F I R M Solutions, LLC

Errors and Ommissions

2011-03-07T17:00:00-08:00

What is E&O Insuance?

Errors and omissions insurance, commonly referred to as E&O, is professional liability insurance for companies and individuals. It covers any company or individual in the event of an error or omission made while servicing and/or selling products. If a client feels that a professional has provided services that did not yield the expected or promised results, that client has the option to take legal action against the professional or company. Errors and omissions insurance covers the judgments, settlements and defense costs incurred when a client takes legal action against a professional or company. Even if the client’s case has little merit and the allegations against the individual are groundless, proving a professional’s innocence can be costly enough to end even the healthiest business.

Our Business is Very Careful, Do We Still Need E&O Coverage?

Even the most cautious professionals and businesses are prone to the occasional mistakes. The painful truth is that mistakes, no matter how innocent, can cost a small fortune to rectify. A professional or business that is operating without errors and omissions coverage is taking an enormous financial risk. Even with general liability insurance, the monetary losses resulting from a misplaced shipment or medical malpractice are not covered. Errors & Omissions insurance protects businesses and individuals from embarrassment and bad reputations as well as losing clients.

Let FIRM Solutions help with taking a look at your business to make sure your properly covered. Give us a call at 888-471-FIRM (3476) 760-471-1312 or info@firmsolutions.net

Small Business Insurance

2011-03-04T06:00:00-08:00

Small business owners are a unique breed, resilient and despite the economic uncertainty that surrounds us all we continue to remain entrepreneurial. In order to keep up with today’s ever changing market place my small business clients are changing their business plans or aggressively changing directions to keep the doors open. Why is this important? As you change your business plan or model, you change your exposure to losses and change your level of risk.

This does not always mean buying some new fancy endorsement or increasing coverage. Thus increasing your insurance premiums. What it does mean is that by staying in touch with your agent, as you change, we can actually keep up with those changes. All too often I get a phone call from prospective clients that are shopping for new insurance package for their business. It’s all about the price, in the beginning. By the time the first conversation is over I usually hear things like no one has ever asked me that. But on my end I have a full understanding of what they do, the company history and more importantly where they are going in the next year and the next five years.

At F I R M Solutions we stay in touch with our small business clients, and not just at renewal. Maintaining an open dialogue with all our clients helps us make sure that our clients are always covered properly, all the time. I accept that responsibility as part of my job. On the other hand I expect my clients to keep me informed when they want to make changes to their business. It’s a true partnership and it works for both of us.

Professional Liability

2011-03-02T05:30:30-08:00

I recently had a conversation with a client regarding adding professional liability in addition to his commercial general liability policy. His response was that’s only for attorneys, real estate agents and physicians. True, those are popular professions that do require professional liability however, there literally hundreds of other classifications that need this type of coverage as well.

Engineers, therapist, counselors and consultants are a few of the often overlooked risks. One of the tools I use to identify the need for professional liability is point out the professional liability exclusion on the commercial general liability policy. It’s a good time to point out that the CGL policy protects them for the basics of bodily injury and property damage. In short, professional liability coverage provides protection in the event that an error or omission on “your” part has caused a financial loss for your client.

If you are in the business of providing a service to your client for a fee, you have a professional liability exposure. You may want to consider what will happen if the service is not done correctly, or on time, and it costs your client money or harms their reputation. Take a look at your last years client list and honestly review your exposure.

Not all professional liability policies are the same. This is the number one reason we take the time to learn what our clients are doing with their business. What’s the exposure and how is their operation different. from the standard ISO definition. Asking the right questions taking the time necessary to fully explain the risk to an underwriter will make a difference on the premium.

FIRM Solutions will take the time to learn about your business and the services you offer and make the correct recommendations for your insurance needs. Lets us help you with your professional liability needs.

888-471-F I R M (3476) 760-471-1312 or info@firmsolutions.net

Teen Drivers and the Road

2011-02-28T06:00:00-08:00

The impact of teenage drivers reaches beyond the drivers family and friends. In 2008 681,000 people were involved in crashes where a teen driver was behind the wheel. Another 40,000 were injured, and nearly 30 percent of those who died in these crashes were not in the car driven by the teen. This data was provided by Children’s Hospital.

The report focused on four key behaviors among teen drivers that are considered major indicators.

Failure to use seat belts.

Speeding.

Alcohol use.

Distracted driving. (cell phone, iPod and texting)

More than half of the who were fatally injured were speeding, 40 percent had a positive blood alcohol level, and half were not wearing seat belts. 16 percent were distracted, though that percentage is thought to be much higher and the fastest growing behavior.

Most of these tragedies are due to inexperience, and therefore preventable. States are stiffing up licensing laws for teen that are expected to help. Continuing education will also help. FIRM Solutions offers a teen driving program that when completed will give a 30 percent discount off standard rates for the teen driver. At a time when auto insurance rates tend to be the highest the newly licensed driver now has the option to sit down and watch an educational video, complete a workbook session and save major money. If your teen is a good student FIRM Solutions can increase the discount to 55 percent.

