 What is Insurance Bond? |
| What is Insurance Bond?... |
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 I have an Nat west Advantage Gold Account and are using there travel insurance for the first time? |
| Im abit worried cause i have never used it before and im taking my two children with me, has anyone used this travel insurance and is it any ... |
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 mass health insurance? |
How do I find a list of dermatoligists on the mass health website? vI'm trying to find dermatoligists that accept mass health.
Additional Details
is there a website to see the ... |
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 Who keeps/gets the depreciation on insurance claims? |
| My house was damage a month ago by hail and i been in the process of hiring a contractor. I know that depreciation is the wear value of what something is worth over time. What i want to know is who ... |
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 Would you consider buying a rental insurance? |
| I've recently heard about if something should happen (like a fire), our belonging won't be insured by our landlord's insurance policy. I'm thinking about signing a renters insurance, which would ... |
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| Term or Life insurance, what would be your choice? |
| I'm 32 years old, I have a working wife (she makes a little more money than I'm doing right now) and a dependent, a 3 years old daughter. I've never thought before to insure my life or something like ... |
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| I'm not sure insurance plans are worth the money |
| I've done some checkins related to our insurance plan. Let's see: my wife and I pay around $380 a year. The thing is that none of us has been to the dentist this year, so we don't use our insurance. I... |
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| I'm not sure insurance plans are worth the money |
| I've done some checkins related to our insurance plan. Let's see: my wife and I pay around $380 a year. The thing is that none of us has been to the dentist this year, so we don't use our insurance. I... |
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| Are extended auto warranties worth the money? |
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I intend to buy a nice, quite cheap new car and was thinking if I need an extended car warranty. The one offered by the manufacturer is pretty standard: a three-year, 40.000 mile warranty. The type ... |
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| What do you think about Medicaid? |
| What do you think about Medicaid and the people who use this public health service? Do you or did you use this? When my sister got pregnant, she got Medicaid to cover her pregnancy and delivery. Some ... |
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| Ebay alternative? |
| I'm interested in an PayPal alternative, because in my country I cannot make purchases through Paypal. ... |
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| Progressive auto rates? |
| I signed an car insurance with progressive auto rates. First, they cost me 100 bucks a month and after three months they jumped at 200 bucks a month. If i don't pay them until the due term, I will ... |
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| How do you send money to your life partner avoiding the fees? |
| We agreed on not having joint accounts, which works for both of us. But when it comes to sending money from a bank account to another, we don't know how to proceed without paying fees. One solution ... |
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| How can I begin to build a good credit score under 21? |
| As stated in my question, I'm almost 20 and I have no credit history. I want to built my credit score to be able to obtain a line of credit for a car I want. Is it possible for me to obtain a ... |
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| Which bank can offer me the highest annual interest rate? |
| Which is the highest interest rate I can get and at what bank? I want to deposit my money into a savings account (around $100.000 a year) for a long period of time. I wanted to insure them, so I'm ... |
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dvassilian | Should I buy $500K limit for $4800/Yr. or $1M limit for $7400/Yr. of Employment Practices Liability Insurance? |
I am a small business owner with 2 bakery cafes in Orange County, California. I want to purchase Employment Practices Liability Insurance. I have 2 quotes and must decide on either the $500K limit policy or pay an extra $2400/Yr. for the $1M limit policy.
I don't want to overinsure and pay for extra coverage needlessly.
I am told by the broker that over 90% of claims are of the nuisance variety and go away within a few months. The defense costs for these are around $10K-$25K.
However, the attorney's average cost if one of these went to trial would be between $250K-$300K, with the balance left for the judgement if lost the trial.
The estimated value of the 2 cafes is $2M and is a S-Copration.
Any advice or referral is appreciated. Thanks. |
 
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slick rick
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Some concern has prompted you to consider this insurance. I am guessing you didn't have this coverage before. I deal with general liability and commercial auto claims and the premiums are ridiculously cheap on that end of it in comparison. At least for an operation your size. My thought is that to go for the higher coverage. You can write it off as a business expense and 500K just doesn't go as far as it used to. If one of the claims hits it is going to be big. Better safe than sorry especially since you have the write off at the end of the year. |
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LesElle
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I'd go with the lower limit. It is true that the defense costs reduce the available limits of liability, but as a small business I think you are being exceptionally prudent to buy this coverage in the first place. Keep in mind, too, that the carrier should be offering you risk management services like a hotline to call if you have suspected troubles with an employee and that sort of thing. You could even go with a $250K limit. Vast majority of claims typically settle rather than go to trial. |
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insurancegal
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See if they will allow you a deductible on the attorney expense piece. If you share the cost of the attorney -you will get a lower rate (25k or 50K deductible). How many employees do you have vs. how likely is it you'll need employment practices insurance? This is different than liability insurance which I'd be more concerned about being appropriately protected for in Orange County, CA |
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mbrcatz
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You need to look at your turnover, and the type of employee you have. Also, keep in mind most will settle before trial (but still incur mighty defense costs as they drag out, LOL).
If you have employees who've been there an average of 5 years or more, less than 20 employees, and management that's sensitive to discrimination issues, and a written employement policy/procedures, you're probably ok with the lower limit.
Unless, of course, you have an incident that requires the higher limit. |
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