Ensure the Right Coverage: Provide the Right Information

Is Your Child’s ‘Stuff’ Covered in the Dorm?

Your child is leaving the nest. The car is packed to the hilt and pointed toward campus. Among your concerns about tuition, courses, and when you will see your child next, have you considered the contents of your car? Will your student’s belongings be insured in his or her dorm?

While the contents of a dorm room often include secondhand furniture and repurposed thrift store items, among these there will probably be a few pricey electronic devices, gadgets, and gear. Chances are you (and your departing student) have been too busy to consider the importance of insuring these possessions. Homeowners or renters insurance policies usually cover your student’s belongings in the dorm, but here are a few things you may not have thought of:

Check your policy. Confirm your student’s possessions are covered as part of your homeowners policy.
Check your limits. Policies sometimes limit dorm coverage to 10% of the total, meaning a policy providing $150,000 coverage for possessions at your residence may only provide dorm room coverage up to $15,000. That may seem like a lot, but consider the replacement cost.
Take inventory. Before it’s all crammed into the dorm room, make a detailed list, including values. Create a file including receipts for electronics and other high-end items in case you have to make a claim.
Consider options and alternatives. While your homeowners policy may cover your student’s laptop from theft, it won’t replace it if it’s shorted out by a spilled Frappuccino. For individual items, consider riders or special warranties that protect against such accidental damage. And, of course, items such as heirlooms and expensive jewelry are better left at home.

When your child leaves home for college, the experience can be wrenching, exciting, busy, and frustrating. Make sure it’s not a bad one by insuring your student’s personal possessions before you start packing the car.

Batteries- The Next Frontier for a Device Focused Society

No matter what device you depend on-a flashlight, a smartphone, or a computer-it likely won’t work without a battery. Yet the science behind batteries has been relatively underwhelming. Until now.

Much of the key development work on batteries dates back to the 1800s. And since then the lowly battery has powered our society in a relatively low-key way. Now, however, the battery needs to join the 21st century. And investors such as billionaire Warren Buffet are betting its time has come.
As Michael J. De La Merced noted in The New York Times, “By essentially agreeing to swap his firm’s holdings in P&G, worth about $4.7 billion, in exchange for Duracell, Mr. Buffett will gain one of the best-known battery companies in the world.” Plus market share.

While many claim Buffett’s purchase is a tax maneuver, others believe he sees big opportunities in today’s $50 billion global battery market. Batteries represent the new frontier. And Buffet is not alone in noticing.

Tesla, under CEO Elon Musk, recently launched the Powerwall home battery to revolutionize the way we use energy, envisioning a network of home batteries acting as power plants. The product, initially high-priced, will become more affordable and more desirable, Musk believes.

Meanwhile, Science Daily’s Battery News regularly highlights new developments in batteries, ranging from “squishies” made from wood pulp to an ultrafast aluminum battery. These days it seems a lot of important players are charged up over batteries. And they’re betting big.

How to Spice up Office or School Lunches

Packed lunches are often boring. So what’s a better way to spice up office or school lunches than, well, a little spice?
Caroline Craig and Sophie Missing, authors of The Little Book of Lunch, write in The Guardian: “Our palates have become accustomed to spicy and exotic additions, and we expect the deep, often complex flavor that spices provide whatever meal we’re eating.” And that’s especially true for drab, and sometimes rushed, lunchtime meals.

The authors’ suggestions include harissa, a Tunisian hot chili pepper paste that goes on everything from veggies to chicken dishes. (Refer to the Guardian post at Spicy lunch ideas or check online for recipes.) You can also add spicy oils to noodle soup, or rub leftover chicken with cumin and moisten with mayo for a yummy sandwich. Try marinating any meat with spices, roasting, and wrapping in a pita with lettuce and tomato.

But one word of caution: be sure to use thermoses or cold packs to keep your spicy lunches well chilled. Hummus and olives should be kept cold as well. Let’s face it: No one wants ptomaine poisoning-especially at lunch.

Ensure the Right Coverage: Provide the Right Information

Whether you’re a new home buyer or just reviewing your current policy, it’s important to get the right coverage.

Here’s how:

There’s a lot of important information about your home that you need to share with your agent, and knowing the answers beforehand makes the process easier for both of you. As a new buyer, you’ll be providing the information for the first time, while current policy holders will need to update the information through a regular policy review with your agent.

If you are a new buyer, your agent will need the purchase price, address, year built, and construction type, as well as the square footage and type of foundation. Don’t forget the dimensions of any garage, porches, decks, and basements. Your agent will also need to know if there are any “attractive nuisances” on the property (pools, trampolines, or playgrounds), and the proximity to fire hydrants and the fire department.

As well, you should include information on heat and electricity types, any additional heating, roof type, and plumbing details. Include information on home alarms and smoke and carbon monoxide detectors. If the home was built before 1990, note when the roof was last replaced and the heating updated. Finally, provide details of your previous policy and any previous claims.

If you’re reviewing your policy, consider whether any of the items above have changed. Have you built an addition, had your roof reshingled, added a pool, or changed your type of heating? It’s all important to your coverage. And to you.

Does Car Insurance Cover Other Drivers?

Extra Coverage Can Help ‘Float Your Boat’ This Summer

Many boat owners assume their boats are covered under homeowners insurance policies. Homeowners insurance typically offers up to $1,000 in coverage for boats, boat trailers, motors, and related equipment-perhaps sufficient for small craft owners. However, the following exclusions exist:

Losses in the water, including damage from sinking and collision, including hitting rocks or other debris.
Wind loss if your boat is left in the open. Keep boats in a locked building on your property.
Flood damage.
Theft losses if they occur off your property. Take extreme safety measures to avoid theft when the boat is off your property.

Owners of high-value, regularly used boats may want to consider extra coverage, such as:

Coverage for hazards like sinking and collision is available as “special perils coverage.” Annual premiums are about 2 percent of the value of the boat and its related equipment, with at least a $100 deductible required. Higher deductibles mean lower premiums-which is good only if the premium savings justify the higher out-of-pocket expenses if losses occur.

