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February 2008

Feb 01
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IMPROVE YOUR SAFETY PROGRAM BY INITIATING A SAFETY COMMITTEE

By Construction Insurance Bulletin

If employees don’t feel involved and represented in their company’s safety program, it is unlikely the program will be successful. A workplace safety committee is a tool that, if created and conducted properly, can increase the effectiveness of a safety program by:

  • Providing structure and assigning responsibility for carrying out a workplace safety program
  • Enhancing a cooperative attitude and bringing together strong interaction among various areas of an organization
  • Serving as a communication vehicle for employees to voice safety concerns
  • Serving as a tool for employers to promote safety to employees
  • Spreading the responsibility of the safety program among employees

A safety committee will only be successful, however, if it is carefully created with structure and support. As with any safety initiative, it is imperative that management be visibly and actively involved. Members should serve on the committee and attend regular meetings. Other committee members should be chosen for their enthusiasm, potential expertise, and communication skills. The committee should include representatives from all the various departments but not become so large that it becomes cumbersome and ineffective.

To ensure that the committee doesn’t become a place for employees just to voice complaints, the committee’s goals should be clear from the start. Its primary role is always to promote and ensure the success of a company’s safety program.

The specific responsibilities of the safety committee might include:

  • Develop strategic safety goals and annual action items
  • Participate in development, monitoring and updating of safety program and possible safety incentives
  • Hold monthly safety meetings
  • Hold regular workplace safety inspections and help identify workplace hazards
  • Participate in accident/incident investigations
  • Ensure maintenance of injury and work hazard records
  • Perform review of illness and injury records
  • Organize regular safety training programs
  • Consult with outside experts when necessary
  • Address employee complaints and suggestions regarding safety issues
  • Make safety recommendations to management
  • Communicate with employees and management about safety issues and goals

Every group needs a leader and a safety committee is no exception. A workplace safety coordinator should be assigned to head the group. For many companies this will not be a separate position but rather an added role to an individual’s existing position. The coordinator is responsible for leading the committee, scheduling and heading safety meetings, serving as a point-of-contact with outside agencies and retaining safety records and documents. Safety meetings should be well documented and the records should be retained for at least a couple years. Many safety committees prepare an annual report to overview the safety trends within the organization, advertise their results, and identify outstanding safety issues.

For companies beginning a new safety committee, the following first meeting agenda is a good starting point:

  • Establish the role and purpose of the committee
  • Discuss the commitment required from each member
  • Develop an agenda for what the committee hopes to achieve, both long and short term
  • Assign action items to the members of the committee
  • Take meeting notes and post the minutes as well as committee goals and action items
Feb 01
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HOLD HARMLESS CLAUSES: WHAT YOU SHOULD KNOW

By Construction Insurance Bulletin

HOLD HARMLESS CLAUSES: WHAT YOU SHOULD KNOW

By its nature, construction is a high-risk business. When a loss occurs — for example, a fire apparently started by electrical wiring — each of those involved in the project would prefer that “the other guy” pay for the loss. So-called “hold harmless clauses” in contracts are a way one party assures that the other party will pay for, or share the cost, of a loss. For the owner or general contractor, hold harmless clauses are a way to help keep insurance premiums lower by reducing risk exposure.

Hold harmless clauses tend to generate a good deal of concern and effort, as owners pressure the general contractor, who pressures subcontractors, who pressure their subs, each trying to get as much express indemnification as possible into contracts. Express indemnification secures or protects someone from legal responsibility for a loss — that is, holds him or her harmless.

There are three types of express indemnity clauses typically found in construction industry contracts — including some that can be found in the fine print on purchase orders.

A Type One (also called “broad form”) indemnity clause states that the indemnitor, the party taking responsibility for potential risk or loss, will hold the indemnitee, the protected party, harmless from the risk in question, even if the entire loss is caused by the indemnitee. An example would be if a contractor agreed to hold a project owner harmless for any claims arising from the project, even if the claim was caused solely by the owner’s negligence.

