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The 10 Worst Cities for Drivers

Consumer advice website NerdWallet recently compiled a list of the 10 worst cities to drive in, based off five different criteria:

  • number of days of precipitation
  • annual hours of delay per commuter
  • gas prices
  • population density
  • average city car insurance rates.

Here are the results:

  1. New York City, NY
  2. Detroit, MI
  3. San Francisco, CA
  4. Chicago, IL
  5. Washington, DC
  6. Seattle, WA
  7. Boston, MA
  8. Miami, FL
  9. Honolulu, HI
  10. Oakland, CA

I’m absolutely shocked that Los Angeles nor Orange County, CA is on this list. As the most dense city in America, New York City takes the top spot. While many of the others on this list are very dense cities as well, large

public transportation systems can be found in each and offer a less stressful option for getting around (Not true for LA or OC!)

-JK

The Ins and Outs of Small Business Insurance

Being an entrepreneur makes you the boss, but along with getting to choose your own hours, location, and business plan, it also means that you’re responsible for a lot of other things like commercial/business insurance. There’s a lot more to business insurance than getting the lowest business insurance quotes. It means understanding your business’s unique needs and the potential hazards that can threaten its success.

This brief video from the Insurance Information Institute touches on the ins and outs of small business insurance, including coverage for:

Credit: Insurance Information Institute

-JK

An Audience Was Tricked Into Using Their Phones To See What Happens When You Text And Drive

Volkswagen created a pretty impressive PSA for an audience in Hong Kong that shows what happens when you look at your phone while driving.

After they were seated, the audience was shown a first-person view of a car on the road.

Using a location-based broadcaster, a person hiding upstairs then sent a text to everyone in the theater.

See what happens next…

“Mobile use is now the leading cause of death behind the wheel,” the ad finished.

Good work Volkswagen. I thought this was a clever and thoughtful message.

Credit: BuzzFeed

-JK

What’s Wrong With This Picture?

What’s Wrong With This Picture?

Powerful Driving-Safety Ad

This powerful and simple driving safety advertisement from the New Zealand Transport Agency will really make you think about speeding and will probably give you some serious goosebumps when you watch it.

From Mashable: the public-service announcement dissects an accident by freezing the moment before impact. A man who pulled out of an intersection too fast pleads for his life and that of his son. The request falls on deaf ears, though. “I’m going too fast,” replies the driver of the oncoming car. The point: Other drivers make mistakes, too, so be careful.

Take a look for yourself:

Be careful out there and make sure you think of others first before yourself when you’re running late for that party, for work, or wherever else you’re trying get to. Give yourself plenty of time so that you’re not putting yourself in the situation where you feel the need to speed.

-JK

Insurance For a Men’s Retail Clothing Store

I spent some time this Saturday morning working up some insurance quotes and options for a new men’s clothing retail store opening this Fall in Laguna Beach (CA). We’re looking into property, general liability, and workers’ compensation insurance coverage for the store.

Retail Clothing InsuranceSince my brain is on the subject of insurance for retail clothing stores, i wanted to share a brief risk summary that you should think about if you own a retail clothing store.

Property exposures are limited, but if a fire should occur, the clothing provides a combustible fire load and is highly susceptible to water and smoke damage. Theft may be a concern if any of the items sold have high value. Appropriate security measures should be in place.

Crime exposures are from Employee Dishonesty and Theft of Money and Securities either from holdup or safe burglary. Employee dishonesty is controlled through inventory monitoring, control of the cash register, disciplined controls and division of duties. Theft prevention requires controls of monies kept in the cash drawers and regular bank drops.

Premises liability is always a concern in a retail exposure where the public comes to the premises. Floor covering must be in good condition with no frayed or worn spots on carpet and no cracks or holes in flooring. Sufficient exits must be provided and be well-marked, with backup systems in case of power failure. Dressing rooms must be well maintained and privacy carefully guarded. Shoplifting procedures must be fully understood and utilized by all employees.

Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slip and fall. If the business is open after dark, adequate lighting and appropriate security for the area must be present.

Products liability for this type of operation is normally low. Direct importing of clothes and tailoring can add to the exposure.

