Surety Bonds for Contractors

As a contractor, you know that the industry has some strict regulations when it comes to state and federal projects, but it can be difficult to determine the right bonds for the job with so many options out there. You already know that you need certain bonds before you can legally break ground, but which bonds?

Here’s a brief overview of the most common bonds for contractors. For more details, contact your independent insurance agent.

·         Bid bond: Ensures that the contractor who wins the project bid will obtain a performance bond and begin work in a timely manner. Bid bonds are required during the bidding stage, before the contract is awarded.

·         Performance bond: Ensures that a contractor will complete the job according to the details and timeframe listed in the contract. If the contractor defaults, the surety company must find a replacement or compensate the project owner for losses.

·         Payment bond: Ensures that subcontractors, suppliers and laborers are compensated fairly for their contributions to the project.

·         Supply bond: Ensures that the project owner will be compensated in the event that the supplier cannot provide materials as promised.

·         Subdivision bond: Ensures that the contractor makes mandatory improvements during the construction of a subdivision, which may include sidewalks, curbs, gutters and other items as mandated.

·         Site improvement bond: Ensures that the contractor makes mandatory improvements to an existing building, while ensuring that new work remains within building code.

Questions about bonding your business? Call Security First Insurance Agency at (810) 732-5800 for more information on Flint surety bonds.

What Is Umbrella Insurance?

Basic liability insurance on your car or home covers losses, damages, lawsuits or other similar claims. If you are in a car wreck, your liability will cover damages to other people. Same for your home. If someone is injured at your house, liability insurance covers the costs medical expenses, lost wages and other associated costs.

However, there are limits on what insurance will cover. You can look at your policy or ask your agent what those limits are. Are they too low? That’s where umbrella insurance comes in.

Umbrella insurance takes over after those limits are met. An umbrella policy is usually written at a much higher limit than your auto or home insurance. If you are a fan of Dave Ramsey, you know that he recommends everyone have a minimum of $1 million of umbrella insurance. The $1 million is recommended because you want to protect your property. If you are sued and the costs exceed your regular policy, then your car and home may be in jeopardy. But, if you have an umbrella policy, then you have much more protection for your finances and assets.

But, what does umbrella insurance cover? It covers you if someone sues you for injuries from an auto accident or injury on your property. It can also cover legal fees, false arrest, libel and slander.
Umbrella insurance includes professional liability for teachers, psychologists, financial planners and investors. If your job involves providing services to clients, you need umbrella insurance on top of your professional liability insurance.

Umbrella insurance is what its name suggests. A liability insurance that covers a multitude of things. The best way to know if you need this insurance is to consult your independent agent.

Get the coverage you need. Call Security First Insurance Agency at (810) 732-5800 for more information on Flint umbrella insurance.

8 Tips for Lowering Your Renters Insurance Rate

Renters insurance is well known for being inexpensive, making it very valuable coverage. But why settle for an inexpensive price tag when you could reduce the cost even more? Here are some tips for how you can save on renters insurance.

1. Location: You may qualify for a lower rate if your apartment is located in a safe area with a low crime rate. Your chances of saving may increase if you’re located near a fire station.
2. Credit score: Individuals with good credit scores are considered to be less risky and may qualify for lower insurance rates. Request a credit report and fix any errors or concerns as soon as possible.
3. Method of payment: Insurance companies often charge a processing fee when you make a payment. This is often a larger sum when you mail in a check and a minimal sum when you pay electronically.
4. Deductible: This is the amount you must pay when filing a claim before your insurer picks up the rest of the tab. A higher deductible equates to lower premium payments.
5. Bundle: When you purchase renters and auto insurance (and any other insurance policy you desire) from the same insurance provider, you are often eligible for a bundle discount. This provides savings across all of your bundled policies.
6. Protective devices: Items like smoke alarms, fire sprinklers, burglar alarms and deadbolts can all lead to discounts due to the reduced risk within your rental unit.
7. Nonsmoking: Homes of nonsmokers have a much lower risk of catching fire. Ask your independent agent if you qualify for a nonsmoking discount.
8. Customer loyalty: Years of business with the same insurance provider may earn you a customer loyalty discount.

