Liability Insurance

What You Need To Know Before Buying Life Insurance

You may not want to think about buying a life insurance policy, but the right one will protect your family from financial hardship in the event of your death. Not all life insurance plans are the same, so it pays to do some homework before you settle on one. Here are a couple of things to consider before making a purchase.

The Different Kinds of Life Insurance

The right life insurance policy for you will depend on your financial position and goals. These are the two main types:

  • Term policies: These are generally the least expensive coverage option. They will remain in effect for the duration of the term as long as you pay your premiums. They pay a benefit upon death.
  • Permanent insurance: These policies will remain in effect for the rest of your life as long as you pay the premiums. They also build equity and can be used as an investment account.

The Expenses You Want To Cover

Life insurance can cover so much more than final expenses. That is why you need to carefully weigh what you want a policy to do. It can be used to pay off major debt, such as a mortgage, vehicle loan, or student loan. It can also be used to fund future purchases, such as your children’s college tuition.

Before you purchase life insurance, be sure to invest your time in researching how you want to use the policy and which type will best help you reach those goals.

Liability Insurance

What Does Liability Insurance Cover for Water Companies?

No matter your industry, some form of liability insurance is necessary to protect your company. While most businesses start with general coverage, almost all of them benefit from a tailored policy that includes specific language covering common claim situations the client faces. Water treatment and supply companies are no different. So what does liability insurance for water companies cover? In addition to general liability coverage, it has public and professional liability portions tailored to the realities of your business’s role in the industry. Experienced agents can quote for practically any water-related business, whether the company is treating water, making treatment chemicals, working with boilers, or in water testing.

Hazardous Materials Coverage

Water companies are among the industries that need to invest seriously in pollution insurance, especially those that treat wastewater. That’s why a complete liability package has to include pollution provisions, as well as options for excess liability coverage that can be applied to any category of liability in the policy. A complete policy will also be built around your business assets and liabilities related to them, so it may include property insurance, commercial auto, cybercrime coverage, or other individualized provisions to make sure you are comprehensively covered. To learn more about what your company needs, schedule an insurance review with an agent who has experience in this industry. Comprehensive liability coverage is easier to manage and usually more cost-effective than seeking out individual policies for different kinds of liability insurance.