Author: McGriff Williams

Does Your Business Need Flood Insurance?

Posted on by McGriff Williams in Insurance, Tips |

 Natural disasters can be devastating to businesses. While damage caused by some types of natural events—such as lightning or wind—will usually be covered by commercial property insurance, you need a special policy if you want protection from flood damage.

What is the definition of a flood?

A simple definition of a flood is an accumulation of water on normally dry land. The NFIP has a technical definition of a flood, which is as follows: A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from any of the following:

  • Overflow of inland or tidal waters
  • Unusual and rapid accumulation or runoff of surface waters from any source
  • Mudflow, which is defined as “A river of liquid and flowing mud on the surfaces of normally dry land areas, as when earth is carried by a current of water. Other earth movements such as landslide, slope failure, or a saturated soil mass moving by liquidity down a slope, are not mudflows.”
  • Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above

What are the common causes of flooding?

Floods can have a variety of causes, and floods can occur even in areas that don’t typically flood. Some of the common causes of flood include:

  • Storm surges after hurricanes
  • Heavy rain causing flash-flooding
  • Overflowing rivers or streams
  • Broken dams or levees
  • Mudslides due to heavy rain on hills or mountainsides
  • Fast melting snow, which can cause floods when the ground is frozen and unable to absorb water
  • Blocked storm drains, which may cause a flood even with moderate rainfall
  • New urban development which changes natural runoff patterns and reduces the ability of the land to drain properly

Does My Commercial Property Insurance Include Coverage for Flooding?

No. Damage from flooding, including flooding generated by hurricane-generated storm surge, typically is not covered under a standard commercial policy, including a Commercial Package Policy (CPP) or a Business Owners Policy (BOP)

Is Flood Insurance REQUIRED for my business?

Flood Insurance is not a requirement. However, if you own a business inside or outside of the high-risk flood area, you own a building or lease an office, you should consider purchasing flood insurance for the protection and peace of mind it brings. Many business owners, particularly those in high-risk flood areas, may be required to have flood insurance. If you have a mortgage from a federally regulated or insured lender you may be required to obtain flood coverage.

Whether your business is located in an area of common flooding or not, commercial flood insurance is worth exploring. Contact our agents at (352) 371-7977 or contact us so we can help you get started.

Sources:

https://www.iii.org/article/does-my-business-need-flood-insurance

https://disb.dc.gov/page/business-commercial-flood-insurance-coverage-faqs

The Importance of Conducting a Home Inventory for Renters Insurance

Posted on by McGriff Williams in Insurance, Tips |

Renters insurance is an essential investment that can protect your personal belongings and provide liability coverage in case of accidents or damages. But to ensure you receive the compensation you’re entitled to, conducting a home inventory is important. Here’s why a home inventory is essential for renters insurance.

  1. Helps determine the right coverage amount.

A home inventory can help you determine the right coverage amount for your renters insurance policy. By creating a list of all your personal belongings and their value, you can ensure you have enough coverage to replace them in case of damages or theft.

  1. Provides proof of ownership.

A home inventory can provide proof of ownership for your personal belongings in case of a claim. It can help you provide evidence of the damaged, lost, or stolen items and their value. This can make the claims process smoother and ensure you receive the compensation you’re entitled to.

  1. Saves time and reduces stress.

Creating a home inventory may seem like a daunting task, but it can save you time and reduce stress in case of a claim. By having a comprehensive list of your personal belongings and their value, you can quickly provide the information your insurance provider needs to process your claim.

  1. Makes updating your policy easier.

A home inventory can also make updating your renters insurance policy easier. If you acquire new personal belongings or sell or donate items, you can update your inventory and ensure you have the right coverage amount for your policy.

  1. Helps you prioritize safety.

A home inventory can also help you prioritize safety in your rental unit. By creating a list of your personal belongings, you can identify potential hazards, such as overloaded electrical outlets or unstable furniture, and take steps to address them.

