Finding affordable mobile home insurance in Indiana can sometimes be very difficult. For one thing, there are not nearly as many companies that sell mobile home insurance as compared to other insurance products such as auto, home, motorcycle etc.
Another problem is that there are not nearly enough online websites to get a mobile home insurance quote. Perhaps that is a big factor as to why 26% of mobile homes are uninsured.
To get an online mobile home insurance quote, usually you have to go through a direct company. Most agency websites do not have forms that you can fill out online for mobile home insurance or modular home insurance, etc. This makes it difficult for someone to get the lowest rate on mobile home insurance.
That is why I posted an online quote form for mobile home insurance on my website. Getting an online quote directly through a mobile home insurance company is fine. However it can be very time-consuming for someone to be able to do that and effectively shop around other companies for the best rates.
The mobile home insurance companies that I carry have very diverse appetites, as far as which mobile homes they like to insure at low rates. If you are a mobile home owner for the first time, I can help. If you have had prior claims on your mobile home that prevents you from finding mobile home insurance, I can help. Or if you have lived in your mobile home for a while without having any claims, I can help you find a lower rate than what you're paying now.
Feel free to fill out an online mobile home insurance quote and allow me to do the shopping around for you.
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Does a Business Owners Policy with Employment Practices Liability Insurance cover me for Retaliation?
Does a Business Owners Policy with EPLI insurance cover me for retaliation?
This answer varies greatly from company to company, but the short answer is usually yes, but with only very minimal coverage. With most business owners policies, the coverage is not nearly enough. Having stand alone employment practices liability insurance (EPLI) is usually the only way to be adequately covered.
You may have a business owners policy that covers liability in the millions. But look closely at the EPLI part of it.... You may be shocked to see that coverage for EPLI related claims are usually capped at very low levels. In fact, some major carriers cap their business owners policies at 10,000-20,000 for EPLI claims. In many of these claims, that's not even enough to cover the legal fees, let alone cover you for a lawsuit!
Why is coverage against Retaliation so important?
Retaliation has recently passed both discrimination and sexual harrassment (which are also both fully covered with a stand alone EPLI policy) as the #1 reason why employees are suing their employers.
Should I replace a business owners policy (BOP) with a stand alone EPLI policy?
ABOSLUTELY NOT! A BOP is your main protection against liability. EPLI is just a small but important part of that. But the problem is that campanies who offer BOP's are continually limiting the coverage towards EPLI related claims to where a business owner really needs both a BOP and a stand alone EPLI policy to be adequately protected. The good news is that a stand-alone EPLI policy only costs a small fraction of what a Business Owners Policy costs.
Does a stand alone EPLI policy cover me for punitive damages if an employee wins a suit against me?
That answer totally depends on what state you're in. I can only answer that for the 6 states that my agency serves:
Ohio - No, state law forbids it.
PA - No, state law forbids it.
West Virginia - Yes, stand alone EPLI can pay against punitive damages claims.
Virginia - Yes, stand alone EPLI can pay against punitive damages claims.
Indiana - Most likely NOT. There's no law that forbids it, but the way the laws are written, it seems to be nearly impossible.
Michigan - Not applicable. Michigan doesn't award punitive damages for these types of lawsuits.
The only way to really tell whether or not your business owners policy is adequate as far as EPLI related claims is to simply take a close look at your policy, or call and ask your agent. There are three major things to look for as far as shortcomings:
What is covered? A good EPLI policy will include all of the following without any exclusions:
If any of these are missing on your business owners policy, you may want to look into stand-alone EPLI coverage.
2. How much is covered?
This is where most business owners policies fall short. A good stand alone EPLI policy will allow you to select coverage ranging from 100K- 2 million dollars. A business owners policy (BOP) usually offers only 10K-20K of EPLI coverage. As I mentioned earlier, that is weak!
3. What additional coverages are offered on a stand alone EPLI policy that a BOP with EPLI doesn't have?
A good stand-alone EPLI policy will offer the following:
Defense outside of limits option. This is where your legal fees do not count against your total liability coverage. With a BOP policy, legal fees alone can exhaust your liability limit!
Third-party coverage (available for most businesses). This covers you if a third party not associated with your business causes you to be sued by an employee as a result of the third party's actions. (Example: you're a store owner, and a customer does something to offend your cashier ..... The cashier later files suit, claiming that you didn't do enough to prevent the situation from happening again.)
Full prior risk coverage. This coverage is for a wrongful incident that took place before the policy was in place, as long as the claim is made during the policy period, and there was no knowledge of the incident prior to taking out the policy.
