporarily taking time off work.

Does My Business Require This Coverage?

If you plan to hire employees to the point where tax deductions are subtracted from their income, then yes, you require the coverage. As mentioned prior, certain exceptions include hiring unpaid interns, volunteers, subcontractors, or consultants.

How Is This Coverage Calculated?

It’s important to know the nuts and bolts of how coverage will be calculated because this is a fundamental part of your operational and budgeting framework. The statute of limitations precluding a claim is set at two years.

Here are some general guidelines:

• An award totaling 70% of weekly wages (set at a low of $216 up to a maximum of $810), are given to those suffering a partial or permanent disability.
• Coverage is defined by your particular company’s class code. These are used by insurance providers to designate your provision of a particular risk. As you can imagine, jobs that involve exposure to heavy machinery or intense physical labor are considered risker than office jobs. It’s important to give full and complete details of your company’s operations in order to provide the clearest risk analysis possible. You can click here for information relating to New Jersey’s classification codes.
• Compensation calculations may be affected by how long certain employees have been at your firm and receiving a tax-deductible income. This includes seasonal terms.

How Do Claims Usually Proceed?

If you’re going to be covered by important insurance, it’s crucial to know how this will operate in the event of an employee’s injury. Of course, we must always design for our annual injury rate to be zero, but we must also plan for reality.

So, how do claims usually proceed? Well, to begin with, under New Jersey law employers are able to select the physician(s) that will attend to injuries should they occur.

After the accident first takes place, it will first be reported to your management. After management makes the necessary arrangements for immediate care, they must report this accident to the insurance carrier.

This is named the First Report of Injury. That will then be filed with State apparatus.

Next, your insurance provider will evaluate the claim and verify it against New Jersey worker’s compensation law. If this is in keeping with the set requirements (we have discussed those above,) the next part of the process is followed.

This includes the insurance carrier taking the time to contact all involved parties, such as the injured worker (or familial representative), you as the employer, and the medical provider tasked with processing this care.

The medical provider is the main authority regarding the classification of injury, and they will produce a report with all of the particulars.

After seven days, the employee will have been receiving treatment and thus the eligibility of their worker’s compensation claim will be valid. Should disputes take place, the DMC will then involve themselves.

This process usually generated by the injured employee, and directs the DMC to handle claim petitions or open hearings regarding the complaint.

With this information, we hope you can more easily understand the purpose of worker’s compensation insurance in NJ.

You can contact Keller Insurance Services to find out more information.

by Keller Insurance Services

Tropical Storm Isaias: Reporting Property Damage

Today, many of you were hit by Tropical Storm Isaias, and some of you have been left without power and potential property damage.

If you’ve experienced property damage, we want to provide you with what to do next. See below:

• Contact your carrier
• Document everything with pictures and video
• Make necessary repairs to reduce further damage

While you are doing this, please make sure you are doing so safely. If you have minor damages, are not sure if you should call your carrier or still have questions, you can always contact us by:

• Phone: 856-464-9899
• Contact us

We are here to help, so please stay safe and take care!

by Keller Insurance Services

Landscaper Insurance: Lawn Care, Tree Service and Designers

If you’re in the landscaping business, you want to make sure you protect every aspect of your livelihood, from your equipment and materials, to your employees, and naturally, yourself.

That’s true whether you’re running a small two-man operation out of your garage, or own a large-scale landscaping business with a team of employees and a fleet of equipment.

Protecting your business is so very important. That’s why you need a good insurance policy that protects you every step of the way, with affordable premiums and all the benefits you require.

Why Landscaper Insurance Is Important

One reason having landscaping insurance is so important is that landscaping is a job that poses some risks. Damaged equipment, injuries on the job and weather-related issues are all problems that landscapers face on the regular.

Repairing and replacing damaged equipment isn’t cheap, and neither are medical bills. Having an insurance policy helps protect you and your finances from the unexpected.

Many landscaper insurance plans are custom-designed to meet the needs of the business.