In conclusion, conducting a home inventory is essential for renters insurance. It can help you determine the right coverage amount, provide proof of ownership, save time and reduce stress, make updating your policy easier, and help you prioritize safety in your rental unit. Take the time to create a home inventory and ensure you have the protection you need for your personal belongings.

Summer Work Safety: Tips for Staying Safe and Productive While Working in the Heat

Posted on by McGriff Williams in Tips |

As the temperatures rise during the summer months, it’s crucial to prioritize safety while working outdoors or in hot environments. Exposure to excessive heat can lead to heat-related illnesses, which can range from mild heat cramps to severe heat exhaustion or even life-threatening heat stroke. Here are some essential tips for staying safe and productive while working in the heat:

  1. Stay Hydrated: Drink plenty of water before, during, and after your work shifts. Avoid consuming excessive amounts of caffeine or alcohol, which can contribute to dehydration. Keep a water bottle handy and take regular water breaks to stay hydrated.
  2. Take Frequent Breaks: Schedule frequent rest breaks in shaded or cooler areas to give your body a chance to cool down. Avoid prolonged exposure to direct sunlight, and take breaks in shaded areas whenever possible.
  3. Wear Appropriate Clothing: Choose lightweight, loose-fitting, and light-colored clothing that allows your skin to breathe. Wear a wide-brimmed hat and use sunscreen to protect your skin from harmful UV rays.
  4. Use Sun Protection: Apply sunscreen with a high SPF rating to all exposed skin, including your face, neck, and arms. Reapply sunscreen every two hours or more frequently if you are sweating heavily.
  5. Use Cooling Measures: Use cooling measures, such as misting fans, wet towels, or cooling vests, to help lower your body temperature. Take advantage of shaded or air-conditioned areas during breaks to cool down.
  6. Know the Signs of Heat-Related Illnesses: Educate yourself and your colleagues about the signs and symptoms of heat-related illnesses, such as dizziness, nausea, weakness, headache, cramps, and confusion. If you or a colleague experience any of these symptoms, take immediate action and seek medical attention.
  7. Work During Cooler Hours: Whenever possible, schedule physically demanding tasks during the cooler hours of the day, such as an early morning or late evening, to reduce heat exposure.
  8. Use Proper Equipment: Use appropriate tools and equipment designed for hot conditions and provide proper ventilation and insulation. Avoid using heavy machinery or tools that generate excessive heat without proper precautions.
  9. Buddy System: Implement a buddy system where workers can look out for each other and recognize the signs of heat-related illnesses. Encourage workers to monitor each other and seek help if needed.
  10. Training and Education: Provide training and education to workers about heat-related illnesses, prevention, and response strategies. Ensure workers are aware of the company’s heat safety policies and procedures.

Remember, heat-related illnesses are preventable with proper precautions and awareness. By following these tips, you can stay safe and productive while working in the heat during the summer months. Stay vigilant, take care of yourself and your colleagues, and make sure to prioritize your health and safety in the workplace.

Tips to Prevent Medicare Fraud

Posted on by McGriff Williams in Tips |

Con artists may try to get your Medicare Number or personal information so they can steal your identity and commit Medicare fraud. Medicare fraud results in higher health care costs and taxes for everyone. At McGriff Williams Insurance , it’s important to us that you and your identity stay safe so we put together the following list of tips to help you prevent Medicare fraud.

Guard your Medicare card like it’s a credit card. Remember:

  • Medicare will never contact you for your Medicare Number or other personal information unless you’ve given them permission in advance.
  • Medicare will never call you to sell you anything.
  • You may get calls from people promising you things if you give them a Medicare Number. Don’t do it.
  • Medicare will never visit you at your home.
  • Medicare can’t enroll you over the phone unless you called first.

Do’s

  • Protect your Medicare Number and your Social Security Number.
  • Use a calendar to record all of your doctor’s appointments and any tests you get.
  • Click here to learn more about Medicare and recent scams.

