http://www.mcfarlininsurance.com/blog/View McFarlin Insurance Agency's Website Blogen-uspostmaster@www.mcfarlininsurance.comInsurance Website Builder - www.insurancewebsitebuilder.comurn:uuid:3d36a3fb-e512-4f48-9feb-9d31fd337051urn:uuid:0911ae3b-f804-4c7b-9bd7-6c5111f141ca<img src='http://www.mcfarlininsurance.com/img/~www.mcfarlininsurance.com/business%20people_2379390.jpg' align='left' />There are many ways to drive more clients to your business. You can try marketing and networking, word of mouth, referrals, discounts, coupons and countless other tried and true methods. Two very simple ways that contractors can ensure they get more ...Fri, 20 Jan 2012 12:05:40 -0600<img style="width: 300px; margin-bottom: 10px; float: right; margin-left: 10px;border: 0px solid;" alt="Maryland Business Insurance" src="/img/~www.mcfarlininsurance.com/business%20people_2379390.jpg" />There are many ways to drive more clients to your business. You can try marketing and networking, word of mouth, referrals, discounts, coupons and countless other tried and true methods. Two very simple ways that contractors can ensure they get more clients and close more deals, while also protecting themselves, is by having insurance and being bonded.<br /> <br /> <strong>Insurance</strong><br /> <br /> When a contractor has insurance, would-be clients know that the contractor is concerned about keeping their clients and their business safe. When a contractor is concerned about safety at that level, there is an unspoken confidence placed in his or her work. The kinds of insurance that contractors should concern themselves with include: <br /> <ul> <li><strong>General liability</strong>: The worksite is a minefield of risks for anyone who stumbles through it. When a contractor has liability coverage, it provides protection for property damage and bodily injuries caused by the work and environment. Although, if the event was the result of poor workmanship or defects it will not be covered. </li> <li><strong>Worker&rsquo;s compensation</strong>: If you hire employees, then you must either buy worker&rsquo;s compensation insurance or self-insure the risk with your own capital. Since worker&rsquo;s compensation pays your employees&rsquo; salary and medical costs when they are unable to work due to an injury obtained on the job, and also prevents you from being sued for damages except in cases of gross neglect, it&rsquo;s probably best to allow the insurance company to cover those expenses. Your clients will also appreciate the detail since they won&rsquo;t worry about you having financial trouble and being unable to finish contracts if someone is injured.</li> </ul> <strong>Bond</strong><br /> <br /> A bond is insurance against some contract breaches. It protects your clients against any inability you may have in meeting the conditions you set out in your contract. Not only is this protection in and of itself a selling point for would-be clients, it&rsquo;s also a selling point that an insurer, who has thoroughly vetted you and assessed your risk, believes in you enough to back the bond. <br /> <br /> If you want to close more clients by getting the right insurance and bonds, let us know. The agents at <strong>McFarlin Insurane Agency</strong> can work with you to develop a plan for&nbsp;<a href="http://www.mcfarlininsurance.com/business/" title="Maryland Business Insurance" target="_self">Maryland Business Insurance</a> that works with your budget and comforts your clients.urn:uuid:2fac38ae-26fa-4dd6-aa3a-836c632402a8<img src='http://www.mcfarlininsurance.com/img/~www.mcfarlininsurance.com/icedam.jpg' align='left' />Although it&rsquo;s been an unusually warm winter for the Northeast, Mother Nature always seems to find a way to give us the chills this time of year.&nbsp; Below are a few tips on what you can do to help winterize your home and business.&nbsp;&nbsp;...Fri, 30 Dec 2011 11:01:56 -0600<p>Although it&rsquo;s been an unusually warm winter for the Northeast, Mother Nature always seems to find a way to give us the chills this time of year.&nbsp; Below are a few tips on what you can do to help winterize your home and business.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="text-align: right;"><img width="191" height="152" alt="" src="/img/~www.mcfarlininsurance.com/icedam.jpg" /></p> <p> <br /> <br /> A little time spent now is better then the time and expense spent later:</p> <blockquote style="margin-right: 0px;" dir="ltr"> <ul> <li>Clean out your gutters.&nbsp; By removing debris from your downspouts, melting snow and ice can flow freely and has less of a tendency to form an ice dam. &nbsp;Ice damming occurs when water is unable to drain through the gutters and instead seeps into the house causing water to drip from the ceiling and walls.</li> <li>Keep the house warm.&nbsp; Set the thermostat to 65 degrees, even when you&rsquo;re not home.&nbsp; This will keep the pipes from freezing and exploding inside the walls -causing major damage. </li> <li>Trim trees and take down dead branches.&nbsp; Wind, ice and snow can cause weak trees or branches to break and cause damage to your house.&nbsp;</li> <li>Seal cracks and holes in foundations and outside walls to prevent snow from melting in. Caulking and weather stripping are inexpensive and can be found at any hardware store.&nbsp; </li> <li>Have your heating system serviced at least once a year.&nbsp; This helps prevent fire and smoke damage</li> <li>Learn how to shut the water off and know where your pipes are located. Should your pipes freeze, time is of the essence.&nbsp; The faster you&rsquo;re able to shut off the water, the better your chances of preventing the pipes from bursting. </li> </ul> </blockquote> <p>&nbsp;</p> <p>Protecting your house during the dreary winter months is even more important for the annual snowbirds.&nbsp; Often times people will turn down the heat to save money on the electric bill, <a href="http://thesnowbirdlife.com/articles/2010/08/while-youre-away/#more-29">but this can cause big problems if they&rsquo;re not careful</a>.&nbsp;&nbsp;&nbsp;</p> Insurance Agents are filled with valuable advise on protecting your home from loss &ndash; give one a call today!urn:uuid:4a80a20f-4b8c-4c69-87ac-6b6ec2e8d41b<img src='http://www.mcfarlininsurance.com/img/~www.mcfarlininsurance.com/iStock_000000281560XSmall.jpg' align='left' />Over the years, your life is going to go through many changes and your financial situation will evolve as a result. Some of these will be changes that you make, and others will be those that the world thrust upon you. Whether the changes come from wi...Thu, 15 Dec 2011 12:19:19 -0600<img style="width: 300px; margin-bottom: 10px; float: right; margin-left: 10px;border: 0px solid;" alt="Business Insurance Needs" src="/img/~www.mcfarlininsurance.com/iStock_000000281560XSmall.jpg" />Over the years, your life is going to go through many changes and your financial situation will evolve as a result. Some of these will be changes that you make, and others will be those that the world thrust upon you. Whether the changes come from within or without, you need to respond by changing the coverage options and limits provided by your insurance policies.