Definitions:

General liability covers your business for a variety of third party claims including property damage and bodily injury. Anytime your business has dealings with the general public, whether it is within your commercial property or on a job site, you can be held responsible.

Advertising Liability covers damages to third parties committed by a business in the course of advertising its products or services.

Products and Completed Operations covers liability arising out of the insured’s products or business operations off premises once those operations have been completed or abandoned. If you have ever purchased a CGL policy, you would certainly recognize these coverages.

So now let’s look at how your policy is priced for your premium. It’s generally priced in two different ways:

1. Annual gross income: This policy has a cost per $1,000 of income based on your tax return. You start out paying a “projected amount” for the year and after each year you are audited by your insurance company. If your income is higher, you pay more; however, if your income is lower, there is generally no reimbursement. Insurance companies are not always fair, so it is best to use a conservative amount. If you make more, you pay extra. The additional costs are not very high, as long as you break even.

2. Owner/Employee/Sub-Contractor costs: This is the most common type of CGL policy. Your premium in this type of CGL policy is based on a standard payroll for the owner and cost of employees (if you do not have a certificate of insurance naming your company “Additional Insured). As well as a cost of subcontractors (if you do have a certificate stating your insurance company as “Additional Insured”).

It is very important to know that the cost per $1,000 of an insured subcontractor is about 20% that of an uninsured sub-contractor or employee (an uninsured sub-contractor is simply looked at as an employee). The reason for this is that if a claim is the fault of your sub-contractor, you are on his/her policy and they cannot go after you/your insurance company. You have transferred your risk/your insurance company’s risk to your subcontractor. This is why the premium is so much less in that there is less risk for your insurance company.

A QUIK NOTE. THIS IS A VERY COMMON MISTAKE OF SMALL CONTRACTORS AND THEY GET HIT WITH BILLS ON AUDIT. YOU HAVE TO BE VIGILANT ABOUT COLLECTING CERTIFICATES OF INSURANCE FROM YOUR SUB-CONTRACTORS AND MAKE SURE THEY ARE NOT ALLOWED TO WORK BEFORE PROVIDING YOU WITH THIS CERTIFICATE NAMING YOU “ADDITIONAL INSURED”. IF YOU DO LET THEM WORK WITHOUT A CERTIFICATE YOU SHOULD HAVE THEM PAY A COST PER $1000 YOU PAY THEM. THIS WILL COVER YOU FOR THE ADDITIONAL PREMIUM COST ON YOUR AUDIT AFTER RENEWAL.

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What type of policy are you purchasing? Is it a “claims made” policy or is it a “per occurrence” policy.

There is a very important distinction between these policies and many insurance agents feel the per/occurrence policy should not be sold; however, I disagree. It is a less expensive policy and provides less coverage long term, but there is a place for it in the market as long as you know what you are buying for these policies can be as much as 40% less in premium. So here are the main differences:

Claims made policies only cover you if you have the policy while you are insured. If you continue to buy them year after year, it is generally not a problem; however, you can open yourself to not being covered if you switch insurance companies or shut down your business. The reason for this is that if a claim comes up after your policy period and you did not renew the insurance, there will be no coverage. You can protect yourself from this by buying “tail coverage” covering your prior work.

Per Occurrence policies work different in that if the claim initiated while you were insured, there is coverage no matter when the claim is actually reported. A good example of this is that lets say you are a plumber and do work that damages someone’s house but is not noticed for three years. This would be covered under a “Per Occurrence” policy, but would not be covered under a claims made policy, unless you kept the same policy renewing for those three years.

What is the Rating of Your Insurance Company

Insurance company are graded by their ability to pay claims and stay in business. The ratings are done by two major companies: AM Best and Standard & Poors. It is very important not to do business with a company below a B rating or a company that is not rated at all for 2 main reasons.

1. Your Clients and Contractors:

   You work for may not accept them for your certificate and you will have to buy another policy that is from a company rated B or higher

2. Your company does not have strong financial footing:

   If they have a bad year, they could go out of business leaving you with no insurance and there may or may not be any refund of premium. In the event you have a big claim, this could be a disaster

Am I buying insurance from an Insurance Company that is “admitted” and insurance company that is “non-admitted” or a”Risk Retention Group”?

This can be very important in that there is a major difference between the three, so here they are explained:

Admitted Insurance Company: This is the best type of company to buy from and includes most all companies you have heard of: Travelers, Hartford, Liberty Mutual, State Farm, Farmers, etc. This type of policy means that if the company goes bankrupt that the rest of the companies that are admitted will bail them out and you will have insurance even though your company has went bankrupt. Essentially, there is almost no risk of you being stuck without insurance if you have paid.

Non-Admitted Company: This means that your insurance company is not part of being admitted in the state you are buying insurance in and if they go “belly up”, you are left holding the bag. This is not always a bad thing in that many “non-admitted” carriers are still rated and can be rated higher than admitted companies. If you have an “A” rated “non-admitted” carrier, they still have very strong financials and the chance of them going bankrupt would be very little. There are some lines of business like roofing insurance where it is simply not possible to find an “admitted” insurance company.

Risk Retention Group: This is the lowest form of insurance to buy in that is always “non-admitted”. They really do not need to go by any rules as far as the language of the policy; however, it does have a place in the insurance market for it is inexpensive. The major problem with these type of policies is that they have a maximum amount they will pay out in any one year, like lets say $5,000,000. Once they pay this amount out, there is no more coverage for anyone. So, if you have a big claim and they have reached their maximum, you are on your own.

Exclusions in your policy, what are the standard ones? There may be more.

Designated work: You are not covered for claims that arise our of work that are not listed on your declarations page. This is a big one. So lets say you buy a carpenter policy and you are only carpentry work is listed on your policy. You run into a job working on a kitchen and you are good with your hands and also dabble in plumbing and electric. It is an easy job and you decide to do the plumbing yourself.

You make a mistake and flood your clients house causing $30,000 damage. There is no coverage. Make sure your policy covers other class codes than the ones listed. By nature, most contractors do other work and don’t pass up money to go back and look at their insurance policy. This is not expensive to have this removed. Handyman is the biggest danger with this endorsement.

Subcontractors that are independent: This is a big one. Lets say same situation and you hire friend to do work with no certificate of insurance . In face, he is uninsured and you are helping him out “Throwing him a bone”. He messes it up and it is on you. You were the lead in this situation and policy does not cover errors and omissions out of work that you were legally responsible for. This can be deadly.