Don’ts

  • Give your Medicare card, Medicare Number, Social Security card, or Social Security Number to anyone except your doctor or people you know should have it.
  • Accept offers of money or gifts for free medical care.
  • Allow anyone, except your doctor or other Medicare providers, to review your medical records or recommend services.
  • Contact your doctor to request a service that you don’t need.

Contact McGriff Williams Insurance at https://mcgriffwilliams.com/contact or call us (352) 371-7977 today to discuss your insurance needs with an agent!

Source:

https://www.medicare.gov/basics/reporting-medicare-fraud-and-abuse

https://www.medicare.gov/health-drug-plans/health-plans/your-coverage-options/plan-marketing-rules

Navigating the Seas of Protection: A Comprehensive Guide to Boat Insurance

Posted on by McGriff Williams in Boat Insurance, Tips |

Ah, the open waters! There’s something truly liberating about setting sail and exploring the vast expanse of the ocean. But with the freedom of owning a boat comes a responsibility to protect your vessel and those aboard. That’s where boat insurance comes into play. In this blog post, we’ll dive deep into the world of boat insurance, exploring different types of coverage, including marine insurance, personal leisure, commercial use, and charter lines.

Understanding Marine Insurance

Marine insurance serves as a broad term encompassing insurance coverage for various types of vessels, including boats, yachts, sailboats, and more. It typically provides protection against risks such as theft, damage, accidents, and liability. Marine insurance can be further categorized into personal leisure and commercial use insurance, depending on the purpose of your boat.

Personal Leisure Boat Insurance

For boat owners who use their vessels primarily for personal leisure activities, personal boat insurance is a necessity. This type of coverage is designed to protect your boat and its equipment, as well as provide liability coverage in case of accidents that cause damage to other boats or injuries to individuals. Personal leisure boat insurance can be customized based on the value of your boat, navigational range, and additional coverage options such as towing, salvage, and fuel spill liability.

Commercial Use Boat Insurance

If you utilize your boat for commercial purposes, such as chartering, fishing, or transporting goods, personal leisure boat insurance may not be sufficient. Commercial boat insurance is tailored to the specific needs of businesses and typically includes coverage for business equipment, cargo, passengers, and liability arising from commercial activities. Depending on the nature of your business, additional endorsements like pollution liability or professional liability insurance may also be necessary.

Charter Lines Insurance

Charter lines operate in a unique space, as they provide boat rentals to individuals or groups for recreational purposes. Boat owners who engage in chartering their vessels should consider obtaining charter lines insurance. This specialized coverage protects both the boat owner and the charterer, providing liability coverage in case of accidents, damage to the boat, or injuries to the charterer. It’s crucial for charter lines operators to carefully evaluate their insurance needs and select coverage that adequately protects their assets and passengers.

Key Factors to Consider

When exploring boat insurance options, several factors deserve consideration. These include:

  • Boat Value and Replacement Cost: Determine the value of your boat and opt for insurance coverage that adequately reflects its worth. Replacement cost coverage ensures that you receive compensation equivalent to the current market value of the boat in case of a total loss.
  • Navigation Area: Inform your insurance provider about the geographical limits within which you intend to operate your boat. Some policies have restrictions on navigational range, and you should ensure your coverage aligns with your intended usage.
  • Liability Coverage: Liability coverage is critical in protecting you against legal claims arising from accidents or injuries caused by your boat. Adequate liability limits will provide peace of mind in the event of an unforeseen incident.
  • Deductibles and Premiums: Understand the deductibles and premiums associated with your policy. A higher deductible might lower your premiums, but be sure to choose an amount that you can comfortably afford in case of a claim.

Owning a boat is a thrilling experience, but it’s essential to navigate the waters of boat insurance to protect your investment and ensure the safety of everyone on board. Whether you’re a leisure boat owner, commercial operator, or charter lines provider, understanding the nuances of marine insurance and selecting the right coverage will provide peace of mind and financial security. So, hoist your sails, set a course, and embark on your nautical adventures with the confidence of being well protected!