Sensible Insurance Coverage for Real Estate Brokers

Sensible Insurance Coverage

As a real estate broker, part of the excitement of your line of work is being able to help people find the properties that will make their dreams come true. Whether you specialize in residential spaces or you’re more involved in the ups and downs of the commercial industry, you absolutely must consider your own protection in this field. Brokers may help people find real estate, but they also put themselves at risk for a number of complicated legal problems. This is where the right insurance comes into play.

Begin With Liability Coverage

First, you want to make sure you have real estate broker professional liability insurance. Brokers typically have several agents working under them. Professional liability coverage not only protects the broker, but also the individuals who work beneath the broker. What’s more, your standard liability package will include errors and omissions coverage, helping you with some of the more commonplace problems of your industry. Additional points to focus on with your plan can include:

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By looking at a number of different fronts when selecting your insurance coverage, you can see better results from your efforts. Find what works best for you and keep yourself safe while helping others find properties they adore.

Why Pre Trip Inspections Are an Important Safety Tool

Safety Tool

There are plenty of things that can go wrong when you spend long hours on the road. Truck drivers know this, and take the necessary precautions to minimize risks. One of those precautions is performing a thorough inspection of their vehicle before heading out. When you consider what a pre trip inspection can reveal, it is easy to see why they are such an important aspect of maintaining a safe working environment.

Inspections Are Required

Performing a pre-trip inspection is a requirement for commercial truck drivers. In the event of an accident, the inspection log is one of the first places investigators will look. Rules do vary among companies and between states, so be sure to know what you need to check before getting started.

They Help You Find Potential Safety Issues

Inspections can turn up a host of safety problems. In addition to problems with brakes or the steering mechanism, you may notice worn wipers that can limit visibility, broken indicator lights or damaged tires during your check. It is also a good opportunity to identify any missing tarps or tie-down components before you need them.

Take Steps To Keep Yourself and Others Safe

Performing a pre-trip inspection gives you a chance to examine the major components of your vehicle. It is an excellent way to identify potential problems and keep up with necessary maintenance tasks. Combined with an appropriate insurance policy, it can help you minimize risks and liability while performing your job.

Insurance for Nonprofits

Insurance for Nonprofits

Nonprofits are unique from regular businesses in that they don’t have a lot of formal employees. Instead, they have volunteers who still need to be covered in the case of accidents and injuries. A nonprofit that doesn’t have basic insurance coverage risks being sued over basic liabilities. Here are insurance types to consider for protecting your volunteers.

General Liability

First and foremost, general liability insurance simply covers anyone who is injured on your property or injured due to your negligence. It protects you from being sued for negligence by volunteers. This does not cover you or your property but is purely to keep you out of lawsuits and courtrooms.

Directors and Officers Liability

This insurance specifically protects your company and anyone working for it, including volunteers, from being sued for acts that caused harm, including breaches of duty and errors. You can even be protected from libel and copyright infringement.

Workers Comp

Workers’ compensation is not a part of volunteer insurance programs. It only covers official employees and does not extend to volunteers. Many insurance companies have add-ons for including volunteers in some portion of their other policies. If you are a company with many volunteers, you should consider these options before work begins.

Getting insurance for volunteers can be trickier than it seems. Making sure you have the right insurance to cover them can prevent hassle down the road.

Risk Assessment in Cannabis-Related Industries

Cannabis

Since the passing of regulation across the nation that allows for both medical and recreational use of marijuana, there has been an increase in the number of marijuana-based businesses operating across the country to meet the demand. There are numerous steps in the process to get to the final product, and hemp harvesters are often most important in the initial growth and reaping stages.  Despite being a third-party participant in the industry, these workers and operations have just as much liability as those who dispense hemp products.

Various Liability Concerns

Within the harvesting process, there are concerns over crop loss, equipment failure, and product spoilage. For large operations, the standard commercial concerns of general liability, workers’ compensation, and automotive liability are also present. Comprehensive insurance services that are uniquely written for the cannabis and industry-related businesses are a way to protect from the financial and legal fallout of a claim.

Risk Management Options

Hemp opens new doors for the farming industry, and given the new economic opportunities, the U.S. Department of Agriculture has announced two programs that will help protect the crops of hemp producers in the event of natural disasters. Risk management strategies, in addition to insurance, include knowing the compliance regulations for growing a product, conducting risk assessment audits over operations, and keeping employees well-trained and aware of risk concerns.

New regulations will continue to affect the hemp and cannabis production industry. Make sure your company has the right protections in place.

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