Also, special perils coverage can usually be bought as a “scheduled item” on homeowners insurance. If you don’t have homeowners insurance, and/or need to save some money temporarily while still having limited coverage, some insurers may allow you to add your boat to your auto insurance. This should be considered temporary; you have the same limitations in coverage as with homeowners insurance, and this solution won’t cover loss of personal property on the boat.

This Month’s Smile: DIY Jokes

Smiles We all love to laugh at – or with – the Do-it-Yourselfer in our homes. But there’s just a bit of admiration accompanying the laughter. Here are some great jokes about DIYers whose projects don’t always turn out right.

Last week I replaced every window in my house. Then I discovered I had a crack in my glasses.

I got a self-assembly wardrobe. It didn’t work. I got it out of the box, but it just didn’t do a thing.

I put six locks on my door. When I go out, I lock every other one. I thought that no matter how long somebody stands there picking locks, they’re also locking three of them.

And, especially for the DIY overachiever: My husband just built a set of shelves for our house and now he’s writing some books to put on them.

Make BBQ Season Sizzle with These Grilling Tips

Steak Grill masters, rejoice: Prime barbeque season is here! To make the most of your time behind the grill, consider the following hot tips:

It’s hard not to dive right into a steak fresh off the grill. But you and your guests will be rewarded for your patience. Tent steak (and other meats) with tinfoil and let rest for about 10 minutes. The meat’s juices will distribute evenly, ensuring maximum flavor and texture.
No thermometer? No problem. EatingWell.com has a hot trick for gauging the heat of a grill with your hand. Hover your open palm about thirteen centimeters (five in.) above the rack. If the fire is high, you’ll likely need to move your hand within two seconds. If it’s at medium, it will be about five seconds. If the heat’s low, you’ll probably want to move your hand at about ten seconds.
When should you use direct heat and when should you use indirect? Elizabeth Karmel, a grill pro and author of Taming the Flame, gave Better Homes and Garden (BHG) this tip: if the food item requires less than twenty minutes to cook, use direct heat. If it takes longer, use indirect heat.

No one likes a dry kebab. Jamie Purviance, author of Weber’s Way to Grill: The Step-by-Step Guide to Expert Grilling, told BHG to stack ingredients close together on the skewer to keep them juicier longer. But don’t cram them.

Of course, grilling isn’t only about the food; it’s also about the outdoor experience. In a recent National Post story, landscape designer and builder David Veron recommended installing backyard elements that lend themselves to an activity, such as an outdoor pizza oven and an outdoor fireplace. The best part? They aren’t just for summer. Brave enthusiasts can fire up the grill in the winter and hang out-bundled up, of course-by the outdoor fireplace while they cook.

Does My Car Insurance Cover Other Drivers?

Many people are concerned about lending their cars to friends. They should be. They could be liable. If someone drives your car, it’s important to know if you’re protected.

States’ laws and insurers’ rules vary; your agent can explain them as they apply to you. In the meantime here are some general rules of thumb concerning who’s covered by your policy when driving your car.

Permissive Use Drivers (PUD)

PUDs have permission to borrow your car occasionally. For example, if a friend borrows your car to run to the store, are you covered?

Yes, but note that in a PUD accident, you and the PUD could face lawsuits to cover remaining accident costs if your policy’s liability limits are exhausted and your PUD has no coverage of his own. If the PUD does have vehicle insurance, the not-at-fault party can make a claim on this policy. The primary coverage comes from the vehicle owners insurance. Secondary coverage comes from the PUD.

Household Members

Each state and insurer has different laws about household residents with drivers’ licenses who drive another household member’s vehicle.

Are your household members covered?

Maybe, depending on your state, insurer, and whether the household member is an excluded driver, nondriver, or driver on your policy.

If a household resident owns a vehicle and has his or her own insurance, he or she may be excluded from your policy; claims won’t be covered under your policy if this person has an accident while driving your vehicle.

If a household member classified as a nondriver has an accident driving your car, your claim would likely be covered. But nondrivers with licenses are rated on your policy as drivers, so if they have a bad driving record, this will impact your premiums.

If you don’t disclose household members, your insurer can deny claims and cancel your policy, and you could be sued and/or possibly charged with insurance fraud. When it comes to insurance, honesty is the way to the best policy.

The Truth on Employers Life Insurance

Employer Life Insurance
Doctor and Patient Many of us receive our life insurance through our employers, and it’s often cheaper that way. But there may be reasons to buy supplemental life insurance. Here are three:

It may not be sufficient

First, your employer may not offer enough life insurance to meet your needs. If your death would be a financial burden on your loved ones, experts often recommend you obtain coverage worth five to ten times your annual salary. And be sure you include supplemental income, such as bonuses and commissions, in your calculations of your annual salary; they count.

It may not be portable

Second, you could lose your coverage. When you change jobs, you typically lose your life insurance coverage; if you are going to a new job, it may offer coverage, but it may not be as good. This lack of portability is particularly problematic as we age, because as older workers we’re less likely to be able to qualify for an individual life insurance policy. And even if we are able to, it might be very expensive. As well, it’s always a possibility that your employer might stop offering life insurance to save money, leaving you without coverage.

Carrier ratings

Finally, with employer-sponsored life insurance, you don’t get to choose the provider. It’s possible that the insurance carrier your company has chosen is rated lower than you’d like, risking the possibility the insurance you paid for won’t be there when you need it. Your carrier’s A.M. Best rating will tell you whether it’s financially stable or not.

Be prepared

While it’s certainly wise to take advantage of the free or inexpensive life insurance offered by your employer, you may want to supplement it with insurance from other sources. Ensure you purchase when you’re younger and it’s less expensive, and buy sufficient supplemental insurance to ensure you’re covered in all eventualities, including job loss and declining health.

This Month’s Smile: DIY Jokes

Last week I replaced every window in my house. Then I discovered I had a crack in my glasses.