Workers compensation exposure is from lifting, which can cause back injury, hernia, sprain, and strain. What kind of training do employees receive, and what types of material lifting or conveying devices are used? If tailoring services are offered, injuries due to sewing and cutting injuries are possible.

Minimum recommended coverage:

Business Personal Property, Business Income, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, General Liability, Employee Benefits, Umbrella, Hired and Nonownership Auto, Workers Compensation. Many of these coverage’s can be included within a single Businessowners insurance policy.

Other coverages to consider:

Building, Leasehold Interest, Real Property Legal Liability, Forgery, Computer Fraud, Bailees Customers, Fine Arts, Employment Related Practices, Business Auto Liability and Physical Damage.

Have a retail clothing store and need some guidance on your insurance? You can contact me anytime to discuss. I’d be happy to help you out.

-JK

Source: Rough Notes, Inc

How Are Commercial Insurance Premiums Determined?

The way an insurance policy is rated determines how the policy premium is developed. Rating factors vary based on the line of insurance you are purchasing.

CalculatorIf you are purchasing commercial property insurance, the building rating formula is based on factors including square footage, type of construction, sprinklered or non-sprinklered, the fire protection classification, etc.

If you are purchasing general liability insurance, the rating formula can be based on square footage, payroll, or gross sales depending on the general liability classification codes used. These are known as rating exposures.

Once the rating exposures are identified and the deductibles selected (usually from information you have provided on the application), the premium is calculated by a simple formula: rate x exposure = premium. The deductible amount you choose will be calculated in the rate. The higher the deductible (the amount you choose to self-insure) the lower the rate. By utilizing higher deductibles, you can bring your premium cost down; however, you do not want to jeopardize your company’s financial future by choosing overly large deductibles.

Speak with your broker-agent for the deductible options available to you when purchasing commercial insurance.

The basic rating equation most often utilizes other modification factors, which can include experience modifications, schedule rating, or judgment rating. Because rating formulas can range from simple to complex, depending on the line of insurance, it is important to discuss how your policy is rated and how the policy premium is calculated with your broker-agent.

Source: California Department of Insurance

-JK

Drunk Driver Nearly Causes Multiple Accidents – Ends Up Crashing

Check out this cliff-hanger video. This drunk driver nearly causes multiple accidents but ends up crashing and putting his/her own life in jeopardy. Some tense moments on this two lane highway!

According to Mothers Against Drunk Driving (MADD), out of every three traffic deaths involve drunk driving. Every 53 minutes on average, someone is killed in a drunk driving crash (9,878 people in total in 2011). Every 90 seconds, someone is injured because of this entirely preventable crime.

About one-third of the drunk driving problem – arrests, crashes, deaths, and injuries – comes from repeat offenders. At any given point we potentially share the roads with 2 million people with three or more drunk driving offenses.

What to do when you spot an Impaired Driver

  • Stay far behind the suspected drunk driver.
  • Get out of the way and expect the unexpected.
  • Wear your safety belt (and make sure that any children or other passengers have their safety belts fastened as well) – It is one of your best defenses against a drunk driver.
  • Stop right away and look for a phone.
  • Report suspected and impaired drivers to the California Highway Patrol or local police by dialing 911. Give the location, direction of travel, and description of the car and driver’s behavior.

What NOT to do when you spot an Impaired Driver

  • Do not try to pass the car!
  • Do not try to stop the vehicle.
  • Do not follow too closely. The car may stop abruptly.
  • Do not attempt to act in the capacity of the police.
  • Do not try to detain or confront the driver.
  • Call the local police or 911 and let them take care of it!

Most of the time, the signs of a drunk driver aren’t as obvious as the white Ranger in this video. Stay alert on the roads out there!

JK

Professional Liability Insurance Coverage For Technology Businesses

Every business has unique risks that can seriously harm an organization’s operations if not properly protected against. As a business utilizing technology to produce and deliver products and/or services, it’s important to recognize and take precautions against risks that your Commercial General Liability insurance coverage does not include.

Technology Professional Liability insurance coverage, also referred to as Tech Errors and Omissions (E&O) insurance, is essential for companies using technology because it addresses a lack of protection in Commercial General Liability policies, which typically do not cover claims of third-party financial harm.