Asbestos: This is not covered. Almost all policies exclude any work involving asbestos or any other hazardous material. This means the costs of removal or damage as well as the course of effecting such removal. This is a very common exclusion.

Professional Liability Coverage: This is coverage for incidents that arise out of the services you provide or fail to provide. Essentially this is Errors and Omissions coverage similar to what a doctor or lawyer might purchase. It may include work by you or by any architect, engineer, surveyor or anyone employed by you. Services related to professional liability could include orders, surveys, blue prints maps, designs drawings, structural changes, inspections, engineering services, etc.

Please note. If you are doing any type of approving, designing, consulting, drawing, etc., please buy this coverage. IT IS A NO BRAINER. The cost is about 1% of your revenue and you can pass the costs to your customer. This is becoming a more common lawsuit. If things go sideways on something you had any part of and the loss is large, you can bet you will be named in the lawsuit whether you were right or wrong. One of the most important parts of this coverage is it pays for your defense as well as damages if you lose. Without this coverage, your day starts with dropping off a $10,000 retainer fee to the attorney and on upwards from there. In construction law cases, many times the defense costs are larger than the amount of the lawsuit. This is something to think about for no coverage you can be “held up” by other parties knowing they can run you out of money.

• X-C-U- Explosion.

  Collapses and underground. Very important if you are doing any excavation or digging.

• Know Losses.

  You are not covered for any losses going on that you know about. Obviously..

• Roofing.

  This is a big one and please listen up. Many of the contractors we work with are small and do all kinds of work. The prices for a starting $1,000,000 policy can be as low as $700 where are roofing policies start at $2,800 to $3200 with New York being higher. We have some policies that will let you do roofing if it is less than 10% and you subcontract to INSURED sub-contractors naming you as additional insured. This is our most common denied claim and easiest for insurance companies to deny. The claim results from roofing and you signed off you do not do roofing. We know it is 3x the price to do roofing for general liability, but misrepresenting the type of work you do will provide you no coverage in the event of a loss for a non covered activity. So you are paying for nothing. Instead, pay the extra money for the insurance and pass it on to your customer. In the end, you are protecting them anyway. These insurance companies have been around and you will not beat them.

• Residential.

  Residential work is excluded. In many types of contractors policies there is no coverage for residential work. This could state single family homes are excluded or dwellings up to four units.

• Condominium work.

  Work done for condominium or HOAs are excluded. This exclusion will usually let you work for individual unit owner. i.e., A painter is painting the inside of a condominium.

• Apartment buildings.

  Very similar to condominium exclusion in that work on residential apartment buildings are excluded.

• Height.

  Many policies have exclusions for doing work over 3 stories, 4 stories or 6 stories. Self explanatory, but check your policy.

• Employment Practices Liability Insurance.

  This exclusion involves claims arising out of employment related practices. Some good examples of claims from this could include the following: wrongful hiring, wrongful firing, sexual harassment, omission, race discrimination, etc. These claims have went up 5 times in the last ten years and will be rising.

• Pesticide and Herbicide exclusion.

  You should have covered if doing landscaping.

• Exterior Insulation and Finish System.

  If you work with this, you know what it is and you need to make sure this is not excluded on your policy. This exclusion has to do with exterior insulation or synthetic stucco. Claims arise out of this product from mold and insurance companies run.

• Pool Pop.

  The rising of your pool from water

• Foundation work.

  Very important for General Contractors, Excavators, Waterproofing, etc..

• Lead.

  Any claim that arises out of lead is generally not covered and expensive to buy coverage in that coverage will usually come from a pollution insurance policy. This may included but is not limited to repair, replacement, drawing, design, reinforcement, sub-structure, etc.

Additional Insured Language

There are all types of additional insured and most companies will take a simple certificate stating you have the coverages outlined on page 1; however, larger contractors generally want to protect their insurance policies and pass the risk “downstream” to you in asking for language that favors them. The 3 main endorsements that they may ask for on their policy along with special wording transferring more of the risk to you are as follows:

1. Additional Insured CG2010
2. Primary Wording
3. Waiver of Subrogation

Manuscript Policies vs ISO Policy

Manuscript policies:

These are policies that can contain any language or exclusions the insurance company wants. They are usually only seen in the “non-admitted” market and may offer very little coverage for what is usually a low price. Your certificate may look the same, but behind the numbers there is very little coverage. There may be handwritten policies written for large companies that may add more coverage and be specific to a large company’s needs, but for small companies, this is usually not the case. Many times, certificates are sold that show numbers and show that you have insurance, but often little coverage. These policies have their place in the market for small businesses that can’t afford a better policy and need something that works.

ISO Policies

Are standard policies that the industry has agreed it to be fair for the client and for the insurance company. Most all large companies use ISO forms such as Travelers, Hartford, Farmers, State Farm, etc for they mean to be fair and the language is the same for the entire industry. Many Risk Retention Groups as stated earlier do use Manuscript policies that do not offer a lot of coverage, but are inexpensive to purchase.

Deductible

Slightly different than property insurance, but is generally the same. In liability insurance it is called self-insured retention or (S.I.R) meaning you retain the first amount of these dollars in the event of a claim. If you have chosen to purchase a $2500 S.I.R and have a $13,000 claim, you would pay the first $2,500 and the insurance company would pay the $11,500. The higher your self insured retention, the lower the price should be.

Short Summary in review

• Buy 1m/2m.
• If you are a light contractor buy name brand company (ISO) policy.
• You cannot buy a policy for less than 3 months.
• Ask broker if additional insureds cost per certificate of insurance or unlimited in price.
• Is there a deductible..how much is on your end and how much will the insurance company pay.
• Do you have “Blanket” additional insured. If not, you will be paying $100 for each certificate of insurance.
• Are you with an A rated Company ?
• Is it a non admitted or admitted policy?
• Do you work for large contractors. If so do you have language in place they will require.
• Do you need professional liability?

If you have any questions about this or any other insurance needs feel free to contact the knowledgeable agents at ContractorsLiability.com at 773-985-2528 or go to our website for a QUOTE. We offer 5 Star customer service and can often get you insured in under an hour.

The post How to Purchase Contractors General Liability and Where You Can Go Wrong appeared first on Contractors Liability.

Product liability simply means an area of law that is concerned with the injury derived from the use of a product. If you use a product and it turns out to be detrimental to your health, you have every right to file a lawsuit against the manufacturer of the product.