<br /> <br /> While every individual must recognize the specific reasons for evolving insurance needs in their own lives, some common catalysts include: <ul> <li style="margin-bottom: 0px;">Inflation <ul> <li style="margin-bottom: 10px;">Inflation doesn&rsquo;t just impact how far your dollars reach; it also impacts how far your insurance benefits can stretch. As inflation increases prices around you, it can negatively affect your auto and home limits as well as your life insurance death benefit. It also impacts the effectiveness of your disability and long-term care benefits, as well. </li> </ul> </li> <li style="margin-bottom: 0px;">Savings balance fluctuations <ul> <li style="margin-bottom: 10px;">The amount of money you have in your savings account could change the amount of insurance you want to have. While a large savings account might make you feel secure with high deductible insurance policies, changes in the market could mean that you need to switch to lower deductible plans. Your savings account balance may also impact how long a waiting period you choose for your disability and long-term care policies. The goal of insurance is to insulate your savings from the risks that you and your assets face each day. Adjusting your insurance policies over the years helps to aid this process. </li> </ul> </li> <li style="margin-bottom: 0px;">Changing asset values <ul> <li style="margin-bottom: 10px;">Your assets do not generally have a static value. Some don&rsquo;t even have a depreciating value. Certain items, like homes, jewelry, art, and antiques have values that can increase dramatically in a short period of time. This increase must be answered by the evolution of your home and auto insurance policy limits.</li> </ul> </li> <li style="margin-bottom: 0px;">Increases in income <ul> <li style="margin-bottom: 10px;">When your income goes up, your standard of living tends to follow. Not only will this affect the type of assets you own, as well as their replacement and actual cash values, but it will also create a new lifestyle for your family to become adjusted to. Your home, life and auto insurance policies may all need a facelift as a result. </li> </ul> </li> </ul> These are just a few of the examples of your evolving insurance needs. To discuss more ways that your insurance policies might be becoming dangerously dated, give us a call. We can go through your entire portfolio and make sure we get your coverage up to speed. <br /> <br /> <span style="font-size: 1.3em;">Contact an agent at <strong>McFarlin Insurance Agency</strong> to make sure your&nbsp;<a href="http://www.mcfarlininsurance.com/business/" title="Maryland Business Insurance" style="font-size: 1em;" target="_self">Maryland Business Insurance</a> needs are being met.</span>urn:uuid:5ea29060-49d2-4047-9379-4914b71c0fd4<img src='http://www.mcfarlininsurance.com/img/~www.mcfarlininsurance.com/iStock_000001004534XSmall.jpg' align='left' />These days, businesses assuming liability in a contract is common; liability they wouldn&rsquo;t normally have. The contracts that pass liability on to these businesses are known as &lsquo;hold harmless agreements&rsquo; or &lsquo;indemnification agr...Tue, 22 Nov 2011 08:40:00 -0600These days, businesses assuming liability in a contract is common; liability they wouldn&rsquo;t normally have. The contracts that pass liability on to these businesses are known as &lsquo;<strong>hold harmless agreements</strong>&rsquo; or &lsquo;<strong>indemnification agreements</strong>&rsquo;. These are arrangements where one party accepts the responsibility for the other&rsquo;s negligence.<br /> <br /> <img style="width: 300px; margin-bottom: 10px; float: right; margin-left: 10px;border: 0px solid;" alt="general business insurance" src="/img/~www.mcfarlininsurance.com/iStock_000001004534XSmall.jpg" />While it&rsquo;s still not standard for a policy to provide the liability coverage for someone that is not listed on that policy, a Commercial General Liability policy will do just that. When it comes to business contracts that are regularly used, the following coverages are included: <br /> <br /> · Lease of premise <br /> · Sidetrack agreement <br /> · Easement or license agreement <br /> · Indemnification of a Municipality <br /> · Elevator maintenance agreement<br /> <br /> The coverages for these contracts are, however, limited by stipulations in the policy. <br /> <br /> There is no coverage for architects, engineers, or surveyors when they perform their professional services. Professional liability policies are more applicable to these situations. If you are assuming the liability for anyone, be sure you&rsquo;ve reviewed the contracts and verified with your insurance agent that all the right agreements are covered. <br /> <br /> For your own&nbsp;<a href="http://www.mcfarlininsurance.com" target="_self">Maryland Contractors Insurance</a> or general business insurance, contact an agent at <strong>McFarlin Insurance Agency</strong> to be sure you&rsquo;re fully covered.urn:uuid:3b7a7635-f823-4232-98de-cad04951d7d5The Maryland MVA has recently added a great online feature.&nbsp; Maryland drivers are now able to register up to&nbsp;three emergency contacts, via the website.&nbsp; The emergency contact information will be stored electronically on the drivers lic...Tue, 08 Nov 2011 10:32:53 -0600The Maryland MVA has recently added a great online feature.&nbsp; Maryland drivers are now able to register up to&nbsp;three emergency contacts, via the website.&nbsp; The emergency contact information will be stored electronically on the drivers license so the police know who to contact in the event of an accident.&nbsp; This information will only be available to authorized law enforcement personnel. <br /> <br /> The old rule of thumb was to add "ICE" next to any emergency contacts (In Case of Emergency)&nbsp;in your cell.&nbsp; However, if you're like me, your cell phone will lock itself after a few minutes and a passcode is needed to access any contacts.&nbsp; Information on how to update your contacts via the MVA website is listed below.&nbsp; <br /> <br /> You can go to the MVA's website at <a href="http://www.mva.maryland.gov/" title="http://www.mva.maryland.gov/" rel="nofollow" target="_blank" _djrealurl="http://www.mva.maryland.gov/">www.mva.maryland.gov</a> and add your three emergency contacts in just a few minutes.&nbsp;&nbsp; <b>You will need your Driver's License Number to complete this process.