Welcome to MoneyMakingCrew, Today we will be talking about workers’ compensation and how it works. Maybe you need to buy the insurance yourself or it is your employee’s right to get it for you, its benefits, and a lot more. We will be starting by knowing what workers’ compensation is.

What Is Workers’ Compensation?

Workers’ compensation is also known as workers comp short and it is a compulsory government program that provides insurance benefits for workers injured or gets ill as a result of their job. It’s more like disability insurance for workers that provide cash benefit, health care, and some other injured workers as a result of work.

Basically, workers’ compensation is handled differently in different countries like the United States it is been handled by individual states which means the benefit defer from every state.

Do I Have To Buy Workers’ Compensation Insurance?

In a normal sense, the name worker compensation means its compensation for workers. A sole proprietorship or partnership does not require worker compensation. Though some states still allow sole proprietorship and partnership to cover themselves with workers comp while some will not.

It is very important to emphasize that no matter how small your organization is if your workers are injured or killed in the cause of working for you, you are responsible to render worker compensation for the worker if the worker is protected by the state. This easily bankrupts small businesses which is why most always do a proper check before employing any worker and also do observe safety precautions and measures.

Who is exempt from workers’ compensation?

Only salary workers are entitled to workers’ compensation but all freelancers and contractors are not eligible for it.

But definitely, you need to know the rule of your state because every state has its one rules and exemptions some exclude farm labor, domestic workers, musicians, and a lot.

Are My Employees Covered When They Work Or Travel In Other States?

This is a very common and good question employers do ask if there are workers who get injured working for them but traveled to the other state covered with the main state workers’ compensation.

Basically, since worker compensation policy varies from state to state it means they are covered within the state. Whereas if your worker gets injured in the other state while working for you and that other state benefit favored your worker he/she can file a workers comp claim in the other state that will not affect the main state.

Workers Compensation Benefits

There are a lot of benefits workers do get when get injured or ill during working hours:

Health care cost compensation: This is the main benefit as the health of your workers is very important for you and for your company so the policy covers the medical bill of workers.

Replacement Of Salary: It is very nice that workers’ compensations are not taxable which simply means government or federal will not collect tax on workers who are covered by workers’ compensation. In a null shell salary replacement paid to workers covered by workers’ compensation are usually lesser than workers’ salary.

Small business protection: You are to rest assured that work comp will get you covered if you are ill or get injured or even dismissal of workers during working hours.

Generally, The National Federation of Independent Business (NFIB) maintains the requirement for workers’ compensation.

Conclusion

Worker compensation (WORKERS CAMP) is a very important policy all workers need to confirm their availability and need to know all about it. Ask a lot of questions about this while getting a job and as an organization, you need to keep this in mind and make necessary policies and be aware of what your state policy says about it and how it works. While workers get benefits there are some exceptions like if workers’ injuries did not fall under working hours. And you need to know impact if your worker’s compensation impacts your family or not and lot before taking a job.

Everyday airline usage, flight up and down will make you want to buy flight insurance but you will want to ask if flight insurance really worth buying. You will need to read this to understand maybe you should buy it or not and considering buying it we will give you the best 5 flight insurance you can try out.

What is Flight Insurance?

You really need to get this straight flight insurance that covers the cost of your flight. This type of policy covers cancelation or interruption of trips, stollen of luggage, and a lot regarding your airline journey.

What does Airline Flight Insurance Cover?

Flight insurance covers a lot especially if you are using a flight for transport on your day-to-day business or activities. We will be giving you a few of what it covers.

Health Insurance for traveling: Flight insurance is worth it here even if you have medical insurance in your state what about when you travel outside your state? You need to check the insurance company you purchase your flight insurance from maybe it includes health insurance because some are weak in this aspect.

Flight cancelation for one reason or the other flight insurance: Anything can come up and after you have booked a flight and you want to cancel the trip but wish to get compensation.

Yes, the normal ticket fee is non-refundable but if you have flight insurance for conciliation then you should get around 75% of your flight fee back. There is a lot of cancellation flight insurance depending on the reason you are canceling the ticket make sure you read a lot about that from the company you are getting that from.

Lost baggage coverage or delayed in your baggage: Depending on your policy limit this flight insurance covers you when your baggage is delayed, damaged, or lost.

Coverage from flight delays: This is really awesome depending on your policy if your flight is delayed by a certain amount of time you get compensation for that

What’s Not Covered by Flight Insurance?