More common is the Type Two (“intermediate form”) clause, which requires the indemnitor to assume all of the risks associated with the subject, but not if the sole cause of risk is attributable to the indemnitee. Typical intermediate form language could include the contractor agreeing to hold the owner harmless from any and all claims arising from the project, provided such claim is caused in whole or in part by the negligent act or omission of the contractor and regardless of whether the claim is caused in part by the negligent act or omission of the owner.

A Type Three (“comparative fault”) clause holds the indemnitor responsible only for the loss caused by the indemnitor, or to the extent caused by the indemnitor. Typically, the contractor would agree to hold an owner harmless from any and all claims arising from the project, but only to the extent the claim was caused in whole or in part by the negligent acts or omissions of the contractor.

Some states have passed laws limiting the types of clauses that are allowed in contracts. Supporters of these limitations argue that the highly competitive nature of the business forces contractors and subcontractors to assume all the liability of a construction project, no matter who is at fault in an accident, if they want to win the bid. If an accident happens, the contractor could be forced into bankruptcy.

The law of the state where the work is performed is usually the law that applies. For example, a Detroit automobile company wrote a construction contract containing a Type Two express indemnification clause for work to be done in Delaware. When a loss occurred and the company tried to hold the contractor to the clause, the Delaware court threw the clause out entirely. Michigan recognized Type Two clauses, but they weren’t allowed in Delaware.

PERCEPTIONS VARY

Feelings about hold harmless clauses generally follow one’s position in a chain of relationships. For the owner or general contractor, hold harmless clauses are always desirable. It’s a different story with subcontractors, although they are often a condition of doing business. It might not make sense, however, to agree to a hold harmless clause with a general contractor who has the reputation of operating unsafely or with outrageous demands, such as holding the architect harmless even in the event of a loss that was solely due to the architect’s error.

Feb 01
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DOES YOUR CONSTRUCTION PROJECT REQUIRE A STORMWATER PERMIT?

By Construction Insurance Bulletin

The term “stormwater” refers to any runoff after rain or snow from a barren piece of land, an area with vegetation, or constructed areas like paved streets and rooftops. Stormwater discharges can contain pollutants in large enough quantities to contaminate a water supply. If your construction project will disturb one or more acres of land, you might need a stormwater permit. If your project will disturb less than one acre, but its part of a larger development plan that will disturb one or more acres, you might also need a stormwater permit.

However, the determination of what the appropriate compliance is for your particular construction project is far more intricate than just a “yes” or “no” answer to the above scenarios. There are four criteria, which must be met to determine a permit is needed:

  1. Will your construction project disturb one or more acres of land?
  2. Will your construction project disturb less than one acre of land but is part of a larger development plan that will disturb one or more acres?
  3. Has your construction project been designated by the National Pollutant Discharge Elimination System (NPDES) permitting authority either on the state or federal level as one that must be regulated even though it will disturb less than one acre of land?
  4. Will stormwater from your construction site flow into a separate municipal storm sewer system or a body of water within the United States?

If you answered “yes” to any of the first three questions and “yes” to the last question, then you definitely need a stormwater permit. Keep in mind that in addition to state and federal regulatory agencies, some municipalities are also required to implement stormwater control programs. You need to check with your municipality for its requirements before beginning work on the project.

Your next step is determining whether to apply on the federal or state level. If your project is located in an area requiring a federal permit, you must apply for the EPA Construction General Permit (CGP). If your location necessitates getting a state permit, then you must meet the state’s general permit requirements. You can apply for an individual state or federal permit instead of the general one; however, the individual permit process can be much longer. One of the requirements of the EPA CGP is to assess the potential affects your project will have on federally protected endangered species and on any designated critical habitat on or near your site. Although state permit requirements might vary, the EPA has established some very specific criteria:

1. Develop and implement a Stormwater Pollution Prevention Plan. It has to include:

  • A description of the site that lists sources of pollution
  • A description of methods that will be used to prevent pollutants from contaminating stormwater
  • A description of controls for stormwater flow
  • Documentation that supports that you are not in violation of the Endangered Species Act
  • Documentation that supports that you are not in violation of local Total Maximum Daily Load requirements
  • Clearly outlined roles of different operators
  • The methodology you will use to inspect your site

2. Submit a Notice of Intent (NOI) — This notice begins coverage under the general permit and includes a certification that the activity will not impact upon endangered species or historic places.