</b> <br /> &nbsp; <br /> 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Go to the website:&nbsp; <a href="http://www.mva.maryland.gov/" title="http://www.mva.maryland.gov/" rel="nofollow" target="_blank" _djrealurl="http://www.mva.maryland.gov/">www.mva.maryland.gov</a> <br /> 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Go to "On-line Transactions" (upper left) &amp; click on "More" <br /> 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Click on "Emergency Contacts" (bottom of left column) <br /> 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Follow prompts&nbsp;<br /> &nbsp; <br /> <br />urn:uuid:5d45b1c8-4ade-4126-a0e8-3109bf155ad3As Hurricane Irene approaches Maryland, we want to make sure our customers&nbsp;are aware of the steps they can take to stay safe as the storm approaches. &nbsp; Safety for individuals &nbsp; Create a disaster plan. Plan an evacuation route in a...Fri, 26 Aug 2011 08:22:09 -0500<p>As Hurricane Irene approaches Maryland, we want to make sure our customers&nbsp;are aware of the steps they can take to stay safe as the storm approaches.<br /> &nbsp;<br /> <strong>Safety for individuals</strong><br /> &nbsp;</p> <ul style="list-style-type: disc;"> <li>Create a disaster plan. Plan an evacuation route in advance and determine where you would go if you were told to evacuate. </li> <li>Prepare a survival kit. Stock up on drinking water, non-perishable goods, a first-aid kit and medicine for everyone including your pet. Include extra clothing, blankets, batteries, flashlights and a portable radio. </li> <li>Conduct a home hazard hunt and make your home as safe as possible. Secure all outdoor objects such as garbage cans and lawn furniture. Close storm shutters and board up all windows. </li> <li>Review how to shut off utilities in an emergency with all family members. </li> <li>Locate important papers and documents and have them ready to take with you should you need to evacuate. Protect documents in plastic storage bags if you're remaining in your home. </li> <li>Make sure you have insurance policies with claim contact information, an inventory of your home&rsquo;s contents and cash. </li> <li>Ask an out-of-state friend to be your family contact. After a disaster, it's often easier to call long-distance than to make a local call. </li> <li>Finally, leave promptly when ordered to evacuate. Leaving too late or not leaving at all only endangers yourself and others. </li> </ul> <p>&nbsp;<br /> <strong>Safety for businesses</strong><br /> &nbsp;<br /> In addition, you and your business insurance customers should consider taking the following precautions to help protect people and property and guard against disruption of operations:<br /> &nbsp;</p> <ul style="list-style-type: disc;"> <li>Review your business continuity plan and communicate emergency evacuation and business interruption instructions to employees. If you don&rsquo;t have a written plan, now is the time to create one. Each business should have an emergency plan including a detailed procedure for evacuation, a checklist for shutting down processes and protecting buildings, contents, equipment, and yard storage. Procedures should include salvage instructions to follow post-event. </li> <li>Back up critical data and computer records off-site so that operations can continue after a disaster. Consider keeping a backup generator and plenty of batteries on hand so your business can continue to operate after a power loss. </li> <li>As a hurricane approaches, quick actions should to be taken to install temporary protection features including: <ul style="list-style-type: circle;"> <li>Shutter or board up windows to protect them from flying debris </li> <li>Clean out floor drains and catch basins to ensure maximum drainage </li> <li>Anchor structures, trailers and yard storage so they are more likely to stay put in high winds </li> <li>Fill emergency generator and fire pump fuel tanks </li> <li>Shut down production processes safely </li> <li>Shut off all flammable and combustible liquid and gas lines at their source </li> <li>Shut off electrical power at the main building disconnect before the hurricane strikes </li> </ul> </li> <li>Once the storm has subsided and it is safe to return, a salvage team should be assembled and repair work prioritized, assuring proper supplies are available and safety procedures followed. </li> </ul> <p>&nbsp;&nbsp;</p> <p>If you need to report a claim or would like to contact your carrier <a href="http://www.mcfarlininsurance.com/claims.aspx">you can do so here</a>. Please be safe out there! </p> <p>&nbsp;For up-to-date information and tracking of Hurricane Irene check-out the <a href="http://www.nhc.noaa.gov/">National Hurricane Center</a></p> <p>&nbsp;For information on flood insurance <a href="http://www.mcfarlininsurance.com/contact.aspx">give us a call</a> or <a href="http://www.mcfarlininsurance.com/contact.aspx">contact us online</a></p> <p>&nbsp;&nbsp;</p> <p>***<i>Special thank-you to Travelers for providing content for this post</i>***</p>urn:uuid:802839a6-122b-4daf-887a-2fb3631326b0Maryland Earthquake Insurance &nbsp;&nbsp;&nbsp;&nbsp; A few hours ago, the ceiling at McFarlin Insurance began rumbling.&nbsp; While this is not uncommon as they often have contractors working on the roof, something about this rumble was different.&...Tue, 23 Aug 2011 19:07:30 -0500<p><strong><span style="font-size: 16px;">Maryland Earthquake Insurance</span></strong></p> <p>&nbsp;&nbsp;&nbsp;&nbsp; A few hours ago, the ceiling at McFarlin Insurance began rumbling.&nbsp; While this is not uncommon as they often have contractors working on the roof, something about this rumble was different.&nbsp; After a few seconds, all of us realized this rumbling was more than the HVAC technician checking on the cooling tower.&nbsp; It was an earthquake.&nbsp; </p> <p>&nbsp;&nbsp;&nbsp; After the brief shaking had ceased and we had a good laugh knowing that everything was okay and no one was harmed &ndash; the phone began to ring.&nbsp; &ldquo;Do I have earthquake insurance?&rdquo;</p> <p>&nbsp;&nbsp;&nbsp; Like many coverage questions we receive, the answer is a firm maybe. </p> <p>&nbsp;&nbsp;&nbsp;&nbsp; Under a standard homeowners policy, earthquake coverage is typically not included but can be added cheaply, by endorsement from the carrier (as opposed to flood insurance which must be purchased through the National Flood Insurance Program).&nbsp; </p> <p>&nbsp;&nbsp;&nbsp;&nbsp; Same thing goes for commercial insurance &ndash; a standard ISO property policy does not cover earthquake damage but most carriers can include this coverage by endorsement for a minimal increase in premium. While there are specialized property coverages like a Commercial Output Policy (COP) or&nbsp; Difference in Conditions (DIC) coverage that cover earthquake losses, the stand-alone earthquake endorsement is readily available in Maryland by most carriers. </p> <p>&nbsp;&nbsp;&nbsp;&nbsp; What about your car?