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Three Risks Entrepreneurs May Overlook

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Running a business can come with many rewards but also risks. While owning a business is a dream for many, without taking the right steps to mitigate various risks, that dream can quickly turn into a nightmare. Fortunately, there are steps that businesses can take to reduce risks, such as building up liquid cash reserves and taking out the right commercial insurance policies. Visit Mutual Insurance Partners, serving Follansbee, WV, to learn more about commercial insurance.

Three Risks Entrepreneurs May Overlook

Cash Crunches

Many companies generate healthy revenue and enough sales to theoretically be successful. However, poor financial planning leaves them vulnerable to cash crunches.

If you’re short on cash and don’t have credit, you might not be able to purchase the supplies and inventory needed to fulfill orders, for example. Likewise, an unexpected cost, such as repairing an expensive piece of machinery damaged in a storm could sink a business.

Someone Gets Injured Onsite

Let’s say you own a restaurant, but someone slips and falls on the floor, suffering an injury. Even if you, the business owner did nothing wrong, you could be facing a civil case. The right commercial insurance policies can provide coverage not just for any settlements but potentially for legal representation as well.

Severe Weather Events

Each year, storms cause billions of dollars in damage. Businesses can suffer huge losses if commercial properties and equipment, among other things, are damaged. Fortunately, the right commercial insurance policies may provide the resources to help businesses get back on their feet after a storm strikes.

For Businesses, Risks Abound

There are many other risks worth considering, including economic recessions, tight labor markets, and more. A prudent approach to finances, developing forward-looking business strategies, and taking out the appropriate commercial insurance plans, among other things, can mitigate risks for entrepreneurs and businesses.

We Can Help!

Contact the Mutual Insurance Partners, serving Follansbee, WV, to learn more about identifying risks and the importance of commercial insurance.

Projects to Get Your Home Ready for Summer

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Getting your home ready for summer often involves a variety of projects to improve your family’s comfort, energy efficiency, and the use of your outdoor space. For those living in and around the Follansbee, WV area, Mutual Insurance Partners offers these project ideas to get your home ready for summer. 

Getting Your Home Ready for Summer

Wash Windows & Screens

Wash the windows and screens with hot, soapy water. Replace those screens that are ripped or beyond repair. Also, examine the seal around the windows/doors to see if they are sealed tightly, to avoid letting cold air escape.

Perform Air Conditioning Maintenance

The A/C works around the clock in the hot weather. Service your A/C system before the season, as this will ensure it runs efficiently and keeps your family cool.  

Clean the Gutters & Downspouts

Removing the debris from gutters and downspouts is smart as this ensures summer rains can properly drain away from home, preventing potential water damage to your home’s foundation and more.

Test Smoke & Carbon Monoxide Detectors

Check all smoke alarms, carbon monoxide detectors, and house timers have fresh batteries and are in working order.

Check & Improve Insulation

Inspect the insulation (attics, basements, walls, etc.) and add/replace when needed. Proper insulation is essential for a comfortable indoor temperature at a reduced energy usage cost.  

Prep Your Grill for Backyard BBQs

Get your grill ready by cleaning the grates and ventilation areas and checking supplies.

Power Wash Your Driveway & Sidewalks

Pressure washing is the fastest way to remove the dirt and grime that has accumulated since last year.

Keep Your Home Insurance Updated

If you live in the Follansbee, WV area and want additional information on how to protect your home, contact Mutual Insurance Partners today. We are happy to help!

How To Prepare Your Teen For Driving

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It is a scary time when teens start driving. There are lots of things you can do, though, as a parent, to help get your child prepared for this big responsibility. Here at Mutual Insurance Partners serving Follansbee, WV and the surrounding areas, we are here to help you and your teens drive safely.

How to prepare your teen for driving:

Honest Conversations 

It is vitally important that you have very honest conversations with your teen about your expectations for them as a driver. Teens often think of driving as fun, and although driving can be fun and a sense of independence is fun, they really need to understand that driving is a huge responsibility and that their life and other people’s lives are at stake. 