Ask us how you can save today. Call Security First Insurance Agency at (810) 732-5800 for more information on Flint renters insurance.

Is your Sleep Disorder affecting your Car Insurance?

If you suffer from a sleep disorder, it can affect every facet of your life. Most people don't give driving much thought, but if you haven't had a restful night's sleep due to sleep apnea, restless leg syndrome, insomnia or sleep deprivation, you could be putting yourself and others in danger.

According to the Centers for Disease Control (CDC), sleep disorders are one of the major risk groups when it comes to driving drowsy. Every year there are 5,000 to 6,000 fatal motor vehicle accidents that can be contributed to driving while tired. These numbers are probably conservative, and there are just as many accidents that are not fatal.

If you would never consider driving while intoxicated, driving while drowsy has surprisingly similar consequences. The CDC found that if you haven't slept in 18 hours, your impairment level is about the same as a person with a blood alcohol content (BAC) of 0.05. Those that haven't slept in 24 hours have the same judgment and reaction time of a person with a BAC of 0.10, which is illegal in all states.

If you're driving down the road and find yourself yawning a lot, it's time to take action. If you are hitting rumble strips or are drifting into another lane, pull over. Take a rest or let someone else drive. At the very least, take a brisk walk and get some coffee.

Sleep disorders are difficult to deal with during the night, but the consequences of these issues have to be dealt with during the daytime too. If you have a sleep disorder, consider whether you should be driving a car, because you could be putting yourself or somebody else at risk.

Stay safe on the road. Call Security First Insurance Agency at (810) 732-5800 for more information on Flint auto insurance.

3 Lesser Known Business Insurance Policies

Most business owners know the importance of property, liability and workers compensation insurance. But what about the assortment of additional business coverages that provide more well-rounded coverage for a variety of needs? This article discusses five lesser known business insurance policies that might be right for your business.

1. Key employee insurance: This policy protects your business from the loss of a key employee. Think about it—the continued success of your business is likely dependent on a few executive employees and their guidance. What would happen if one of them become disabled, fell ill or passed away? This coverage provides monetary rewards to compensate for the search for a new staff member, training said staff member and sometimes even lost profits that are directly related to the loss of the previous staff member.
   
   
2. Loss of income insurance: A covered event, such as a fire, tornado or severe storm, can interrupt daily business operations if the building is too damaged for employees to work. The lack of work can reduce profits, which can impact your business’ ability to uphold financial obligations, such as payroll, rent and utilities. This vicious cycle can be the demise of a business, unless you have loss of income insurance to cover the profits you’ve missed out on.
   
   
3. Equipment breakdown insurance: Businesses rely on computers and a variety of additional pieces of equipment in order to operate. If machinery or electronics get damaged or fail, this coverage can provide the funds to repair or replace such equipment. This includes phone systems, break room appliances, computers, printers, boilers etc.

We’ll help you find the coverage you need. Call Security First Insurance Agency at (810) 732-5800 for more information on Flint MI business insurance.

Don't forget these Top Trucking Safety Tips

Trucking is a dangerous job, between the obvious road hazards and the effects of sitting for hours on end. While you can’t avoid all of the dangers while hauling cargo, you can employ certain tactics that make the job safer for you and everyone else on the road. Try some of these safety tips while behind the wheel of a big rig:

• Seat belt: Seat belts are essential for stabilizing a trucker’s body during an accident. Without one, a person can be thrown through the windshield or side window, causing more damage as the truck continues moving without a driver.
  
  
• Brake: Big rigs take longer to fully stop than passenger vehicles. Applying slow, steady pressure to the brakes well in advance is required for safely stopping.
  