Of course that you get flight insurance doesn’t me you are covered for anything about your flight trip. We will be giving you a few things your flight insurance does not cover.

Any accident caused by you taking drugs or alcohol: This is very clear if you get hurt during your trip medically but this was as a result of intake of alcohol or drugs then your medical flight insurance does not cover that.

Natural disasters before getting the insurance: If you purchase flight insurance where there is frequently any type of natural disaster then if it occurs during your insurance timeframe you are not covered so make sure you are aware of all that.

Any other incident not mentioned in your insurance paper: This is very important if you get any insurance make sure you read all that it says your covers and if anything you think supposes to be there is not there ask if it is to be included or to be aware then you can know to compare or just take it.

Is Flight Insurance Worth It?

This is really up to you know we have given you some things it covers and not covers and also a few details about it. You need to juxtapose all that and know maybe it is worth it for you independently to get flight insurance or not.

We will be giving you a few best flight insurance you can check out if you think it is worth it and want to get it.

5 Best Flight Insurance Companies

These are a few awesome flight insurance companies you can check out, compare them, and make sure it’s fine by you or you getting anyone you want even if outside this list.

Allianz Travel: They are good at flight insurance they insured over 50 million travelers every year. The holding company Allianz SE has been in business for over 1100 years so they actually know the business

Sure they protect you from trip cancellation or interruption just as mentioned in this article.

AXA Assistance USA: This is another awesome insurance company you can get your flight insurance from. They have three plans the Silver, Gold, and Platinum plans.
They give you up to $250,000 for a medical emergency.

Travelex Insurance Service: They are a good insurance company too and cover up to $500,000 for emergency medical evacuation. It’s nice to know that they are a member of the US Travel Insurance Association (UStiA)

WorldTrips Travel Insurance: They have been in business for a long too and have different options or plans Premium, Group, Annual, and International Student options.

Conclusion

It’s a wrap for today’s flight insurance article and we will always advise you to always read your insurance documents, ask a lot of questions, best hire an expert to help compare the best you can do for your self all this will help you save a lot.

Landlord insurance is a very similar type of insurance to homeowners insurance though they both protect your property landlord insurance protects your rendered property against risk from those who rent them and also protects you in case you lose your rental income.

What is Landlord Insurance Policy?

A landlord insurance policy is a very special type of insurance policy that protect homeowners against some losses they can incur in their renter properties. This policy covers a lot depending on the insurer and you need to check all was covered by the insurance company you are using basically they cover fire, theft, and damages to your renter properties,

What insurance do I need as a landlord?

This basically depends on the company you are using for your insurance policy, the frequency of your renters, and also the length.

Frequently like: The frequent short-term renters: A good example here is Airbnb. Those property owners who rent out their properties for short-term periods will be known as business owners. It should be known that this type of landlord insurance is not covered by the normal homeowner’s insurance but instead covered with a commercial insurance policy that best fits.

Occasional short-term renters: These are other property owners who rent their homes occasionally for short periods. This set of homeowners may not necessarily need to get more insurance if have an existing homeowner insurance policy. The homeowner insurance still covers this set of landlords but definitely, they should contact their insurance company to confirm if the coverage still covers it because some will require additional rider insurance though all still fall under home insurance policy.

Those long-term renters: For Landlords who rent their properties for 6 months and above will need landlord insurance also known as a ‘rental dwelling policy’ and should not be confused with homeowners insurance because landlord insurance or rental dwelling policy is basically for properties that are meant to lease out. It is advisable not to risk your property because landlord insurance cost over 25% more than homeowner insurance, they are not the same and you should get the appropriate policy.

What does landlord insurance not cover?

These are a few things you should put at the back of your mind that your landlord’s insurance did not cover:

• You should know that it did not cover your home once you are leaving with your tenant
• Does not cover any of your belongings that have nothing to do with the maintenance/upkeep of the property
• Maintenance or repair of home appliances
• It did not also cover your tenant’s belongings

What Does Landlord Insurance Cover

Landlord insurance covers not only your dwelling but your other properties like personal and liability properties but you should be aware of some coverage:

Dwelling coverage covered your properties in case of fire damages or any other damage by a covered peril

While basically, some liabilities will fall under tenant responsibilities but if liability is found to be your responsibility liability insurance will cover you financially and legally.

Your other structures like fences, shed, etc are covered by the landlord’s insurance any damages caused include perils.

