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Amity Insurance Newsletter – April 4, 2011

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Featured Articles

Just Because You're A Renter Doesn't Mean You Don't Have Insurance Needs.
Many renters mistakenly believe that they don't need renter's insurance or view it as an expensive luxury. However, insurance needs aren't negated just because one happens to be renting their home...More>>

Know What Red Flags To Look For When Purchasing Your First Home
According to the National Association of Realtors, most average home buyers look at 10 to 12 homes before making a purchase. However, some can painstakingly look for months, even years, before finding the one...More>>

Protecting Your Business From Natural Disasters With A Disaster Recovery Plan
Of the U.S. companies that are victim to a man-made or natural disaster, the Contingency Planning Research Strategic Corporation says 43% never reopen their doors and 29% are out of business within the following two years. A study by Touche Ross found that companies without a disaster recovery plan only have a 10% or less survival rate. Business owners should be seriously asking themselves whether or not they have an adequate recovery plan for disasters...More>>

Does a Contractor's Insurance Cover Removing of Undamaged Property?
An electrical contractor runs miles of wiring through what will be a three-story office building. Following completion, the contractor tests the wiring, finds it satisfactory and leaves the job. After other subcontractors hang and paint the walls and do other finishing work, the general contractor tests all systems. This time, the electrical system fails. The GC summons the electrical contractor back; after more testing and diagnosis, the contractor concludes that there are faults in two segments of the system on different floors and adjacent sides of the structure. Fixing the problem will requiring tearing out the finished walls and a few appliances attached to them (a dishwasher in an office kitchen area, computer network equipment, etc.). Tearing these things out, repairing the faulty wiring, and reinstalling the walls and finishing them so they look flawless will cost much more than simply fixing the electrical problem. The cost is far beyond what the contractor can afford to pay out of pocket. Will its Commercial General Liability insurance help? The answer depends on the state where the building is located...More>>