WEDNESDAY, DECEMBER 21, 2016
There are many instances of data breaches in the news. Cyberattacks can happen on a regular basis. The ramifications often include companies spending huge sums to protect customers, employees, and their image.
NetDiligence estimates the average data breach claim is just under $700,000. Can your business afford to lose $700,000 just to get back to where it was before the data breach? Very few companies can, which is why you need data breach insurance.
Who Needs Data Breach Insurance?
Data breach business insurance helps people protect their businesses from cyberattacks. Although the insurance can’t stop an attack, it helps business owners recover financially.
Businesses that store sensitive information on their servers should buy data breach insurance. Servers carry private information about customers, employees and finances.
Also, you need data breach insurance if you contract with an organization and have access to their servers. Hackers attempt to gain access to information by any means necessary. They can leverage a contractor’s laptop, smartphone, or tablet to gain access to servers.
What’s Covered Under Data Breach Insurance?
Data breach insurance is a comprehensive insurance policy. Beyond helping you get back on your feet, data insurance can help you cover the cost of the following:
- Customer notification
- Attorney’s fees
- Crisis management
- Security experts
When you buy data breach insurance, you have strong assets to protect your business.
Not Having Data Breach Insurance Could Be Business Malfeasance
You have a duty to your stakeholders. Everyone wants to see your business grow and succeed. Unfortunately, one cyberattack can leave businesses sidelined.
With the threat of cyberattacks ever-present, choosing not to purchase data breach liability insurance could be a form of business malfeasance in the eyes of your stakeholders.
Insurance Planning Service helps businesses identify how much insurance they need and what to do in case they need to file a claim. Give us a call today at (800) 220-5582 to get more information about Michigan cyber insurance.
FRIDAY, NOVEMBER 18, 2016
Providing your employees with the benefits they want and need is good for your company. It can your company to retain top talent. It also might help you to keep your employees longer, reducing training costs and hiring fees. Importantly, it helps you to show your concern for the people who make your company possible.
When it comes to employee benefits health insurance is one of the most valuable. Are you offering it?
Knowing Your Legal Requirements
The Affordable Care Act requires some businesses to provide employees with health insurance. This is often the case for businesses with a certain number of full-time employees or a large staff.
Requirements aside, consider what providing health insurance to your employees would mean to them.
- With this type of employee benefit, your team can afford to have regular medical care. This allows your team to remain healthy and reduces the amount of missed time at work they have for illness.
- Your employees appreciate being able to take their children to the doctor. Some employees say that having insurance for their children’s needs is important to them. This also reduces risks of employees missing work because of a child's illness.
- Companies that offer health insurance can receive more applications and better applicants for positions. This is especially true for higher level positions and harder to fill positions.
- Employees with health insurance can get necessary health screenings early on. This can help employees to fight off disease sooner. It can also help them tackle risks such as weight concerns, smoking, and mental health matters, sooner.
- Providing employee benefits may help you qualify for federal tax breaks.
Most companies will find that offering health insurance is a key employee benefit. Benefits can help both you and your team. It may not be as expensive as you think. Benefits can also be exactly what your team expects and needs to keep them working harder for you. Take the time to learn more about the employee benefits that really impact your team. Learn what you can do to ensure your employees have the coverage they need.
Do you have questions about the right type of Michigan health coverage to offer your employees? Call Insurance Planning Service today at (800) 220-5582.
FRIDAY, OCTOBER 21, 2016
When buying a vehicle, your lender may require that you have
comprehensive auto insurance on it. This provides a safety net for the lender.
If the vehicle is a total loss, such as after a fire or a theft, the insurance
plan helps to cover the loss. When leasing a vehicle, you may have the same
requirements, or those that are similar. Those who lease a vehicle never fully
own it outright, making it even more important for you to maintain the most
appropriate and effective car insurance plan.
What Types of Auto
Insurance Must You Have?
When signing a lease for a vehicle, the company can outline
what your specific requirements may be. In most situations, you could be
required to maintain the following types of coverage:
insurance. This pays for damage resulting from incidents such as storm
damage, flooding, hail, fires, and theft.
insurance. This type of insurance helps to pay for damage to the vehicle
that occurs when you are involved in a collision that you caused, such as
backing into a pole or hitting another vehicle.
insurance. You may need to have at least the state required minimum
liability insurance. The lease holder here wants to ensure you are
operating the vehicle legally. Liability insurance offers no protection to
you or the lease holder, but to other drivers when you cause damage to
their person or vehicle.