Any of your personal properties that are used to maintain your rented properties are covered not other properties that have nothing to do with your renter’s properties like tv or such but damaged lawn equipment and appliances included.

5Questions to ask your insurance broker

These are not only applicable to landlord insurance but if you are purchasing any insurance you should speak to a licensed insurance broker regarding that before you purchase it at all. Also, you should consider insurance quotes and shop around to know the best prices and best coverage to fit your property.

Here are some questions you should ask brokers while speaking with one:

1. You need to ask if your coverage cover events of terrorist attack
2. You also need to know all your necessary deductibles in your policy
3. Ask if there are any insurance discounts that may apply to your
4. You need to ask if there is any replaceable cost or cash value calculated under the policy you intend to buy
5. Also, ask if there are any upgrades/repairs that you can do to reduce the insurance cost

Conclusion

To buy any insurance policy you need to meet the best insurance broker and ask questions. In fact, jot down over 20 questions you will love to ask including those questions we suggest above. Make research and do a lot of what that insurance policy covers and what it does not covers also if it is the best insurance policy for that purpose. Getting quotes and comparing prices will also help you not spend unnecessarily and also know the best company that fits the purpose.

We have given you the best elementary knowledge you need about landlord insurance policies if you have any questions or suggestions kindly leave that in the comment section.

If you’re about to have a home or house built, you might want to understand what builder’s risk insurance means and whether you need to have this risk insurance or not.

All the information you seek is here. In this post, we’ll give you a full detailed guide about Builder’s risk insurance.

Just read on as you learn all but, before we proceed, let’s understand what builder’s risk insurance actually means.

What is builder’s risk insurance?

Builder’s risk insurance is a policy or home construction insurance that’s purchased by home builders or contractors to protect your homes during the construction or renovation of a home.

Why this policy?

Well, having or carrying a builder’s risk insurance is important for you and your home because it protects your financial crisis in case there is damage or loss during the construction or renovation of your building.

Builder’s risk insurance protects a home under construction or during major renovation against theft of building materials, vandalism, fire outbreak that might destroy your built house, or in the case your home collapses and needs to be rebuilt. This policy is vital as it helps both home builders and homeowners to stay on their building budget.

However, have in mind that there is a slight difference between the homeowner’s insurance and the builder’s risk insurance.

What is the difference between home builder’s risk insurance and homeowners insurance.

As stated above, the builder’s risk insurance is meant to be carried during the time of the Construction or only for homes still under construction whereas Homeowners insurance is for completed homes. The homeowners carry this policy the whole time they live or reside In the home.

What does builder’s risk insurance cover?

Builder’s risk insurance covers your building while it is still under construction, it covers building tools or materials being used on the site during construction, and loss or damages resulting from explosion or fire, tornadoes, aircraft collision, vandalism, theft, etc. But does not cover loss or injuries caused by floods, earthquakes, war, employee theft, rust, damages due to poor or faulty design, etc.

Having a builder’s risk policy is essential. For instance, if your building collapses during construction because of poor design and someone is injured, you will have to provide a builder’s risk insurance coverage to your insurer to pay for the damages or loss.

However, understand that insuring a building that is under construction is different from insuring a home that is already built, as each requires different coverage. So, homeowners insurance protects the structure of your home and covers you in case someone is injured on your property or home.

Between a builder and homeowners who pay for the builder’s risk policy?

Well, some builders expect homeowners to purchase a builder’s risk policy before the construction begins. This is so that they don’t have to foot the bill for the cost of premiums.

So as a homeowner, it’s important to inquire or negotiate with your contractor to know if he does have coverage, the type of policy, and the limits of the policy.

Hence, there is no straightforward answer to the question of who covers the cost of a builder’s risk insurance between the home builders and property owners as both parties have to discuss and decide on who pays or carries the builder’s risk insurance.

Still, a homeowner needs to have or carry General liability insurance to protect both the builder and the homeowner.

What is the cost of builder’s risk insurance?

The cost of purchasing a builder’s risk insurance according to the current report is between 1% to 4% of your building budget though this percentage is based on some factors such as; the insurer company, the size of your building, type of project, the location of your house, materials to be used, and a lot more.

How long does risk policy last after purchase?

The duration of a builder’s risk policy varies depending on your insurance company and the policy plan you choose or paid for.

But generally, the builder’s risk insurance last for 9 to 12 months. But it can be renewed in case something goes wrong and the construction is delayed.

2 amazing benefits of having builder’s risk insurance.

