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Welcome to the home of the Business Insurance Oracle, your guide to buying, understanding and using business insurance. Here you'll find inside information, tips and tricks, warnings and ways to avoid insurance disasters that happen just because you didn't know.

 

SOME COMMON INSURANCE CASTROPHES TO AVOID

Claims Calamities: When and how you file may determine how much or whether you get paid at all, or if the lawsuit against you gets defended.

Non-owned Autos:  How to send someone on a short errand & get sued for millions without insurance.

Friends on your Group Medical:  No good deed goes unpunished.

Business Service Workers:  How to discover an employee injured in your business who was never hired.

Employment Practices: Uninsured lawsuits for sexual-racial-or-whatever harassment, reprisals, rejections or other prohibited behavior towards employees, often based solely on nothing more than someone's outrageous story

Contractual Consequences:  How to sign a simple contract & take responsibility for someone else's liability without realizing it.

Premium Audits:  Lowballed premium deposits, horrific surprises later.

Crooked Agents: Talk about a license to steal.

Protection Warranties:  How to have your insurance declared worthless when you file your claim.

Valuation Clauses, Depreciation & Coinsurance:  The fine print that can cost you 50% or more in the settlement on damaged or lost property.

Theft: Inside jobs aren't covered & they happen a lot.

Insuring Everyone But You: Why your own medical or disability insurance may not cover you when you need it most.

Pollution: "We don't pollute . . . do we?"

Vacancy - Unoccupancy:  When your property is empty your policy may be void.

Death or Disability:  Odds are your business is much more likely to crash from your disability.