  
• Bad weather: Drive slowly during bouts of rain and other bad weather to keep from sliding or jackknifing.
  
  
• Blind spot: Make good use of your mirrors when turning and changing lanes to avoid accidents in a truck’s blind spot (or no-zone).
  
  
• Exit ramps: Slow your speed when driving over highway entrance or exit ramps. Taking the curves too quickly can cause loss of control or a rollover because of trucks’ high center of gravity.
  
  
• Cell phones: Talking on a cell phone is more distracting than you may think and texting while driving can have worse effects than driving while intoxicated. Limit phone usage to your breaks and, if you must make a call, use a hands-free headset.
  
  
• Rest: A lack of sleep can make you sluggish and irritable, while reducing your reaction time. Get a full night of sleep before climbing behind the wheel (which goes for any form of driving!).
  
  
• Breaks: Take a break every two to four hours to stretch out your arms and legs. Walk a few circles around your truck to relieve the tension that develops from sitting for extended periods of time. Breaks help you stay focused and feel refreshed.

The right coverage is a great way to stay safe. Call Security First Insurance Agency at (810) 732-5800 for more information on Flint MI trucking insurance.

Frankenmuth Insurance Makes Security First Associated Agency Preferred Agency

Frankenmuth, Mich. – At its recent Executive Round Table regional meeting, Frankenmuth Insurance recognized the Security First Associated Agency of Flint, Michigan as a “Preferred” partner with the insurance carrier.

The Preferred status the Security First Associated Agency has earned is a result of outstanding performance involving several factors, including insurance volume, partnership, growth, accounting practices, and claims handling.

The Security First Associated Agency and its staff have consistently fared well in this process, ranking among the top 15% of all agencies representing the insurance company. Due to their outstanding performance, professionalism and adherence to the highest service standards, Frankenmuth has awarded the agency with this prestigious classification for 2014.

“It is the loyalty and dedication of our Independent Insurance Agency partners that enables Frankenmuth Insurance to continue serving policyholders throughout the region with the best and most comprehensive insurance solutions,” says Frankenmuth Insurance President and COO Fred Edmond. “The effort and professionalism of the management and staff at the Security First Associated Agency reflects our own goal of exceeding the expectations of those we serve. It is indeed a privilege to honor the agency with our Preferred designation.”

At Frankenmuth Insurance, our promise is to provide security in troubled times. Frankenmuth Insurance is headquartered in historic Frankenmuth, Michigan. We are represented by local Independent Insurance Agencies who are dedicated to providing the right coverage to meet your needs. We are a financially stable and strong company with more than $1 Billion in assets and an A.M. Best rating of “A” (Excellent). Relying on our more than 145 years as an industry leader, you can rest assured we are With You All The Way.

For more information about Security First Insurance, or to get an Flint insurance quote, call 800-530-9225.

Bundle Your Policies and Save on Insurance

While the idea of insuring everything you own sounds great in theory, the truth is that many people must pick and choose the most important insurance policies according to what their budget will allow. Most people own, at the very least, homeowners and auto insurance.

But, rather than buying your home insurance from one company and your auto insurance from another company, why not bundle them together with one trusted insurance provider? Not only is it easier to maintain a single monthly payment and single renewal date, but it can also mean big savings.

Insurance companies are businesses, and, as such, their goal is to get more business from customers. By bundling multiple policies with a single insurer, you are effectively giving that company more business. Because of this, many insurers incentivize the purchase of a bundle by offering an across-the-board discount. That means that you can save up to 20 percent on your premium payments!

And remember, you’re not limited to only homeowners and auto insurance. The most common bundle in the US is auto, home and life, but most insurers will allow you to customize your portfolio with additional policies, such as RV, boat, motorcycle, disability and more.

Interested in even more savings? Many insurers offer a variety of discounts. You have a good chance of qualifying if you keep your driving record clean and you improve the security of your home. Basically, the less of risk you have of filing a claim, the less you can expect to pay for your insurance. Talk to your agent for more details today!