I got a self-assembly wardrobe. It didn’t work. I got it out of the box, but it just didn’t do a thing.

I put six locks on my door. When I go out, I lock every other one. I thought that no matter how long somebody stands there picking locks, they’re also locking three of them.

And, especially for the DIY overachiever: My husband just built a set of shelves for our house and now he’s writing some books to put on them.

Make BBQ Season Sizzle with These Grilling Tips

Steak Grill masters, rejoice: Prime barbeque season is here! To make the most of your time behind the grill, consider the following hot tips:

It’s hard not to dive right into a steak fresh off the grill. But you and your guests will be rewarded for your patience. Tent steak (and other meats) with tinfoil and let rest for about 10 minutes. The meat’s juices will distribute evenly, ensuring maximum flavor and texture.
No thermometer? No problem. EatingWell.com has a hot trick for gauging the heat of a grill with your hand. Hover your open palm about thirteen centimeters (five in.) above the rack. If the fire is high, you’ll likely need to move your hand within two seconds. If it’s at medium, it will be about five seconds. If the heat’s low, you’ll probably want to move your hand at about ten seconds.
When should you use direct heat and when should you use indirect? Elizabeth Karmel, a grill pro and author of Taming the Flame, gave Better Homes and Garden (BHG) this tip: if the food item requires less than twenty minutes to cook, use direct heat. If it takes longer, use indirect heat.

Cost Management Tips for HDHP Policyholders
High-deductible healthcare plans (HDHPs) are great options for those seeking lower premiums. And, as many employers are now passing on more employee benefit costs to their employees, more individuals may find themselves with HDHPs. It’s estimated that in 2015, four of five large employers will offer HDHPs as an option, and one in three will offer HDHPs only.
While HDHPs are on the rise, so are HDHP deductibles. In 2014, the average deductible was $1,217 for a single employee with group insurance, almost twice what it was in 2006. And the increases extend to HDHPs offered through health insurance exchanges, as well as employer plans.

HDHPs are good options for many individuals and families. However, HDHP policyholders should understand that higher out-of-pocket costs mean that they must be very conscious of managing their healthcare costs.

For HDHP policyholders-especially those with extremely high deductibles-there are several ways to keep healthcare costs down without putting their health at risk. For example:

Practice preventive care: First, make full use of policy-covered preventive services even if deductibles haven’t been met. Second, improve your overall health and that of family members to avoid future health problems.

Track healthcare expenses: Keep receipts and records so you’ll know when you’re close to meeting deductibles.

Get price estimates for services you may need down the line, so you can plan ahead for possible healthcare expenses-which you may have to pay yourself if your deductible hasn’t been met.

Enroll in a Healthcare Savings Account (HSA), funded by an individual, an employer, or another individual, or in a Health Reimbursement Arrangement or Account (HRA), funded through an employer.

As always, read your policy very carefully. HDHPs can be good options, but they can also be confusing. Ask your insurance agent or your employer if you have any questions.

Commercial Auto Insurance Can Save Your Company

Commercial Auto Insurance Can Save Your Company
Business People In Car If you or your employees drive vehicles for business, using standard auto insurance instead of commercial auto insurance can put your business at risk. Here are some benefits of commercial auto insurance:

Liability: Businesses run higher risks of being sued when commercial vehicles cause accidents leaving other parties injured. You should carry the highest liability limit you can handle. Available commercial liability limits are higher than standard auto insurance-ranging from around $100,000 to millions of dollars. Most commercial policies also offer single liability limit amounts.

Any auto liability: This extends your current commercial auto insurance liability coverage to any recently purchased, nonowned, or hired commercial vehicles.

Rental reimbursement and downtime: For businesses with incomes that depend on commercial vehicles, rental reimbursement helps pay for rental vehicles, makes vehicle payments, and covers other expenses and bills if you are unable to operate your commercial vehicle after an accident.

Individual named insured coverage: This extends coverage from commercial auto insurance to vehicles you drive for both business and personal uses.

Nonowned vehicle coverage: This protects you and your employees when driving any nonowned commercial vehicles for business purposes.

Single deductible choices: If your business vehicle uses specialty equipment or trailers, you can cover them as well as the vehicle. In the event of a single loss of multiple items, you’d only pay one deductible rather than a separate deductible for each item.

HOT BIZ TRENDS
Communicate Effectively With Words: They’re Back in Style

Words We’ve always thought our words were so much less important than our body language in communicating with others. That’s thanks to a 1967 study that concluded that only 7 percent of what a listener picks up comes from words.

Thirty-eight percent comes from our tone and a whopping 55 percent from body language.

Now, some are spotting flaws in this paradigm. A host of recent researchers are studying, scanning, and sorting our brains in an effort to establish how we communicate, and how we sell ourselves.

Many of the researchers still search beyond words. But to some, words tell it like it is.

In a recent blog, self-help maven Tony Robbins noted: “The words you habitually choose also affect what you experience …you can take control of your habitual vocabulary to change the quality of your life…how you think, feel, and how you live.”

Wealth Savant, which provides financial and wealth content online, published an article titled “Choose Your Words and Control Your Destiny.” To sum it up: Don’t use the wrong words, because negative words create a negative response.

And vice-versa. So avoid words like “however” and “unfortunately,” because no matter what follows, the listener receives a negative message. Even worse, neuroscientists now tell us, negative words have a harmful effect on the speaker’s brain.

Copyblogger author Gregory Ciotti lists the five most persuasive words in the English language: “you,” “because,” “free,” “instantly,” and “new.”

“You” can use these “free”ly “because” “new” listeners “instantly” like them-creating “positivity.”

MARKETING
Online Networking Trumps the Old Meet-and-Greet Approach

Roledex There was a time when business networking was all about rubber-chicken luncheons and meet-and-greet cocktail hours. But that was then; this is now. Today it’s easy to expand your professional network effectively and efficiently online.

With options ranging from LinkedIn and Forbes Forum to Facebook, Instagram, Twitter, and others too numerous to mention, you can choose to reach out to prospects, customers, potential employers/employees, channel partners, and other target audiences.