If your teen just started driving or will be getting their license soon remember that FIRM Solutions would like to partner with the parents. Providing proper coverage is important but offering real life solutions for your family is our job. Contact us at 888-471-FIRM (3476) or 760-471-1312 or info@firmsolutions.net.

Home Insurance

2011-02-25T06:00:00-08:00

If you own your home, FIRM Solutions, LLC offers several types of homeowners insurance policies that will fit your needs.

We give you the option to choose the homeowners insurance package you want and help you tailor them to give you maximum protection for your insurance dollar.

Homeowners insurance is designed to bring your home and possessions back to the same condition they were in before a loss occurred. There are several different types of homeowners insurance policies offered by a wide variety of insurance companies. As a result, not all coverages are the same. We review all your options and coverages so that you can make an informed decision.

FIRM Solutions, LLC homeowners insurance policies are normally issued on a Replacement Cost basis up to 100% of your Dwelling Coverage limit (Coverage A, as displayed on your policy declarations page). Replacement Cost is the amount required to repair or rebuild your home with similar materials. FIRM Solutions, LLC automatically includes additional coverage with our Extended Replacement Cost endorsement up to 150%.

FIRM Solutions, LLC homeowners insurance includes the following protections:

Dwelling coverage up to the limits you choose to purchase and defined by our Replacement Cost-calculations. Information is the key here, that’s why we spend the amount of time we due fine tuning this figure.
Coverage for your personal property up to the limits you choose to purchase. (Guranteed Replacement Cost coverage for your personal property. Coverage world wide)
Coverage for structures in addition to your primary dwelling, such as storage sheds, boathouses, and pools.
Coverage for loss of use, reimbursing you for expenses for loss of use of your home caused by named perils.
Medical expenses, paying up to $5,000 per person if someone is injured on your property.
Liability exposures, protecting you against certain risks up to $1,000,000 per accident for bodily injury or property damage.

Take the time to speak with an agent about insuring your most important asset, your home.

Give us a call if you have questions or want to discuss your present coverage. 1-760-471-1312 1-888-471-FIRM (3476) or info@firmsolutions.net.

LIFE INSURANCE

2011-02-23T06:00:00-08:00

Life exists between the hours of the workweek. Most importantly, it exists in the eyes of sons and daughters and those you hold close – those forever expecting your safe return home.

Life insurance from FIRM Solutions, LLC gives you the opportunity to protect your family’s dreams, ambitions, and finances should an unexpected death occur.

With life insurance from FIRM Solutions, LLC, you can help your family:

Keep the ability to pay the home mortgage.
Maintain their current standard of living.
Pay off debts, estate taxes, and final expenses.
Create a fund for college education.
Create a fund for a family member with special needs.
Protect your family’s dreams for the future.

A good life insurance policy would handle the financial responsibilities you left behind so family members won’t be burdened. Unlike the funds from an estate, the benefits from a life insurance policy will shoot straight to the beneficiaries, without any roadblocks. Tax Free!

In my 20 years experience in this business, no recipient of a death benefit has ever complained that their loved one had too much life insurance. Every aspect of a untimely death will be made better with the presence of LIFE INSURANCE.

1-888-471-FIRM (3476) 1-760-471-1312 or info@firmsolutions.net

Contractor Bonds

2011-02-21T06:00:00-08:00

California, like almost all states, requires that contractors obtain and carry license bonds. While most new contractors know that they need to secure a bond to start and maintain a successful business many people do not know exactly what it means to be bonded. Allow me to briefly illuminate the purpose that a bond serves and how they work.

A surety bond is a three-part agreement among:

        The contractor, who buys the bond
        The obligee, who requires the bond
        The company, who sells the bond

The primary purpose of contractor license bonds is to protect the consumer from any wrongdoing on the part of the contractor. Among the parties who require these bonds are local and state regulatory offices and consumer protection agencies. Likely the major misconception about surety bonds is that they protect the contractor. In all actually, they protect the consumer. In the event that a claim is filed against the contractor he or she is required to pay out on that claim. Their bond can give them credit to do so, as they are truly a form of credit, rather than a form of insurance, which protects the obligee. Claims on a bond can occur for a variety of reasons, but often the claim falls into one of two major categories; namely the financial misconduct of the contractor or the contractor's failure to follow state or local laws and regulations.

FIRM Solutions can quote and issue bonds directly over the phone in most cases and accept all forms of payment. Most applications are simple one page apps that require the most basic information. Call us today for all your bonding needs.

info@firmsolutions.net or 877-471-FIRM (3476) or 760-471-1312

Home Based Business Insurance

2011-02-18T06:00:00-08:00

More and more homeowners are operating their new businesses from home. The advantages are obvious: running a home-based business is convenient and cheaper than renting or buying commercial office space. But running any business — including a home office — without adequate insurance coverage can be a recipe for disaster.

