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What’s the Difference Between Personal and Commercial Auto Insurance?

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What’s the Difference Between Personal and Commercial Auto Insurance?

How personal and commercial auto coverage differs.

If your work operations require the use of company or personal vehicles, then you need the protection offered by commercial auto insurance.  But why do business owners need to secure commercial auto policies, and how are they different than personal policies?  Here’s what you need to know.

In actuality, personal and commercial auto insurance are not that different.  In fact, both types of insurance essentially offer the same types of coverage.  For instance, personal and commercial auto policies both offer coverage for collision, comprehensive, liability, and so on.

The main difference between these two forms of insurance is the amount of liability coverage each offers.  Because businesses have more assets and face a higher risk for liability lawsuits than individual drivers, commercial auto insurance policies have much higher liability coverage limits than personal policies.  Additionally, commercial policies are also equipped to cover a wider array of vehicles, such as delivery vans, shipping trucks, as well as standard cars.

There is also a special form of commercial auto insurance designed to cover heavy-duty vehicles.  Because heavy vehicles cause more damage in an accident than light vehicles, they need higher liability coverage limits.  So, if your business owns things like minibuses, cement mixers, semi-trucks, tow-trucks, and so on, then talk with your commercial insurance provider to make sure you have the right amount of coverage.

Commercial auto policies are also more expensive than personal car insurance.  This is because businesses face more driving risks and require higher liability coverage limits.  Naturally, more coverage means higher rates.  Commercial auto policies are also more expensive than personal ones because there are usually more drivers and vehicles insured under the policy.

This is what you need to know about the difference between personal and commercial auto insurance.  Do you need help securing coverage for your company vehicles?  If so, then contact the experts at James Page Insurance.  We are ready to assist you with all your business insurance needs today.

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Strategies to Protect Your Business’s Digital Assets

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Strategies to Protect Your Business’s Digital Assets

Try out these suggestions to keep your company’s online information safe.

As a business owner, you are responsible for safeguarding your business’s and customers’ personal information.  This is why it’s so important to have a cybersecurity plan in place.  Here are some of the steps that you can take to protect your company’s digital assets.

  • Limit Employee Access

One of the best ways to reduce your risk of a data breach is by limiting the number of employees who can access sensitive customer and business information.  When you reduce the number of employees with security clearance, you reduce your risk for a leak.  Additionally, if a leak does take place, then you have a smaller pool of suspects to investigate.

  • Offer Extensive Employee Training

The employees that are allowed to access private information should undergo comprehensive cybersecurity training, so they understand the risks of a major data breach.  During your staff training, you should explain your company’s login requirements, establish appropriate Internet use guidelines, and detail the penalties for violating company security policies.  You should also establish rules for handling, protecting, and inputting sensitive customer data to limit exposure.

  • Protect Your Connected Devices

Your company’s computers, laptops, tablets, and other connected devices should all be protected by strong antivirus software.  Installing this type of software will help to protect your company’s network from being infiltrated by viruses, malware, and other online threats.  Make sure you update your software frequently to ensure that you have the most updated protection available.

  • Safeguard Your Internet Connection

A firewall is a set of programs that prevent outsiders from accessing information on a private network.  You should make sure that your operating system’s firewall is enabled or, if your system is not currently equipped with firewall capabilities, then install firewall software.  If your employees are allowed to work from home, then make sure that their home systems are protected by a firewall to ensure that they are not hacked.

These are some of the strategies that you should employ to protect your business’s online information.  Want another way to keep your company safe?  Then make sure you have the right commercial insurance protections in place.  For assistance with all your business insurance needs, contact the experts at James Page Insurance to get started today.

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Common Home Insurance Coverage Questions Answered

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Common Home Insurance Coverage Questions Answered

Understanding your homeowners insurance.

Just because you have homeowners insurance, doesn’t mean that it will protect you from everything.  Unfortunately, many homeowners are not clear on the specifics of their coverage.  To ensure that you understand your policy, here are the answers to some of the most common home insurance coverage questions.