Real Consequences 

Your teen also needs to know that there will be real consequences for poor choices. Those consequences can involve their license getting suspended, fines, accidents, and even death. These are big topics that some parents think are too heavy for their teens. If you think these topics are too heavy for your teen, then your teen is not ready for the driving responsibility. In addition to those consequences, there should also be consequences for you if they fail to follow driving laws and rules that you have put in place. 

Driving is a Privilege Not A Right 

Remember, you are under no obligation to let your child drive. They have not earned a right to drive. They are being given the privilege to drive by the state and by you. That privilege can be revoked if they are not mature enough to handle the responsibility. 

If you would like to learn about our car insurance products, please contact us at Mutual Insurance Partners, serving Follansbee, WV and the surrounding areas. 

Everything You Need to Know About Commercial Insurance in West Virginia

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Commercial insurance is an essential part of protecting your business from unexpected financial losses. Whether you’re a small business owner or the CEO of a large corporation, having the right insurance coverage is critical for your peace of mind and your bottom line. Mutual Insurance Partners, a trusted provider of insurance in Follansbee, WV, can help businesses understand their commercial insurance needs and find policies that provide comprehensive coverage.

Why Commercial Insurance?

One of the most important types of commercial insurance is liability insurance. Liability insurance can protect businesses from legal claims arising from injuries or damages that occur on their property or as a result of their operations. In West Virginia, liability insurance is mandatory for most businesses, and failure to carry adequate coverage can result in fines and other penalties. Mutual Insurance Partners can work with businesses in Follansbee, WV to determine their liability insurance needs and find policies that provide the right level of coverage.

Another important type of commercial insurance is property insurance. Property insurance can protect businesses from losses resulting from damage or destruction of their physical assets, such as buildings, equipment, and inventory. In West Virginia, businesses are at risk of natural disasters such as floods and wildfires, which can cause significant damage to property. We can help businesses find property insurance policies that provide comprehensive coverage for their specific needs.

Finally, businesses in West Virginia should also consider cyber liability insurance. With the increasing amount of sensitive data that businesses store online, cyber threats such as hacking and data breaches have become more common. Cyber liability insurance can provide coverage for the costs associated with a data breach, including legal fees, notification costs, and credit monitoring services for affected customers. Our experienced professionals understand their cyber liability insurance needs and find policies that provide the right level of coverage.

Reach Out To Us

Commercial insurance is an essential part of protecting your business from financial losses in West Virginia. Mutual Insurance Partners can help businesses in Follansbee, WV understand their insurance needs and find policies that provide comprehensive coverage. By working with a trusted insurance provider, businesses can ensure that they are prepared for whatever challenges come their way.

What’s Not Covered by Home Insurance Policies?

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As a homeowner, it’s essential to understand what your home insurance policy covers and what it does not. While home insurance policies from Mutual Insurance Partners in Follansbee, WV, provide coverage for various perils, there are some exclusions to be aware of.

Home Insurance Exclusions

Natural Disasters

Standard home insurance policies usually do not cover natural disasters like floods, earthquakes, hurricanes, or tornadoes. Therefore, if you live in an area prone to these natural disasters, you may need to purchase separate coverage for them.

Maintenance and Wear and Tear

Home insurance policies do not cover maintenance or general wear and tear damages. Therefore, it’s the homeowner’s responsibility to maintain and repair their property to prevent any damages from occurring.

Intentional Damages

Your policy does not cover any damages caused intentionally by the homeowner or any other person in the home. This exclusion includes damages resulting from criminal activities such as theft, vandalism, or arson.

Business Activities

Home insurance policies are meant to cover damages that occur at residential properties. Therefore, any losses that result from business activities, such as injuries sustained by customers or damages to business equipment, are not covered.

Floods

As mentioned earlier, floods are not covered under standard home insurance policies. If you live in an area prone to flooding, purchasing separate flood insurance coverage is advisable. If you’re unsure whether or not you should worry about flooding, we can review the likelihood with you so you can feel comfortable deciding whether or not to purchase it.