The responsible party in the event of a product liability would be the defendants in the lawsuit presented to the court by the injured party. When talking about the responsible party, it could be the manufacturer or the wholesaler, distributor and retailer.

When a consumer is filing a product liability lawsuit, manufacturers and distributors are the potential parties that would be held responsible for the defective product that led to the injury. You can protect yourself with product liability insurance.

Examples of Product Liability

A good example of product liability is a case with Toyota cars when they had defective accelerators and brake pedals. It was all over the news that Toyota cars had defects and that was the reason why the specific cars with the defect were separated so that no other person would buy them and get injured. The same thing goes for products that are widely distributed and are discovered to be defective in any way. Majority of these products would be recalled and put in order. According to the Consumer Protection Safety Commission, a large amount of products are recalled every year so as to ensure that consumers are buying products that are free of defects.

Producer, Designer or Manufacturer and Product Liability

Sometimes, the defect of a product might not be the fault of the producer. It might be that when the products were being marketed, it was damaged in a way and it became defective. A product’s defect may also be as a result of the design effect and this occurs even before the products were manufactured in the company.

The only time when manufacturing defects take place is when the products are being produced and in most cases it is not all the products that will be defective. But a design defect will affect every product because it is probably from the raw material used in producing the goods.

Marketing Defects and Product Liability

Marketing defects are also part of product liability and can be as a result of the company’s failure to give the consumers the right instructions as to how to use the product.

It could be that a product is to be used in a certain way and the consumers did not get the right information about the product, when the product becomes defective to them, the marketers would be held responsible for this product liability. This type of product liability has been by far the most difficult type of case to prove.

Companies and Product Liability

Most cases under product liability are considered strict liability because if the product is indeed found defective, the company that produced the good would be held fully liable for the injuries caused by the product usage. That is why it is advisable for manufacturers to prevent these defects because even if suppliers and store owners are held responsible for a product defect, it would still be traced to the manufacturer.

Suppliers, wholesalers and retailers should also be careful when they choose the products they want to sell. They should properly scrutinize the product to be sure that it is free from defects.

Now referring to the consumers; if you have ever been faced with a product liability case and you had no idea of how to go about it, well the best thing to do in this case is to look for a good lawyer to handle your lawsuit. Although cases of product liability are usually complicated; but with the help of an experienced attorney, you will be sure to win the case.

Reasons for Cases About Product Liability

The bases used in determining a good case against the manufacturer/supplier of defective products are: Negligence, Breach of Warranty and Misrepresentation.

Negligence

This is when the manufacturer fails to produce goods that are free of defects. It might be as a result of the raw materials used in production or during the actual production.

Breach of Warranty

This is when the company fails to stick to their end of the promises they made when they wanted to sell their product. If you get injured in this process, you have every right to file a product liability lawsuit against the company.

Misrepresentation

This one has to do with the marketing department. If the products are advertised or marketed in such a way that the consumers were not notified of the dangers involved when using the product, they can be charged with product liability lawsuit.

Prevention

Manufacturers of products should endeavour to inspect and test their products throughout the process of production. It is also advisable to use safe materials when they are making products so as to prevent defects as a result of raw materials. When they finish production, they are also advised to warn consumers of a product if it poses any danger when using them. This way, manufacturers would be able to avoid injuries from their consumers and consequently prevent lawsuits.

You should know as a consumer that if you fail to use a product as directed by the manufacturer and you get injured in the process, the manufacturer would not be held responsible for the injury. That is why products designed for children should be extremely safe because children might misuse the product.

Causation and Product Liability

It is not proper to talk about product liability cases without bringing up the term called “causation”. This simply means proving that the injuries caused to you were as a result of the defect of the product used. Before a consumer can get any form of settlement from the manufacturer in cases of product liability, he or she has to prove that the injuries were caused by the use of the manufacturer’s product. In this case, if there were other cause of your injury apart from the use of the product, the degree of the product’s defect would be determined before the manufacturer will pay any amount as compensation. This is when the need of an attorney arises because he will be the one to prove that the product was defective when you bought it.

Another term that comes up when talking about product liability is “class actions” and this is often when the case involves lots of people that were injured. Now you know what product liability is, it is up to you to know how to go about it when faced with such a case. To protect yourself in the case of product liability, be sure to get a quote on product liability insurance.

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Every business owner knows that the Country is in the grip of liability lawsuits mania. The number of lawsuits against small businesses has skyrocketed in the last ten years. No one party is willing to take responsibility for their own actions.

Any accident, mishap, libel or product liability is always someone else’s fault. Attorneys are bombarding the airwaves drumming up cases for their firms. You have lost control and are the responsible party that the court of law will determine being responsible for the liabilities for injury and harm caused to a plaintiff As a result, the lawsuits are coming fast and furious. If you operate a small business it is only a matter of time before the sheriff is knocking on your door ready to seize all your property.

This is why you need the protection of a Business General Liability Insurance policy.

You should also have an Affordable Commercial Auto Insurance Policy. This will protect you from any legal liabilities you may be held liable for by any court decision after the legal process runs its course. The liability exposures that certain types of businesses that use vehicles for income producing services is quite broad. If an employee in the course of their employment is party to an accident and causes injury or bodily injury to a plaintiff or their property, the responsibility and the legal liability for the injuries will fall on the employer.

One of the most overlooked benefits of a Low cost Business General Liability Insurance Policy is that it includes coverage for legal fees in the event of a covered claim. This is included with your coverage for any judgements, awards or settlements for any claims that the courts may find your business has legal liability for.

If you do not have insurance these fees along with any judgments will be paid by you. For most small businesses this would more than likely force them to close their doors for good. It is important to realize that no matter how careful you are, accidents will happen. Also, a meritless claim still has to be defended and legal fees paid.

Business General Liability Insurance Policy Limits

With all Business General Liability Insurance Policies you have Policy limits. These are the maximum amount the insurance company will pay on your behalf in the event of a claim. They are usually stated as two numbers such as $1 Million/$2 Million.

What this means is that the company will pay up to $1 Million for a single claim and up to $2 Million if you have multiple claims. (On a side note, run away from any agent that attempts to sell you a lower amount.

Pro Tip

The difference in cost of a $250,000 and $1 Million policy is generally less than $50 per year.