The drafting of your plan will take into consideration details such as the size of your business, your coverage area, the materials and equipment you use, the services you provide, the size of your staff, and what your individual coverage needs are, based on all of this information.

Other factors they may consider include the location of your business, your annual income/revenue, payroll costs, property value of your business, the types of vehicles you use, the value of said vehicles and materials/equipment, and more. It sounds like a lot, but all of these details give them a larger idea of what type of coverage you need.

For instance, a larger scale company that provides a whole host of services will have a much different coverage plan than a smaller company that only does mowing and light gardening. An agent will go over the details of coverage with you to help you get the best insurance plan for you.

They will also take into consideration your claims history. So if you’ve had issues before, whether legal or otherwise, the insurance agent will take that into consideration when planning your coverage.

What types of landscaping businesses need insurance? In short, all of them.

But if you’re on the fence about whether or not your business really needs a policy, call an agent to chat and find out more information. Many types of landscaping/yard/lawn businesses utilize landscaper insurance.

Types of Landscapers

The following are common types of landscapers:

• Lawn Care Services/Maintenance - Mowers, landscapers, weeding and some gardening;
• Tree Pruning/Removal Services - Branch and stump removal, tree removal, pruning, limb maintenance, and more. This is a job that contains a high risk of injury, so having insurance in place is very important;
• Excavation/Grading - Excavation and ground grading to create level ground, digging, creating a drainage system, etc;
• Hardscape Design - This includes landscaping that works with rocks, boulders and other types of heavy outdoor items using heavy-duty equipment.

All of these business types fall under the category of “landscaping” and should have a basic landscaping insurance policy in place to help protect against the unexpected.

These plans not only take care of expenses in the case of injury or damage to equipment, but can pay legal fees in the event of a lawsuit or legal issue with a client, will handle lost wages/expenses in the event of a natural disaster, and more, depending on the type of coverage you choose.

While every plan differs, there are a few basic types of landscaping insurance. Your policy will likely fall into one of these categories, based on your needs.

General Liability

The most common form of landscaper insurance, it includes basic coverages such as bodily injury, property damage and other types of liability.

This is the most basic type and the one that you should always have (some clients may even require you do so). If you have general liability in place, you can then expand upon it with more detailed coverage.

Commercial Umbrella Liability

This type of insurance is an “add-on” to general liability insurance. Many companies use this to add on a bit of extra coverage to an existing liability policy.

These are helpful in the case of legal issues or injury as they can pay the extra money needed to cover a settlement or pay medical bills.

Adding this extra bit of coverage to a policy is a very good backup protection to have, and often they aren’t that expensive.

Commercial Property Insurance

This insurance protects your actual physical business (so the warehouse/office/building you work out of), as well as the materials, tools, equipment and vehicles housed within.

This is a good idea for any business regardless of industry, as it protects against natural disasters and accidents such as fire, flooding and in most cases, even theft.

Bear to mind though, it only covers damages at the physical property, so if something is damaged elsewhere, or equipment is stolen off the truck, you may or may not receive coverage.

Commercial Auto

Vehicles that are used for landscaping purposes, to transport equipment such as mowers, clippers, tractors; to drive to and from client’s homes, etc, can be covered under a commercial auto policy.

Vehicles commonly covered under these policies include work vans/service vans, dump trucks, trucks and utility vehicles/trailers.

Business Owners’ Insurance

This policy is a hybrid between general liability coverage and a basic commercial buildings and personal property plan.

Workers' Compensation

Having a workers' compensation package in your insurance coverage is very smart, especially if you have employees.

In the event that they become injured on the job, workers comp will pay for their medical bills, treatment and expenses, as well as lost wages.

For professions where the risk of injury is higher, due to dangerous equipment and materials (landscaping definitely falls into this category), having a workers comp plan in place is a must.

Surety Bonds

Most landscaping businesses, as with many service companies, must be bonded and licensed in order to operate. While surety bonds are different than insurance, often they are discussed and agreed upon when you apply for your insurance policy.

If you’re unsure about these types of bonds, speak to a reputable agent, who can help walk you through the process.

