Ken McKenna
FSPA President
We all have the necessity to have insurance but how often do you check to make sure you have the right insurance or if you have enough? It is the job of your agent to keep you informed but you still need to ask the right questions. Let’s face it, if something happens, you will be the one paying, not the insurance agent.
I suggest trying to meet with your agent once a year, but not at the same time of your renewal. This way you can review all the details and coverage without the pressure of your insurance expiring. Also it is imperative to make sure that you have pool popping insurance if you ever get involved in draining a pool. Even the best contractors and service companies can make a mistake that without insurance could cost you tens of thousands of dollars.
Automobile insurance is something we all have and can create the most claims and raise your rates or even get your policy cancelled. Most insurance companies suggest your employees sign contracts regarding several items. One is to take responsibility for any accident that occurs and is their fault and pay the deductible. This is a great way to have your employee realize the importance of being safe. Second, have them sign a document that relates to texting and driving. Third, make a company policy requiring them to sign an agreement to only use vehicles during work hours and never for personal use. All of these can help you save money and hold your employees accountable for their actions.
Should an accident occur, make sure you send your employee for a drug test. This needs to be a company policy and needs to be done in every situation without discrimination. This can aid you in a workers’ compensation case if the employee was drinking or doing drugs.
Don’t be afraid to shop around for your insurance agent to make sure you are getting the best rates and coverage. Just as our customers get multiple bids, you should also look to get bids. If anything it will educate you more on what is out there and maybe even save you money.
