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Many people believe that incorporation creates a legal veil leaving limited liability behind. This is not the case. Directors and Officers of a corporation are responsible for their actions, the actions of the corporation and in some instances the actions of other directors. The courts have assessed damages against directors of corporations for wrongful actions. …

We hire people to do odd jobs all the time. Some are licensed and insured sub-trades, some are general contractors, and some are your best friend’s teenager son. If something goes wrong, this can create an entire string of events involving you, the hired individual, your insurance company and their insurance company if they have. …

What will you do if you have an accident with your seeding equipment or if your combine is damaged by a rock or it catches on fire. You cannot afford to be without any of these pieces of machinery so you will rent a replacement.  Does your insurance policy pay for these rental costs while …

What do you do when you realize that you have sold defective product and there is more out there in your distributor’s inventory? Just remember, the quicker the response to this situation the less the damage, so now is the time to review your product recall action plan, not when you already have a product …

A lot of people think their ATV, Off Road Vehicle, Snowmobile or Dirt Bike is covered on their existing insurance policy.  This is not right! There is no coverage on farm, commercial or home insurance policies unless they are specifically scheduled. When you do choose to insure this on your farm, commercial or house policy …

I believe the number one mistake people make when buying insurance is insuring too low.  When discussing limits of coverage with an insurance company representative he confirmed for me that is their experience as well. One example is a barn fire, the cost to clean it up so they could rebuild equaled to 10% of …

We hire contractors to build, repair and to do general maintenance on a regular basis. Have you ever thought about what would happen if there were damages caused because of their work? Imagine you own a building and operate your business in it and you rent out some areas of the building that you do …

Typically, you want to insure your buildings for the cost to rebuild. Without actual quotations from a Contractor or an Appraiser, you do not know with absolute certainty what the limit of coverage on your policy should be. Even with that done there are a lot of outside forces that affect replacement cost. For example: …

Statistics show that farm accidents increase during the rushed long days of the harvest season. Of course there is often property damage and that involves your farm insurance policy. For example: driving into the machine shed with the combine forgetting to pull in the unloading auger or driving the truck away while the box is …

The Threshed Grain Floater is an important consideration for you. When placing coverage on your threshed grain, you need to insure to the maximum value that you have on hand at anyone time throughout the year. The premium that you pay takes into consideration the fact that this maximum value is typically for a small …