Tag: Insurance

Importance of Travel Insurance

Many people travel daily or occasionally to different destinations based on different purposes like business works, studying abroad, to enjoy vacations, to see their parents staying abroad, daily commuting to work etc.

People plans everything, that is where to go, what to pack, what to do once they reach the destination but sometimes even a carefully planned trips can be vulnerable or complicated by unforeseen events. Whether it may be due to loss of luggage, canceled flights, or medical emergency, an unexpected mishap can turn a relaxing vacation into a miserable experience. But if you opt a good travel insurance policy, you can save money, safeguard your journey and can make your journey or vacation a truly memorable one.

Travel insurance protects travelers from unexpected situations that occur after they’ve booked and paid for their trip to travel. It helps the travelers if they have to cancel their trip because of personal works or mistakes on the part of travel agencies and airlines. This insurance also safeguards travelers if sudden emergencies arise once they reach their destination.

Travel insurance covers many features and is up to you to choose and ensures you are adequately covered policies. The most common policy of travel insurance is Trip Cancellation/Interruption coverage. Many of these policies cover cancellations due to weather, sudden illness, death and emergencies whilst at home or abroad.

That’s why travel insurance is important and can help you by compensating you for the unforeseen emergencies while traveling. You can get the travel insurance from the travel guard. Travel guard from the travel agencies or companies is the specialist who provides or offers different policies for travelers. (more…)

Why Retail Shops Need Insurance

Many of the retail business owners assume that they do not need insurance policies for their retail business. If you too think like that, then you need to rethink again. Here are many benefits that you can get by opting the insurance policies for your retail stores. The retail business requires high amount of investment to run the business successfully. Here the owner needs to hold much amount of stock. There are many reasons why retail shops should opt for the insurance. They are

  1. To protect the building of the store from all natural disaster losses, such as, earthquake, wind storm, etc. The owner needs home or building insurance for his retail shops.
  2. To protect the stock and furniture of the store from fire accident losses, owner needs a property insurance to cover the property losses. This insurance will also be helpful in cases of theft too.
  3. Often sometimes the retail stores need auto insurance for their business vehicles, such as, small vans, goods transport trucks, etc. The retail shops need these vehicles to transport goods from the company to their shop. Therefore, it is necessary to carry the auto insurance for business vehicles.
  4. To protect the retail business from lawsuits that may arise from customers and suppliers. Retail shops sell many type of products, they do not know whether the product is good one or defective. Sometimes retail shops can face legal claims which are filed by the customers about the cause due to the defective product. For example: A customer may suffer from some loss due to the use of a product that is bought from your store, then the customer files a legal claim on your store. You are responsible for the cause and you need to pay the amount of loss for the customer. If you have product liability insurance, then the insurance firm pays the amount of loss and it secures your business.

Therefore, due to all the above said reasons a retail store should opt for insurance, to protect your business from risks.

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Differences Between Professional Liability Insurance and General Liability insurance

Generally, insurance’s main principle and responsibility is protecting a person or business from any kind of risk. That risk can be caused from any natural disaster or theft or damage of property. There is high chance of risk in business. You are responsible to protect the property, employees and people with whom your business is running properly.

These risks are covered by general insurance and your company is protected by this from possible adverse financial situations. Professional field related risks can be covered by professional liability insurance.

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