Legal Costs Inside The Policy Limits VS Outside The Policy Limits

The insurance companies have taken notice of this trend. One of the things more and more policies contain is that costs of defense are included in Inside The Policy Limits. What does this mean you may ask yourself? Well here is a simple explanation.

When your policy has legal costs Inside the Policy Limits wording this means that any costs generated in defending the claim against you will reduce the amount available to pay any judgment, if one is awarded.

Here is an example. A customer files a lawsuit against you for damages caused by negligence or libel. The insurance company spends $400,000 in legal costs defending you. You have a $1 million policy limit. You will only have $600,000 to pay any judgment because of the Inside the Policy Limits wording. The insurance company is only responsible for $1 Million and $400,000 was legal costs.

When your policy has legal costs Outside the Policy Limits wording this means that any costs generated in defending the claim will NOT reduce the amount available to pay any judgment if one is awarded. Here is the same example as above but in this case, the policy contains Outside the Policy Limits wording.

A customer files a lawsuit against your business. They spend $400,000 in legal costs defending you. You have a $1 million policy limit. You will still have $1 Million to pay any judgment because of the Outside the Policy Limits wording. The insurance company is still responsible for $1 Million for any judgment and $400,000 legal costs.

This may seem like a trivial matter, but in the real world, this can mean life and death for your business. It does not take much in this day and age for legal bills to reach the stratosphere. You need to be aware that if there is a judgment against you that exceeds the policy limits of your insurance policy you will be the party left holding the bag for the difference. If your policy has Inside the Policy Limits wording the greater the chance of this happening.

Is There Anything Else That Will Give Me Greater Coverage Limits?

There are a couple of ways you can protect yourself before you become a defendant in a negligence or tort court case. These will protect officers, owners, and employees from lawsuits that may prove their negligent actions were the proximate cause of the parties injury.

The relevant factors in such cases were damages awarded to the suing party prove to be greater than the policy limits, and the liable party or parties will be liable for the harm caused. This is generally an amount of money given to a plaintiff as a breach of duty was found by the law courts for a failure to act or a specific type negligent action.

The following tips and strategies will help you meet your legal liabilities in the event of a catastrophic event that seems to be happening more and more in the business world where the court would award damages to a plaintiff for an injury a defendant was found to be liable for.

Increase your underlying Policy Limits

If you want to increase your protection for legal liability the easiest way is to increase your liability insurance. Most companies for example increase coverage to at least 2 Million dollars up to 5 Million dollars per occurrence.

Excess Insurance

This type of policy adds additional coverage limits only on top of an existing liability insurance policy. It increases the liability coverage of just that policy. So for example let us say you have a general liability policy with a $1 Million underlying policy with $3 million excess coverage and a commercial auto insurance policy with a $1 Million policy for bodily injury. An employee or employees in the course of their employment is negligent and causes a vehicle accident where the legal liability exceeds the $1 million dollar coverage, the employer would be the party legally liable for paying the person for their injury.

Umbrella Insurance

This type of Excess insurance lays over the top of all the policies of the insured.That is why they are called Umbrella policies they cover everything like an umbrella. They are issued in amounts of $1 million increments in most cases. Using the same example as above in the Excess Insurance section.

So for example let us say you have a general liability policy with a $1 Million underlying policy with and instead of $3 million excess coverage, they have a $3 million Umbrella and a commercial auto insurance policy with a $1 Million policy for bodily injury. An employee in the course of their employment is negligent and causes a vehicle accident where the legal liability exceeds the $1 million dollar coverage, the employer and any other officers or covered parties would have coverage for any court verdicts up to $4 million.

Pro Tip

It is in your control to determine how much protection you need. In some situations the contract or sub contract you have determines the amount of coverage you need. It is important to read the contract to see the requirements before you take the job.

Depending on the contract requirements it may not be economically viable to meet the terms of the contract. As an owner you do not want to be liable for the violation of a contract term by failure to meet your contractual duty.

A simple example of this would be a person who signs a contract for a $12,000 job with a prime contractor. The contractor requires a $5 Million Umbrella policy for liability. This policy may cost over $5,000 for a year. Unless the contractor had more contracts subject to this liability requirement it would probably not make sense to enter into this contract.

However, having access to higher policy limits for liability should make your services more attractive to a property owner who has the responsibility to hire a party that has access to their property in the event of injuries. So in the long run you may be able to by having additional insurance.

Have Any Other Insurance Questions?

We are happy to answer any questions you may have contractorsLiability.com has the capability to provide quotes for the hard-to-place risks and get you insured quickly and conveniently. We have the experience to analyze and recommend the appropriate affordable Business General Liability Insurance Coverage. Call now to speak with a knowledgeable agent.

Our experts can review your needs and get you the proper coverage your business deserves. They will make sure you have the coverage you need at the best price for you. Best of all, you can get a free, no-obligation quote in minutes.

So act now If you have any questions about this or any other insurance needs feel free to contact the knowledgeable agents at ContractorsLiability.com at 866-321-5711 or go to our website for a. We offer 5 Star customer service and can often get you insured in under an hour.

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There are a few simple techniques below that will help you save money and honestly quite possibly be the difference between running a successful business or abject failure. So do yourself a favor and spend some time reading this article.

You will be shown a lifetime of knowledge in a few simple paragraphs that anyone can understand. So let me start you on a journey to success.

Type of Business Entity

This should be the first step in any business plan. To be successful you must plan ahead. There are 4 major types of business entities to choose from:

Sole Proprietorship (DBA)

This type of business is the simplest and most basic. You use your own name or a DBA. It is taxed as a pass-through entity.

The pros of this type of entity are that it is cheap and you can use your own social security number or you can get an EIN (Employer Identification Number). The Cons are that you have no protection from creditors if things go wrong.

Partnership

This is another simple type of business arrangement when 2 or more people start a business together.

The tax information on Partnerships can be found HERE. The pros are that it is simple to start and not very costly to organize. The cons are like the Sole Proprietorship, you have no protection from creditors if things go wrong.

Corporation (INC)

This type of business entity requires that you file paperwork with the Secretary of State where your business is located. The tax information can be found HERE. The pros are that it is relatively simple to form, and it gives you the protection of your assets that are not included in the corporation from creditors in the case of business loss.

Cons, it can be expensive to set up, you will need to possibly file State and Federal Corporate tax returns. Each year there are generally fees paid to the State to keep the corporation in good standing.