Call Our Professional Team!

Understanding what’s not covered by home insurance policies is crucial to ensure that you have adequate protection. At Mutual Insurance Partners in Follansbee, WV, we believe that homeowners should comprehensively understand their insurance coverage. Therefore, we encourage you to review your policy and ask your insurance agent any questions you may have. Then, contact us today to learn more about our home insurance policies and coverage options.

Why do you need auto insurance in West Virginia?

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If you are in the Follansbee, WV area, you will find that owning a car is a good idea. When you are a vehicle owner here, you will have a much easier time navigating the area and getting to your destinations. As you are looking to buy a car here, it is also important that you select the right insurance plan.

You will need to have an auto insurance plan in this area for various reasons:

Financial Support

A reason that you should get auto coverage in this part of the state is so you can receive financial support. If you intend to buy a car, you will be making a large investment. It will be a good idea to ensure this investment is supported and protected, which can be done with a comprehensive insurance plan. Further, you will receive liability coverage, which will offer support if you are responsible for damages caused by an accident. 

Meet Obligations

It will also be a good idea to get an auto plan so you can meet your obligations. If you have taken out a loan or want to drive a car on a public road, you will have some auto insurance requirements. By getting a quality policy, you can remain in good standing with all such obligations. 

Mutual Insurance Partners Is Here To Help

If you are going to buy or lease any type of vehicle in the Follansbee, WV area, it will be very important that you get the right insurance for it. There are a lot of big choices to make when looking for this coverage and our team with Mutual Insurance Partners can help you build an ideal policy. We understand the importance of this coverage and our professionals can offer support that will ensure you build an ideal plan. 

Required Commercial Insurance in West Virginia

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If you run a business in West Virginia, there may be a couple of insurance policies that you are required to have, depending on your specific company. There are two types that are mandated under certain circumstances, so it’s best to know what they are and whether they pertain to your business. If you need commercial insurance, give us a call today at Mutual Insurance Partners in Follansbee, WV.

Two Types of Required Commercial Insurance

Workers’ Compensation Insurance

Accidents happen in the workplace, and when they do, they can be highly expensive. Employees who have an accident and are injured may have a lot of bills afterward, including their medical bills and legal costs. They may also require disability payments. All of these are covered by a workers’ compensation insurance policy. It will pay for all of these things so that the money won’t have to come from your business.

In West Virginia, this is required if you have one employee or more, and they can be either part or full-time. If you hire an independent contractor, this insurance is not required. If this insurance is required for you, be sure to get a policy right away for your own protection. 

Commercial Auto Insurance

If your West Virginia business owns a vehicle, you are required to have a commercial auto insurance policy. This insurance pays for any damages that are caused to others in an accident that is the fault of your vehicle’s driver. When this happens, and there are injuries and property damage, this insurance pays for those bills up to its payout limit. Both bodily injury and property damage liability have to be in these policies, but you can add others to your policy as well if you choose.

We Are Here To Help!

To keep your business compliant with the law, you may need one or more commercial policies. Call us at Mutual Insurance Partners in the greater Follansbee, WV region.

 

 

Will homeowners’ insurance cover my she-shed?

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Homeowners insurance has many benefits for homeowners. It covers many things that would be difficult for homeowners to pay for out of pocket. Homeowners insurance even provides liability coverage. Our Follansbee, WV team at Mutual Insurance Partners is committed to helping homeowners understand and explore the benefits of homeowners insurance. 

What is Homeowners Insurance?

Homeowners insurance provides financial coverage for the repair or replacement of your home, personal belongings, as well as any structure on your property. Homeowners insurance also provides liability/legal protection if you’re found responsible for harm or damage to someone else or someone else’s property. In short, homeowners insurance provides financial protection for damage and unexpected situations that occur involving your home.

Your insurance covers every structure on your property, your personal belongings, and damage to your property or home caused by approved natural disasters. Your policy clearly outlines what’s covered and what’s not. If your home is damaged and you must move out for the repairs, your insurance will cover your hotel stay and living expenses.

