Corporate Risk Management, Inc. provides personal insurance to individuals and business insurance to a wide variety of commercial clients.

Insurance is a complex business—let our liability experts help you cut through the clutter

Your commercial insurance policies cover you from the risks and liabilities of doing business…or do they? When you purchased your coverage, chances are that you were confident that you were doing everything possible to safeguard your company.

However, over 50 years of analyzing property and casualty policies has shown us that the odds are against you. From insurance agents with little experience in your industry and biased by commissions, to classification and administrative errors, our skilled insurance technicians consistently find significant liability risks not covered by policies. In some cases, the potential liability is in the millions of dollars.

For many of the same reasons mentioned above, you may also be paying too much for your commercial insurance. Whether it’s a case of overlapping or excessive coverage, or Workers’ Compensation overpayments, CRM insurance technicians will work with your insurance company to resolve the issue in your favor—in many instances, a refund check is issued. If needed, we can also secure new coverage from top-rated insurance companies.

BUSINESS INSURANCE

PERSONAL LINES

Shop Smart:
8 Things you should know when shopping for personal insurance

Glass coverage is not always what it’s cracked up to be

Don’t pay out-of-pocket costs for a cracked windshield. Most people get a rude awakening when they find out their windshield coverage is covered under the comprehensive auto coverage with a $250/$500 or higher deductible. For just a few dollars more, most auto insurance policies have a zero deductible option for glass breakage. If the damage to your windshield is a chip or crack smaller than 6 inches, it can be repaired. In most cases, when you have comprehensive coverage the repair is paid free of charge by your insurance company.

Don’t be shingled out by insufficient roof coverage

Make sure your roof is covered for replacement cost. An increase in hail and wind roof claims has forced some insurance companies to cover the damage to roofs on an Actual Cash Value (the amount to replace or repair the roof less depreciation). This may cost you an out-of-pocket cost in addition to the deductible. Some companies have a buy-back (additional charge) to make the coverage replacement cost.

Thought you couldn’t afford repairs to an $85,000 Mercedes? You may be right.

Guess who pays the difference when you total someone else’s $85,000 Mercedes and you only have $20,000 property damage coverage? You do. An insurance company will be all too happy to pay out $20,000, leaving you to cover the additional $65,000. Make sure your Property Damage Coverage limit is high enough to cover the high value cars out on the road these days.

Diamonds are a girl’s best friend. Let’s keep it that way!

Most home insurance policies only have a limited amount of coverage for jewelry. If you have a higher valued piece of jewelry such as an engagement ring, it needs to be scheduled on your policy with an appraised value to be properly insured.

When it rains it pours. Protect yourself with an Umbrella

Own a house? Have kids? You should have an umbrella policy. Umbrella insurance is extra liability insurance. It is designed to help protect you from major claims and lawsuits and, as a result, it helps protect your assets and your future. It does this in two ways:

1. Provides additional liability coverage above the limits of your homeowners, auto, and boat insurance policies. This protection is designed to kick in when the liability on these other policies has been exhausted.

2. Provides coverage for claims that may be excluded by other liability policies,including: false arrest, libel, slander, and liability coverage on rental units you own.

Don’t be caught out in the cold

Do yourself a favor and make sure you have rental car and towing coverage on your auto policy. For a very minimal cost, these coverages can be huge stress relievers. Being in an accident is stressful enough; having to pay for a tow and rental car costs on top of it might just throw you over the edge. The average cost for a tow is around $100, and the good thing about towing coverage is that it covers minor things like a flat tire or mechanical breakdown. Repairs from an accident can last up to a couple of weeks depending on the severity and/or availability of parts. Without rental coverage, you can plan on spending a minimum of $30 a day to rent a car.

“The backstroke” is not the best answer to the question “What do you do when your house floods?”

Flood insurance is NOT covered on your homeowner's policy. Most, but not all, homeowner policies have some optional coverage for water backup and sump pump failure, but it is limited to just the water backing up into your house through drains or water damage due to a failed sump pump. This coverage is optional and has a choice dollar limit. Flood policies can be purchased separately to cover one’s home and property due to flooding, so be sure to ask your agent.

A guarantee is only as good as the one who makes it

Most Insurance companies have a network of car repair facilities that they use. The good thing about using a repair shop from your insurance company’s network is that most insurance companies will guarantee the parts and workmanship of repairs following a covered loss for as long as you own the car. This is a feature that you will not get from your insurance company if you choose a repair shop outside of their network.

WORKERS' COMPENSATION

Get out of the “Pool!” Are you wondering why your company’s workers’ compensation insurance is in the "assigned risk" pool when you don’t have any claims? In most cases it’s because of the type of company you own.

Most insurance companies shy away from certain types of companies that they deem “Risky”. However, there are insurance companies that have good experience with undesirable risks, such as high-rise window washers, roofers, truckers, staffing agencies, and more. Independent insurance agencies, such as ours, are able to connect with these companies to get you coverage and pull you out of the pool. Just by being in the assigned risk pool you are paying at least 20% more than you should (and could be paying up to 40% more). We can help place you with an insurance carrier outside of the pool.


WORKERS' COMPENSATION BENEFITS INCLUDE:
  • Minimized Liability Exposure
  • Claims Management
  • Reduced Premiums
  • Loss Control Programs


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