Limited Liability Company (LLC)

This type of business entity requires that you file paperwork with the Secretary of State where your business is located. The pros are that it is relatively simple to form, and it gives you the protection of your assets that are not included in the LLC from creditors in the case of business loss. You can choose how the entity is treated for income tax purposes.

Cons, it can be expensive to set up, you will need to possibly file State and federal tax returns depending on how you chose the entity to be taxed. Each year there are generally fees paid to the State to keep the LLC in good standing.

Pro-Tip

It is best to start the business off the right way even if money is tight. You should contact a lawyer or an accountant to guide you through. It is money well spent and may save you future heartache.

Ask your advisor about the costs of forming the different types of entities, including the annual costs to keep it in good standing. There are certain quirks in the various State laws that you need to research. For example in Illinois roofers can not form an LLC the must form a PLLC, it is basically the same thing as an LLC, but if you try to get your roofing license your application will be rejected and you will have to amend your filing with the Secretary of State to change to a PLLC. California requires LLC’s to post an expensive $100,000 bond for Workers Compensation, if you have a corporation it is not necessary. These are just a couple of examples of pitfalls for the unaware.

Do I Need A Roofing License?

You need to do a little research. A number of states require licenses to become a roofer. You can find a list HERE. Roofing is regulated at the State level. Every state has different requirements. Further, there might even be County or Local requirements. The license requirements may be very strict depending on the state you are located in.

For example, Illinois has two license classifications, Limited and Unlimited licenses. To get the license you must register with the State and pass an examination based on your request classification. There are also insurance and bond requirements.

In some instances even though you have a State license a local municipality may require you to register before you can pull a permit. This usually entails filling out their application along with providing them proof of insurance.

There are many resources available online that you can use to find the exact requirements.

Pro Tip

Many municipalities and States may require you to purchase a bond. There is no blanket bond that covers everything. Each bond must be purchased individually, luckily they are usually around $100.

Picking A Name

You need to pick a name for your business. I know this may sound simple-minded but you need to pick a name that sounds professional. I have been doing this a long time and the names people come up with might surprise you. I have heard and seen almost anything. Would you hire a company called 3 Drunks with Hammers, LLC., to install your roof?

Try to keep names simple and easy to spell as well. I wasted many minutes trying to get long email addresses over the phone correct.

Get your domain name as your email address. This does not cost very much and makes you look more professional than using a Gmail account or Yahoo.

Insurance For New In Business Roofing Companies

Getting affordable New in Business Roofing General Liability Insurance can be a daunting task. Roofing is one of the risker contracting trades. Employees can get injured from falls, the roofing process can go wrong and property and persons may be injured.

Most standard insurance companies like State Farm and Allstate do not write General liability insurance for roofers. The companies that do write Roofers Generally do not take new business roofers. At ContractorsLiability.Com we specialize in getting New In Business Roofers Insurance. It is actually our specialty.

We have helped thousands of roofing companies across the country get insurance for the first time over the last 20 years. So let us start with the basics of insurance for your business.

Roofers General Liability Insurance

This is the most basic insurance. In order to be licensed or pull a permit, you will at the very least be required to have an Affordable New In Business Roofer General Liability Insurance policy. This will protect your business from claims for damage caused to third parties’ property or persons. If you do not have this coverage you will be responsible to pay for these items from your own pocket. It is also important to remember that the coverage also includes payment of legal fees in the event of a covered claim or settlement. In some cases, this can be greater than the amount of the loss.

Workers Compensation Insurance For New Roofers

Every State will require you to have Worker’s Compensation Insurance if you have employees. In most instances, you will have to go into the insurance “pool”. This pool is made up of insurance companies that write business in the State. Since worker’s compensation insurance is mandatory the State needs a mechanism to force Insurance Carriers to write business they otherwise would not write.

Since you have no experience with the insurance company to base their rate off expect to pay a lot. Roofing is a high-risk class code so you will pay large premiums even if you have experience. Workers’ compensation insurance is based on your payroll and the class code that payroll is assigned to. Guys up on the roof have a different code than the person that answers your phone. A new in business roofer Workers Compensation Insurance policy premium will be a percentage of your payroll. For employees doing roofing, you can expect to pay as much as 50% or more of your payroll amount as an insurance premium.

Workers Compensation Insurance is required by law and failure to purchase it to cover employees can lead to large fines along with the responsibility to cover any losses by an employee injured on the job. Your General Liability Policy does not cover injury to employees.

Commercial Auto Insurance

A commercial auto Insurance policy for New In Business Roofers provides coverage for vehicles used in your business. If you only have personal auto insurance and are in an accident there is a good chance your insurance company may deny any claim.

They will not provide coverage if you were using the vehicle for income-generating purposes. It is kind of hard to explain to the insurance company how a van covered in your roofing business’s advertising was being used for personal business.

While commercial auto insurance may cost more than personal coverage, you have peace of mind knowing that you will be covered if there is a claim if you are using your vehicles for business purposes. Further, the money paid for commercial auto premiums can be expensed on your business tax return.

The long and short of it is that if you use your vehicles to produce the income you need commercial auto coverage to be properly protected.

Affordable New In Business Roofer Commercial Auto Insurance Policies has various insurance packages that you can purchase. You can add what is called hired and non-owned coverage. It covers commercial auto liability damages.

It includes paying settlements or judgments. It will also pay attorney fees and other court costs that arise as a result of an auto accident for which you or an employee is responsible.

Inland Marine Insurance

This type of insurance covers the tools and equipment used in your roofing business. It protects things like tools, compressors, trailers, and other types of equipment from loss or damage. Remember without this coverage you will have to come up with the money to replace things that are lost or destroyed.

Surety Bonds

To be a Licensed roofer some States like IL, CA, and WA to name a few require you to have a bond to get a State license. Even in these States, local municipalities may require you to purchase a separate bond to pull a permit or register as a contractor. These bonds are relatively inexpensive if your credit is good in most cases under $250 a year.

There are some places that do not require a bond but In your everyday life, you see contractors advertise that they are bonded and insured. You might say I want to advertise that as well. That is a wise choice as it separates you from your competitors by showing that you are financially responsible. A bond can be purchased in these situations for around $150 a year. This will allow you to show prospective clients that you are bonded and insured.

New In Business Roofers Insurance with ContractorsLiability.Com

New in Business Roofing Contractors truly have unique insurance needs. From General Liability Insurance, Workers Compensation, Commercial Auto, Inland Marine Insurance, and Surety Bonds.