You will purchase the surety bond through your insurance agent. The protection offered by a surety bond can range from $10,000 to $100,000, depending on the type of coverage.

What Else?

You may be wondering about the other costs associated with landscaper insurance. Luckily, most basic landscaping insurance plans are generally pretty affordable.

Most of the lower-priced plans run around $400 per year for a smaller landscaping business, but policies can go upwards of several thousands of dollars for the more comprehensive coverages/large scale businesses.

Of course, the size of your business and how many you have on staff will contribute to your premium. This is something you’ll discuss with your agent.

If you have budgetary concerns, or want to ensure that the coverage meets all your needs, you should give them detailed information about your expectations.

How We Can Help

Luckily, there are many insurance companies and agents out there who offer affordable landscaping insurance coverage, and it is a good idea to compare quotes and policies from all of them.

You can easily obtain this information online or over the phone if you’re willing to provide a little bit of information about your business. If you’re looking for a reputable insurance company in New Jersey, Keller Insurance is a great choice.

Insurance agents can also speak to you about group health insurance plans for your employees. Many business owners choose to provide health insurance coverage for their staff and themselves via a group health insurance plan.

These are often a great idea and can provide coverage for people who normally wouldn’t be able to afford the best coverage.

Talk to your agent about group plans for business owners and find affordable coverage for you and your staff that include the benefits you find important, whether that’s a dental and vision plan, disability insurance, or something else.

You value your employees, so of course, you want to help them be protected, too. After all, taking care of your employees' needs is a proven way to increase productivity and morale on the job.

Whether you are the owner of a small landscaping business, or have a large chain of companies, having a great landscaper insurance policy in place is so important.

Protecting your business - including its employees, equipment, merchandise, materials, and of course, yourself - is a key part of running a successful company.

If you’re looking for landscaping insurance in the New Jersey area, you’ve got plenty of reputable insurance agencies vying for your business.

Take the time to compare quotes and find the best type of insurance policy for your landscaping company, through a reliable, knowledgeable agent today. Protect your landscaping business every step of the way. You’ll be so glad you did.

by Keller Insurance Services

COVID-19 Back To Work Resources Bundle

As states begin to loosen restrictions and many businesses and individuals are getting back to work, or are at least planning to do so in the coming weeks, we wanted to make sure everyone is prepared as possible.

With that in mind, we compiled a bundle of re-opening information to benefit general workplaces, as well as several industry-specific resources for businesses in retail, hospitality, manufacturing, healthcare and more.

For information on each individual resource, continue reading below.

General Workplace Guidance

Fisher Phillips LLP: 5 Steps to Reopen Your Workplace

Fisher Phillips, LLP, has compiled a list of five steps to reopen your workplace, according to the CDC's latest guidance.

OSHA: Guidance on Preparing Workplaces for COVID-19

This detailed packet from the Occupational Safety and Health Administration (OSHA), contains recommendations as well as descriptions of mandatory workplace safety and health standards.

CDC: Guidance for Cleaning & Disinfecting

An overview from the Centers for Disease Control and Prevention (CDC) on general guidelines for cleaning and disinfecting public spaces, workplaces, businesses, schools and homes.

CDC: Devising a Cleaning & Disinfecting Plan

A more thorough version of the above CDC guidelines, with details on developing, implementing, maintaining and revising your plan.

CDC: Reopening Workplaces During the COVID-19 Pandemic

Questions to ask yourself as an employer when deciding if you should return to work and to help protect workers, especially those at high risk of illness.

Vehicle Cleanliness

Wheels, Inc.: Vehicle Cleanliness Tips

Vehicle cleanliness tips from Wheels, Inc., a large, privately-held automotive fleet leasing and management company.

Industry-Specific Resources

Along with the general business resources above, we've compiled several industry-specific resources and guides. Check them out at the links below.

Retail Stores

OSHA: COVID-19 Guidance for Retail Workers

In this OSHA alert, retail employers can find tips can help reduce their employees’ risk of exposure to the coronavirus.