&nbsp; Well, earthquake damage is usually <i>not</i> excluded under a standard personal or commercial auto policy PROVIDED YOU CARRY PHYSICAL DAMAGE COVERAGE.&nbsp; So, the 20-year-old F-150 that you&rsquo;re only paying liability insurance for?&nbsp; Unfortunately there would be no coverage in the event the Earth opens up and swallows it.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp; Earthquake coverage is available in Maryland via most standard market insurance carriers because, up until today, Maryland has not been historically prone to earthquakes.&nbsp; A few standard policies even include &ldquo;throw-ins&rdquo; that provide small coverage limits at no additional cost.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp; Still have questions?&nbsp; Finished making sure your china cabinet is firmly in place?&nbsp; Give McFarlin Insurance a call today!&nbsp; We&rsquo;ll be happy to take a few moments to discuss your unique situation and offer insightful and cost-effective solutions. </p>urn:uuid:494d3587-37ae-41af-829d-e3171321a026&nbsp;&nbsp;&nbsp; While most charities and non-profits are immune from various types of liability under Maryland law, there are still several reasons to carry this critical coverage for your organization.&nbsp; Court decisions and statutes provide s...Mon, 25 Jul 2011 11:05:57 -0500<p>&nbsp;&nbsp;&nbsp; While most charities and non-profits are immune from various types of liability under Maryland law, there are still several reasons to carry this critical coverage for your organization.&nbsp; Court decisions and statutes provide some limited protection.&nbsp; However, employees, volunteers and board members all present exposures necessitating the need for a sound D &amp; O (directors and officers) insurance policy.<br /> <br /> &nbsp;&nbsp;&nbsp; <em>Just because 501c-3s have certain immunity from liability doesn&rsquo;t mean that someone or some organization can&rsquo;t sue.&nbsp; The average defense costs for directors, officers, volunteers and employees is approximately $150,000/case.&nbsp; So unless your organization plans on paying out of pocket, the D &amp; O policy will typically respond and include defense costs.&nbsp;<br /> </em><em>&nbsp;&nbsp;&nbsp; Maryland has some sound immunity laws, but they may not be enough to protect you and your organization from all potential liabilities.&nbsp; Often times cases brought against nonprofit boards and/or staff are based on federal laws which may not be affected by the state&rsquo;s immunity protection.&nbsp;<br /> </em><em>&nbsp;&nbsp;&nbsp; Most of the state laws providing immunity for your staff, board and volunteers will only apply if the organization has insurance&nbsp;&nbsp; already in place.</em>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p> <p>&nbsp;&nbsp;&nbsp; Many feel that a&nbsp;<a href="http://www.mcfarlininsurance.com/business/default.aspx">general liability</a> policy will be enough.&nbsp; This is not the case, especially with non-profits.&nbsp; While a standard GL policy will protect the organization from claims of bodily injury or property damage, this policy is not designed to protect against any fiduciary wrongs that may be incurred due to the board&rsquo;s actions.&nbsp;&nbsp; Often a D &amp; O policy will include a separate limit for employment practices liability as well (see our previous blog from 6/8/11). </p> <p>&nbsp;Still have questions?&nbsp; Interested in obtaining a <a href="http://www.mcfarlininsurance.com/business/default.aspx">no-hassle quote</a>?&nbsp; <a href="http://www.mcfarlininsurance.com/contact.aspx">Call or email McFarlin Insurance Agency today! </a><br /> <br /> </p>urn:uuid:20fda88d-9be2-47e6-8cf3-d1985a061099&nbsp;&nbsp;&nbsp;&nbsp; We receive dozens of requests a day for certificates of insurance from and for our clients.&nbsp; A certificate of insurance (also know as an insurance certificate or COI) is a document showing evidence of insurance for one p...Mon, 11 Jul 2011 15:01:20 -0500<p>&nbsp;&nbsp;&nbsp;&nbsp; We receive dozens of requests a day for certificates of insurance from and for our clients.&nbsp; A certificate of insurance (also know as an insurance certificate or COI) is a document showing evidence of insurance for one party that can be provided to another party.&nbsp; The certificate shows which coverages are in place (general liability, workers compensation, professional liability, etc), the time period of the policies, the carrier, and the broker or agent.&nbsp; </p> <p>&nbsp;&nbsp;&nbsp;&nbsp; The certificate is only evidence of insurance coverage at the time the certificate is issued &ndash; it is <em>not </em>an insurance policy nor does it provide the certificate holder with any rights.&nbsp; </p> <p><strong><span style="font-size: 13px;">Why am I being asked to provide a certificate of insurance?&nbsp; </span></strong></p> <p>&nbsp;&nbsp;&nbsp;&nbsp; Typically a construction or vending agreement will require the party providing the good or service to provide a certificate of insurance.&nbsp; While the contracts you sign with a general contractor or vendor may have specific insurance requirements, the COI is another way to show that you have the required coverages in place to fulfill contractual compliance during a specific period of time.&nbsp; If your agreement is for a period exceeding the term of your (typically) annual policy, you will probably be asked to provide an updated certificate every year.&nbsp; </p> <p><strong><span style="font-size: 13px;">Why should I request a certificate of insurance?</span></strong>&nbsp;&nbsp;&nbsp; </p> <p>&nbsp;&nbsp;&nbsp; There are a few reasons to request a certificate of insurance.&nbsp; Unfortunately, not everyone is honest.&nbsp; If you&rsquo;re looking into hiring a contractor for a home renovation, they are probably advertising that they&rsquo;re licensed and insured.&nbsp; Ask for copies of both &ndash; it&rsquo;s <em>not </em>an inconvenience to the contractor and if they balk then it should raise a flag regarding their credibility.&nbsp;&nbsp;<br /> &nbsp;&nbsp;&nbsp; <br /> &nbsp;&nbsp;&nbsp; Are you a contractor that occasionally has to hire subs?&nbsp; If you&rsquo;re not asking for a certificate of insurance from these subs, then you&rsquo;re on the hook for any payments made to them for your general liability and workers compensation.&nbsp; This always creates an issue during the audit process so make sure you request them upfront!&nbsp;&nbsp;<br /> &nbsp;&nbsp;&nbsp; <br /> &nbsp;&nbsp;&nbsp; Just because someone has insurance, it doesn&rsquo;t necessarily mean it&rsquo;s adequate.