We understand that insurance can sometimes be confusing. That’s why we have created this section, where we answer some of the insurance questions we field most often. Feel free to browse through the list, or send your own questions along. Our team is always glad to help!
Business Insurance
What Is Business Insurance?
This type of coverage safeguards businesses against potentially devastating legal liabilities, such as negligence and damages, among others.
Another advantage of business insurance is that it provides the peace of mind business owners and professionals need to confidently move forward with all aspects of their business.
What Are Some Examples of Business Insurance Coverages?
- General Liability / Product Liability
- Workers Compensation Insurance
- Employment Practices Liability Insurance
- Commercial Auto
- Cargo
- Building and Business Property Insurance
- Loss of Income
- Cyber Liability
What Is Product Liability Insurance?
This insurance is designed to protect your business from the costs of any legal claims or settlements related to a product defect, malfunction, or other issue.
What Is Workers Compensation Insurance?
This insurance is typically mandated by state law, and it is designed to protect both employers and employees. It provides benefits such as medical treatment, wage replacement, and rehabilitation services to employees who are injured or become ill due to their job.
In exchange for this protection, employees give up their right to sue their employer for certain types of claims.
What Is Employment Practices Liability Insurance (EPLI)?
EPLI usually covers the costs of legal fees, settlements, and judgments for lawsuits filed against your business by employees or former employees.
Have any questions? Call us now! (951) 547-4240
Personal Insurance
What Is Personal Insurance?
The difference between business insurance and personal insurance is that while business insurance covers companies, personal insurance helps protect individuals.
What Are Some Examples of Personal Insurance?
- Life insurance
- Auto insurance
- Homeowners insurance
- Renters insurance
- Umbrella insurance
How Much Personal Insurance Do I Need?
If you want to learn more about how much insurance makes sense for you, contact our experts at Carter Bradley. We’ll be glad to help you build a policy that meets your needs.
What Is Life Insurance
Essentially, the policyholder pays a monthly or annual fee in exchange for the promise of an insurance provider to pay a sum of money in the event of their death. Life insurance is a crucial tool for financial planning that helps ensure stability and security for those left behind, allowing them to cover expenses such as debts, mortgages, college education costs and more.
How Many Types of Life Insurance Are There?
- Term life. This is the simplest form of life insurance. It pays only if death occurs within the term of the policy, which typically ranges from one to 30 years
- Whole life. In a traditional whole life policy, the death benefit and the premium are designed to stay the same throughout the life of the policy, even as the person ages.
- Universal life. Here traditional life insurance is bundled with a savings vehicle known as cash value. After the policy accumulates cash value, the policyholder has the option to reduce their premium payments.
- Variable life. Variable life policies combine the protection of life insurance with a savings account that can be invested in stocks or bonds.