Hospitality & Hotels

American Hotel & Lodging Association: Hotel Cleaning Standards

The American Hotel & Lodging Association (AHLA) has published a guide with the latest enhanced industry-wise hotel cleaning standards in response to COVID-19 to keep employees and guests safe.

Manufacturing & Factories

OSHA: COVID-19 Guidance for the Manufacturing Industry Workforce

For employers and workers in the manufacturing industry, the following tips from OSHA can help reduce the risk of exposure and illness.

Construction & Contractors

JE Dunn Construction: Safety Slide Deck

This template from JE Dunn Construction Group highlights what their own personnel will be doing in their general approach to COVID safety and preparedness.

OSHA: COVID-19 Guidance for the Construction Workforce

When working in the construction industry, these tips can help reduce the risk of exposure to Coronavirus.

NFPA: Construction Site Safety During Emergencies

Buildings under construction, alteration or demolition are facing new challenges. Here's how owners can safely prepare, execute efforts and minimize risk.

Healthcare & Medical

CDC: Get Your Clinic Ready for COVID-19

Here are 10 precautions you can take before, during and after seeing patients in a medical practice.

NJ Office of the Attorney General: COVID-19 Advisory for Dental Professionals

The New Jersey Office of the Attorney General Division of Consumer Affairs (State Board of Dentistry) published a COVID-19 advisory for NJ dental professionals.

Golf Courses

We Are Golf - Back2Golf

To return the game of golf responsibly, allied organizations have established “Back2Golf,” a plan outlining operational guidelines for the golf’s 16,000-plus golf facilities that adhere to nationally established protocols and best practices.

USGA: COVID-19 Golf Course Care

The United States Golf Association (USGA) has created this resource page to provide useful information for everyone within the golf community on how to play and manage the game safely.

by Keller Insurance Services

Essential Considerations for Returning to Work - Video & PDF

by Keller Insurance Services

What is a Business Owner's Policy & Why Do I Need One?

There are so many things to consider when it comes to running a business. If you’re running a small business then you may think that you are priced out of the market due to high premiums or eligibility.

That’s where Business Owner’s Policies come in. They’re designed to cover the business-critical elements of your business while also being affordable.

Let’s look at why this type of policy could be right for your business.

What is a Business Owners’ Policy?

In simple terms, a Business Owner Policy is an overarching insurance policy that rolls all essential coverage into one single policy.

A standard Business Owner's Policy incorporates a declaration, form, common conditions statement, and any relevant endorsements.

As the policy is not bespoke and designed to offer a package of support to a pre-defined target market, it is a lot simpler to set up than other insurance policies.

The cost of the policy is generally a lot less of a financial outlay than if buying each individual insurance separately.

Perhaps now, more than ever, businesses are keen to protect themselves from unexpected events and conditions.

What is covered under the policy?

A standard policy typically included protections against:

Property damage - more commonly described as ‘named-peril coverage’.  This covers the costs for damage caused by specifically named events including fire, flood, vandalism, and explosion.

If you are looking for a Business Owner's Policy that covers all eventualities for property damage, you will need to find a company that offers this level of coverage.

Property covered can be owned or rented and you are also covered for items owned by a third party but stored in your property.

Liability - if your company is found legally responsible for inflicting damages on others through defective products,  faulty installations. injury, and property damage.

Business interruption - reclaim and business income lost through disaster, fire, or another catastrophic event.

Some insurers allow businesses to take out additional coverage as part of their Business Owner's Policy for a low premium.  These can typically include:

• Cybersecurity and electronic data
• Civil Authority
• Business Income
• Interruption of computer operations
• Accounts receivable

Figures from Statista show that between 2013 - 2018 24% of all insurance claims were due to damage and losses from fire or explosion.

What is not covered by a business owner’s policy?

There are several areas that are not typically included in a Business Owner's Policy for which businesses will need to take out separate policies. These include:

• Health and disability
• Professional liability
• Worker’s compensation
• Automobile insurance

Does my business need it?