Are you looking to target potential and existing clients? Join online groups and discussion forums where your target customers are conversing. You can find these areas by entering keywords into the search section on social sites as well as in group and discussion areas. Engage actively by posting information, resources, tips, and offers, and by highlighting issues and trends.

Are you looking to establish relationships with innovators and influencers in your industry? Or to engage with media, thought leaders, and decision makers who are established online and have rich connections of their own? Maintain a blog and stay active in industry groups and discussion areas on social sites. Use the Comments sections of articles by those people you want to influence, and contribute to the debates. Don’t hesitate to reach out to people you don’t know and invite them to connect with you.

With any social media platform, you need to be creative and provide value to your target audience. Grow your network and build credibility as an industry leader by launching a Facebook fan page. With a fan page, you can send bulk messages to all your fans, post and send regular updates, and encourage them to tell their friends about you…so their fans become your fans.

INSURANCE
Commercial Insurance Definitions

Regardless of business type, size, or location, small businesses need insurance. In addition to insuring business assets, small-business owners are also protecting their personal assets and their reputation. As well, many states require small businesses to carry certain coverage, and for some businesses (such as building contractors), even customers may want proof of insurance coverage.

If you’ve previously passed on coverage because of the price, think again. You’re risking bigger costs if your business is found liable for a large loss.

Your agent can help you navigate the various coverage options available. But your first step is to decide what you want covered, what you need protection against, what losses and risks your customers face, and what risks or losses your employees face.

Small business insurance consists of three main components: liability insurance; coverage for property and buildings; and coverage for business equipment and other contents. The following are some types of available coverage:

Employer’s liability insurance:

Legally, businesses with more than one employee must carry this coverage. It provides protection for costs incurred (including damages and legal fees) if an employee becomes injured or ill as a result of his or her job.

Public liability insurance:

If your business regularly comes into contact with the public, this provides protection in the event that they or their property are injured or harmed in some way. This is essential if customers visit your business premises.

Professional indemnity insurance:

Mistakes causing financial harm to a customer or client can happen in a number of professions. Also known as errors and omissions (E&O) insurance, this covers claims or legal costs incurred if this transpires.

Key man insurance:

If an employee vital to your company’s success dies or is seriously injured and unable to work, key man insurance helps cover what the loss of this individual would cost your business. A coverage amount is decided before a policy is purchased by determining potential losses stemming from that employee’s absence (say your top salesman is injured). This may be hard to quantify, and the amount you’ve settled on may be insufficient, but at least there’s something there to compensate for the loss.

Business interruption insurance:

If a disaster causes you to shut your doors for an extended period of time, the losses could sink your business. This policy will allow you to return to original operation levels.

Commercial vehicle insurance:

If you or your employees drive company vehicles, this is required by law. The right coverage depends on the vehicles, and how often and how they’re used.

Insurance for property and buildings:

Business property damages and losses due to fire, lightning, riot, explosions, malicious damage, storms or floods, or vehicle damage is covered by most commercial policies.

Business contents insurance:

As seen, your property and building coverage for physical locations provides protection for buildings themselves-not their contents. This covers content losses inside your building and includes anything that would fall out if you turned it upside down.

Does Car Insurance Cover Other Drivers?

Extra Coverage Can Help ‘Float Your Boat’ This Summer
Woman In Car Many boat owners assume their boats are covered under homeowners insurance policies. Homeowners insurance typically offers up to $1,000 in coverage for boats, boat trailers, motors, and related equipment-perhaps sufficient for small craft owners. However, the following exclusions exist:

Losses in the water, including damage from sinking and collision, including hitting rocks or other debris.
Wind loss if your boat is left in the open. Keep boats in a locked building on your property.
Flood damage.
Theft losses if they occur off your property. Take extreme safety measures to avoid theft when the boat is off your property.

Owners of high-value, regularly used boats may want to consider extra coverage, such as:

Coverage for hazards like sinking and collision is available as “special perils coverage.” Annual premiums are about 2 percent of the value of the boat and its related equipment, with at least a $100 deductible required. Higher deductibles mean lower premiums-which is good only if the premium savings justify the higher out-of-pocket expenses if losses occur.

Does My Car Insurance Cover Other Drivers?
Many people are concerned about lending their cars to friends. They should be. They could be liable. If someone drives your car, it’s important to know if you’re protected.
States’ laws and insurers’ rules vary; your agent can explain them as they apply to you. In the meantime here are some general rules of thumb concerning who’s covered by your policy when driving your car.

Permissive Use Drivers (PUD)

PUDs have permission to borrow your car occasionally. For example, if a friend borrows your car to run to the store, are you covered?

Household Members

Each state and insurer has different laws about household residents with drivers’ licenses who drive another household member’s vehicle.

Are your household members covered?

Maybe, depending on your state, insurer, and whether the household member is an excluded driver, nondriver, or driver on your policy.

What is Key Person Insurance?

Key Person Insurance Could Save Your Business
Even in this era of teamwork, it’s only realistic to acknowledge that some people contribute more to a business’s success than others. If one of your employees were to leave your company, are you worried it might not recover from the loss? If so, this employee is considered a “key person,” and there is insurance to deal with his or her loss should it occur.

Who is a key employee?

These policies are usually intended for business owners, but they might also be appropriate for top salespeople or anyone else deemed “key” to the business’s success.

How does this policy work?

In key employee insurance, the company pays premiums for an employee because it would experience a severe setback if something happened to that individual. The benefits would help the company weather the tough times resulting from the employee’s loss until it could find its footing again.

Depending on the type of policy purchased, key person insurance may be considered an employee benefit. It would build cash value during an employee’s time at the company, and the company might agree to give a percentage of that cash value to the employee on retirement-which gives the employee an excellent reason to stay.

In this is a policy the details really matter. You’ll need to decide who you can and can’t do without and what type of policy is best for your business. Your insurance agent will tell you more about how key employee insurance works and advise you on which policy makes sense for you.

