Protecting Whats Yours Presented by: Mark Baker Susie Rollheiser, - PowerPoint PPT Presentation

Protecting What’s Yours Presented by: Mark Baker Susie Rollheiser, CISR

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Overview If you don’t buy the right insurance, don’t buy any! Today's Topics  Insurance Terms  Business Risk  Insurance Products to protect your risk 3

Insurance Terms  General Liability  Coinsurance  Property Insurance  Insured to Value  Workers  Bi lateral Contract Compensation  Premium  Business Auto determination  Umbrella  Endorsement 4

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Risk  What is Risk  How to manage  Avoid  Reduce  Retain  Transfer 6

Insurance Tools  General Liability  Property  Inland Marine  Workers Compensation  Auto  Umbrella  Life  Health 7

General Liability  What is it?  Why do I need it?  How can it help protect me?  What’s an audit?  Pay me now or pay me later!  Classification  Care, Custody or Control Exclusion 8

General Liability  Classification  How to determine premium basis  Occurrence Coverage Limits  General Aggregate  Exclusions  Endorsements  Audits 9

Property  Insured to Value  Coinsurance “You cheat, we cheat”  Replacement vs Actual Cash Value  Market Value 10

The UNRELIABLE Eye Your Property as seen by… ... Your Lender Yourself 11

Your Buyer Your Appraiser 12

Your Tax Appraiser 13

Inland Marine Bailee’s Customer Coverage—Protects clients’ property that is left in  the care of your business; e.g., if you operate a warehouse or repair shop. Builder’s Risk— Protects structures and materials during new  construction projects or renovations. Exhibition and Fine Art Coverage — Keeps valuable items protected  while on exhibit, in transit or on loan. Installation Floater — Covers materials from the moment they are  loaded onto a truck until they are put to use or installed. Motor Truck Cargo Coverage —Keeps clients’ goods protected while  your business transports and delivers them. 14

Workers Compensation  Why do I need it?  Who is an employee?  Job Description  Subcontractor  Officer Included/Excluded  Premium Basis  Classification  Audit 15

Auto  How do you use your vehicle?  How is the vehicle titled? 16

Auto  Matching the liability limits  Driver Other Vehicle  Load and Unloading  Trailers used in business 17

Umbrella  Excess liability coverage above the limits of a basic business liability insurance policy. It also fills the gaps in coverage under the basic policies.  Example: Basic policy $1,000,000 exhausted by claims, the umbrella will pay the excess above $1,000,000 up to the limit of the umbrella 18

What’s under the Umbrella? $1,000,000 $1,000,000 General Workers Auto Liability Compensation 19

Life Insurance  Whole Life  Term Insurance  Return of Premium  Universal Life  Buy Sell  Key Man 20

Health Insurance  Individual  Group  Supplemental Products  Dental  Vision 21

Where do I buy Insurance  Qualified insurance agent  Reputable  Knowledgeable  Independent Agent 22

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Mark Barker 816-632-7248 mark@jblbinsurance.com Susie Rollheiser 660-425-3134 susie@jblbinsurance.com 216 E 6 th Street Cameron, MO 64429 24