Pros - SMEs benefit from being able to obtain a high level of coverage for a low-level premium. The cost of buying all the insurance policies separately could be prohibitive for some businesses.

You’ll also save time and money on research and admin by rolling everything up into one policy with the same insurer. In SME’s, money and budgets need to stretch a long way and this helps with that cash flow situation.

Unlike a Business Owner's Policy, standard policies do not include business income as part of their property section.

Cons - as Business Owners Policies are packaged to offer broad support to a certain type/size of the business, it is not as flexible in its terms or modifications as standard policies are.

Features such as professional liability are often used as a ‘perk’ to employees in certain sectors. Seeking this out separately can be a costly outlay for a small business.

The named-peril clause within the property portion of the policy can be restrictive. You are only covered in the event of a few, specifically named, incidents. You may want to consider your risks before signing an agreement.

It is strongly recommended that before taking out any kind of insurance policy, you perform a thorough risk assessment on your business. This will allow you to choose the right level of coverage for your particular set of circumstances.

A risk assessment will prevent you from taking out overly expensive policies that you don’t need or underinsuring your business with potentially devastating consequences.

Is your business eligible?

Business Owner's Policies are not available to every business. They are targeted at SMEs who need to meet certain eligibility criteria to be accepted for a policy.

These criteria can differ slightly between insurers but often include the geographic location, annual revenue, size of the property, and business sector.

Businesses from many sectors are eligible, including:

• Fast food restaurants/cafes (minimal cooking)
• Retail stores
• Hotels
• Salons and barbershops
• Small residential contractors
• Landscape gardeners

For the property portion of the Business Owner's Policy, there are certain restrictions on the type and size of property that is covered under the policy.

Office buildings cannot be taller than 6 stories or exceed 100,000 square feet. Buildings used for retail, wholesale, or services cannot exceed 35,000 square feet.

As a Business Owner's Policy is packaged together to offer insurance services to companies with a similar level of risk, this excludes certain sectors including:

• Cinemas and theatres
• Banks
• Factories
• Garages and mechanics

These types of businesses have a higher risk profile and need a more specialized range of policies to cover their specific needs.

Business Owner’s Policies from Keller Insurance Services

Our experienced team can help you find the right Business Owner's Policy for your business at an affordable premium.  As an independent agency, we look to find you the best coverage at the right price from our network of insurance providers.

If you’re unsure whether or not your business is eligible, we can help you

We offer a range of additional coverages to complement your Business Owner's Policy for true peace of mind. Start protecting your business today.

by Keller Insurance Services

Group Health Insurance in NJ: 5 Primary Coverages

Your business is known for a lot.

It’s known for the products you sell and/or make.

It’s known for the branding that resonates with your target audience.

It’s known for the standard of service your customers expect.

...But all of that means nothing without the people who make your business great.

Your employees’ hard work and endeavors make your business what it is.

Protecting them at work can help to show them how much you value them while helping them to remain productive.

This starts with the right group health insurance policy.

Here we’ll discuss all things group health insurance, why you need it, its primary coverages and how to get the most cost-efficacy out of your policy year-on-year.

What is Group Health Insurance?

Group health insurance is coverage that workplaces can put in place to make healthcare more affordable for their employees.

This is because risk is spread across a group of employees, and insurance providers have a better idea of whom they are covering, allowing them to provide better rates than they could offer for individual policies.

However, group policies need at least 70% participation in the plan for the coverage to be valid.

Group health insurance has been around since the Great Depression when healthcare costs were exceeding most patients’ ability to pay.

Employer-sponsored group health insurance plans came about in the 1940s when wartime legislation demanded flat wages yet employers needed attractive benefits to offer their workforces to make themselves more appealing to new candidates.

What Does it Cover?

Group health insurance covers a range of healthcare needs, including pre-existing or chronic health conditions such as heart disease, arthritis, diabetes and cancer, although coverage may vary depending on the individual policy and provider.

Some policies may also cover the healthcare needs of employees’ spouses.

Not everyone is covered under a group health insurance plan and the Affordable Care Act is designed to provide healthcare for those who are unable to take advantage of group coverage.