INNOVATION
Is Creativity for the Few or Can We All Learn to Innovate?

In business, creativity equals success. Those who can think outside the box may become superachievers. But, according to the latest business theorists, creativity is not the purview of a few; it can be learned.

In the Wharton School of Business’s online business management series, marketing professor Rom Y. Schrift writes, “I think there are individual differences in our propensity to be creative but having said that, it’s like a muscle. If you train yourself…you can become more creative. There are individual differences in people, but I would argue that it is also something that can be developed, and therefore, taught.”

Malcolm Gladwell, author of Outliers: The Story of Success, concluded through the examination of high achievers’ lives that 10,000 hours of practicing a particular task builds new creative skills that lead to significant innovations. However, Gladwell subsequently clarified his position in a reddit “Ask Me Anything” interview: “Practice isn’t a SUFFICIENT [sic] condition for success. I could play chess for 100 years and I’ll never be a grandmaster. The point is simply that natural ability requires a huge investment of time in order to be made manifest.”

As Cody C. Delistraty says in an article in The Atlantic, “Prevailing theories on creativity focus on methodology, or amount of practice. But new studies suggest artistic talent may be more hardwired than we thought.”

In other words, some people are just born creative. But, as Schrift might say, that doesn’t mean you can’t work hard to develop creativity.

HOT BIZ TRENDS
Creating a Sense of Belonging at Work?

A sense of belonging is a critical mental health concept. When it’s missing, individuals feel lonely and detached.

As Karyn Hall, Ph.D., director of the Dialectical Behavior Therapy Center in Texas, wrote in Psychology Today, “A sense of belonging to a greater community improves your motivation, health and happiness. When you see your connection to others, you know that all people struggle and have difficult times. You are not alone. There is comfort in that knowledge.”

But how do organizations build that sense of belonging that appears so very important to employees and their employers?

When employees have friends at work, it enhances their sense of belonging. That’s why so many companies encourage opportunities for informal at-work contact.

These companies make a special effort to bridge the chasm between “we” and “they” by forging teams among different silos. In a Herd Wisdom post, organizational consultant Meisha Rouser suggests, “When employees are able to span functional boundaries to connect to each other it builds a sense of unity and partnerships.”

Shared vision and ownership is another way to build a sense of connection. Smart company leaders invest time in communicating their vision and sharing their goals.

What’s more, fostering two-way communication by inviting input and acting on it shows employees they are valued and respected-keys to a feeling of belonging.

Savvy employers also encourage their employees to have a life outside work, offering family-friendly work options, encouraging volunteerism, and even paying for fitness memberships. Why? Simple. Happy employees are good employees.

INSURANCE
Protect Your E-Business with Special Insurance

The Internet has made many things possible, and one of these is running a business from the comfort of your home. For many, the dream of becoming one’s own boss is now a reality, but that doesn’t mean you don’t need comprehensive commercial insurance. While some of your insurance needs are the same as those of a regular storefront, you also face different risks that standard insurance policies might not address.

The majority of businesses today obtain insurance coverage through a Business Owner’s Policy (BOP), which lumps several different types of policies into one plan. Luckily, this can be tailored to meet your needs; but exactly what kind of insurance does an e-commerce business need?

First, you’ll still need to invest in standard policies such as:

Property insurance: Just because you aren’t operating a physical business doesn’t mean you don’t need property protection. What if your headquarters/home were to catch on fire? This type of insurance would help pay for repairs, but it can also help cover computer issues and data loss.

Liability insurance: If someone tries to sue you, whether it’s from data loss or libel, liability insurance will help pay for defense costs as well as for settlements against you. It’s extremely important to set the appropriate limits for this coverage, as lawsuits can sometimes climb into the millions of dollars.

Workers compensation: If you have one or more employees, it’s likely required by your state that you offer them workers compensation. If someone is injured while at work, this benefit pays his or her medical expenses and protects you from being sued. Make sure you check with your state board to ensure your policy meets the law’s standards.

Then there are other less common forms of insurance you should consider, including:

Intellectual property insurance: A form of liability insurance, this coverage protects you in case you’re sued for copyright infringement. Even if you’re certain your idea or trademark is 100 percent original, many claimants simply take businesses to court because they know those companies don’t have the money to pay for a court case.

Transportation insurance: Many e-commerce businesses are retail based and rely on second-party shipping and handling to transport goods. Although many shipping facilities have insurance policies of their own, you need to be sure your goods are covered. This policy helps you recover from losses resulting from a failed shipment.

Business interruption insurance: While it’s true the Internet never sleeps, there’s always a chance that a glitch could knock you offline for days, whether it’s a natural disaster or a third-party problem. If it’s a long enough interruption, you could suffer profit losses. This type of policy can help you recover once you’re back online.

It’s important to connect with your insurance agent when searching for e-commerce insurance products. Data and Internet security is a top priority, and malware isn’t the only threat lurking around the Internet. Like the Internet, insurance has no physical presence, but when you need it, it’s there.

Why You Need Title Insurance

Inherited a Home? Make Insurance Job Number One
During times of grief, insurance and taxes are the farthest things from your mind, but they must be dealt with at some point. If you’ve recently inherited a home from a loved one, there are some important details that you may not have considered.

Think insurance first

One of the first things you’ll need to do is contact your insurance company. Just because the occupant of the house expired doesn’t mean the policy has as well. Ask the insurance company to add your name as the primary insured person, and check to see how long the policy will remain active. This will ensure that any claims filed during this period will be covered.

If you choose to keep the inherited property, it’s a wise move to review the insurance policy before automatically opting for the same coverage. Depending on the area, a home could have appreciated greatly over the years, and the coverage amount needs to reflect current value.

If you rent it

If you choose to rent out the property, speak to your insurance agent about additional coverage specifically tailored to rental properties. You’ll likely need to increase your liability coverage and revise the personal property section of your policy.

Although your insurance policy regards a home as a structure, your insurance agent doesn’t; he or she understands the stress and can help you through the tough decisions so your inheritance will pay off, either as an option to live in or as a source of rental income or cash from its sale.

