Key Benefits:

When you ask the Saperstein Agency Inc. to review your current insurance package whether it is for your personal needs or for your company, we an assure you that we will take a professional educated approach. Anyone can simply duplicate your coverage's and offer you a reduction in price. That is not a valuable service to you.   We will custom design a comprehensive insurance package for your business that only provides the necessary coverage's. Since we represent many quality insurance companies, we will obtain the most competitively priced quote for you from several different companies. We will then compare these quotes and give you our advice as to which one we think best suites your needs.  

Our first quote to you is our best. Your current insurance broker should also offer you their best renewal quote available right from the start.   

Our review is a comprehensive analysis of all of your business operations, exposures and needs. We will take the time to fully understand your business and will provide you with a written proposal of insurance which will be custom designed specifically for you.  When you ask us for our advice, we are hopeful that you will become a client.

Most consulting firms or consultants charge a fee for this service. They ultimately work with an agency or broker such as us in order to obtain the information for you. We have been asked by many "consultants" over the years to provide them with a competitively priced proposal for one of their customers. Our review and advice is free, whether you pay a fee to a consultant or not. . All we ask is your commitment to make a change if we are able to prove to you that we can provide you with a better insurance plan. Please realize that their is a tremendous amount of time and effort on our part that goes into reviewing and quoting on your business insurance. Please don't waste our time if you have no intentions of making a change. We do not want to waste your time either.

We have prepared the following outline for you to review. This will help you to better understand whether or not you have the proper coverage's to protect your business or personal belongings adequately. If you are doubtful or do not understand any of these issues, please contact our office for our free review service.                                      

                  Commercial or Business Insurance Exposures

Property concerns:

Is your building or contents covered on an Agreed Value, Replacement Cost, Special or Basic basis ? This will determine the basis for payment from the insurance company in the event of a loss. There is a drastic difference in coverage's, however, the cost may be only minimal. 

Does your policy provide a coinsurance penalty in the event of a loss? Policies are generally issued with an 80%, 90%, 100% or 0 coinsurance limit. If your building or property is not covered properly according to the insurance company, your claim payment may be penalized and you may not receive the necessary funds to reimburse you completely. 

Coinsurance and coverage basis aside, most property policies pay you to rebuild your building back to the same standards and construction as it was before the loss. This does not take into consideration your state or local legal requirements to rebuild according to current building and construction codes. Such as handicap access ramps and doorways, bathrooms etc. Steel roofs and beams in lieu of wood frame, electrical and plumbing upgrades. In most instances, before you will be allowed to reoccupy your premises it must be reconstructed properly. These additional costs are not provided on a standard property policy.

As a manufacturer or distributor - in the event of a loss how does your insurance company reimburse you ?  Do they pay your actual cost for the goods damaged or do they pay an amount equal to what you could have sold these items for ? In the event of a loss to your product, you could also loose the income that would have been generated from the sale of those goods if not insured properly.  

Is your production machinery covered against mechanical breakdown and the loss of business that would result from it ? How about your computers and other electrical  equipment ?   

If there is an off premises power failure such as electricity or water will your business be interrupted ?  And if so, how much income would you loose if the event lasted for several days ?

How much income would you loose if you were to suffer a fire or other loss ? Would your customers leave you and find another vendor or manufacturer if they could not get their product made or distributed immediately ?  Does your policy provide you with reimbursement for loss of income because of this claim ? What  extra expense's would you incur associated with operating your business at another location while your primary location is being reconstructed ? You must anticipate additional costs such as increased rent, leased telephones, copiers, computers, fax's, machinery etc.   Also, would you have to terminate key employees because you did not have work for them or could not afford to continue their pay during the rebuilding of your business ?   Your additional cost to continue their salary's after a loss, is an important part of your insurance protection.

Liability concerns:

Since you can be held liable for the actions of your employees while they are driving their own cars to or from work or on any errands during business hours, does your liability policy provide you with coverage if your company is sued due to their actions ?

Does your company have a health insurance plan ? Are you specifically insured if you are sued by one of your employees for not providing the proper insurance, adequate insurance or simply not providing them with insurance inadvertently ?

Does your company own property ? What if someone dumps debris on your property and the city, state or local government determines that it is considered pollution ? ie. paint cans, oil drums, construction debris such as lead or asbestos etc. Does your policy specifically provide Pollution coverage which would help cover the costs of removing this debris, testing the grounds and cleansing the soil around it ?    Are you anticipating the purchase of new property ? You are generally responsible for the removal costs of all hidden "pollution" from that property.

What if an employee sues you for discrimination because you did not promote him/her before you hired or promoted someone else at a higher salary ? Or, what if one employee has been sexually harassing another employee without your knowledge ?   The last time you terminated an employee, if they claimed that they were terminated because of gender or racial discrimination would you have the proper coverage? Unless you have a very specialized coverage you may have a serious gap in your insurance package. These lawsuits can easily cost $50,000 to $100,000 just to defend whether you are right or wrong. Judgements can be in the mid six figures ! Ordinary liability policies do not provide coverage for these types of claims.                                                                                                  

Does your company host a Christmas or Holiday party ? If so, are you sure that if you were sued because one of your employees drank too much and caused an injury to himself or someone else, your Liability insurance would defend and protect you. Probably not unless you had specific coverage for this - coverage which cost only pennies.    

If you are a manufacturer or distributor, does your current insurance policy provide you with reimbursement for the costs associated with the recall of any of your products ?

If your company advertises anywhere, yellow pages, local papers, TV, radio, flyers etc. do you have coverage if you are sued because another company or individual accuses you of stealing or copying their ads ?

Does your company design, engineer or test any product ? Ordinary liability policies do not provide coverage for bodily injury or property damage that is caused due to your error or omission in the designing or testing of a product.

Any company that manufactures or distributes any type of product has a product liability exposure. Many companies think that because they didn't make it, they're not responsible ! If you sold it, made it, gave it to someone, or in some states even looked or thought about it - you are responsible to some degree. You must have the proper Products Liability. You may be surprised how inexpensive it really is.

There are many exposures that a company has. You can be protected properly against all them. As you know, you can spend alot of money and time in trying to accomplish this. Or you can associate yourself with a professional, well educated and experienced insurance broker. Your broker should be able to educate you enough so that you understand why you need certain coverage's. Your broker should also be able to present to you the most affordable way of obtaining these coverage's. You must be confident that your insurance broker is providing you with the most affordable and comprehensive insurance plan that is available.

Do you have a concern regarding your insurance plan ? If you are not sure of any of the above mentioned situations, please use the following request form if you would like us to contact you to discuss any of theses issues. We would be pleased to review and quote on your business insurance.