&nbsp; An electrical subcontractor could burn down a $2,000,000 commercial office building and if he only has a $500,000 general liability limit there are undoubtedly going to be some problems.&nbsp; What if that same contractor doesn&rsquo;t have commercial automobile insurance and one of his employees injures a homeowner while renovating their kitchen?&nbsp; If the certificate you&rsquo;ve received looks fishy &ndash; send it to your local insurance agent for review and guidance &ndash; that&rsquo;s why we&rsquo;re in show business! </p> <p><strong><span style="font-size: 13px;">Still have questions?&nbsp; <a href="http://www.mcfarlininsurance.com/contact.aspx" target="_blank">Call McFarlin Insurance today</a>, or <a href="http://www.mcfarlininsurance.com/locations.aspx" target="_blank">stop by our office</a> in Columbia, MD &ndash; a short drive from Baltimore and Washington, D.C.<br /> </span></strong></p>urn:uuid:6255f12d-e786-439b-92a0-f00a3b35ab08&nbsp;&nbsp;&nbsp; As insurance agents we get asked this question all the time.&nbsp; The short answer &ndash; yes!&nbsp; As an independent agency, McFarlin Insurance has access to dozens of competitive companies offering competitive products.&nbsp; ...Mon, 27 Jun 2011 15:23:33 -0500<p>&nbsp;&nbsp;&nbsp; As insurance agents we get asked this question all the time.&nbsp; The short answer &ndash; yes!&nbsp; As an independent agency, McFarlin Insurance has access to dozens of competitive companies offering competitive products.&nbsp; Chances are, we can save you some money by remarketing your account if no one else has lately.&nbsp; But, there&rsquo;s a catch (there&rsquo;s always a catch, right?).&nbsp; While we are brokers providing products our clients need, we&rsquo;d be nothing but simple hucksters if price was all that we sold.&nbsp;&nbsp; For example &ndash; we could save our clients hundreds of dollars a year if we recommend they exclude comprehensive/collision coverage and only carry the state minimum insurance requirements* for their car insurance.&nbsp; But what happens when they drive their new Audi A8 off the dealer&rsquo;s lot and into a tree across the street?&nbsp; <b>There would be no coverage for that $80,000 car.&nbsp; </b>Or, they drive their new car into another $80,000 car?&nbsp; <b>The $15,000 required property damage liability minimum would mean that individual would need to pay the remaining $65,000 out of pocket.&nbsp;&nbsp; </b></p> <p><b>What about my commercial insurance?<br /> </b>&nbsp;&nbsp;&nbsp; We write many contracting and construction companies here at McFarlin Insurance in Maryland, DC, and Northern Virginia.&nbsp; These folks are trained in the art of estimating, bidding, and negotiating.&nbsp; So obviously when it comes to their insurance they want to make sure they&rsquo;re getting the best pricing without leaving anything on the table.&nbsp; But what happens when standard general liability and workers compensation aren&rsquo;t enough?&nbsp; Was carrying these bare-bones coverages penny wise and pound-foolish?&nbsp;&nbsp; A great example of this cost cutting is <b>Electronic Data Liability</b>.&nbsp;&nbsp;<br /> <br /> &nbsp;&nbsp;&nbsp; Most business owners and insurance purchasers are aware that a standard general liability policy is going to provide coverage for bodily injury and property damage caused by their actions (or inactions).&nbsp; Let&rsquo;s say Electro Electrical Contracting is installing a large outdoor conduit box across the street from North Park Office Condos.&nbsp; One of Electro&rsquo;s employees operating a trencher to lay the cables into the box and happens to nix an existing line.&nbsp; This causes a surge into North Park Office Condos that fries everyone&rsquo;s phones and computers.&nbsp; Tangible damage to the phones and computers? That&rsquo;s covered under the standard ISO general liability policy.&nbsp; Damage to the electronic files that are now lost forever?&nbsp; Not covered.&nbsp; So the accountants, lawyers, and doctors occupying the building lose their client files, payroll information, and anything else that isn&rsquo;t stored at an offsite backup. Think they&rsquo;ll be seeking damages from Electro Electrical Contracting?&nbsp; If Electro had purchased this relatively inexpensive coverage, they wouldn&rsquo;t have to pay out of their own pocket&hellip;&nbsp;&nbsp;&nbsp;</p> <p>These are a few small examples.&nbsp; Stay tuned to our blog/Facebook page to stay updated with the latest and greatest happenings in the wonderful world of insurance! <br /> <br /> <br /> </p> <h3>Auto insurance minimums</h3> <p> <table class="tdY" border="1" cellspacing="0" cellpadding="0"> <tbody> <tr> <td style="width: 93px;">State</td> <td style="width: 124px;" align="center">Liability required? Liability minimums (in thousands of dollars)</td> <td style="width: 84px;" align="center">PIP required?</td> <td style="width: 46px;" align="center">No-fault state?</td> <td style="width: 61px;" align="center">Uninsured motorist coverage required?</td> </tr> <tr> <td>Alabama</td> <td>Yes, 25/50/25</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Alaska</td> <td>Yes, 50/100/25</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Arizona</td> <td>Yes, 15/30/10</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Arkansas</td> <td>Yes, 25/50/25</td> <td>Yes</td> <td>No</td> <td>No</td> </tr> <tr> <td>California (1)</td> <td>Yes, 15/30/5</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Colorado</td> <td>Yes, 25/50/15</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Connecticut</td> <td>Yes, 20/40/10</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Delaware</td> <td>Yes, 15/30/10</td> <td>Yes</td> <td>No</td> <td>No</td> </tr> <tr> <td>Florida (2)</td> <td>No, 10/20/10</td> <td>Yes</td> <td>Yes</td> <td>No</td> </tr> <tr> <td>Georgia</td> <td>Yes, 25/50/25</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Hawaii</td> <td>Yes, 20/40/10</td> <td>Yes</td> <td>Yes</td> <td>No</td> </tr> <tr> <td>Idaho</td> <td>Yes, 25/50/15</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Illinois</td> <td>Yes, 20/40/15</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Indiana</td> <td>Yes, 25/50/10</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Iowa</td> <td>Yes, 20/40/15</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Kansas</td> <td>Yes, 25/50/10</td> <td>Yes</td> <td>Yes</td> <td>Yes</td> </tr> <tr> <td>Kentucky</td> <td>Yes, 25/50/10</td> <td>Yes</td> <td>Yes</td> <td>No</td> </tr> <tr> <td>Louisiana</td> <td>Yes, 15/30/25</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Maine (3)</td> <td>Yes, 50/100/25</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Maryland (4)</td> <td>Yes, 30/60/15</td> <td>Yes</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Massachusetts</td> <td>Yes, 20/40/5</td> <td>Yes</td> <td>Yes</td> <td>Yes</td> </tr> <tr> <td>Michigan</td> <td>Yes, 