Our Unique Germs Travel With Us
Cold Have germs, will travel? Research indicates our germs are as individual as we are. And where we go, they go.

According to the recent Home Microbiome Project study, we leave a bacterial fingerprint that is unique to us as we move around. The study followed seven healthy families in their homes, tracking how and where their bacteria moved and how it affected the “microbiome” (all micro-organisms living on and in family members).

For six weeks, members of the seven households swabbed their hands, feet, and noses-and those of their pets-plus doorknobs, floors, and countertops. Analyzing the samples, the team was able to identify unique bacteria by its DNA.

When we settle, our bacteria settles too. According to Jack Gilbert, the study’s lead researcher, our individual microbiomes takes over a new space within 72 hours.

So don’t worry about hotel room germs. “Within two to three hours you’ve eradicated the previous (guest’s) microbiome,” Gilbert told CBC News.

And replaced it with your own.

Slow Your Perception of Time and Take Control of Aging

Time “Growing old is mandatory. Growing up is optional.” As author Carroll Bryant suggests, this is one very clear way to age gently. That childlike enthusiasm for life will go a long way toward slowing the passage of time.

As boomers march headlong into old age, there will be radical changes. In effect, boomers will rock the whole concept of aging, beginning with conquering time.

Can we really conquer time? Maybe not just yet. But we can change our perception of time to slow it down. Here’s how:

Habituation, as discussed by Starre Vartan on Mother Nature Network, is one reason why time seems to speed up with age. To many, it symbolizes getting older. As we do the same thing repeatedly over a period of time-the same breakfast, the same way to work-we start to live our days on what Vartan calls autopilot: “(We) cease noticing many of the small things that make one day different from another. This makes time seem to pass much more quickly, since fewer unique moments are being recorded by your brain.”

By comparison, children who are learning and growing have vast numbers of unique moments; time, for them, is a slow crawl.

How do we replicate a child’s approach to time? Live in the moment, suggests Vartan. Do what you love and savor the unique moments. And shake up your routine.

Or as Bryant suggests, don’t grow up. It may not just slow time, it may make life more worth living.

Title Insurance May Prevent Delays at Closing

Buying a home is an exciting event. The search is over, the paperwork is almost done, and you’re on your way to owning a home!

For many home buyers, the process is painless; but for some, plans are delayed due to title issues.

A title professional is responsible for searching public records to ensure that your home is free of liens before you close on it, but sometimes things slip through the cracks. This is why it’s important to have title insurance.

What is title insurance?

If for some reason someone disputes your title claim, title insurance will help provide financial and legal assistance as you get the matter sorted out. There are two types of title insurance (Owner’s Policy and Loan Policy) but as a home buyers you should focus on obtaining an Owner’s Policy during the closing period of your home. It can be purchased for a one-time fee, although prices vary depending on state and region.

Why do I need title insurance?

There are some people in the real estate market who try to take advantage of eager home buyers. Public records can be forged and titles tampered with; as a result of the growth in online real estate sales, fraudsters can easily find targets.

On the other hand, title issues can come out of the blue and from a completely nonthreatening place. Perhaps the original owner filed multiple wills which conflict, or a previously missing heir claims entitlement.

You may think title issues only arise with older homes, but that’s not the case. Even a new house could have problems if the land it’s on has title issues.

Title insurance is considered a good investment for most buyers, as it provides protection for as long as you or your beneficiaries own the home.

Buyers can have peace of mind with title insurance. Talk to your insurance agent for advice.

Do You Need Life Insurance?

How Much Do You Know About Life Insurance?
Of the 35 million American households without life insurance, 11 million include children under age 18, according to LIMRA, an insurance industry research organization.

That’s strange, because providing for one’s children after one’s death is considered a classic use of life insurance. It’s a situation that may be the result of misunderstanding how life insurance works. Think you know a lot about life insurance? Try our quiz to see if you’re right.

1. What is life insurance used for?

(a) Providing for a loved one financially after your death.
(b) Estate planning.
(c) Both of the above.

2. What percentage of consumers say most people need life insurance?

(a) 95%
(b) 85%
(c) 62%

3. What percentage of consumers say they have life insurance?

(a) 84%
(b) 62%
(c) 51%

4. What percentage of Americans who have life insurance don’t think they have enough?

(a) 90%
(b) 50%
(c) 40%

5. Which is not a type of life insurance?

(a) Term life
(b) Whole life
(c) Partial life

The percentage of American households with individual life insurance has hit a 50-year low, thanks in part to high unemployment and confusion over products. But life insurance is an important part of your overall financial plan and shouldn’t be overlooked. Your insurance agent can help you determine if you need a policy, and if so, which type of coverage and how much you need for your individual circumstances and goals.

(Answers: 1c, 2b, 3b, 4c, 5c.)

How to Change Those Red Lights to Green

Lights Ever wish you could cut your bike commute? Hey…that would be magic. But who needs magic? Veloloop, the latest in bike gadgetry, may do just that.

Invented by an avid cyclist who was sick of getting stuck in traffic, Veloloop is a metal ring that attaches to your bike and claims to turn red lights green.

Today’s roads have electronic sensor systems buried under the surface to keep cars from waiting too long at red lights. These sensors detect the presence of iron (in steel) in vehicles and maintain traffic flow by keeping cars moving. But bikes? Not so much, as they don’t contain sufficient metal.

According to an article in The Atlantic’s Citylab.com, Veloloop uses a patented circuit, detects when you reach an intersection, triggers the sensor…and, best of all, let’s you know it’s done.

Is it the answer? At press time, the cyclist/inventor was still seeking funding. But ask any frustrated cyclist whether the idea of turning red lights green is a good one; chances are the answer will be a resounding yes. It bodes well for Veloloop.

March’s Smile: Laughter in the Headlines
We all know headlines can invite you into an article or put you off reading it. But double up with laughter? More often than you might think. Take these examples…Please!

