Regardless of your business’s size, protecting the vehicles in the premises of your auto repair shop is a must. Commercial auto insurance will help you mitigate the impact of possible unpleasant events (such as shop accidents, servicing errors, and equipment damage) on your finances. With the help of a business insurance agent from Allied Insurance Managers, you can arm your business with the right coverage against any future challenges you may face as an auto repair shop owner. One of the policies we highly recommend is our Garage Keepers Liability Coverage. Continue reading…
We often get the question, “Why do insurance companies charge for subcontractors?” The answer is simple: contractors who hire subcontractors are exposed to vicarious liability and could have claims brought against them as a result. The premium charged for adequately insured subcontractors helps offset the costs of defense and judgments that may be brought against the hiring contractor. These could include subcontractors’ torts, negligence or inadequate limits of insurance.
The basis of premium charged for adequately insured subcontractors is “total cost.” By definition, total cost includes all labor, materials and equipment furnished, used or delivered for use in the execution of the work. However, it does not include the cost of furnished equipment installed but not furnished by the subcontractor, if the subcontractor does no other work on or in connection with such equipment. Total cost also includes all fees, bonuses or commissions made, paid or due.
By definition alone, this is a more complicated topic than it would appear on the surface. Many insureds are confused by the inclusion of materials in their premium charge. However, it is important that your clients include the proper costs at the time the policy is written to help avoid problems at time of audit.
If you have additonal questions please contact us. We will be happy to answer your questions.
Your current auto insurance serves as your safeguard in case of total vehicle loss. But what if the insurance proceeds are not enough to pay off the outstanding balance or lease payments on your vehicle? There remains an obligation for you to pay the deficiency. In this case, you may want to get additional coverage, specifically the Guaranteed Auto Protection (GAP), for extra security. Here in Michigan, Allied Insurance Managers can provide you this supplemental coverage. Continue reading…
Whether you’re out for a week-long vacation or you have an event to attend during the night, leaving your house unattended and unsecured can make it especially enticing to burglars. Although you can’t make your home entirely safe from thieves, there are certain safety measures you can take to drastically reduce your risk of becoming a victim. We at Allied Insurance Managers, Inc. encourage Michigan homeowners like you to consult with us regarding home insurance to minimize potential property losses should the worst occur. Continue reading…