20/40/10</td> <td>Yes</td> <td>Yes</td> <td>No</td> </tr> <tr> <td>Minnesota</td> <td>Yes, 30/60/10</td> <td>Yes</td> <td>Yes</td> <td>Yes</td> </tr> <tr> <td>Mississippi</td> <td>Yes, 25/50/25</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Missouri</td> <td>Yes, 25/50/10</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Montana</td> <td>Yes, 25/50/10</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Nebraska</td> <td>Yes, 25/50/25</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Nevada</td> <td>Yes, 15/30/10</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>New Hampshire</td> <td>No, FR only (7)<br /> </td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>New Jersey (5)</td> <td>Yes, 15/30/5</td> <td>Yes</td> <td>Yes</td> <td>Yes</td> </tr> <tr> <td>New Mexico</td> <td>Yes, 25/50/10</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>New York (6)</td> <td>Yes, 25/50/10</td> <td>Yes</td> <td>Yes</td> <td>Yes</td> </tr> <tr> <td>North Carolina</td> <td>Yes, 30/60/25</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>North Dakota</td> <td>Yes, 25/50/25</td> <td>Yes</td> <td>Yes</td> <td>Yes</td> </tr> <tr> <td>Ohio</td> <td>Yes, 12.5/25/7.5</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Oklahoma</td> <td>Yes, 25/50/25</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Oregon</td> <td>Yes, 25/50/20</td> <td>Yes</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Pennsylvania</td> <td>Yes, 15/30/5</td> <td>Yes</td> <td>Yes</td> <td>No</td> </tr> <tr> <td>Rhode Island (2)</td> <td>Yes, 25/50/25</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>South Carolina</td> <td>Yes, 25/50/25</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>South Dakota</td> <td>Yes, 25/50/25</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Tennessee (2)</td> <td>Yes, 25/50/15</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Texas</td> <td>Yes, 30/60/25<br /> </td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Utah (2)</td> <td>Yes, 25/65/15</td> <td>Yes</td> <td>Yes</td> <td>No</td> </tr> <tr> <td>Vermont</td> <td>Yes, 25/50/10</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Virginia</td> <td>Yes, 25/50/20</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Washington</td> <td>Yes, 25/50/10</td> <td>No</td> <td>No</td> <td>No</td> </tr> <tr> <td>Washington D.C.</td> <td>Yes, 25/50/10</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>West Virginia</td> <td>Yes, 20/40/10</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Wisconsin</td> <td>Yes, 50/100/55</td> <td>No</td> <td>No</td> <td>Yes</td> </tr> <tr> <td>Wyoming</td> <td>Yes, 25/100/15</td> <td>No</td> <td>No</td> <td>No</td> </tr> </tbody> </table> </p> <center><em>Source: Insurance Information Institute</em></center> <p ><br /> </p>urn:uuid:626ecb86-066c-4168-bdba-a061d9fd3fabHave you hired a new employee recently?&nbsp; Or, given the tough state of the recent economy, have you had to fire an employee recently?&nbsp; What if that employee felt they were being terminated due to their race, gender or religious practices?&nb...Wed, 08 Jun 2011 14:29:04 -0500<p>Have you hired a new employee recently?&nbsp; Or, given the tough state of the recent economy, have you had to fire an employee recently?&nbsp; What if that employee felt they were being terminated due to their race, gender or religious practices?&nbsp; How much do you think it would cost to defend an employment-related lawsuit?&nbsp; Do you have the correct documentation in place to have the suit dismissed?&nbsp; </p> <p>&nbsp;Employment Practices Liability Insurance, also known as EPLI, is insurance that protects your business against claims from your former, current and potential employees that results from the general conduct of your business.&nbsp; Some common examples of Employment Practices Liability Insurance include:</p> <p>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wrongful Termination<img alt="" style="width: 134px; margin-bottom: 10px; float: right; height: 204px; margin-left: 10px;" src="/img/Library/Business/719070.JPG" /></p> <p>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sexual Harassment</p> <p>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discrimination</p> <p>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hostile Work Environment</p> <p>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lack of Advancement</p> <p>These types of claims occur on a daily basis.&nbsp; According to a recent study, the average payout on an EPLI claim has increased over 30% to $180,000.&nbsp; </p> <p>But McFarlin Insurance has you covered!&nbsp; Some key elements of Employment Practices Liability insurance include: </p> <p>-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; coverage for all employees and leased employees</p> <p>-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3^rd party coverage.&nbsp; </p> <p>-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Defense costs included in the coverage limit</p> <p>If you&rsquo;d like more information on this product, or are interested in obtaining a free quote, give us a call today! </p> <p>&nbsp;410-312-7800</p> <p>&nbsp;1-800-323-8254</p>urn:uuid:799dc43d-887c-49dd-9596-ec2bae325e1bGreat article from the Insurance Journal discussing our 'mobile' culture and how it's changing the way workers compensation injuries are viewed. http://www.insurancejournal.com/news/national/2011/06/01/200720.htm Fri, 03 Jun 2011 07:42:56 -0500Great article from the Insurance Journal discussing our 'mobile' culture and how it's changing the way workers compensation injuries are viewed. <br /> <br /> <a href="http://www.insurancejournal.com/news/national/2011/06/01/200720.htm">http://www.insurancejournal.com/news/national/2011/06/01/200720.htm</a><br /> <br />urn:uuid:67376b83-3fe6-4ae5-9d1e-3c26720e5164&nbsp;&nbsp;&nbsp;&nbsp; After reading a recent report on the 25 fastest growing industries for 2011, it was interesting to learn that 20% of these industries are technology/computer related.&nbsp; Here at the McFarlin Insurance Agency, we've also se...Thu, 21 Apr 2011 10:13:03 -0500&nbsp;&nbsp;&nbsp;&nbsp; After reading a recent report on the 25 fastest growing industries for 2011, it was interesting to learn that 20% of these industries are technology/computer related.&nbsp; Here at the McFarlin Insurance Agency, we've also seen an increase in technology business.&nbsp; While the coverages for tech risks continue to expand and evolve, the one coverage we cannot stress enough to our clients is Technology E &amp; O (errors and omissions). "But we already carry general liability insurance," they say. "Why do we need <em>more</em> liability insurance?" <br /> &nbsp;&nbsp;&nbsp; Tech E &amp; O is designed to protect the insured&nbsp;against claims stemming from clients holding you responsible for programming errors, software errors, or the failure to perform work as promised in your contract.