Monthly ArchiveFebruary 2021

Entertainment Insurance

Understanding Adult Entertainment Insurance

There is a certain amount of risk involved with running any kind of business but this is especially true when it comes to anything related to adult entertainment businesses.  Adult entertainment establishments and nightclubs involve a lot of factors that can easily lead to the perfect storm for something to go wrong.  This is why it is important to have adult entertainment insurance to cover your business in case an incident occurs.

What is Covered By Adult Entertainment Insurance?

Adult entertainment insurance can provide coverage for a variety of different things.  You can obtain the usual types of coverage that any business should have such as general liability insurance, property insurance, workers’ compensation, and employee benefits liability insurance.  However, when it comes to adult entertainment, the typical business insurance coverages will not suffice.  There are a couple key types of insurance that you need to have to make sure your business is protected.

Liquor Liability Insurance

This type of insurance is a must if your establishment serves alcohol.  When alcohol gets involved, people’s inhibitions are lowered and they are far more likely to make a risky choice such as driving under the influence or getting into a fight with another patron.

Assault & Battery Insurance

Assault & battery insurance is a must for any adult entertainment-related business.  Infractions can easily occur between patrons and between workers and patrons.

Running a business in the adult entertainment industry is not easy.  Having good insurance coverage can make a huge difference.

Guaranteed Replacement Cost Coverage

How Can You Get Guaranteed Replacement Cost Coverage for Your Home?

If you live in an area that poses significant climate or other risks to your house, or if you simply want very thorough coverage, you might be looking into guaranteed replacement cost coverage, which may allow you to rebuild your home after it gets significantly harmed or even destroyed. However, if you’ve had trouble identifying insurance companies offering guaranteed replacement cost, you can use this guide to figure out how to get this coverage.

Look for Policies That Cover Full Replacement Costs

Not all home insurance policies cover full replacement costs in the event of reconstruction, especially once costs like the following are taken into account. You’ll want to look for a policy that will cover your full reconstruction cost, regardless of policy limits.

  • Materials and construction supplies
  • Contract labor

Your Current Homeowner’s Insurance May Determine How Much Guaranteed Replacement Coverage You Require

The amount of guaranteed replacement coverage you get could depend on your current homeowner’s insurance covers. Unfortunately, many homeowners are under the impression that their regular property insurance covers more than it actually might. If your policy only covers, for instance, 80% of your home’s value, or less if your home has appreciated significantly since you bought it, this alone might not be enough to cover costs.

Finding insurance companies offering guaranteed replacement cost isn’t always easy, but the coverage can be well worth the search. With guaranteed replacement cost coverage, you can rest assured you’ll be able to rebuild your home even after a disaster.

Marine Insurance Coverage

Protect Boat Dealers With Marine Insurance Coverage

In the marine industry, there a variety of sectors with different risks. When choosing marine insurance, you have to think about the business in question. For instance, when working with boat dealers, they may require insurance coverages tailored to them.

Boat Dealer Insurance Options

If you are working with boat dealers, you need to think about the different risks that boat dealers face. Boat dealers, like most companies, require general liability coverage and property coverage. This will protect the business against injury and property damage claims. Some boat dealer insurance options include:

Special coverages are determined by the boat dealer in question and risks that are specific to the company.

Boat Dealer Risks

In the marine industry, boat dealers face different risks than others. For instance, if a boat becomes damaged during transport or in a seaworthiness test, that is a loss for the company. Inventory at the marina or in a lot can be damaged by storms or vandals. It is important to keep risk in mind when choosing different insurance coverages.

If you have boat dealer clients, then you need to have the options available. Boat dealers will trust an agent who is educated in the various risks and can customize insurance options to fit their business.

Manage Construction Risks

How To Properly Manage Construction Risks

Construction sites pose the risk of serious injury to workers. Heavy machinery and sharp tools with moving parts are some of the components that cause concern to builders. Because of these risks inherent in the work, it’s critical for the construction business owner to be aware of the many situations that pose risks and cause roadblocks. This not only protects their business but also protects their workers from harm.

Risk Management in the Construction Business

Managing risks in construction helps the business owner control the issues that can delay or derail a project. Some of the most common risks include:

  • Safety Concerns– The top concern for construction companies centers on workplace injuries.
  • Cost Factors– Often, unexpected costs can arise while working on a project.
  • Weather-related Issues – Natural disasters, such as floods and strong winds, can easily derail a project.
  • Legal Risks– Contracting disputes and liability risks often arise during a job.
  • Delay Concerns– Management issues and breaks in the supply chain can seriously hamper a project from being completed on time.

Once risks are identified, a plan to mitigate each risk must be developed. It’s wise to focus on the most severe and highest-probability issues first, and train all employees on best practices.

Managing risks helps the construction business owner stay in control even when unexpected events occur.