Each day, people come in and out of your business. Therefore, having general liability insurance from Fida Insurance Group is a good idea since any accident that happens in your business premise is considered to be your responsibility. However, there are many things that general liability insurance under commercial insurance does not cater for in Monroe, CT which include;

Property damage

Take a scenario where you own your restaurant in Monroe, CT. You need to finish some tasks and have to work late night then, unfortunately, there is a storm brew.  There is a strong wind which blows everything in your kitchen and all the cakes, and other foods are obliterated into a mess and utensils litter all over the floor.

General liability insurance will not cater for such kind of damages. It only pays for third-party property damage. This means that it pays for the damages caused by your employee to another person’s property and you will, therefore, need to buy a commercial property insurance to cater for your property damage.

Employee injuries

If your employee is injured while working for you, you cannot turn to general liability insurance for payment. You will need workers’ compensation insurance for such case to pay for the employee’s medical bills. General liability insurance can only cater for the non-employees injuries.

Employment disputes

In your business, you need many employees to fill different dockets so that they can share the workloads and maximize production. There could be a dispute between you and the employee whereby you may feel like the worker is not fulfilling his/her duties. For this reason, you decide to cut the employee’s pay, and the employee decides to sue you and makes false accusations against you. You will need employment practices liability insurance since general liability does not pay for such cases. 

Get general liability insurance from Fida Insurance Group to keep your visitors and neighbors protected and give you a financial security to help you keep everything that happens in your commercial premises under control.

 

 

It’s difficult to think about what might happen to your loved ones after you’re gone. In order to reduce risk, get the proper amount of security for your family’s needs. Fida Insurance Group in Monroe, CT urges you to talk with the independent agents about securing life insurance to help you and your family.

Types of Life Insurance

1. Term Life – is determined by a specific number of years. For example, you can enroll in a policy that has a 10-year term, 20-year term, or more. It is generally less expensive with fixed premiums. Term life insurance is normally used to replace income and can only be paid out if you die during the specified term. Once the term is up, you should contact your insurance agents to adjust your policy so you won’t lose coverage.
2. Whole Life – is fixed coverage that remains during the life of the policyholder as long as the premiums are paid. Usually, these premiums are higher than term life insurance because they are available for a longer period of time. Whole life insurance typically matures after 15 years, which indicates that your beneficiaries may be able to collect after the premiums have been paid for 15 years.
3. Universal Life – is designed to cover your family’s needs. You pay into an account where interest is accrued each month. It can be utilized to cover income, educational expenses, and mortgage costs. Universal life insurance is more flexible than other types of coverage since you can change the amount of premium that goes into the account.

It is up to you to make sure that your life insurance policy is up-to-date. You should review your policy regularly. If you need to make adjustments, the independent insurance agents at Fida Insurance Group in Monroe, CT can help you add or change your coverage.

Liability is probably not enough to protect your business. Every industry, every business comes with its own unique set of risks, and while liability is near-universally required across the board for safe operation, there are few businesses for whom liability covers every single base. If you are working in a service field, and your equipment is cheap to replace, if you have any equipment at all, then an extensive liability plan might be enough. This describes a few categories of adviser and counselor and consultant, but not much else in Monroe, CT.

The foundation of safe operation in any business with a physical location is commercial insurance. Commercial insurance does for your company what homeowners insurance does for your house, essentially protecting all of the physical assets contained therein. This means that if there’s a fire or a break-in or something like that, then you will be covered in more instances than not. If you have anything at all within your physical location that you cannot afford to replace on your own dime, then commercial insurance is an absolute must.

Fida Insurance Group specializes in helping business owners connect with policies that fit their needs in Monroe, CT and elsewhere, and if you’re still shopping around for commercial insurance, or looking to get a better deal than your current provider allows, then it may be worth a call to see what’s available for you.

Although different businesses require different types and levels of insurance, it is incredibly rare that any company that can safely go without any protection at all. Fida Insurance Group can help to make sure that you are not working without a net.