Is that enough? It’s often advisable to have extended
liability insurance since most state-required levels are very low and often not
enough to pay for the damage resulting from a single incident. In addition to
this, you may also need to carry under-insured and uninsured plans, medical
payments, and coverage for any special equipment. You may also need gap
insurance. It is nearly always more affordable to purchase gap insurance, often
required by lease holders, from an insurance agency rather than buying it
directly from the leasing company.
The right amount and type of insurance coverage can save you
a great deal of money. And, it offers the protection you need to safeguard
against risks that could occur while you are operating your leased vehicle.
Ensure your policy meets all standards required under your lease agreement.
We’ll help keep you safe on the road. Call Insurance
Planning Service at (734) 421-9900 for more
information on Michigan
TUESDAY, SEPTEMBER 20, 2016
Maintaining proper recreational vehicle coverage is essential for any owner. These vehicles tend to be high value and important to many families for maintaining a desired quality of life. For this reason, it’s important to choose the right RV insurance for the specific type of vehicle you own, and to customize that plan to address the specific needs of it. For those who have a Class B RV, you’ll want to choose a plan that fits your budget and properly matches the unique elements of this type of vehicle. There are a few things to keep in mind.
What are Class B Recreational Vehicles?
There are three divisions or classifications of recreational vehicles. Class B is specifically designed for those that have the smallest of all types of RVs. These do range widely. They commonly include vehicles that do not have a cab-over. In addition, they can include cargo van styles. Travel trailers fit here, as do camper vans. These are some of the most common types of RVs used today for those who may like to camp for a weekend or need to infrequently spend time on the road. However, just because they are smaller does not mean they are any less important to insure properly.
What Insurance Do You Need?
Class B RVs still require RV insurance. The first step should be to protect the RV itself based on its value and whether or not you want to maintain actual value or replacement value coverage. Contents insurance is also provided with basic plans. Liability risks remain the same with Class B vehicles whether they are operated on their own or pulled behind a trailer. Comprehensive support for the vehicle is also a good idea to protect it from theft, fire and vandalism. Collision insurance can also be of value.
Customizing an RV insurance plan is very important for most owners. It’s also important to choose a plan that addresses the value of the RV and whether or not you want to replace it should an accident or other incident occur. These plans are very flexible and most are surprisingly affordable.
Are you covered? Call Insurance Planning Service at (800) 220-5582 for more information on Michigan RV insurance.
FRIDAY, AUGUST 26, 2016
If you are planning a big trip, you’ve likely thought about every detail of the experience. You know how you will travel, where you will go and what you’ll see. But have you thought about what would happen if you get ill and cannot continue on your trip? What if you have to go home because a loved one becomes very ill? Travel insurance is the type of investment most people need to have to help reduce the risk of these types of losses. It is unlikely that such an experience will happen, but that doesn’t mean you should take that type of risk, especially when it comes to expensive or longer trips.
How Travel Insurance Helps in Medical Emergencies
Travel insurance is a policy taken out by a person planning a trip to cover their needs during that trip. There are various types of policies available and each one can provide you with some level of financial protection from the risks you face. First, this type of coverage often offers trip cancellation coverage. It will help you when you’ve pre-paid for a trip and it is non-refundable. This type of coverage generally applies to specific instances of risk including:
- Becoming sick
- Suffering an injury
- A death in the family
- A disastrous weather event, either at home or the travel destination
Keep in mind that this type of policy often does not cover basic illnesses. If you get the flu while you are traveling, and just need a day or two of downtime, it may not provide coverage. However, if your loved one is involved in a life threatening accident, your trip cancellation may apply.
In addition to this, it can help in medical emergencies that happen abroad. For example, it can help you where your existing health insurance does not work. This includes getting medical care where you are and even, in emergency situations, being evacuated when it is deemed necessary.
Travel insurance is a go-to solution for those who get ill or become hurt on a trip. Do not overlook the importance of selecting a comprehensive plan, especially if you are traveling abroad for any type of trip.
Get the coverage you need. Call Insurance Planning Service at (800) 220-5582 for more information on Michigan travel insurance.