Tutoring business insurance isn’t required but may be necessary

Tutoring business insurance - Teacher and student

Though private tutors aren’t legally required to buy coverage, the right policy may be essential. Tutoring business insurance may not have been the first thing that popped into your mind when you decided on this job, but it can make all the difference if things take an unexpected turn. When you decide to begin as a tutor, it’s a good idea to consider your risk exposure. Before you start working, think about the many types of risk that you may face along the way. As much as we may not…

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Home sharing participants need short term rental insurance coverage

Short Term Rental Insurance - Airbnb

Airbnb, VBRO and HomeAway members need special coverage for brief or seasonal rentals. Home sharing has become a popular way to earn extra income from a property, but all too many of those owners fail to obtain short term rental insurance. Regardless of whether a condo, seasonal property or home is rented in its entirety or just a portion, these guests are not typically covered by standard homeowners insurance. That said, this doesn’t mean that there isn’t any coverage at all for these helpful income sources. There are many home…

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Independent hairdressers are learning the importance of hair stylists insurance

Hair stylists insurance - haircut - salon

This type of policy is more affordable and provides more coverage than many professionals realize. Salon owners may realize that they need hair stylists insurance among their business policies, but independent hairdressers frequently don’t realize the importance of this coverage. What is independent hairdressers’ insurance? Hair stylists insurance provides you with vital professional and general liability coverage. This is important regardless of whether you are giving someone a quick trim or are creating a drastic new look. Many stylists don’t realize that this type of niche policy for an independent…

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Climate change will be challenging for insurance companies, says Moody’s

Climate Change - Insurance - Earth in Flood and Fire

A new report revealed the impact of warming climates worldwide on the insurance industry. The impact of climate change on the economy will have an increased liability risk for insurance companies. Catastrophes related to extreme weather are becoming more severe and frequent, according to a Moody’s Investors Service report. The report pointed to the rising instance of weather disasters like Hurricane Harvey in 2017. Moody’s Investors Service recently released a report. It investigated the economic aftermath of climate change. Insurance companies will face an increased liability risk from more frequent…

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Standard homeowners insurance policy may not cover short term rental damage

standard homeowners insurance broken window vandalism

Property owners taking part in short term rental programs are often unaware of their lack of coverage. Property owners considering using their homes as a source of income may want to review their standard homeowners insurance policy before getting started. Many don’t realize that renting out their homes through services such as Airbnb and Kid & Coe stops their coverage as long as the renters are there. The reason is that a typical home insurance policy is meant to cover the homeowners as residents and their guests. This has become…

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Cost of hurricanes to insurance industry will break $100 billion, JPMorgan

cost of hurricanes to insurance

Insurers face massive bills from the three hurricane-level storms that made U.S. landfall, even before Nate. Though it’s too early to know the insured damage total of Hurricane Nate, the cost of hurricanes to insurance industry coverage providers in the United States will already reach $100 billion, says JPMorgan. This prediction aligns with other industry players, such as Fitch Ratings. The catastrophe left behind by Harvey, Irma and Maria will be a hard hit to insurance company earnings. At the same time, it’s likely that the cost of hurricanes to…

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California wildfire damage threatens homes, wine country and lives

California wildfire damage

Mandatory evacuations were ordered over the weekend to protect residents whose properties are at risk. Firefighters continue to battle Northern California wildfire damage as the blazes continue to be stoked by local winds. Evacuation orders were issued to residents in the wine country area as the fires continue to blast their way across the region. Despite the best efforts of local officials, at least 10 people have already been reported as killed by the fires. Twenty thousand people are now headed away to seek shelter. At first, hundreds of the…

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