Let us take the hassle out of searching for the best New In Business Roofer insurance quote. Tell ContractorsLiability.Com about your business, and we’ll help you find a policy tailored to match your needs at the best price. We are one of the internet’s premier agencies for helping New In business roofers find insurance.

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The Legislature has created a new licensing category of construction contractors called licensed plumbing contractors. Starting July 1, 2021 only contractors with this license can do plumbing work.

To be licensed, plumbing contractors will be required, among other things, to carry both a:

Washington Continuous Contractor Surety Bond

You will need a bond in the amount of $6,000. The Washington Plumber’s Bond is usually under $200 a year if your credit is good above 700 and no bankruptcies. These bonds can be issued in a matter of minutes and can be emailed to you.

General liability insurance

General Liability Insurance policy covering up to:
$50,000 for injury or property damages, $100,000 for injury or death to one person, and
$200,000 for injury or death to more than one person.

A Plumber’s General Liability Insurance Policy can be purchased in most cases. This will allow you to be in compliance with the new law. It will also protect you from any fines or penalties for operating your business without the proper insurance.

OR

$250,000 combined per occurrence

Pro Tip: At ContractorsLiability.com we have you covered for Low-Cost Washington Plumbers General Liability Insurance. We only sell policies that exceed the State minimum requirements. Our reasoning behind this is simple. The annual premium savings from the State minimum and $1,000,000 in coverage is usually less than $50 a year; it makes no sense to save those small dollars and give up the protection afforded by the high limits.

The new plumbing license is a big change for current general construction and specialty plumbing contractors. They will no longer meet state requirements to perform plumbing work under their current contractor registration.

The Washington State Department of Labor & Industries (L&I) is implementing the new law.

Here is some information about the new law from L&I that may help you:

L&I will no longer register contractors under the “construction contractor specialty plumbing” category starting July 1, 2021. 

• If contractors with that existing registration want to become licensed plumbing contractors, they must obtain a new bond for the new license.

Some contractors may want to obtain the new plumbing contractor license and maintain their general construction contractor registration.

• A separate bond will be required for each registration and license. 

Contractors can use their liability insurance to meet both general construction contractor registration and licensed plumbing contractor requirements. 

• However, they must submit separate certificates of general liability insurance for each license and registration showing the correct L&I program as the certificate holder.

As an example:
A general construction contractor’s certificate of insurance would name L&I Contractor Registration Section as a policyholder.

A licensed plumbing contractor’s certificate would name L&I Plumber Certification Program.

Why Should You Choose ContractorsLiability.Com For Washington Plumber’s General Liability Insurance?

Many insurance agencies are equipped to deal with only the most basic insurance coverage, like general liability, auto insurance, and worker’s compensation. But as our namesake suggests, ContractorsLiability.Com is equipped to address any Washington Plumbing Insurance question for any type of Plumbing Business. We understand contractors and the immense risks they take when they provide their necessary services. In return, we help them find the rates and policies that work for them.

We also provide the following:

• The finest Comprehensive plans for your Plumbing business
• Licensed insurance agents that are knowledgeable
• Same-day coverage in most instances
• Coverage from A-rated insurance companies
• Ability to offer policies specifically designed to meet L&I Plumbers Insurance requirements
• The lowest price for the best Plumber’s General Liability Insurance coverage in the industry
• Ability to provide Plumber’s Surety Bonds in minutes so you can get permits pulled and work started

Plumbers deserve complete coverage as they keep their clients and jobs flowing smoothly. ContractorsLiability.Com is here to help with all your insurance coverage needs, including specialized plans for Cheap Plumber’s General Liability insurance. For more information, contact us via web or call us at (866) 225-1950 for a quote in five minutes.

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Every business faces potential risks and threats that could cause serious financial losses or even closure due to a property damage claim or a liability claim. As such, the high cost of insurance and the hassle of keeping your policy up-to-date causes many business-owners to be lax about coverage.

Statistics reveal that nearly 74% of American businesses are under-insured, while 40% of small business-owners carry no coverage. This in spite of the fact that more than 35% faced situations that could have led to a claim.

Furthermore, of these, nearly 23% relate to client dissatisfaction and more than 10% relate to employee injury.

Typical Risks

Here are common scenarios that could expose your contractor business to liability claims:

1. Onsite visitors: They may be friends of the property owner who drop in to simply have a look around. One of them gets injured on your construction site. As a result, they sue the homeowner who would in turn expect you as a contractor to pay for the damages.
2. Lapsed policy: You’ve had an unblemished safety record. You probably think an accident is highly unlikely on your site. Moreover, accidents can and do happen. Thus,if your policy isn’t up-to-date, you’ll have to pay for damages out of your own pocket.
3. Faulty installation: Your HVAC subcontractor installs a cooling-unit that’s wrongly sized. Fungus or mold forms, damaging the walls. Consequently, the workers or occupants suffer allergic reactions and health problems. Thus, medical expenses, job loss or income loss result. Consequently, they may hold the contractor liable.

Contractors can be held liable for a variety of property damage claims and liability claims. Moreover, if you run your own construction contractor business, it’s essential that you know how to protect yourself and your business.

You could face damages or losses for:

• Theft
• Vandalism
• Third-party property damage
• Delays
• Faulty workmanship
• Injury
• Damage due to natural causes
• Slander
• Replacement damages
• Accident to commercial vehicle
• Fire damage to building in progress
• Errors and omissions

Get The Right Coverage

Protecting your contractor business, no matter what its size, is crucial to its survival and growth. Moreover, General Liability Insurance and Contractor’s Liability Insurance give you umbrella coverage against several (but not all) important risks:

• Property damage: covers you against liability if you or your employee causes damage to third-party property or the building and property you’re working on.
• Bodily injury: If you or your employee causes injury/death to third-parties during the project, you’re covered for medical and legal expenses.

You can also take on additional coverage such as Builder’s Risk, Workers’ Compensation, Advertising Personal Injury, Contract Liability, Commercial Auto, and Business Income.

How To Get The Right Insurance For Property Damage Claims and Liability Claims

Shop around for the best rates for property damage claims and liability claims. Connect with a reputed, well-established and reliable insurance service company that understands your business and services clients like you.

Get references from trusted sources.HaAnalyze your business risks, your own unique needs, preferences, budget, nature and location of project, value, and number of employees.  Ensure that you read your contract carefully. Manage your risks to lower your premiums.