Here is the reason why you need to carry or purchase a builder’s risk policy.

Support home investors.

It protects house or home investors from loss or damages that may occur during or after the construction of their estates.

Covers building materials.

It also covers the risks associated with construction site equipment such as tools and other building materials from a new home build to a major home renovation.

Final words.

A builder’s risk insurance is designed to protect you and your home during a new home construction or renovation project.

As we are building or renovating our homes, vandals may strike, the building may collapse, or fire may break out destroying your building. Hence, homeowners or builders need to purchase or carry a builder’s risk policy to protect their finances if any anything goes during renovation or the construction of the new home, then your insurer can pay back for the loss or damages done during the building.

Happy reading this well-detailed post from our website. Please assure to write your opinions in the comment section below if there is any idea you wish to recommend.

Good luck!

The cost of health care gets expensive each day including taking care of pets’ health, but thankfully, nowadays there are pet insurance companies that provide low-fee cover that helps to reduce the costs of pets’ medical treatments.

If you’re a pet owner and have once asked the question “how does pet insurance works?” then you need to read this article till the end.

In this article, you’ll learn what pet insurance is, how it works, and its pros & cons.

Just stick around as you read to learn all.

Let’s get started but first,

What is pet insurance?

Pet insurance is a health plan or care policy that a pet owner pays to an insurance company for his or her pet’s medical treatments. Pets include; dogs, cats, birds, rabbits horses, etc.

This insurance policy is paid either on a monthly basis or yearly, depending on the insurance company or policy you choose.

Pet insurance is vital to pet owners as it covers your pet’s unexpected medical expenses that may come as a result of a pet’s accident/injuries or illnesses such as broken bones, dental extraction, cancer, blood test, emergency exam fees, and lots more.

How does pet insurance works?

If you have a pet and need pet insurance for it, see how it works:

You meet any pet insurance company of your choice. To have your pets insured, you are to make a payment known as a premium to the insurance company which covers your pet’s medical expenses when they become ill or injured due to an accident.

Then whenever you make a claim on behalf of your pet’s health, the insurance company will pay for all the loss covered under the policy.

However, know that pet insurance does not cover pet Foods, vitamins, breeding, pregnancy, injury caused by fighting with other pets, experimental treatments, etc. And if you don’t make a claim, you won’t get your money back.

A step-by-step guide to getting pet insurance.

1. You need to schedule a vet appointment with a veterinarian.
2. On the scheduled date, take your pets to see the veterinarian.
3. Pay the veterinary bills.
4. File a claim either through the insurer’s app or online depending on what is required by the insurance company.
5. Wait for your claim to be approved.

Once you submit your claims to the insurance company, they will go through it. This will take a few weeks to be approved then you will be issued an allowable reimbursement via email or paper check.

However, have in mind that most pet insurance companies only cover dogs and cats. Though there are some companies that cover other types of pets as well like; ASPCA offers pet health insurance for horses, and Nationwide has exotic pet insurance, which covers small mammals, birds, rabbits, and more.

How much is pet insurance?

Well, according to the North American Pet Health Insurance Association(NAPHIA), the average pet insurance cost is approximately $40 to $50 for a dog and $30 for a cat, although the cost of a pet is determined by the breed of the pet, size & weight, age, the type of coverage plan you choose, and the insurance company policy.

What are the types of insurance policies available?

There are mainly two popular types of insurance policies:

1. Accident-only policy.

This provides reimbursement for emergency care related to your pet’s accident.

2.      Accident & illnesses policy.

This will cover or provide reimbursement for both your pet’s unexpected illnesses and accidents.

Now let’s see the pros and cons of having pet insurance.

Pros of pet insurance (Advantages).

There are lots of benefits that come with having your pets insured. Here are some of the benefits:

1. Having pet insurance protects you against unexpected costs related to your pets like vet bills.
2. It intensifies the choice of your pet’s medication.
3. One insurance covers the expenses of having more pets.
4. It saves you money when your pets become ill or injured.
5. Having pet insurance supports you to keep your pets in-checked against diseases, helping keep them healthy and safe.

Cons of pet insurance(disadvantages).

Below are mostly the two disadvantages of pet insurance.

1. Pet insurance is expensive.
2. You will pay a regular premium and this can rise up over time.

Questions to ask yourself before you choose any type of insurance policy for your pets. Ask:

• Why your pet has to be covered.
• The type of insurance policy you can afford. And then,
• The length the insurance might need to cover.