Will homeowners’ insurance cover my she-shed?

Yes/ Your shep-shed is a structure on your property. As a result, homeowners insurance will cover any damage to your she-shed, fire, burglary, vandalism, or damage related to natural disasters, in addition to the personal belongings inside of your shed. Your homeowner’s insurance also covers personal liability including medical payments for others, loss of use, and more.

However, your homeowner’s policy outlines which natural disasters or perils would be covered by a homeowner’s policy and coverage limits.

Contact Us Today

If you have questions about homeowners insurance and what’s covered, call us at Mutual Insurance Partners in Follansbee, WV. We can help you explore your policy and answer your questions.

Auto Insurance – Don’t Drive Without It

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Did you know that auto insurance is required in 48 out of 50 states? Are you adequately protected? Make sure. Let our team of experts at Mutual Insurance Partners, serving the greater Follansbee, WV area, help you with your auto insurance needs.

Auto Insurance: Why You Need It

The main reason auto insurance is necessary is due to liability, or responsibility for any damage you are responsible for. You may carry collision and comprehensive coverage for your vehicle, but what about any damage you are at fault for to someone else’s vehicle? Liability coverage, or bodily injury and property damage are required by most states.

The limits for liability coverage are state-specific. They provide financial relief for those people who are injured or suffer damages you are liable for. You need to carry enough insurance to cover the expenses of those damages.

Some states require more insurance coverage than others, such as no-fault states. These states require that every driver file a bodily injury claim with their insurance company after an accident, which in turn raises premium costs. No-fault states require you to also carry PIP or personal injury protection coverage as well. PIP covers the cost of medical bills incurred by you and your passengers in the event of a collision. The level of PIP coverage also varies from state to state.

Make sure if your vehicle is driven on public roads, that you have your state’s minimum liability coverage. Don’t risk driving without it. Regardless of the age of your vehicle, liability coverage is a must for every licensed driver. It could be very costly for you to get into an accident without this coverage. Don’t risk it – it is not worth it.

Give Us A Call

Contact Mutual Insurance Partners in Follansbee, WV today for a no-obligation quote. You will be glad you did.

Damage Protection Tips for Commercial Buildings

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Like any other property, commercial buildings need proper protection from damage. This is especially true for businesses that rely heavily on their buildings, such as retail stores, restaurants, and office complexes. Our team at Mutual Insurance Partners in Follansbee, WV offers comprehensive damage protection plans for commercial buildings. Our plans are designed to cover a wide range of risks, including fire, water damage, theft, and more.

The following are some tips to help you protect your commercial building from damage:

1. Make Sure Your Insurance Policy is up to Date

Insurance policies have a tendency to lapse, which can leave your business vulnerable in the event of an emergency. If your policy has lapsed, contact your insurance agent as soon as possible to get it reinstated. Mutual Insurance Partners informs clients of their insurance policy’s expiration date, so you’ll never have to worry about lapsing coverage.

2. Conduct Regular Maintenance And Inspections

Buildings which are properly maintained are less likely to sustain significant damage. Regular inspections can help identify potential problems before they become serious. Having professionals inspect once a year is typically sufficient, but more frequent maintenance checks may be necessary for older buildings.

3. Be Prepared for Weather-Related Emergencies

Flash floods, severe thunderstorms, and other weather-related emergencies can cause serious damage to commercial buildings. Your business should have a plan including evacuation routes, emergency services contact information, and a list of essential supplies. This helps ensure that your employees and customers are safe and that your business can quickly recover from any damage.

4. Install Security Systems and Alarms

Security systems and alarms help deter crime and alert you to potential dangers. They can also help emergency services respond quickly during an incident.

Protect Your Business From Damage With Reliable Insurance

Your commercial building is a valuable asset, so it’s important to protect it. Mutual Insurance Partners serving the Follansbee, WV area is verified by the Financial Conditions Division of West Virginia. We offer comprehensive damage protection plans for commercial buildings. Our plans cover many risks, including fire, water damage, theft, and more. Contact us today to get started on protecting your business.

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