Looking for more information on how to protect your contractor business against liability claims? Contact Contractors Liability at (866) 225-1950 to speak with a qualified agent.

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Recent studies show that there are more than 500,000 landscape businesses in the US, employing more than a million people. The market size is above $61 billion. However, 72% of this industry is driven by small business owners who face a number of risks. These include financial, liability, strategic, security and business interruption risks, common to most small businesses.

Do you have the right insurance?

Landscape business risks

Landscaping isn’t as easy as people think. For those who aren’t in the industry, it doesn’t look risky. But they don’t know that you could easily damage a client’s property, from pathways to walls, fences, patios and decks. There are also irrigation supplies or decorative water and lighting features.

Working with sharp tools and machinery add another dimension of risk. Does your landscaping business offer tree surgery, mowing or pruning? Then there’s the added responsibility for repair and replacement of both plants and garden features.

Expensive liability claims

So, what kind of threats can result in liability claims against your landscape business?

• Fire, theft or vandalism can cause damage/loss of expensive, specialized tools and equipment.
• Injury to employees or third parties on the job-site.
• Business interruption caused by equipment breakdown can cause financial losses and loss of reputation.
• Vehicle accidents are another potential risk. You or your employees may suffer accidents while driving company vehicles to travel to job-sites.
• Replacement of faulty products such as sod and seedlings if they fail to take root.
• You may rent or lease specialized equipment or vehicles for a project. If these suffer damage, or are vandalized or stolen, your business can be held liable.
• Using harmful pesticides, herbicides or other dangerous products can cause a contamination event.
• Bad design advice may result in damage to existing structures, plants and trees. Typically, flooding in basements, or damage to utility lines could result in liability suits.

All these situations can result in property damage claims or liability claims.

General Liability Insurance

Contractors Liability Insurance protects landscaping businesses like yours from property damage claims and liability claims. However, before buying your policy, be sure that it is tailored to provide coverage for your company’s specific needs.

Yes, a Contractors Liability policy provides coverage for claims against your company for property damage to the client’s property sustained during the course of your work. But, there are many different kinds of contractors: should you be paying for the same coverage as a roofing contractor?

Best rates for protection against property damage claims

Property damage can occur at any time. For instance, if your employee accidentally damages a neighbor’s fence, or a lawn-sprinkler system onsite, or a visitors car is damaged by debris flying out of your site.

Find out more on how to protect your landscape business against liability claims. Get in touch with Contractors Liability at (866) 225-1950 today. Our experienced insurance consultants are here to help get you the best rates for the most coverage.

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As a general contractor taking pictures of your construction project may not be a priority. That is, until you come face to face with property damage claims. However, construction sites are a playground for disaster, from storm damage to theft and vandalism. Property damage claims can set your business back financially. So how do you prevent financial loss when held liable for property damage?
As is common practice, you will hire specialists and ensure availability of equipment and materials. But things don’t always go according to plan. Which is why it is important to cover your construction project and business from unforeseen incidents.

Property Damage Claims

Many contractors often dismiss the importance of pictures as part of the documentation process. In this article, we will highlight five reasons why you should take pictures of your construction project.

1. Protect your company from unfair property damage claims

   Construction projects are getting bigger by the day, with claims bordering on millions of dollars. This can be as a result of natural disasters, fire, theft or vandalism. Protect your company from paying thousands for damage you did not cause by taking photographs.
   In case of any damage claims, your photos will show any prior or changed conditions. They can also describe the worksite and show the methods and equipment used.
   Documenting any signs of weakness highlights any risk factors to your team and the project. It eliminates any unfair damage claims raised by the client. As an extra measure you can insist that your client signs on time stamped photos. This prevents anyone from unfairly disputing an invoice or laying blame.

2. Document your team’s progress

   As a general contractor, your priority is to keep your client satisfied. A visual representation of progress does more than a simple report. It adds credibility to your work. Take pictures of your construction project from the start, and include timestamps.
   Always document difficulties encountered during construction. This helps explain any delays or additional requirements for your team.
   Pictures also aid in decision making, especially for clients who cannot visit the site.

3. Advertise your skills as a general contractor

   Humans are essentially visual creatures. Images are processed faster and last longer, as opposed to words on a report.
   Consider creating a portfolio for your brochures and website. Include pictures that show the building or land before construction begins. These show a changing landscape and highlight the magnitude of the work your business carried out.
   Highlight your craftsmanship by showing additional details you brought into the design. You should also single out any ‘out of the box’ solutions your team developed.
   To assist in planning
   Every general contractor understands how important planning ahead is. Pictures allow you to make an estimate of the following:

   • Project duration.
   • Materials required.
   • Quantities required.
   • Foresee obstacles

   This makes planning much more effective.

4. To enable site inspection

   Construction sites are often not very safe. Some sites require people to conduct inspections. Drone photography can be used in dangerous situations. Especially at great heights or unstable parts of the construction project.

Use photographs to protect your business

Overall, the construction industry is filled with instances of property damage. The right photographic documentation will go a long way in saving the company from potential loss. Most of all, as a general contractor, you should have your portfolio do the marketing for you. We’d like to assist your construction business keep property damage claims at bay. For this it is important to invest in Contractors Insurance, including general liability coverage. Call Contractors Liability on 866-225-1950.

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Optional Inclusions To Get You Full Coverage

Folks don’t understan Builder’s Risk policies. The coverage and what isn’t often remains unclear until there is an actual loss. Your Builder’s Risk insurance will have optional inclusions for ‘soft costs’ which can get confusing. However, in this guide we will unravel the confusion. With the right insurance provider, you can be confident in getting a policy that truly protects your business.

The Pros Of Builder’s Risk Policies

1. Coverage against all common losses: This insurance protects the structure under construction as well as the equipment in use for the project. Your transportation risks will also be reduced. Builder’s Risk policies reimburse you for any damage to materials or equipment while in transit.
2. Protection against law changes: Building codes are known to change multiple times throughout the lifetime of a project. Such changes during construction can cause delays if you are lucky, and heavy losses if you are not. A good Builder’s Risk Insurance policy will make sure that you’re not leaving it to chance, and will secure your investment.
3. No delays: A unique advantage of this coverage is that your policy requires almost no underwriting. As a result, coverage can take effect within hours of our agent giving you a quote. A quote at a price that is always the best available in the market.

