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Recent Updates Concerning Commercial Insurance in Texas

Posted on June 5, 2017May 15, 2017 by agentinsure

With our busy schedules, it’s easy to overlook recent updates concerning business insurance. We, as business professionals and entrepreneurs, are working hard to achieve the bottom line- gaining profits, and to stay abreast of the competition. Having said all of this, the following includes recent updates concerning commercial insurance in the state of Texas:

1. Appropriate coverage of Uber and Lyft drivers– with the gaps discovered with transportation networking companies, insurance laws relatable to those gaps became effective on January 1, 2016.

2. The increase in burial benefit insurance for worker’s compensation– increased from $6,000 to $10,000.

3. Financial requirements of bail bond insurers– to continue effective bail bonds’ issuance, bail bond insurers must clarify the premium receipts/service fees’ taxability.

4. Debt cancellation agreements with certain retail installment leases and contracts for vehicles– the amendment except stated in the Texas capital legislature that a retail seller may provide a retail buyer an agreement of debt cancellation which includes a waiver of guaranteed asset protection or a similar type of agreement. And furthermore, if part of the retail buyer’s responsibility towards the holder in the form of insurance coverage is required as the retail installment transaction, the asset is guaranteed.

Conclusion

These are just a few commercial related insurance updates. To know more concerning these and other relatable updates, InsureUS, located in Cypress, TX, is the proper place of contact. InsureUS has top notch customer service and agents who are highly trained and experienced, and they are anxiously awaiting to assist you. As stated before, they are located in Cypress, TX which is just outside Houston, Texas. They also can be contacted via email, phone, and fax. So, call them today. You’ll have a peace of mind knowing that your business is adequately covered.

Presentation tips to land a new client

Posted on June 2, 2017May 18, 2017 by Victor Varma

Presentation tips to land a new client
Landing that new account or client can bring feelings of elation.

It’s likely that to land a client you’ll have to make a great presentation. Here are some tips:

First, steady your nerves. This seems like common sense, but ahead of the presentation, you’ll have a few butterflies.

As you start the presentation, make it clear that you are the owner of the business; not an employee.

Understand the client’s needs and what their goals are ahead of time. That way you can address them during your presentation.

Include graphics, images, and facts to make your presentation more memorable, according to Inc.

Consulting Success says you should offer an introductory rate for your fees. However, make it clear that it’s just that. Feel free to let them know your normal rates.

Inc. also says to give your presentation as a story. Let stories illustrate points to help people make an emotional connection to the message.

Work up a sell sheet, states Entrepreneur magazine. This sheet should clearly state how you plan to address the potential client’s problems and challenges. If you are presenting a product, explain its features and benefits and your product’s market. Also, explain the legal status of your invention, such any patents pending, copyright or trademark information.

Watch your time. You don’t want to start droning on and on. That bores people, and at some point they tune out.

Contractors need liability insurance

Posted on May 19, 2017April 15, 2017 by Victor Varma

Independent contractors are increasingly working at all types of businesses. From plumbing to consulting, companies are seeing the benefits of hiring so-called 1099ers.

Because of their status as contractors, they don’t receive many of the benefits that employers usually provide. One of those benefits is liability insurance. If anything goes wrong while on the job, the insurance can cover it.

According to Insureon, those reasons include:

– Covering lawyer fees and damages if the employer sues over the work provided by the contractor

– Making sure that the employer doesn’t have to pay the costs if the contractor is sued

– Being compliant with statutory requirements

The type and how much insurance is needed varies based on a contractor’s responsibilities. For example, those in construction, or others who work with heavy machinery and tools, may need insurance for bodily injury and property damage.

Those who are contracted to provide advice, such as accountants, financial planners, interior designers and landscape architects, need to be concerned about liability risks, according to Trusted Choice. The company, which works with small businesses on insurance matters, says these contractors need to be covered for losses their clients may have as a result of the contractor’s recommendations.

Contractors who work as caterers should consider insurance for product and liquor liabilities. Trusted Choice notes this covers them if they serve food and alcohol at functions where guests could be injured because of food poisoning, for example.

Contractors who are unsure what kind of insurance to buy should consult with a licensed agent.

Unraveling Car Insurance Urban Legends

Posted on May 15, 2017May 15, 2017 by agentinsure

There are many commonly held beliefs that get passed on from person to person regarding car insurance. While some of these beliefs have been around for decades, it does not mean they are necessarily true. Luckily, the experts at InsureUS, serving residents in Cypress, TX, are here to help. We have put together a quick list of some commonly held beliefs about car insurance that are not true.

The Color of Your Car Matters

A myth has been circulating for years that red colored cars cost more money to insure. This myth has probably started with the conception that most sports cars are red. Because sports cars are fast and the owners can be reckless, the idea is then that ANY red car will see a hike in premium. The truth of the matter is that most insurance companies will not even ask what color car you have. Companies are more concerned with knowing the year, model, engine size, and safety features the car may have.