“Bugs flying around with wings are flying bugs”

“Threat disrupts plans to meet about threats”

“Bridges help people cross rivers”

“Bill would make it illegal to break rules”

Then there are the “ironics,” like:

“Missippi’s (sic) literacy program shows improvement,” and “Dam road sign keeps disappearing”

And last, but certainly not least, there’s this effort: “Total lunar eclipse will be broadcast live on Northwoods Public Radio”…Huh?

Are You One of 4 Million Facing Health Tax Penalties?
Most Americans had until March 31, 2014, to begin the enrollment process in health coverage under the Affordable Care Act of 2012. To help ensure consumers would take the need to purchase health care seriously, the Act set out tax penalties.

Tax preparer H&R Block estimates the majority who remain uninsured after the deadline will qualify for penalty waivers. However, you may be one of the four million uninsured the company believes won’t qualify for a waiver and will face a tax penalty this year.

Penalties

What is the penalty for going without insurance? Penalties start small but increase each year. The penalty for tax year 2014 is 1% of adjusted gross income (AGI) or $95 per adult and $47.50 per uninsured child, whichever is higher. In 2015, the penalty increases to $325 per adult or 1% of AGI and $162.50 per child. And in 2016 it will rise to 2.5% of AGI or $695 per adult, with an additional $347.50 per child. High wage earners face additional tax implications.

Waivers

Exceptions to penalties may apply if you missed the open enrollment deadline. Triggering events such as a job loss or a divorce may allow you to enroll after the open enrollment period. In addition, if you qualify for Medicaid in your state, you can enroll at any time.

To avoid tax penalties, and to have peace of mind concerning your health, talk to your insurance agent. Healthcare coverage may prove to be more affordable than you think.

Who Needs Workers’ Compensation Insurance?

‘Do I Need Workers Compensation’ And Other FAQs

If you’re considering starting a business, it’s important to have a comprehensive insurance package to protect your investment. Workers’ compensation is a type of insurance that provides protection not only for employees, but for the employer as well. Here are some frequently asked questions (FAQs) about workers’ compensation:

Do I have to purchase workers’ compensation? It depends on where your business is located. Many states require you to purchase workers’ compensation insurance if you have one or more employees; state laws also determine benefit amounts, provider options, and claim limits.

How does workers’ compensation protect employees? If an employee is injured while working, workers’ compensation helps handle the resulting medical bills and pays for lost wages. If an employee is killed on the job, workers’ compensation will provide benefits to dependents.

How does workers’ compensation protect employers? When employees use the workers’ compensation benefit, they automatically relinquish their right to sue you.

What if I have multiple businesses in different states? You’ll likely have to consult each state’s requirements to ensure that your policy is meeting standards all around. Your commercial insurance agent can help ensure your employees are covered no matter where they’re working.

How can I avoid workers’ compensation fraud? Questionable claims are on the rise. Protect yourself by hiring good employees and using background checks. At work, create a safety program, and ensure you communicate workplace best practices and benefits.

ENTREPRENEURS
How Do You Want to Structure Your Business?

Building_blocks Most small business owners start off as sole proprietors because it’s a simple structure. Establishing a sole proprietorship only requires a basic business license. While this is an attractive arrangement for someone seeking a quick start-up, it also has disadvantages.

The sole proprietor-the founding individual-owns the business, but has no one with whom to share liability.

One could do that in a partnership, which includes multiple owners who act as “agents.” But in terms of liability, a partnership may still leave business owners exposed-unless partners opt for a limited partnership, defined in Investopedia as: “Two or more partners united to conduct a business jointly, and in which one or more of the partners is liable only to the extent of the amount of money that partner has invested.”

Many entrepreneurs who begin as sole proprietors may scale up to a corporation. A corporation offers business founders the greatest number of safeguards against personal liability-and unlike its counterparts, makes it easier to continue doing business despite a change in leadership.

Though it exists separately from its owners, a corporation’s financial breakdown is far more complicated than other business structures. Entrepreneur James Timothy White writes in LinkedIn that the corporation’s structure, “while limiting the owners from personal liability…creates a ‘double taxation’ on earnings (corporate tax and personal tax).”

Whatever structure you, as the founder or cofounder of a business, select, it must dovetail with your goals and objectives and personal philosophy, as well as your financial situation. If you have partners, it should fit them as well. Launching a business is not for wimps, and the structure must support all of you in bad times and in good.

HOT BIZ TRENDS
Is an MBA Worth it? Maybe It’s About Skills You Already Have

Mortarboard The numbers of master of business administration (MBA) degrees granted annually has been increasing by 15% a year since the ’90s. That’s a lot of MBAs. But is that good for the economy and the grads themselves? The debate has been raging for years, and there doesn’t seem to be consensus.

Recruiters claim an MBA from a top business school is a huge advantage, and the $100,000+ is money well spent. The grad will be hired at a higher rate and recoup his or her investment quickly.

Natalie Kitroeff and Jonathan Rodkin disagree. In Bloomberg Businessweek they write: “Elite business schools are so expensive that it tends to takes their graduates longer, on average, to profit from their degrees than do those who choose less-selective, more affordable programs.”

On the other hand, Dale Stephens, writing in The Wall Street Journal, notes that, “If you aren’t accepted to Harvard, the argument against going to business school becomes even stronger…the return on going to lesser schools is very questionable.”

While some companies actively recruit for MBAs, The New York Times quotes Henry Mintzberg, a management professor at Montreal’s McGill University, as saying: “MBA programs train the wrong people in the wrong ways with the wrong consequences.” He adds, “You can’t create a manager in a classroom.”

In the final analysis, it may be Dale Stephens who makes the key point: “What matters exponentially more than that MBA is the set of skills and accomplishments that got you into business school in the first place.”

INSURANCE
How to Protect Against Intellectual Property Issues

Your building is protected from certain risks by property insurance; your employees, by workers’ compensation; and your vehicles, with commercial auto insurance. But what about risks associated with your business’s intellectual property (IP)?

Most business owners know protecting IP is crucial; one of the best ways to do so is with IP insurance. But how exactly does it work?