Neglecting to purchase separate property and casualty insurance for your home-based business can be a costly mistake. Your homeowner's policy might not offer enough protection. Most homeowners' policies cover only $1,000 to $2,500 for business equipment, and do not offer liability protection or loss-of-income coverage.

When deciding how much property and casualty insurance to purchase, examine your business and the amount of money you risk losing. Your home-based business should be covered for incidents such as:

Client injury. If clients physically enter your home, you should be covered for injuries due to negligence. The coverage will pay for your client’s medical expenses and the cost of defending a lawsuit if you're sued.
Business interruption. If damage to your company's operations limits your ability to work, you'll be covered for lost wages and ongoing expenses, including suppliers' invoices. Interruption insurance is typically included in your business property insurance, but depending on your other arrangements, you may wind up buying it separately.
Business equipment damage. If your equipment is damaged or destroyed by theft, fire, or a natural disaster, you'll be reimbursed for the cost of repairing or replacing it.

If your home-based business requires a separate property and casualty plan, consider purchasing an endorsement; it increases the coverage of your homeowner’s policy and starts at about $15 a year. This option may make sense if you have inexpensive business equipment, no liability exposures, do not store business inventory at home, and do not rely solely on your income for survival.

You should think about purchasing a business owner's policy (BOP) if you stock a lot of inventory, manufacture products, or are at high risk for professional liability. BOPs offer the most comprehensive coverage available; in addition to providing home-office coverage, BOPs offer extended liability and equipment coverage.

HOME & AUTO Discounts How Much Will You Save?

2011-02-16T10:07:00-08:00

Home-auto package discounts are one of the easiest ways to save money on your homeowners insurance. In fact, the Home-Auto Package Discount saves our customers, on average, over $500 a year on their homeowners and auto insurance.

Finding the best home-auto discount is easy at FIRM Solutions. We have partnered with some of the best home and auto insurance companies in the country to deliver you the best rates and most comprehensive coverage in the country.

The single best way to save money on your insurance is to capitalize on the package discounts. Contact us at 888-471-FIRM (3476) or 760-471-1312 or info@firmsolutions.net to find out how.

GARAGEKEEPERS COVERAGE-THE DETAILERS SIDE

2011-02-14T06:00:00-08:00

From the customers point of view. Finding a DETAILER or auto repair facility that does high quality repairs at a good price can be difficult enough, but developing a relationship of complete trust is even more of a challenge.
Auto dealers, body repair shops, auto painting shops, DETAILERS, service stations, storage garages and parking lots all are businesses wherein commercial general liability and business auto liability insurance are heavily intertwined. For this reason these businesses are insured by a “Garagekeepers Coverage" policy.

What is most unique about this insurance is the “Garagekeepers coverage." It is coverage which applies to vehicles left with the business, by a customer, while it is being serviced, stored or DETAILED by the employees of the business. In most cases you will never know that an adverse event involving your vehicle has occurred while in the care, custody and control of a shop, garage or DETAILER. As you can imagine, it is not in the best interests of the business in question, to advertise its lack of caution or accidental mishaps. So what if something does happen to your car?

Garagekeepers will pay for any damages incurred while your vehicle is in the care, custody and control of the business. This means that you do not have to involve your own insurance carrier in the claim or repair of damages. You won’t have to pay your deductible first and wait for the possibility of reimbursement. The insurance for the business will be first in line to respond on your behalf.

What if you leave your vehicle with a DETAILER for a complete interior and exterior detail. The DETAILER has limited parking and moves your vehicle to curbside parking in the course of waiting to get to your car. While it is parked on the street a careless motorist damages the entire left side of the vehicle while driving down the street. The DETAILER is clearly are not legally liable in this case. Your vehicle was parked properly and was unattended at the time of the crash.

If the DETAILER has no Garagekeepers coverage most likely you will be notified of the accident and must report it to your own insurance carrier. It will be considered a no fault loss since your vehicle was parked and unattended, but you will need to be actively involved in the claim process and repair since your vehicle’s insurance policy is primary.

If the DETAILER is a professional, he realizes the importance of being properly insured. The DETAILERS garagekeepers policy will handle the claim and damage repair, and you will not be asked for a deductible. The shop will pay any deductible that applies to the loss. You the customer are out of pocket zero.

FIRM Solutions offers a wide verity of commercial insurance products. Our Garagekeepers package is one of the industries best. We have preferred underwriting status with the nations top commercial insurer. Our prices make it affordable to the new business owner and start up alike. Don’t run your business bare because you think it’s going to cost thousands of dollars to get Gargekeepers coverage. Our average policy for the new DETAILER runs $60 a month.

Give us a call at 888-471-FIRM (3476) 760-471-1312 or info@firmsolutions.net