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This is the initial of two videos we’ve developed about liability insurance in nursing properties and assisted living facilities. (The other is about a special type of liability insurance called a wasting policy. It is obtainable here: www.youtube.com Placing a loved 1 in a nursing home is an amazingly difficult choice. You’ll want to decide on a facility that has a record of great, competent, compassionate care…and you’ll want to ask about liability insurance. Liability insurance protects nursing house and assisted living residents in the event that they turn out to be injured at the facility. In this video, “Nursing House Liability Insurance,” lawyer Carma Henson discusses why liability insurance is critical, and what to ask of the nursing property operator. Carma Henson and the rest of the HensonFuerst Nursing House Abuse legal team work on behalf of nursing home patients who have been hurt in nursing properties, either via abuse or neglect. Let her encounter assist you avoid a potentially harmful circumstance. ***Principal Workplace of Henson & Fuerst, PA: 2501 Blue Ridge Road, Raleigh, NC 27607 *** If you have extra questions, feel free of charge to go to our website at www.lawmed.com, and don’t forget to appear at some of our other videos at http
Visit us: www.agordon.com for far more info and for insurance and risk management solutions.
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Question by H L: How does liability insurance apply to a house?
A few weeks ago a city contractor was hired to tear down the condemned building next to our house. Somehow, he managed to nick our house with his trackhoe and took out a chunk of our roof. At the time, he promised to fix it but now his insurance company is using words like “liability insurance” and “depreciation” and it almost sounds to me like this is going to cost US a bunch of money. We considered going through our own insurance but then our rates would go up.
This was 100% his mistake. How do we make sure that he is the one to pay for it?
Best answer:
Answer by Not I
Sue him. Tell his company that the contractor is 100% liable and you will not settle for less then a new roof.
Those insurance words mean nothing to you and you will see the contractor in court. Call the local Building code enforcement office and get an inspector out there
If you do call your insurance company their lawyers will go after the contractor and his insurance company. There will be no raise in your insurance.
Add your own answer in the comments!
Before one begins a commercial venture there are many things that must be accomplished. This includes the purchase of what many term business insurance. It is what is used as a protection against loss of an investment due to disasters, vandalism, or theft. Other kinds of coverage can include, compensation for an injury a worker sustains on the job, malpractice coverage, or liability.
A policy that covers property damage may be required if the business in question is located on grounds that are leased or otherwise. The policy can also cover the cost of any equipment replacement. This is especially reassuring if one’s enterprise uses specialized equipment in order to bring goods or service to their customers.
If there are certain transactions that are taking place in one’s place of business then liability coverage is needed as well. This includes any contracts that need an extra bit of security placed on them. For instance if one’s enterprise manufactures a certain product then one will need this type of coverage should medical expenses arise due to a customer being injured as a result of using it.
Medical expenses and lost wages are should be paid in the event a worker is hurt on the job. Thus one will need the type of policy that will handle that type of thing whether the law requires it in under certain circumstances or not. It is an advantage that one should seriously consider acquiring as liability is greatly reduced in the event of an accident that causes someone to be hurt.
A malpractice policy involves those businesses that provide services that must have licensing. Thus those that those establishments that offer medical services, counseling, architectural services and other professional services must carry that kind of coverage.
Business insurance is the institution that can be of protection to the income that is generated by a commercial establishment should something occur that is unforeseen. Thus allowing a particular entity to continue in existence in order to provide what is required by their customers.
Pritchards & Associates provides for many locations. If you are looking for okeechobee insurance, check it out as you can always rely on Pritchards. we provide insurance that ranges from personal insurance too business insurance. For personal we provide auto and motorcycle, and even rental property and flood insurance. Business we provide builders risk, and commercial property insurance.
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You can’t be approved for a mortgage without homeowners insurance, which will cover you if a tree falls on your home, a guest trips on your stairs, an intruder makes off with your valuables, and much more.
To complete this How-To you will need:
An estimate of the replacement cost of your home and its contents
A visual inventory of your valuables
Insurance rate quotes
Insurer strength ratings
A high deductible
An annual policy review
A professional appraiser
A floater policy
Add-ons for flood and earthquake coverage
Extended replacement coverage
Step 1: A standard policy covers property damage caused by certain disasters; personal belongings, up to a limit; personal liability, which protects family members from lawsuits related to injury or property damage they may cause others; and medical coverage, which pays the expenses of non-family members injured on your property.
Step 2: Calculate how much insurance you need to carry. Homeowners insurance reimburses you for the cost per square foot of rebuilding your home—not the market value of the house.
Step 3: Figure out how much it would take to replace the contents of your home, which you can record by photographing or videotaping them. Consider hiring a professional appraiser to help.
Tip: A standard policy has reimbursement limits. If you own something particularly valuable that exceeds the limit, buy a separate policy for it. You’ll have to prove its worth with an appraisal.
Step 4: Consider buying additional coverage. Damage from fire and lightning is covered in standard policies, but flooding and earthquakes are not. Hurricanes are generally covered, but any flooding they cause is not.
Tip: If you live in an area prone to disasters that cause rebuilding costs to skyrocket, you might want extended-replacement coverage, which gives you an additional 20 to 25 percent over your policy limit.
Step 5: Weigh the pros and cons of a cash-value policy, which gives you money to replace your belongings, minus depreciation, versus a replacement-cost policy, which reimburses you for the current cost of replacing your goods. The latter has higher premiums.
Step 6: Get at least three rate quotes, since premiums can vary wildly, and check out the financial health of various insurance companies by searching online for their financial-strength ratings.
Tip: If you own a car, always check homeowner rates with your car insurer. Some companies give discounts to customers with multiple policies.
Step 7: Ask if you qualify for a premium discount if you have a security system, an upgraded electrical system, or new plumbing. Choose the highest deductible you can safely afford. Taking a $1,000 deductible rather than a $500 one can reduce your premiums by as much as 25 percent.
Step 8: Review your policy, and alert your insurer any time you make substantial renovations or a pricey purchase.
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Duration : 0:3:0
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