&nbsp; In other words they cover losses incurred that will cause a financial injury.&nbsp; Most E &amp; O policies include&nbsp;coverage for&nbsp;legal defense costs, which&nbsp;can often be as expensive as the claim itself.&nbsp; Additionally, we're seeing more and more contract provisions&nbsp;in our office that&nbsp;require tech companies to carry&nbsp; this important coverage.&nbsp; While general liability insurance is important (and in most cases inexpensive), it is limited in what coverage it affords to the technology industry.&nbsp; <br /> <br /> Have more questions?&nbsp; Give&nbsp;McFarlin Insurance&nbsp;a call today and we'll be happy to discuss more detail!urn:uuid:4a6754fa-d90b-4b0c-8387-bab77e14c57a<img src='http://www.mcfarlininsurance.com/img/%7Ewww.mcfarlininsurance.com/Lake_Elkhorn_Columbia_MD.jpg' align='left' />General Liability Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. General Liability insurance can prevent a legal suit from turning into a financial disaster by providing financial p...Mon, 07 Mar 2011 16:57:01 -0600<p><strong>General Liability<br /> </strong><img alt="" src="/img/%7Ewww.mcfarlininsurance.com/Lake_Elkhorn_Columbia_MD.jpg" style="width: 300px; height: 200px; float: right; margin: 0px 0px 7px 7px;" />Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. General Liability insurance can prevent a legal suit from turning into a financial disaster by providing financial protection in case your business is ever sued or held legally responsible for some injury or damage.<br /> <br /> General Liability pays losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations. <br /> <br /> <strong>Broad&nbsp;Scope of General Liability Protection </strong></p> <ul> <li type="disc">Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury </li> <li type="disc">Property Damage coverage for the physical damage to property of others or the loss of use of that property </li> <li type="disc">Products-Completed Operations provides liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or service your company provided </li> <li type="disc">Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents </li> <li type="disc">Contractual Liability extends to any liability you may assume by entering into a variety of contracts </li> <li type="disc">Other coverage includes: Reasonable Use of Force; Borrowed Equipment; Liquor Liability; Non-Owned Vehicles (such as aircraft and watercraft); Fire, Lightning or Explosion Damage; Water Damage Liability Protection; Legal Defense Costs; Medical Payments; Personal Injury; Advertising Injury; and specialized liability protection for specific business types </li> </ul> <p dir="ltr" style="text-align: left;">As a full service independent agency McFarlin Insurance has the in-house capability to handle all of your insurance needs.&nbsp; From large commercial accounts, contract surety bonding, group life &amp; health plans, to your personal automobile and homeowners policies &ndash; McFarlin Insurance can handle it all. </p> <p dir="ltr" style="text-align: left;">We are conveniently located in the Baltimore-Washington Metropolitan area just minutes&nbsp;from&nbsp;I-95 in Columbia, Maryland.</p> Call us today for a <a href="http://www.mcfarlininsurance.com/category.aspx?id=COMMERCIAL">Maryland business insurance</a> quote at <strong>(410) 312-7800</strong>.urn:uuid:24f7d31b-a7c3-4bcf-9bc5-45365b877124 When elderly drivers get behind the wheel, they often confront the harrowing reality that they cannot easily see other cars, pedestrians, or cyclists moving around them. This frightening effect of aging, it turns out, is not necessarily a result of ...Thu, 03 Feb 2011 07:35:39 -0600<div id="article-content"> <p>When elderly drivers get behind the wheel, they often confront the harrowing reality that they cannot easily see other cars, pedestrians, or cyclists moving around them. This frightening effect of aging, it turns out, is not necessarily a result of a reduced ability to perceive moving objects, as one might suspect, but a heightened awareness of the backdrop against which these objects move.</p> <p>A team of scientists led by University of Rochester Professor Duje Tadin has isolated the cause of this phenomenon, and the surprising results could not only help train elderly people to be better drivers, but they could also help psychiatrists better understand abnormal brain processes in psychological conditions like depression and schizophrenia.</p> <p>Their research, conducted at the Berenson-Allen Center for Noninvasive Brain Stimulation at the Harvard Medical School, was be published in the Journal of Neuroscience on January 25.</p> <p>In a healthy, young person, a brain region called the middle temporal visual area, or MT, actively suppresses often irrelevant background motion so that he or she can concentrate on the more important motions of smaller objects in the foreground. Previous studies have found that elderly people, as well as those with psychological conditions such as schizophrenia and depression, are better at perceiving motion in the background. But this above average motion perception is not something to look forward to as we age. Because the brain is spending its limited resources constantly paying attention to the unimportant motions of background objects, it has a harder time noticing the motions of smaller objects.</p> <p>&ldquo;The amount of visual information around us is huge, and we don&rsquo;t have the brain power to process it all,&rdquo; Tadin said. &ldquo;Evolutionarily speaking, moving objects are the most important visual features to detect quickly, because they could be your lunch or they could want to eat you for lunch. It just makes sense that our vision prioritizes processing them.&rdquo;</p> <p>Tadin and his colleagues discovered that the MT was responsible for this effect by using a technique called Transcranial Magnetic Stimulation (TMS). By precisely placing magnetic coils on the back of a subject&rsquo;s head, the scientists stimulated the MT with electrical signals for 15 minutes to temporarily inhibit its functioning. Then, while the MT was less active, they tested how well subjects identified motions of smaller and larger objects. They found that when the MT was inhibited, subjects had an easier time identifying the motion of large, background-like objects.</p> <p>These results indicate that an improperly functioning MT may be the cause behind better than normal perception of background motion in older adults.</p> <p>This knowledge could be useful to psychiatrists trying to better diagnose schizophrenia and depression, Tadin says. Current diagnostic techniques for these conditions can involve subjective and qualitative information like a history of hallucinations or feelings of apathy.