Do Standard Commercial Insurance Policies Protect Against Flood Damages?

How can I insure my business against floods?

If your business is located in an area with high flood risk, then securing the right coverage for flood damages is a matter of grave importance. While many business owners assume that flood damages are covered under their commercial property insurance, this isn’t actually the case. Standard commercial property policies explicitly exclude flooding from coverage, leaving many business owners with a dangerous gap in their coverage. Fortunately, you can address this gap by securing a specialty commercial flood insurance policy. Here’s what you need to know about this form of business insurance.

What does commercial flood insurance cover?

Commercial flood insurance offers coverage for the damage that your building and its contents sustain during a flooding event. This includes the damages caused by overflowing bodies of water, heavy or prolonged rain, snowmelt, storm surges, blocked storm drainage systems, broken dams, broken levees, and so on.

Does commercial flood have coverage exceptions?

Just like any insurance policy, commercial flood insurance has its limitations. For starters, this insurance will not offer coverage for the property outside of your business’s building. This includes your company’s landscaping and septic system. The financial losses stemming from business interruptions are also not covered by your flood insurance. Finally, commercial flood insurance will not cover any flood damages to your company’s vehicles, as the comprehensive portion of your commercial auto policy should cover them.

This is what you need to know about commercial flood insurance. Do you have additional questions regarding your business’s insurance coverage? If so, contact the team at Stromsoe Insurance Agency in Murrieta, California. Our dedicated professionals are eager to assist you with all your commercial coverage needs today.

How You Can Spot a Fake Workers Compensation Claim

Watch out for these signs of a fraudulent workers compensation insurance claim.

While you always want to give your employees the benefit of the doubt, sometimes they are just criminals in disguise. According to the National Insurance Crime Bureau, workers compensation fraud costs the system approximately $30 billion on an annual basis. With workers compensation fraud such a widespread problem, it’s important to keep an eye out for a fake claim at your place of business. Here are some of the signs you should watch out for.

Inconsistencies in the Employee’s Story

If your employee’s account of the story keeps changing or if their account does not fit the evidence gathered at the scene, this is a clear sign of dishonesty.

A Lack of Witnesses

While it’s possible that the employee was simply alone at the time of the incident, if the employee normally works around others, you may want to investigate their story a little more closely if no one witnessed the accident.

The Involvement of a Problematic Employee

If the employee has expressed their dissatisfaction with the company or had performance or behavioral issues in the past, they may have submitted a claim as a way of getting back at the company. Make sure you investigate the employee’s account very carefully for any inconsistencies.

An Unwillingness to Cooperate

Sustaining an injury at work is a scary experience, but if the employee is being particularly unresponsive or difficult, then it’s possible that they are hiding something. Refusing to undergo diagnostic tests or not responding to communication efforts should raise a red flag for you.

These are some of the signs of workers compensation insurance fraud that you need to look out for. Do you have further questions regarding your workers compensation or other commercial insurance needs? If so, contact the experts at Stromsoe Insurance Agency in Murrieta, California. Our dedicated team is ready to assist you today.

Steps to Take When You Get a Speeding Ticket

Here’s what you can do after being issued a speeding ticket.

Speeding is one of the most reckless and unnecessary driving behaviors you can have. If you choose to speed, not only are you putting yourself and everyone on the road at risk, but you are also increasing your chances of getting pulled over by the police. Should this ever happen to you, here’s what you need to do to handle the situation.

  • Firstly, pull to the side of the road safely and out of the way of traffic.
  • Stay calm and be polite to the officer. Keep your hands in view at all times and avoid making sudden movements.
  • Say as little as possible. If you plan on fighting your ticket, keep answers short and don’t admit wrongdoing. Anything you do say can be used against you if you go to court.
  • Sign the citation. This document is not an admission of guilt, it is just recognition that you’ve received the citation and promise to either pay the fine or show up to court on the designated date.
  • Merge safely back into traffic once the officer has given you the all clear.
  • Once you arrive at your destination, read over the documents. There will be a phone number that you can call if you have any questions.
  • Write down everything about the event that you can remember.
  • If you plan on fighting the ticket in court, make sure you have a well-prepared case and a good argument for why you were speeding.

These are some of the steps you can take after getting a speeding ticket. Remember, speeding is never permissible and always dangerous. To keep yourself and other drivers safe, avoid speeding and make sure you have the right auto insurance protections in place. For assistance with your car coverage needs, contact the experts at Stromsoe Insurance Agency in Murrieta, California today.

Here are the Natural Disasters Your Home Insurance Will Protect Against

Will your home policy offer you the protection that you need in the face of a disaster?

When you purchase homeowners insurance, it is on the assumption that your policy will have your back, no matter what comes your way. However, when it comes to natural disasters, this isn’t always the case. Read on to learn exactly what your homeowners insurance will cover when it comes to major damage events.

What is covered?

When you purchase homeowners insurance, your policy will include protection against certain hazards or perils. While your individual policy will specify exactly what you are covered for, if you have the HO-2 or broad policy form of homeowners insurance, you are covered for the following 16 disasters:

  1. Lightning or Fire
  2. Hail or Windstorm
  3. Explosions
  4. Damage caused by an aircraft
  5. Theft
  6. Riots or civil disturbances
  7. Smoke damage
  8. Damage caused by vehicles
  9. Vandalism
  10. Falling objects
  11. Volcanic eruption
  12. Pipe freezing
  13. Damage from the weight of snow and ice
  14. Water damage from plumbing, heating, or air conditioning
  15. Water heater cracking, tearing, and burning
  16. Damage from electrical currents

If you have the more common HO-3 or special policy form of home insurance, then you have extended coverage. In fact, you will have protection against every peril unless they are specifically named and excluded in your policy.

What isn’t covered?

While homeowners insurance will offer you pretty comprehensive coverage when it comes to natural disasters, your policy will not offer you coverage for earthquake or flooding damage. To secure coverage for these specific perils, you will need to get a specialty earthquake or flood insurance policy.

This is what your home insurance will and will not cover when it comes to natural disasters. Are you interested in learning more about your home insurance coverages? If so, contact the experts at Stromsoe Insurance Agency in Murrieta, California. We are ready to assist you with all your coverage needs today.