We regularly like to share claims scenarios we encounter with restoration contractors. The hope is that by sharing them we can help other avoid the same type of claim. We accidents may occur. However, when employees are involved in fraudulent claims it hurts entire communities, especially an employer, whose workers compensation insurance premiums increase due to the loss. At ARI we are dedicated to protecting policyholders by combating fraud. Below is a story of a win in the battle against workers compensation fraud: Sam was a laborer for a restoration contractor who felt he should only work when he wanted to. Before starting his shift on a Friday evening he devised a plan to skip work and
As a restoration contractor, it’s essential to have maximum insurance coverage to protect your business and financial assets. While you may have coverage for liabilities, litigations and other risks, some of your equipment might not be properly covered. Certain types of equipment that is easy to transport isn’t always covered under other commercial property insurance policies, therefore making equipment floater insurance coverage vital. What is equipment floater insurance cover? Equipment floater insurance coverage is an insurance policy that is separate from other types of commercial property insurance coverages or liability insurance. Equipment floater insurance offers protection for cont
Unfortunately, for restoration contractors auto accidents are one of the primary sources for insurance claims. Given this fact, properly and thoroughly investigating all auto accidents is of extreme importance. Especially since the investigation will often uncover the conditions that caused the crash in the first place. Why Perform a Crash Investigation? Proper investigation helps a company can prevent future crashes, reduce human suffering, prepare for claims defense, and contribute to the bottom line. Continuous improvement can be attained by determining preventability, and by determining the need for remedial training & disciplinary actions. Who Should Investigate the Crash? The safet
One of the coverages included in our unique insurance program for restoration contractor is Lost Key Coverage. Unfortunately, we have found that many restoration contractors don’t know what this coverage is and how it can protect their business. What is Lost Key Coverage? The lost key coverage endorsement typically removes two exclusions and a section of the WHO IS AN INSURED provisions within the general liability policy. It provides coverage for liability arising out of property damage due to loss arising out of the loss of a customer’s keys. It also makes employees and volunteers insureds for liability arising out of property damage to property: Owned, occupied or used by Rented to, in