</p> <p>But if a person also exhibits better than normal detection of background motion, it could be a quantitative confirmation that he or she has one of these afflictions.</p> <p>Source: University of Rochester (article retrieved from the Insurance Journal)</p> </div> <br />urn:uuid:5b416e72-4be0-4029-9b08-31eba3aa8008December 27, 2010&nbsp; Seventy-one years is a long time, especially for a small business.&nbsp; However, thanks to our innovative and forward-thinking staff, the McFarlin Insurance Agency plans on being around for at least another seventy-one!&nbsp;...Mon, 27 Dec 2010 15:17:57 -0600<p style="text-align: right;">December 27, 2010&nbsp;</p> <p style="text-align: left;">Seventy-one years is a long time, especially for a small business.&nbsp; However, thanks to our innovative and forward-thinking staff, the McFarlin Insurance Agency plans on being around for at least another seventy-one!&nbsp; But, we can&rsquo;t do it alone.&nbsp; We&rsquo;re currently seeking feedback from our existing and future clients on how we can make their insurance purchasing decisions easier and more streamlined.&nbsp; For example:&nbsp;&nbsp;</p> <p style="text-align: left;">-&nbsp;&nbsp;Is insurance something you feel comfortable purchasing online or would you rather have an expert available to discuss all&nbsp;&nbsp;&nbsp; available coverage options? <br /> -&nbsp;&nbsp;How often do you refer to your insurance policies to make sure your coverages are up-to-date and your limits are adequate?<br /> -&nbsp;&nbsp;What communication channels would you prefer to use when discussing insurance matters?&nbsp; Email, phone, LinkedIn, Facebook, etc&hellip;</p> <p style="text-align: left;">&nbsp;So give us a call, send us an email, contact us on Facebook, or send a carrier pigeon with your feedback!</p> <p style="text-align: left;">&nbsp;As our lives continue to move at a faster pace, the employees at McFarlin Insurance will continue to work hard to give you the expertise you need with the service you&rsquo;ve come to expect. </p>urn:uuid:0e9af040-e490-4d85-b584-56e55ca7211a<img src='http://www.mcfarlininsurance.com/img/%7Ewww.mcfarlininsurance.com/iStock_000006495345XSmall.jpg' align='left' />What is Business Interruption Coverage? A catastrophe, such as a fire, may shut a business down temporarily.&nbsp; While the business is not operating, business income can stop or decrease substantially.&nbsp; Yet, expenses can continue and may even...Mon, 25 Oct 2010 15:52:27 -0500<h2><img alt="Business Insurance" style="margin-right: 7px; margin-left: 0px; float: left; width: 300px;" src="/img/%7Ewww.mcfarlininsurance.com/iStock_000006495345XSmall.jpg" />What is Business Interruption Coverage?</h2> <p></p> <p>A catastrophe, such as a fire, may shut a business down temporarily.&nbsp; While the business is not operating, business income can stop or decrease substantially.&nbsp; Yet, expenses can continue and may even increase during this period.&nbsp; This is where Business Interruption coverage steps in.&nbsp; It is intended to cover the loss of net income, temporary relocation expenses, and ongoing expenses such as payroll, electricity, rent or mortgage.&nbsp; </p> <p><strong>Coverage Limitations</strong></p> <p>Insurance is designed to financially restore someone to where they would have been had the loss not occurred.&nbsp; Therefore, the business would be required to submit records that would provide a good indication as to what the business would have actually lost in net income.&nbsp;&nbsp; It is recommended that businesses keep a copy of at least 12 months of financial records off-site for this very reason.</p> Most policies include a waiting period, for example 72 hours, before coverage will begin.&nbsp; A maximum amount paid out each month as well as the amount paid out overall for the loss of net income is determined when the policy is purchased.&nbsp; &nbsp;The policy will also specify a maximum time the coverage will extend for.&nbsp; So for an example, a policy may state coverage will only apply for 120 days, include a limit of $120,000 with a monthly limitation of &frac14;.&nbsp; This would indicate the business owner would only be entitled to a maximum payment of $30,000 each month with a $120,000 maximum paid out over the course of 120 days.&nbsp; <p><strong>Extra Expense</strong></p> <p>Extra Expense coverage is used to provide relief from additional expenses a business incurs to keep the doors open, such as relocating to a temporary location while the primary location is being repaired.&nbsp; This coverage is provided in addition to Business Income coverage. </p> <p><strong>Extended Period of Indemnity</strong></p> <p>Typically, Business Income coverage will stop when business operations are resumed.&nbsp; Yet, just because business resumes, doesn&rsquo;t mean the normal flow of income immediately resumes as well.&nbsp; Extended Period of Indemnity can provide coverage in the interim, from the time the business is able to re-open its&rsquo; doors to when the income resumes to normal income levels.&nbsp; However, there will be a time limit imposed as to how long the coverage will apply as the insurance company can not guarantee income restoration.</p> <p><strong>How to purchase Business Interruption Insurance</strong></p> <p>Business Interruption coverage is not sold individually.&nbsp; It can be added to a commercial property insurance policy or a business owner&rsquo;s policy.&nbsp; <br /> <br /> Call us today for a <a href="http://www.mcfarlininsurance.com/category.aspx?id=COMMERCIAL">Columbia MD business insurance</a> quote at (410) 312-7800.<br /> <br /> </p> <h2>Columbia Maryland</h2> Columbia is a planned community that consists of ten self-contained villages, located in Howard County, Maryland, United States. Columbia is a suburb of Baltimore and Washington, D.C. It began with the idea that a city could enhance its residents' quality of life. Creator and developer James W. Rouse saw the new community in terms of human values, not just in terms of economics and engineering. Opened in 1967, Columbia was designed to not only eliminate the inconveniences of then-current subdivision design, but also eliminate racial, religious, and income segregation.<br /> <br /> Today, Columbia has a population of about 97,200 and is the most populous census-designated place in Maryland. By the early 2000s, the town had acquired many of the characteristics of other contemporary U.S. suburbs, such as increasingly large private homes on large parcels and "big box" retail stores accessible mostly by automobile. Rouse's ethos remains a strong influence upon the physical and political development of Columbia.<br /> <br /> (Source: <a target="_blank" href="http://en.wikipedia.org/wiki/Columbia,_Maryland">Wikipedia.org</a>)<br /> <p></p>