Speeding Sports Cars

The idea that sports cars cost more to insure because the drivers of them typically get more speeding tickets is completely false. In a survey conducted, the majority of speeding tickets are dished out to people driving sedans or SUVs. In fact, on the list of the top ten cars that receive speeding tickets, there was only one sports car mentioned. Insurance rates are determined by driver history, the type of car and the features the car possesses.

Thieves

Another commonly held misconception is that car thieves only want to steal new cars. While a new car may look enticing to a potential burglar, the truth is that older cars are typically stolen more often. This is because people are holding on to their cars longer and older stolen cars can be sold for parts. If you are expecting your insurance premiums to go down because you have an older car think again! There are many other factors that come into play when determining your car insurance premium.

Luckily, if you are located in Cypress, TX, the experts at InsureUS are here to help. We are available to answer any questions you may have to get you on the path to understanding the truth about car insurance.

Hurricane Preparedness Week, May 7-13, 2017

Posted on May 8, 2017April 15, 2017 by Victor Varma

There will be trouble. Expect it. Prepare for it.

According to NOAA, on average, 12 tropical storms will form over the Atlantic Ocean, Caribbean Sea, or Gulf of Mexico during the hurricane season which runs from June 1 to November 30 each year. Six will become hurricanes.

In the Central Pacific Ocean, an average of three tropical storms, two of which become hurricanes, form or move over the area during the hurricane season, which runs from June 1 to November 30 each year. During a typical 2-year period, the U.S. coastline is struck by an average of 3 hurricanes, one of which is classified as a major hurricane (winds of 111 mph or greater)

What damage does each category of hurricane cause?

Category 1 – 74-95 mph winds

Don’t take a Cat 1 hurricane lightly. At this wind speed, you may have roof and siding damage. Dead trees will fall; branches will break. Power outages will last for several days.

Prepare: Trim trees, service your generator, make sure you have water, food, and an up to date emergency kit.

Category 2 – 96-110 mph winds.

Downed trees will block roads. Power can be out from days to weeks.

Category 3 – 111-129 mph winds

Expect devastation to buildings. You may lose your roof, gutters and siding. Power will almost certainly be out for at least two weeks. Water will be a problem. Fill bathtubs before the storm to use for flushing toilets and bathing.

Category 4 – 130-156 mph winds

You’ll be evacuated if this storm heads your way. Make plans before hurricane season for a place to stay for a minimum of two weeks. Your house will sustain major structural damage. There will be no water or power. Your pets cannot survive this storm. Make plans to take them with you.

Category 5 – 157 or higher mph winds

Catastrophic. You will be evacuated. After the storm, you will have no place to live. Houses will be reduced to timber. Travel will be impossible for weeks. No water or power for weeks. Not only will you need a place to stay for weeks, you’ll be filing an insurance claim for everything you own. Before the storm, use your smartphone to take a video of your home, room by room. Your pets will not survive this storm. Make plans to take them with you.

Storm surge

Surging waters can be a deadly effect of a hurricane. In Hurricane Katrina in 2005, it was the storm surge that broke levees in New Orleans and caused flooding six to 12 miles from the beach.

How will going into business affect family?

Posted on May 5, 2017April 15, 2017 by Victor Varma

At some point in everyone’s career, this thought comes up: “Am I ready to follow my dreams and start my own business?”

You may have dotted your i’s and crossed your t’s in terms of being financially and mentally ready to start your own business. However, have you thought about the effects on your family? Too often this oversight can lead to a crisis at home, as well as in your business.

“It’s easy to forget that changing careers will affect your family, too. Be 100 percent certain that you and your loved ones understand the implications of running a startup,” notes Inc.com.

The good and the bad
Fully prepare them for the good and the bad of starting your own business. Do not hold back on the bad things that could happen.

Explain the hours you’re going to have to commit to your endeavor. This includes you being not able to be at as many family events.

If the family’s budget will need to be reduced, tell them. Go over your business plans with your family, giving them as many details as possible. You want their support, and you don’t want them to be surprised by any of the things that could go wrong.

“When one person goes into business, everyone in the family unit is affected,” author Pamela Slim told Entrepreneur. “If your partner and other members of your support network are reluctant to back your idea, you may want to rethink quitting your current job.”

However, this is a personal choice. From a startup owner quoted in Inc.com:

“Ultimately, I realized if I didn’t start my own company, I would always regret it, both for myself and as a role model for my children.”

Regulatory authority actions could impact small business loans

Posted on April 27, 2017March 8, 2017 by Victor Varma

One of the chief ways small business owners raise money is through loans.

One of the chief complaints of small business owners is regulations.