There are several different plan types including;

• Health Maintenance Organizations (HMO) - These use a primary care doctor as a main point of contact who refers the patients to specialists within the insurance company’s care network as needed.
• Preferred Provider Organizations (PPO) - These plans do not require policyholders to pick a primary care doctor and allow them to choose healthcare providers outside of the insurer’s network (usually at extra cost).
• Exclusive Provider Organizations (EPO) - These plans are a combination of HMO and PPO plans.
• Other Options - There is a huge range of other plan types that are often eligible to use alongside Health Savings Accounts. Point of Service (POS) plans are a good example of this and also combine elements of PPO and HMO plans.

Levels of Coverage

Within each plan, there are different levels of coverage that dictate the proportion of healthcare costs that are subsumed by the insurer.

• Platinum - Covers 90% of projected healthcare expenses for the average enrollee. You pay the remaining 10%.
• Gold - Coverage drops to 80% of projected healthcare expenses for gold policies. You pay the remaining 20%.
• Silver - 70% of projected healthcare expenses. You pay the other 30%.
• Bronze - 60% of projected healthcare expenses. You pay the other 40%.

More comprehensive policies will come at a higher premium, but out-of-pocket expenses will be significantly reduced.

It’s up to businesses to decide which level of coverage strikes the right balance between meeting the needs of the workforce and maintaining healthy cash flow.

Remember that the portion of the coverage that you bear can be supplemented by your employees.

Why Your Business Benefits from Group Health Coverage?

Believe it or not, small businesses (those with 50 employees or fewer) have no legal requirement to offer group health insurance.

The law requires very little from you, aside from allowing your employees time off for military service, voting or carrying out jury duty.

Still, just because you aren’t legally required to provide group health insurance doesn’t mean that you shouldn’t.

Companies who provide group health insurance are more attractive to top-tier candidates, and if you don’t offer it, you may lose a promising candidate to a competitor who does.

You’ll also save money because you’ll retain employees for longer and won’t have to pay out the expenses associated with recruiting and onboarding new team members when employees leave you for companies with better healthcare coverage.

Group healthcare insurance shouldn’t be viewed as just another overhead.

It has the potential to increase employee productivity, reduce turnaround and improve your bottom line in the long term.

Additional Benefits

With the right partners, you can also gain access to a range of other employee benefits that are not covered under group health insurance policies.

These include dental, disability, life and vision insurance.

You can offer your workforce and their dependants assurances in every aspect of their health and wellbeing!

Why Work With a Broker?

Businesses face a daily battle to stay cost-effective and keep their overheads manageable.

Insurance companies know this, and will rarely reward businesses for turning over and renewing their policies.

An insurance broker can keep your business cost-effective in ways that don’t come at the expense of the coverage your employees need and value.

A broker can get access to the best deals on the market, including deals that may not be available to you without them.

They work with a wide range of carriers to get you the best deal year on year.

Protecting your workforce without impinging on your profitability.

Who Are We?

We are Keller Insurance Services, and we strive to bring clients the best value for money on their group health insurance policies in and around West Deptford, NJ.

We have great relationships with a wide range of carriers to ensure that you get a great deal that’s suited to the needs of your workforce.

Give Your Workforce the Gift of Benefits

We also work with a trusted partner, Alliance Benefit Solutions to provide even greater value for employers.

With assistance for everything from disability insurance to retirement planning their portfolio of services combined with our own ensures that your employees always get the best deal and your business gets the most attractive portfolio of employee benefits at manageable costs.

by Keller Insurance Services

The Difference Between Being Bonded vs. Insured

Being bonded vs. insured are both forms of financial guarantee.

They are designed to protect a person or a business in the event of something going wrong.

However, they are not the same thing.

Being bonded is not insurance.

It can be a little confusing when the terms bond insurance, surety bond insurance are being used, but being bonded is still not the same as being insured.

Being bonded is more like credit, where the risk with the bond lies with the principle, meaning the person buying the bond, not with the insurance company.