Want to learn more about bundling discounts? Call Security First Insurance Agency at (810) 732-5800 for more information on home insurance in Flint.

Independent Insurance Agents can help you fill Policy Gaps

When you’re purchasing insurance for your home or business, the most important investment you make is not the premium you pay, but the time you spend with your agent.
Once every three years, at least, sit down with your independent agent and get some good advice.

Some policyholders are disappointed when their expectations for insurance coverage are not met: they have a loss and file a claim, but things don’t work out the way they expect. In many instances, you can avoid a less than satisfying outcome by taking just a little time beforehand to discuss your situation and expectations.
For example:

• Businesses benefit from business interruption insurance, but they need to understand what’s covered and what’s not. It can be complex to establish appropriate limits to cover the interruption of income from a covered loss – funds you would need to pay bills, payroll, mortgages and other expenses. An agent can help you identify your specific needs.
• Many people don’t know that damage from flood is not covered under a standard homeowner policy, nor do they completely understand other water damage limitations: backup of sewer, hydrostatic pressure, sump pump failure, etc. An agent can help you understand these limitations and your options.
• A homeowner might have thousands of dollars of heirloom silverware – It’s not automatically covered for its full value in a standard policy. But you can get coverage. Your agent has to understand your specific exposures and expectations in order to advise you on the right coverage for valuables and collections.
• Rental cars – should you take the insurance offered by the rental company? It depends on your auto policy. For some of these things, even your agent may have to think about it. But you need to give them the opportunity to do so.

You can get quotes online for generic coverages, assuming the details of your situation are just like everyone else’s. But every situation is unique, and unless you take the time to identify what makes it so, an insurance company may assume your needs are generic.
After a loss, it seems we all have plenty of time to talk with an agent. But the best time to have that conversation is before the loss occurs.
Make an appointment with your insurance agent as you would any other financial adviser. Explain what is unique about you, your family, your situation, your plans and goals. Your agent will review your assets and risks and propose a customized insurance program from a reliable insurer. You’ll leave with more peace of mind.
The time you spend up front with a professional independent agent is an investment. You will be rewarded with a return on your investment: a solid insurance program with the right coverage for you and no surprises should you have a loss. (Source: cinfin.com)
We’ll help with all of you coverage needs. Call Security First Insurance Agency at (810) 732-5800 for more information on Flint Michigan insurance.

5 Risks Your Business May Face

Every business, big and small, faces risks on a daily basis. Though the risks are always there, you can combat them by planning ahead and putting security measures in place. Let’s look at five of the biggest potential risks and what you can do to minimize them.
1.       Legal risks: Today’s litigious society is the perfect breeding ground for a variety of lawsuits. Your business can be sued for poor product performance, third party injuries on the premises, copyright infringement, wrongful termination, libel, harassment and a host of other incidents, whether grounded or frivolous. The best way to combat this risk is to make sure your business is operating legally and ethically. Test products before selling, keep the workplace clean and tidy, buy all necessary rights and purchase business liability insurance that will cover legal and medical fees.


2.       Reputation damage: Social media makes it easy for customers and competitors to say nasty things about your business. The best way to combat this risk is to closely monitor your online presence and promptly address any upset customers to resolve the situation. Similarly, quality customer service can eliminate many issues. It’s better for a customer to say “I had a problem with Company X, but I feel better now that they worked with me to fix their mistake” than it is for a customer to say “I hate Company X because I had a problem.”


3.       Property damage: Natural disasters, storms, fire, theft and vandalism can all contribute to loss of property, which can mean building structures, inventory, equipment etc. If damages are severe, your business may lose profits if the company is unable to operate for an indefinite amount of time. The best way to combat this risk is to beef up your business’ security and to purchase business property insurance and business interruption insurance.