Conclusions

Pet insurance is a policy bought by a pet owner for the cost of his or her pet’s medical bills.

As one of your pets may need emergency medical treatment in their lifetime, pet insurance provides cover for veterinary fees when your pet becomes ill or gets injured. When you insure your pets you don’t have to find money all the time to pay vet bills as the cost of animal health care is rising, hence having pet insurance will save you costs you may not afford at the moment they get sick.

However, before you pay or purchase any pet insurance policy, seek professional advice from a veterinarian, consider the limitations including price, and remember to choose a lifetime policy or cover that meets your needs.

Having read and understood what pet insurance is, how it works, and the pros & cons, we hope you got value reading this informative article from our website.

Feel free to write your suggestions in the comment section below.

We purchase insurance for a lot of things like cars, houses, health, and lots but we need to cover the most important aspect of our life how we earn income when our income means stopped and lot. In this article we will e talking about disability insurance, what it is, how it works, its benefit of it, the types of disability insurance we have, and a lot more.

What Is Disability Insurance

This is the type of insurance that covers you from unexpected injury, illness, or anything that prevents you from earning and making an income that sorts your living. There is a private insurer, and sometimes government or your employer can insure you.

Disabilities here are not necessarily physical disabilities but any disabilities that prevent you from earning income to sort out your needs

Types of disability insurance

There are two main types of disability insurance policies which are Long-term disability insurance and Short-term disability insurance.

Long-Term Disability Insurance

This types of disability insurance have several waiting periods like several weeks and months but basically, financial protection does last for more than 2 years. While some other policy providers do cover till the entire retirement age.

Short-Term Disability Insurance

his type of disabilities insurance covers immediate financial support for policyholders ranging from 0 to 14 days to a maximum of 2 years

Riders are also available, in case you want to purchase long-term disability insurance there are some that can combine short-term disabilities with long-term disability insurance. Here when short-term expires then long-term disability insurance takes effect with the help of the rider. This will of course have a corresponding increase in premiums being paid.

Before we brief on how this disabilities insurance works let’s talk about what it covers.

What does disability insurance cover?

This type of insurance covers a lot of illnesses and injuries that some other types of insurance like workers’ compensation among others did not cover as long as these injuries and illnesses deprive you of earning income.

Disabilities insurance covers these medical conditions:

• Broken bones
• arthritis
• Hive Infection
• Fractures and dislocations
• spinal injuries
• cancer
• concussion
• diabetes
• multiple sclerosis
• Depression
• Muscle pain
• anxiety disorder

But at the same time, injuries encounter while committing a crime, and self-inflicted injuries and illness are not covered by disabilities insurance.

How does disability insurance work

Subsequently, on normal insurance, the policyholder will be protected against unforeseen loss where the insurer reimburses the policyholder in case of property loss, casualty and lot based on the type of insurance but in disabilities insurance, this type of compensation is related to the loss of income caused by disabilities.

If a workers earn a certain amount of money monthly and got disabled or got a certain disability that prevents them from working and earning their monthly income again then the insurance company will compensate the policyholder with a portion of the lost income after reviewing that they are qualified or the incident is covered by this policy. This means disabilities insurance covered the opportunity cost of the disabled policyholders

Though policyholders will not just get qualified for this type of insurance so as not to miss use it there are some conditions the policyholders must satisfy in other to receive payment.

If this insurance is government-sponsored disability insurance for you to qualify the policyholder must prove that their disabilities are truly severe and prevent them from working to curb workers pretending to have a severe injury while it’s minor.

Also, some private insurers always require applicants to demonstrate that their disabilities really prevent them from doing their previous work. Also, The Social Security System also require applicant to show that this disability prevents them from engaging in their work for at least 12 months or the expected result in death.

How to Get Disability Insurance

Some companies offer this type of insurance as part of their employee benefits and also pay for the premiums while some encourage you to buy it yourself to supplement the insurance they have for you.

Even if your company gives you disability insurance always check if you can keep the insurance while you are out of service and the cost.

Also you can personally buy disability insurance yourself with the help of an agent that will help you calculate the amount of insurance best for you to buy to cover your disability insurance.

Conclusion

Disabilities insurance is a very good insurance that covers policyholders that got an injury or illness that prevents them from earning their income but at the same type, there are exceptional illnesses caused while committing crimes or self-inflicted injuries. We have covered a lot about disabilities insurance also on how you can get it too. If you have any questions kindly leave them in the comment section below.