What is intellectual property? There are four types of IP (with definitions courtesy of Investopedia):

Trademark: “A symbol, word, phrase, logo, or combination of these that legally distinguishes one company’s product from any others. Any infringement on a trademark is illegal and therefore grounds for the company owning the trademark to sue the infringing party.”
Copyright: “The ownership of intellectual property by the item’s creator. Copyright law gives creators of original ideas, art, etc. the exclusive right to further develop them for a given amount of time, at which point the copyrighted item becomes public domain.”
Patent: “A government license that gives the holder exclusive rights to a process, design or new invention for a designated period of time.”
Trade secret: “Any practice or process of a company that is generally not known outside of the company.”

What does IP insurance cover? There are two types of coverage to help in the event of alleged IP infringement. One pays the costs of your legal defense if someone claims you stole their IP; the other, the cost of suing someone you believe has infringed upon or stolen your IP.

For businesses centered on ideas or inventions, IP insurance to protect them is essential. Typically, commercial general liability policies exclude IP coverage. Sometimes available as a policy provision, and commonly paired with Errors and Omissions (E&O) policies, there are also stand-alone IP insurance policies.

Who needs it? Any company whose core business is the development of new products should have IP coverage.

For larger businesses, IP insurance is essential because of turnover. Patents can easily expire without anyone noticing, typically after 20 years. IP protection through constant and proper IP designations (think © and ) is a good preventive measure, but IP insurance functions like liability protection.

All companies should consider IP insurance to protect against claims, especially small businesses, since they are more vulnerable to the costs of legal defense expenses or judgments, where damages can run from $650,000 to $5 million.

Finally, all businesses face employee IP theft risks.

Do you need IP insurance if you’ve correctly registered IP and know your idea is original? If accused, you’ll need to prove ownership of your IP, and IP insurance can help fund the expenses to do that without unneeded and unjust financial strain.

How do I obtain coverage? You must know you haven’t infringed upon anyone else’s IP and be able to prove you’ve conducted an IP search and filed patents, copyrights, or trademarks. You also can’t have any claims or lawsuits filed against or by you.

Contact your commercial insurance advisor to help you navigate the issues around IP.

Smart Homes= Lower Insurance Rates

Smart Homes May Lead to Reduced Premiums

When the auto industry introduced smart cars, the insurance industry had to figure out how to insure them.

Luckily, engineers intended smart cars to be safe cars. Recently, the 2014 Smart Fortwo and the Scion iQ received “Good” scores in three out of four crashworthiness tests conducted by the Insurance Institute for Highway Safety (IIHS).

This certainly makes drivers and insurance agents happy, but smart technology isn’t limited to the roads. One of the next innovations many people want to take advantage of is smart homes.

According to a survey recently conducted by Harris Poll for Lowe’s, most Americans crave the ability to control things in their home by accessing their phone. Sixty-two percent of those polled felt that a smart home was crucial for “monitoring safety and security.”

Cranky morning jokes aside (e.g., How does turning on your coffeepot from the comfort of your bed make you safer?), some smart home features are designed for convenience and others for energy efficiency.

Is the ability to remotely adjust the coffeepot or the thermostat likely to impact your insurance? Probably not.

However, some smart home features will. In fact, your insurance rates may drop significantly if, for example, your home comes equipped with moisture sensors located near sinks and toilets (think flood avoidance).

Or, what if your built-in security system is able to notify you via a phone app as soon as something goes wrong at home, such as a break-in?

Other apps allow you to lock your door from afar. And Nest-a company heavily involved in designing smart technology-has just released an advanced fire alarm that alerts you at the first sign of smoke and senses carbon monoxide.

If you’re considering purchasing a smart home or making smart upgrades to your current home, don’t forget to notify your insurance agent. It saves to be smart.

How to Change Those Red Lights to Green

Lights Ever wish you could cut your bike commute? Hey…that would be magic. But who needs magic? Veloloop, the latest in bike gadgetry, may do just that.

Invented by an avid cyclist who was sick of getting stuck in traffic, Veloloop is a metal ring that attaches to your bike and claims to turn red lights green.

March’s Smile: Laughter in the Headlines

We all know headlines can invite you into an article or put you off reading it. But double up with laughter? More often than you might think. Take these examples…Please!

“Bugs flying around with wings are flying bugs”

“Threat disrupts plans to meet about threats”

“Bridges help people cross rivers”

“Bill would make it illegal to break rules”

Then there are the “ironics,” like:

“Missippi’s (sic) literacy program shows improvement,” and “Dam road sign keeps disappearing”

And last, but certainly not least, there’s this effort: “Total lunar eclipse will be broadcast live on Northwoods Public Radio”…Huh?

4 Myths About Rental Insurance And Why They’re Wrong

When buying a home, you must buy homeowners insurance to satisfy mortgage lenders. But when you’re renting, it’s different. Many landlords don’t require renters insurance, so many renters just go without. According to the Insurance Information Institute, “only 35% (of renters) have insurance.” Why? Well, it might have something to do with these four myths:

Myth #1: “My landlord’s insurance will cover damages”: A landlord’s insurance policy will provide coverage for any damages that occur to the building, but not to your possessions.

Myth #2: “My possessions aren’t valuable”: Many renters sell their possessions short. Add up what it would cost to replace everything you own. Chances are it will amount to thousands of dollars. And while your furniture may be old, you’ll spend big bucks replacing it (not to mention your electronics). Renters insurance can help cover losses after a disaster.

Myth #3: “Renters insurance is too expensive”: The amount of renters insurance you purchase is your call. But you’ll want to purchase enough to cover all your belongings, and that can be considerably less than you might expect.

Myth #4: “I don’t need liability coverage as a renter”: If someone injures himself or herself in your apartment, you could be sued. Renters insurance will cover your legal expenses, as well as medical bills, in this situation.

As with homeowners insurance, not all renters insurance policies are equal. Talk to your insurance agent; he or she will explain different policies and help you select the one that’s best for you.

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