4.       Cyber risks: Digital data can be stolen by hackers, lost in a power surge or even leaked by fraudulent employees. The best way to combat this risk is to install top-of-the-line firewalls (even if that means hiring an online security consultant) and to purchase cyber risk liability insurance.


5.       Loss of a key employee: The illness, disability or death—whether sudden or foreseen—of a key employee can be detrimental to your business. Both temporary and permanent absences can significantly impact daily operations and profitability. The best way to combat this risk is to plan ahead for this possibility in your yearly business plans and to purchase key employee insurance.
We’ll help with all of you coverage needs. Call Security First Insurance Agency at (810) 732-5800 for more information on Flint business insurance.

How to Keep Your Pipes from Freezing

Frozen pipes may sound innocent enough, but the real problems arise if they burst. A crack as small as an eighth of an inch can gush up to 250 gallons of water each day, resulting in flooding, a breeding ground for mold and potential structural damage to your home. Both plastic and copper pipes can freeze and burst in any climate if three conditions are met: poor insulation, quick drops in temperature and thermostats set too low. So how can you prevent this expensive disaster?
Take some time to prepare your pipes for the worst of winter. If they aren’t already, insulate the pipes with heat tape or thermostatically controlled heat cables, focusing on the pipes in the attic and near outside walls. Check for air leaks near pipes and seal them with caulk or insulation. Even a small leak can let in enough cold air to freeze a pipe.
When the cold reaches freezing levels, leave your faucet open to drip warm water. That slow trickle can keep the water moving enough to avoid freezing. It also helps to leave cabinet doors open to allow the heated air to reach pipes underneath sinks. Even if you leave for a vacation, set the thermostat no lower than 60°F to give the pipes enough warmth. Remember, the interior of the walls where the pipes are located is a colder area than inside the living areas; a higher temperature is necessary so the heat can penetrate the walls and warm this interior space.
If your pipes do freeze, despite your best efforts, it’s important to stay calm and act quickly. Call a plumber right away. While you wait, turn the faucets on and try to warm the pipe with a hair dryer, starting close to the faucet and working back. However, do not use electrical appliances if there is standing water and do not use any open flame that would create a fire hazard. If your pipes burst at any point, turn off the water at the main shutoff valve and do your best to dry the mess while help arrives. Keeping the area dry and clean will prevent mold and mildew from causing further problems.
We’ve got your back when you need us most. Call Security First Insurance Agency at (810) 732-5800 for more information on Flint home insurance.

What Types of Trucking Insurance Are Available?

Trucking insurance is required by law for both businesses and owner-operators who provide trucking services. However, the legal requirements are few and there are many additional types of coverage that are designed to protect your trucking business more completely. Let’s look at some of the coverages that you may want to consider:

·         Primary Liability: Every rig, even leased units, must have primary liability coverage, which protects third parties who suffer bodily injury or property damage following an accident.

·         General Liability: This coverage protects third parties from injury or property damage from accidents that occur when trucks are not on the road. For instance, a warehouse worker could trip and fall while unloading a truck.

·         Physical Damage: This coverage protects your rigs from damage as a result of collision, fire, theft, vandalism or severe weather. The premium is typically a percentage of the value of your equipment.

·         Non-Trucking Liability: This coverage protects trucks and third parties when the driver is not under dispatch. This may include trucks that are parked.

·         Cargo Insurance: Covers any damaged or lost freight during transit. This coverage may have exclusions such as unattended vehicle and maximum theft limits.

·         Terminal Coverage: Covers freight located at terminals. This coverage may have time limitations, such as 72 hours per load.

·         Warehouse Legal: Covers goods that are warehoused in the event of loss, damage, theft or fire. The amount of coverage is dependent on the goods being stored at any given time.

·         Non-Owned Trailer: This can be divided into liability and physical damage. Both cover trailers that you pull for a third party.

Ask what trucking coverage is right for you. Call Security First Associated Agency at (810) 732-5800 for more information on Flint trucking insurance.