The Cons Of Builder’s Risk Policies

General Liability is not covered: While these policies cover most external events, they do not provide protection against third-party claims. Losses arising from the following are NOT included:

• Damage to a commercial space
• Personal property damage
• Lawsuits related to false advertising
• Slander and libel
• Copyright infringement

Adding General Liability to your insurance plan will protect you against these losses.

No protection against Workers Compensation: Even though standard construction projects are not as dangerous as roofing projects, employee injuries are fairly common. However, your Builder’s Risk Insurance policy will not cover any workplace accidents. You may end up paying high medical costs, rehabilitation expenses, and partial lost wages while the employee is unable to work.  Adding a Workers Compensation policy to your insurance plan will give you added protection.

Experts in Builder’s Risk Policies

We have more than two decades of experience in providing Builder’s Risk policies that suit your business’s requirements. Builder’s Risk Insurance remains a catch-all policy against most construction-related risks. Its reliability and cost-efficiency is persuading more and more contractors to opt for Builder’s Risk before beginning a project. Of course, adding General Liability and Workers Comp will protect you further. Protect your business today by calling us on 888-819-1228.

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The Liability Risk Retention Act (LRRA) is a federal law that was passed by Congress in 1986 to help U.S. businesses, professionals, and municipalities obtain contractors liability insurance, which had become either unaffordable or unavailable due to the “liability crisis” in the United States.

In passing the Liability Risk Retention Act, Congress provided insurance buyers with a marketplace solution to the “liability crisis,” enabling them to have greater control of their liability insurance programs. To achieve this goal, Congress created risk retention groups (RRGs).

A risk retention group (RRG) is a liability insurance company that is owned by its members, in this case contractors. Under the Liability Risk Retention Act (LRRA), RRGs must be domiciled in a state.

Once licensed by its state of domicile, an RRG can insure members in all states. Because the LRRA is a federal law, it preempts state regulation, making it much easier for RRGs to operate nationally. As insurance companies, RRGs retain risk.

What is the benefit of a Risk Retention ?

A risk retention group is, essentially, an insurance company that is owned by its members, who in turn, retain the risk themselves. As an insurance company owned by its members, some of the key advantages offered by risk retention groups (RRGs) to their members relate to the control members obtain over their liability programs.

This control often translates into lower rates, broader coverage, effective loss control/risk management programs, participation by RRG members in favorable loss experience, access to reinsurance markets, and stability of coverage, notwithstanding insurance market cycles.

A key benefit RRGs can bring to insurance buyers is long-term stability. This allows insureds to obtain contractors liability insurance coverage at more predictable rates and terms than they can get from traditional insurers. RRG members can also gain control of their insurance programs, providing effective risk management and loss control that is often not available from traditional insurers.

Another beneficial aspect that gives RRGs an edge over traditional insurance companies is the fact that RRGs are mandated to be made up of members in the same industry.

This important aspect allows RRGs to give their insureds an insight on the particular vocation that they are representing that no one else will have. A RRG must write organizations that are of a similar type, so they are forced to really understand and serve that particular niche because that’s all they do.

When claims are handled the RRG works with the member, on the same side. RRG’s do not have that adversarial relationship that so frequently exists between policyholders and the company. It helps RRG’s to get better resolutions to claims than if there was an adversarial relationship with policyholders.

Do you need more information? Let’s talk to an expert and get insured today!

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1. Injury

This is one of the most common risks electrical contractors can be exposed to while carrying out their work. Bodily injuries can occur in different ways and under various circumstances. Due to the nature of their work, employees working for your business could sustain injury while performing their duties. These injuries could include falls off ladder or electrocution. Also, a third party could sustain injury on your property or at the place where you are executing a project. As an electrical contractor, you are highly likely to be held responsible in these cases. Without proper cover, medical expenses and legal costs could prove too much for your business.

2. Property Damage

An electrical contractor could also cause damage to a client’s property while working. For example, a falling ladder could cause damage on items inside or around a property. You may be forced to spend a lot of money trying to put things back in order. Even when you have managed to complete a project without doing any damage to a client’s property, any faulty wiring could still cause fire damage. You sure do not hope for such possibility, but it could happen. This is not even considering damage that could be done to your own property by weather conditions or other factors.

3. Equipment Breakdown and Theft

Another risk electrical contractors could encounter has to do with their tools and equipment. These could break down unexpectedly, causing work delays. In addition, some tools and equipment could be moved by thieves from where they are kept, especially when left on work site.

4. Auto Accidents

If you have vehicles you use for your business, you thus have another possible risk to deal with. These vehicles could be involved in auto crashes when you least expect them. Such accidents could lead to injuries and possibly deaths, with serious financial implications on your business. The vehicles involved could also be rendered useless by accidents.

5. Business Income Loss

You may not be able to work if your property is damaged or your tools are damaged, stolen or lost. Expectedly, you will be at the risk of business income loss during such period of work stoppage.

These risks explain the reason electrical contractors should carry insurance always.

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1. Search for several companies

It is advisable to reach out to more than one roofing company before putting pen to paper. You can search online for some companies and form a short list. Family, friends and associates could also be asked for recommendations. Whatever source you choose for developing, you can check the reputation of your potential contractor through information from Better Business Bureau (BBB) and trade associations as well as reviews in online business directories.

2. Assess the companies or contractors

Now that you have a list of companies you will probably like to do business with, you should proceed to evaluate them more closely. This will involve you paying them visits to evaluate the quality of their services. You may be interested in finding out how long a roofing company has been in business and its qualifications. Your needs should also be discussed with these companies. It is relevant to also find out how knowledgeable a company or contractor is about latest development in the industry, as regards types of products available in the market.

3. Request for Roof Inspection

You may need to get quotes and make comparison in relation to quality of service offered by the shortlisted companies. To get realistic quotes, you should request for a roof inspection to determine the extent of work to be done.

4. Ask about schedule

It is important to confirm the length of time your project will take to avoid issues later on. A definite schedule for work helps to ensure deadlines are kept without unnecessary delays.

5. Confirm insurance

You also want to a ensure your roofing contractor carries necessary insurance  before signing a contract with them. Accidents can happen in the course of a roofing project and you sure do not want to be involved in lawsuits that could result. You should confirm liability and workers compensation policies have been taken care of.

6. Fully understand your contract

A contract is a legal agreement enforceable in a law court. You should endeavor to fully understand a roofing contract for your home or small business before signing. You should retain a copy of the contract for personal reference.

If you want to know which insurance is best for you, call us or get a free quote today.

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