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R. David Bulen Insurance Blog

R. David Bulen Insurance Agency Paying too much for your Insurance? Not sure? Call us to compare. It’s fast, easy and best of all there is no cost to you! Experienced and licensed staff working for you to provide the best company, coverage and price available. You will always have a service team assigned to you. At each renewal we will quote your current policy to make sure you are still receiving the best coverage and price. Multiple policy discounts available. R. David Bulen Insurance is a professional team of caring individuals committed to providing superior products and service to our valued growing customer base. Are You A Business Owner looking for Competitive Insurance? Whether you’re looking for workers compensation insurance, commercial auto coverage, general liability or professional liability for your business, R. David Bulen Insurance is committed to finding you affordable and comprehensive insurance coverage, never compromising on protection or quality. You’re never just a number to us – and when you need your insurance coverage to respond, it’s like having family in the business. Looking For Personal Insurance? We have strong relationships with the most competitive carriers you’ll find anywhere. These strong relationships help us get you the valuable protection you need, and the fast – responsive claims handling service you expect when you need us most.

How Can Personal Liability Affect Your Company Bottom Line?

Lisa Mosby Lisa Mosby , 3/12/2014
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Personal automobile liability, homeowners' liability coverage, watercraft, aviation, and umbrella liability are designed to cover all the risks associated with day-to-day hazards. But, many times, entrepreneurs are not as vigilant with personal risk management as they are with their business'. So ask yourself: do you want your partner's 17 year-old son randomly choosing your next partner as the result of a DUI accident? Once the underlying limits run out, the partnership share, the stock ownership, the thrift plans, become vulnerable to seizure. Yes, your new partner might be a bit angry with your old partner. Of course we advocate safe sober driving, but any claim can exceed the statutory limits of liability and create an unpleasant internal operations problem for your company. Cover the real risks properly. Enterprise risk management uncovers this sort of hazard. Business continuation planning recommends surveying personal risk management among the owners and partners of any closely held company. Just as you protect your company assets and income against casualty and property losses, protect your partnership too. Review the personal lines limits of liability partners carry. Require at least several million dollars of umbrella coverage. Okay, you're asking why so high. Do you want your business to thrive for many years? Do you know how long it takes to get through the court system for a major liability case? If the injured party doesn't settle, the business assets and partnership could be at risk for four years. And if the case would settle for a million dollars today, claims inflation might make the payout three times that in four years. It is not entirely predictable. But it is predictable that your policy limit will not rise as the result of inflation. You must take action to increase that limit. Stay ahead of the liability curve and protect your business structure with proper personal risk management risk assessment, planning, and program implementation.