Call Us Toll Free: 866.688.DIVE (3483)

What is it to be Buck Naked?

In the insurance industry, you are considered BUCK NAKED when you have no insurance coverage or do not carry the proper insurance coverage. This is an unsettling and uncomfortable feeling similar to being caught BUCK NAKED! Do not let your company and its assets remain exposed! Click here to quickly find out if you are BUCK NAKED! You can also click on the type of business you are in and see a few examples of what specific coverages you need!

Why Do I Care?

    • Builder
      builder
    • Service
      service
    • Retailer
      retailer
    • Contractor
      contractor
    • Manufacturer
      manufacturer
    • Distributor
      distributor
 


Builder

Does my GL protect me in the event one of my subs seriously hurts or causes significant property damage at my customer’s location? 

BEWARE!  There are policies out there that exclude your subcontractor’s operations.  What if a subcontractor causes bodily injury or property damage at one of your job sites, but your sub’s insurance was cancelled without your notification?  If your policy excludes your subcontractor’s operations, the claim will be denied and you will be out of pocket for all attorney’s fees and settlements.  Make sure you do not have this exclusion!

Do I use properly written (AND LEGALLY BINDING) contracts between me and my subs?

Many builders believe that contracts are not necessary between their company and their subs; especially if they already get their sub’s certificate of insurance.  Unfortunately, without a properly written contract between you and your sub, you could (and will) be held liable for some, if not all, of the damages caused by your sub!  If you already use a contract, have it reviewed every few years by an attorney to make sure the wording is legal and binding to keep up with the changing laws specific to your state.

Service

Do I have coverage for all of my tools and equipment that are brought along to my weekly service calls?

If you do not carry an inland marine policy for your tools and equipment, they are not covered.  As soon as your property leaves your office or warehouse, you no longer have coverage for those items without an inland marine policy.

What if one of my service techs improperly drains pool water from a pool?  Am I covered for the expensive HAZMAT clean up costs and possible fines?

Unless you have a pollution policy or a pollution endorsement, you will be STUCK with these expenses.

Do I really need “Pop-Up” Coverage?

As a service company, or any kind of pool contractor for that matter, “pop-up” is an extremely important coverage.  Many think that pop-ups can only occur during the construction process.  However, a pop-up can occur after something simple is performed such as draining a pool.  This coverage can only be provided by select insurance carriers and without asking for it specifically, your policy will exclude this and your business can, and will, be held responsible for all the pop-up damages.

Retailer

Am I covered for business income & extra expense if my store burns down?  If so, do I have adequate limits?

If you have a property loss and have to shut down your store, how will that lost income be replaced?  What about the extra expenses you incur by temporarily operating somewhere else?  With business income and extra expense coverage included on your policy, you would be paid for the lost income & extra expenses incurred by experiencing a covered cause of loss. 

I have several employees.  What if they steal money or product from my store?  Do I have coverage for that?

Unless you have crime coverage, your company is at risk for employee dishonesty.  This is another overlooked coverage that should be considered more often.

Sub Contractor

Are the materials & equipment that I am installing or using, covered at the jobsite?

A builder’s risk policy will cover the materials, such as tile, and equipment, during the project and until it is complete.  Depending on how the policy is written, not only would the property be covered at the construction site, but also at off-site storage locations and while in transit.  Flood and earthquake coverage can be included as an option for this risk.

My employees use their own vehicles to drive to the jobsites.  Is my company protected if they are in an at fault accident?

Unless you have an auto liability symbol 1 on your policy, your company is at risk.  It is not uncommon for an employee to use their own vehicle for business purposes (ex. Salesperson).  Check to make sure your current auto policy liability limit is a symbol 1!  If it isn’t, your company is exposed!

Manufacturer

Does my policy pay for the profit on the finished and sold products I am manufacturing until it is delivered to my customer?

There is a “Selling Price Endorsement” you can have added to your policy.  This is a commonly overlooked coverage that values your finished goods at their selling price, rather than their unfinished cost, that covers your profit on the goods sold that are still at your location waiting to be shipped.

Do we need business income and extra expense?

Again, this coverage is often overlooked.  If you have a property loss and have to shut down your plant, this coverage will pay for your extra expenses incurred to operate somewhere else.  It will also pay for the lost income you incur because you are unable to manufacture and sell your goods.

Distributor

Why do I need cargo coverage?

If you are transporting your goods and they are damaged while in transit, this coverage will pay up to certain limits to replace the loss.  If you are using a common carrier to transport your goods, make sure their policy has adequate limits and coverages for the items they are moving for you!

Do I have coverage for the pool chemicals I am transporting?

A pollution policy provides coverage that will pay for the costs incurred to clean up spilled pollutants.  Without this policy, you would be out of pocket for all these COSTLY expenses!

Jeannette Blanton Insurance Agency
1307 E. Ennis Avenue
Ennis, Texas 75119
Toll Free: 866.688.DIVE (3483)
Phone: 972.878.6221
Fax: 972.878.6255