Let’s break down being bonded vs. insured a little more:

First off, what is insurance?

There are various forms of insurance.

However, in a nutshell, it is a policy you take you with an insurance company, insurer, underwriter, which will protect you financially in the event of something unforeseen happening.

This can come in the form of a car accident, lawsuit, personal injury, life, etc.

It is a way a person or a business can mitigate risk.

What is bond insurance?

Bond insurance is like an extra level of coverage.

The bond issuer purchases a bond.

By doing this they guarantee that they will repay the principal the sum owed, and any, and all related interest payments in the event of a default, or if some or all of the conditions of a contract are or aren’t met.

A bond may cover additional damages or claims, for example.

Bonds are also used to enhance credit ratings.

What does being bonded mean?

There are many different ways they can bond you, as there are many bonds for you to choose from.

So, let's have a look at a few:

Surety bond

This form of bond has the effect of protecting you against certain claims of unlawfulness, or breach of contract.

These include claims of unsatisfactory work being done or an uncompleted project.

It can also protect against a claim saying that you failed to work within the law and the regulations of the business.

It also protects against claims of theft and fraud.

A surety bond is a contract between three different parties:

• The principal is the business who purchases the bond
• The obligee is the customer who has asked for the bond.
• The surety  is the company used to underwrite the bond

Basically, you are paying a guarantor to take out a bond.

Bonds are used to cover you against professional negligence claims.

The surety, however, unlike an insurance company, will be reimbursed after it has paid the claim.

License and permit bonds

These are the bonds required by a government body so you can license your business.

These can be in the form of municipal, state or federal level.

Every profession has its own type of licensing bond, and the bond can be valid for a term of one to five years.

The bond is a guarantee that your business will operate in coherence with all the laws and regulations in place to protect citizens of the state.

This bond falls under the wider category of a surety bond and can be called a contractor or construction bond.

Contract bonds

This is also another form of surety bond.

It is a bond that acts as a guarantee that you will fulfill all the terms of a contract.

This bond is sometimes called a performance bond and ensures that an expected standard agreed between the customer and contractor is met.

Since it's based upon performance, they can agree on timescales, materials used, etc.

The bond is usually given out by the bank or an insurer and the contractor purchases the bond per contact as part of negotiations between the customer and contractor.

It is used to protect the customer and is used to build trust.

It can also help in the event of the contractor goes broke.

Fidelity bond

This bond protects the bondholder against fraudulent acts.

The IT sector uses these types of bonds a lot as it means that their businesses are protected against accusations of theft, fraud, and things such as the accusation of unlawful data transfer, etc.

There are two types of fidelity bond:

• First-party will protect you if an employee is corrupt and defrauds you or steals from you. It will cover the cost to the business in terms of the theft itself, but it will not protect any damage caused to the client.
• Third-party protects your clients for the same thing. Some clients will ask you to get a third-party fidelity bond, so they are protected. For your interests, you need a first-party fidelity bond.

Janitorial bonds

These are used by professional cleaning companies.

These bonds reimburse clients in the event of the work being seen as incomplete or unsatisfactory.

They also cover them against any accusation of theft.

How insurance and bonds benefit your business

If you want financial protection and the peace of mind that offers then you need insurance policies and bonds.

Insurance policies all have the same purpose, to protect you from financial loss and damage.

If you do not have insurance and bonds, you will know all about it when things go wrong as the costs mount up.

Lawsuits, for example, can be expensive.

Is it worth the risk?

Bonds offer the client peace of mind too, so it is a way of building trust with them, and may be the difference between you getting a job or one of your competitors.

Does my business need to be bonded vs. insured or both?

Most businesses will already have general liability insurance or professional liability insurance.

However, a bond is generally used to cover additional damages or claims.

There are several factors to think about with getting additional bond coverage depending on the clients, the industry you work for, if you employ staff, if you drive a lot for work or if your company deals in handling sensitive data.

If you have additional questions about being bonded vs. insured, contact us at Keller Insurance Services.

by Keller Insurance Services