Who needs Tech E&O Coverage?

Not only technology industry businesses have technology-related risks. Most companies today utilize technology in some part of providing a service or product and need to take the necessary precautions. To ensure your company is covering all bases, a full risk management assessment is needed.

What does Tech E&O cover?

Tech E&O insurance  manages risks, resulting from providing a product or service to a third party, that are not covered by a Commercial General Liability insurance policy. Specifically, Tech E&O insurance protects your business in the event that a third party suffers a financial loss due to your product or service not performing as it was intended or expected, including the event of an error or omission committed by your company. These insurance policies also cover defense costs in the event of litigation.

Tech E&O coverage would apply in the following situations:

  • A mistake was made and an error in the code of a website or program your company produced isn’t found before it is implemented. A third party depends on this product or service to operate its business and its operations are stalled due to the error, causing them a financial loss.
  • A part your company produces is installed in a piece of equipment. After a short amount of time, the component simply stops working, causing the equipment to fail to work, but otherwise not damaging anything or hurting anyone. The third party that relies on this equipment for its business has to stop operations and suffers a financial loss.
  • An employee of your company recommends that a client make an adjustment to its network. The client follows the advice and its network crashes as a result, causing a time and financial loss for its operations.

In all of these cases, Commercial General Liability insurance coverage would not cover a claim or any costs of litigation because of the presence of an error and the lack of resulting physical damage to the third party’s property.

Contact me anytime to learn more about protecting yourself with a comprehensive professional liability insurance policy.

Credit: Zywave

Rolling Deep…Literally

I found this picture on Google+ today. Talking about rolling deep! Check this guy out…

Rolling Deep

Thinking about purchasing a used car? If so, protect yourself from buying a flood damaged vehicle by doing a little research and by having the vehicle thoroughly checked by a mechanic.

Every year, tens of thousands of cars are damaged by floodwaters and more than half end up back on the road. Damaged cars are often repaired cosmetically and moved to adjacent states or other areas of the country where many are sold to unsuspecting consumers. These floodwaters can cause damage to a vehicle’s computer and electrical systems, as well as potentially causing anti-lock braking and airbag systems to malfunction.

Used Car Buying Tips: Detecting and Avoiding Flood Damaged Vehicles (from CARFAX Vehicle History Reports)

To help you avoid cars with water damage, CARFAX offers these tips:

  • Check the trunk, glove compartment, the dashboard and below the seats for signs of water damage such as silt, mud or rust.
  • Examine upholstery and carpeting closely; if it doesn’t match the interior or fits loosely, it may have been replaced. Discolored, faded or stained materials could indicate water damage.
  • Turn the ignition key and make sure that accessory and warning lights and gauges come on and work properly. Make sure the airbag and ABS lights come on.
  • Test lights (interior and exterior), windshield wipers, turn signals, cigarette lighter, radio, heater and air conditioner several times to make sure they work.
  • Flex some of the wires beneath the dashboard. Wet wires will become brittle upon drying and may crack.
  • Take a deep breath and smell for musty odors from mildew.
  • Go to a trusted mechanic for a pre-purchase inspection. Always get vehicles checked BEFORE handing over any money.
  • Ask to see a vehicle history report.

Facts: Flood Damage from Hurricanes and Tropical Storms

  •  Hurricane Floyd (1999) damaged 75,000 vehicles and than half were put back out on the road.
  • Tropical Storm Allison (2001) – More than 95,000 vehicles flooded by the most extensive tropical storm in U.S. history.
  • Hurricane Ivan (2004) – Left more than 100,000 cars submerged in floodwaters throughout the Southeast.
  • Hurricane Katrina, Hurricane Rita and Hurricane Wilma (2005) – claimed more than 600,000 cars across the Gulf Coast. Many of these cars still are showing up for sale around the country.
  • Hurricane Ike (2008) – more than 100,000 cars in Texas and Louisiana, from Galveston and Houston over to Baton Rouge, were left underwater.

If all else fails, you can do what the dude above did and you won’t have to worry about flood damage to your car.

JK

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