The two issues have hit in a head-on collision.

The Consumer Financial Protection Bureau (CFPB) was set up to protect people from falling for scams in the financial industry, and to keep a watch on companies that operate in the space. It has been so mired in controversy over its authority that it now faces dismantling by the new administration.

As the wheels turn in that effort, the controversial government agency has set its sights on small business loans, collecting information and statistics about the loans.

Banks and lenders smell trouble, according to Bloomberg BNA. Is the bureau ramping up for a new round of fair lending lawsuits? Or a whole new range of lending regulations? If it wanted to, the unelected CFPB could enact regulations with the force of law, just as if it were Congress.

The CFPB came from the Dodd-Frank Act that has been in the news lately, as calls for its repeal have run rampant.

The problem with the CFPB’s targeting how small businesses get loans is twofold.

First, there are concerns about the scope of the information the CFPB wants to collect.

The CFPB wants to use a section of an existing law that requires it to collect information about access to credit for small businesses, women-owned businesses, and minority-owned businesses. The CFPB also wants to collect new data on the state of small business lending. It applies to online lenders, as well as bank lenders.

Proponents say this is an effort to save small business owners from unfair lending practices. However, a Pandora’s box is opened whenever a government bureaucracy attempts to expand its so-called collection data efforts.

Lenders, including non-banks and online lenders, could simply curtail making loans to small business owners. They might fear unequal lending lawsuits if their numbers of loans to women-owned and minority-owned businesses are not high enough. Some might make bad loans just to get their numbers up, something that contributed to the housing crisis of 2008.

Some companies may find that dealing with government disclosure is timely and costly. They may find it’s not worth the hassle.

For small business owners, available lenders would be curtailed.

The second problem deals with the many complaints about the CFPB concerning its abuse of power.

The controversial bureau has been under fire for its overreach. Critics also say the CFPB’s data collection efforts may go further than what is allowed by the actual law.

First woman to run the Boston Marathon, April 19, 1967

Posted on April 19, 2017March 8, 2017 by Victor Varma

Katherine Switzer became the first woman to run as a numbered participant in the Boston Marathon, April 19, 1967.

Switzer registered for the race as K.V. Switzer and was given a number, even though women were not invited to run.

When the error was discovered, one official tried to physically force her off the course. But Switzer’s boyfriend, also running, clobbered the official, sending him flying and they continued.

An unofficial woman runner, Bobbi Gibb, beat Switzer’s time by an hour.

Women were not officially welcome to the marathon until 1972. Interestingly, the official who pushed Switzer in 1967 was instrumental in making women part of the event in 1972.

Tips to Prevent Mold Damage to Your Home

Posted on April 19, 2017April 15, 2017 by agentinsure

Mold can cause severe damage and time-consuming, costly repairs to your home. Save your time and money by addressing these suggestions to rid your house in the Cypress, TX area before it takes hold.

Use a critical eye to eliminate unnecessary clutter, especially around airflow points that prevent your HVAC air circulation.
Controlling your indoor climate by setting the thermostat at 78 degrees F to prevent the air conditioning unit from dehumidifying during humid summers.
Make sure our AC unit is the proper size for your home. If it’s too small or large, it will not run efficiently and can lead to mold.
When running the AC, shut windows and doors to prevent humidity in the air that leads to condensation and mold.
Monitor the indoor humidity level in humid climates and keep it below 60 percent to prevent mold growth.
If the humidity level regularly is above 60 percent, check your AC is working properly. For example, is the temperature correct, is it cycling periodically, does it blow cold air, and are the coils clean?
Watch for standing water or dampness around sump pumps, freezers, hot water tanks, refrigerators, windows, and basement doors.
If groundwater is an issue in your area, cover the crawl space floor with a plastic barrier to trap the moisture in the ground and keep moisture vapor from rising into the home.
Consider using a dehumidifier if you have high humidity regularly.

InsureUS

At InsureUS in the Cypress, TX area, we understand how difficult it can be to fight indoor mold. We have a commitment to helping you keep your home safe and mold-free for your family, and help you ensure that you have the home insurance coverage necessary.

Distracted phone users drive up insurance prices

Posted on April 14, 2017March 8, 2017 by Victor Varma

Car insurance rates are going up and you can blame the smartphone.

Insurers expect rates to rise by 8 to 11 percent in 2017 as auto accidents rise along with distracted driving.

Auto insurers say distracted driving is so bad that they are beginning to see many auto accidents with no skid marks, according to the Wall Street Journal. The drivers literally never saw it coming.

Experts expected accidents to drop and rates to lower as car-makers adopted higher tech protections, but that has not happened.

According to Allstate Corp., the striking correlation between smartphone ownership and accidents is because people do more than talk on the phone when they are driving. Maybe talking was bad enough, but now drivers are making videos, texting and using the Internet.