Does home insurance cover water damage?

When it comes to water damage, homeowners insurance covers certain types but not others.  For instance, if the cause of water damage is sudden and accidental, then it will be covered by your insurance.  For instance, if your washing machine suddenly breaks down or a pipe suddenly bursts, then your insurance will cover the water damage caused by this event, including the damage caused to your personal possessions.

However, your home insurance will not cover water damage if it is the result of your negligence.  For instance, if you have a pipe that is slowly leaking, and you do nothing to fix it, then your home insurance will not offer coverage for the resulting water damage.  Additionally, your home policy specifically excludes coverage for the water damage caused by water backup and floods.  You can secure coverage for these exclusions through policy endorsements and specialty flood policies, respectively.

Does home insurance cover roof damage and leaks?

Your home insurance will cover roof leaks depending on the cause of the leak.  If the leak is the result of sudden, accidental events, then you have coverage.  For instance, if your roof starts to leak due to falling trees, windstorms, hail, vandalism, or so on, then you will have coverage for repairs.

Damaged roofs are not covered when they are the result of gradual deterioration and lack of maintenance.  For instance, your home insurance will not offer coverage if roof damage is caused by the following:

  • Age
  • Mold, fungus, or wet rot
  • Deterioration, neglect, and/or inadequate maintenance
  • Birds, vermin, rodents, or insects

Please note that, while you will not have coverage for your roof, your policy may extend coverage for the other losses caused by a damaged or leaky roof.  For instance, water-damaged possessions may be covered by your homeowners insurance.

Does home insurance cover theft?

Homeowners insurance covers theft both inside and outside your home.  For instance, if someone broke into your home and stole your television, then you would have coverage to replace your television and repair the damages the burglars caused.  If your phone was stolen while you were traveling, then your home insurance would also cover the cost of replacing your phone.

Homeowners insurance will only cover your belongings up to a certain coverage limit.  So, if you have high-value items that exceed these limits, then they will not be covered by your policy.  You can secure additional coverage for high-value items through policy endorsements or by securing specialty policies for specific items.

This is what your policy will cover when it comes to these common types of home damage events.  Do you have more questions about your homeowners insurance?  If so, then contact the experts at James Page Insurance.  We are ready to assist you with all your home coverage needs today.

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What to Do to Minimize the Impact of a Data Breach at Your Business

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What to Do to Minimize the Impact of a Data Breach at Your Business

How to manage your business during a data breach.

Becoming the victim of a data breach is one of the most devastating things that a business can endure.  While data breaches will always result in damage, effectively managing the situation can minimize the negative impact it has on your company.  Here are some of the steps that you should take to handle a data breach at your business.

Create a Communication Plan

Immediately after a data breach, you need to create a communication team that’s sole purpose is handling the distribution of internal and external company information.  Your communication team should make sure that your employees, stakeholders, vendors, and customers remain in the loop and have reliable information about how the situation is being handled.  This team should also be trained to deal with concerns and manage your company’s public image.  When company communications are handled effectively, your business will seem more professional, organized, and reliable.

Manage Media Coverage

Bad press can make a bad situation even worse for your business.  This is why it’s important that you instruct your staff not to speak to the press following a data breach.  You should also prepare an official statement for a professional spokesperson to deliver to the public.  Because an off-hand comment or a minor miscommunication can be devastating to your business, make sure that you deal with the media carefully.  Oftentimes, less is more when it comes to handling media relations.

Get to the Root of the Issue

Following a data breach, your main priority should be identifying the cause of the breach and sealing off this access point as soon as possible.  This will minimize the amount of information that is compromised during the breach.  Your IT and operations team need to work quickly to identify weaknesses in your business’s security, address these vulnerabilities, and get systems back up and running.

These are some of the steps that your business should take following a data breach.  Want another way to take care of your business during a crisis?  Then make sure you have the right business insurance protections in place.  For assistance with all your commercial coverage needs, contact the experts at James Page Insurance today.

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