These are the three things you need to check on when reviewing your business owners policy. If you find that your EPLI coverage is inadequate, feel free to get an online EPLI quote, and I will find you affordable EPLI rates for your business. I can quote any small business, or I can quote larger businesses with up to 250 employees (with part time employees counting as 1/2).
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When you bundle any two insurance products together with the same company, you're always going to get a discount, which is known as a multi-policy discount. It doesn't matter if you bundle an auto insurance policy with a homeowners policy, an auto policy with a motorcycle policy, a homeowners policy with a boat insurance policy, etc. With any two products being with the same company you will get this multi-policy discount.
In many cases, bundling is smart and makes sense. For one thing, it's much more convenient to deal with only one company instead of multiple companies.
But the point I want to make here is that bundling is not always cracked up to what it's supposed to be. Companies weigh multi-policy discounts differently. But with most companies, a multi-policy discount is relatively a small discount compared to other discounts available.
For example, all of the following usually are a higher percentage of discount than the multi-policy discount:
Bundling might be your best strategy. But not always. There are certainly plenty of times where you will actually get an overall cheaper combined rate by putting different products with different companies than you would bundling everything with one company.
Too many people get hung up on needing to bundle all of their toys (motorcycle,boat,RV,ATV,golf cart,snowmobile, etc.) that they don't always get the best rate by shopping around.
Bottom line: If you already have a policy in force with a company, it only makes sense to go ahead and try to bundle and see what rate you come out with. However, you don't want to just stop there and assume that it is the cheapest rate you will get. Chances are there is another company that can beat your premium even without the multi policy discount. So keep that in mind when you're buying new toys and looking for an insurance quote. Sometimes bundling is the better idea but sometimes it isn't. Getting multiple quotes is the only way to find out.
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If you're looking to get cheaper auto insurance rates while at the same time not exposing yourself to too much risk, you have to know what areas you can and can not skimp on.
There are three major areas that you do not want to skimp on when it comes to auto insurance:
#1 Do Not settle for state minimum liability! The coverage is lousy! If you happen to be at fault in a major accident, state minimum liability insurance is usually not going to cover it! The most it would pay any one driver for their injuries is $12,500. The most it would pay if you were to injure multiple drivers is $25,000.
If an injured driver spends even a day or two in the hospital, that's enough right there to exhaust all of your liability coverage. If an injured driver is worse than that and have to spend multiple days in the hospital, ambulance chasing lawyers will come after you if they find out you have assets much higher than your liability coverage.
The good news is that having higher limits of liability coverage usually doesn't cost much more as much as you might think. In fact, doubling your coverage in many cases only raises your by about $5 a month, and quadrupling coverage is usually only about $10 more a month.
#2 Do Not reject or select low levels of Uninsured/Under-insured Motorist Bodily Injury coverage. Again, this coverage is usually inexpensive but it is very important. It is estimated that 1 in every 6 drivers go uninsured. About the same percentage carry only the state minimum or only slightly higher coverage. If some idiot pulls out and hits you, their liability coverage may not cover all of your medical bills either (just like the scenario above only the tables are turned).
#3 Do Not reject Uninsured Motorist Property Damage (UMPD). If you already have collision coverage, then you don't need UMPD because collision coverage applies anyways. But if you don't have collision, then taking UMPD is a no-brainer! It's usually only a dollar a month! This will cover your vehicle if someone without liability coverage hits you, and they are at fault (as long as you can identify them).
So what coverages can I skimp on without being exposed with too much risk?
If you're looking to save money by lowering your coverage on auto insurance, I always feel that it's better to lower the controlled risks. By control, I mean that you can figure out to a specific dollar amount what a certain exposure would cost you if there were an accident.
There are two major ways to lower your rates with controlled risks:
#1 Raising your comprehensive and/or collision deductibles. Carrying higher deductibles on physical damage coverage will save you quite a significant chunk of premium. Of course, this will cost you more out of pocket if there is a claim on your vehicle. But at least you know for certain in terms of the dollar amount of the extra exposure. This is much better than the uncertainty of medical costs involving injuries.
#2 Removing Roadside Assistance and Towing. Some companies offer great coverages and great rates for this type of coverage. However, be aware that not all coverage is the same from one insurance company to the next. Read the terms of these coverages before you buy. Some only cover you a few miles from home while others limit coverage in other ways. I'm not saying having roadside assistance or towing coverage is a bad idea. But you have to pay close attention to exactly what is covered. With many companies, it's not what it's all cracked up to be.
Summary: Sometimes when the economy is down and money is tight, you may find it necessary to make cuts in your budget. When it comes to auto insurance, knowing the right and wrong places to cut corners than make huge differences with risk exposure.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..