3. Submit a Notice of Termination (NOT) — You need to submit this to EPA within 30 days after one or more of the following:

  • Final stabilization has been accomplished on all portions of the site, for which the recipient of the permit is responsible
  • Another operator assumes control over the parts of the site that have not achieved final stabilization
  • The operator has obtained an individual or alternative NPDES permit
Feb 01
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EXPLORE PROCESSES TO REDUCE WORKERS COMPENSATION CLAIMS

By Business Protection Bulletin

Attributing a company’s Workers Compensation costs to an individual department encourages managers and group supervisors to pay increased attention to safety and training programs, and to monitor closely the return to work of injured employees. In some companies, as a further incentive to cut Workers Compensation costs, reimbursements from claims are deducted from departmental budgets, rather than a general fund.

By initiating simple internal processes that place responsibility for Workers Compensation expenses on individual departments, employers can take greater control of implementing preventive measures and injury management procedures, thus decreasing the frequency and severity of injuries. As a result of implementing these procedures, a company could reap substantial savings in reduced claims and Workers Compensation premiums.

Employers can meet safety goals by communicating directly with those employees who are potential Workers Compensation beneficiaries. First, a simple analysis should be performed to identify high-risk groups based on a history of injuries and claims. Bringing together employees on a departmental level to discuss the injury management process will improve communication between all parties in the working environment. Having those employees at risk discuss how a job can be performed more safely will reduce injuries. Or conversely, having employees explain how injuries can occur because of faulty equipment or incomplete work procedures will also assist the employer in modifying its safety procedures and work environment.

Too often, workplace injuries are not reported promptly. Supervisors often fail to acknowledge accidents hoping they will disappear without resulting in medical or lost-time expenses. Evidence shows that this practice can result in increased expenses because the initial injury was not reported and treated immediately.

A study of more than 53,000 permanent partial disability and temporary total disability claims indicated the following when compared with claims reported within a week of occurrence:

  • 1-2 weeks after occurrence – 18% more expensive
  • 3-4 weeks after occurrence – 30% more expensive
  • More than a month after occurrence – 45% more expensive

Sharing these sobering facts with managers and supervisors should result in timely reporting of injuries, thus reducing their department’s Workers Compensation costs, and the company’s.

When stressing safety on the job during training programs and reviewing work patterns periodically, the company will help reduce injuries within each department. Once an employee is injured, the goal of the employer and employee should be returning that employee to work as quickly as possible. Both parties should share a common desire for the most effective care, a timely recovery and a quick, safe return to the workplace.

With each department being responsible for its own Workers Compensation costs, departmental managers can be more involved in helping injured employees return to work. Rather than having the injured employee contacted by a third party — usually a claims adjuster or an attorney in some cases, which can develop into an adversarial stance — the employer’s concern and response is conveyed directly to the out-of-work employee.

Although there are a few workers who purposely defraud the system, they are very much the exception rather than the rule. Analyzing Workers Compensation costs on a departmental level makes it more difficult for malingerers to file fraudulent claims.

Although eliminating all injuries or claims is not possible, accidents do happen. It is feasible, however, that the severity and frequency of injuries can be reduced significantly by placing responsibility for maintaining a safe working environment at the departmental level and, in the long run, rewarding the department for reducing claims.

Feb 01
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KNOW WHAT’S COVERED UNDER DIRECTORS & OFFICERS (D&O) LIABILITY INSURANCE

By Business Protection Bulletin

Directors and Officers Liability insurance, or D&O, covers corporate activities. Because a corporation is legally a person, as are the directors and officers who direct it, D&O serves to protect each from liability associated with various actions and inactions.

But what happens when corporate interests differ from those of these individuals? In short, the coverage is not the same.

An indemnity policy protects the corporation, while a D&O policy covers the individual acts of directors and officers. The two types of policies can work hand-in-hand to provide complementary coverage. They can also work apart.

NO CRIMINAL ACTS COVERAGE

D&O policies do not cover criminal acts and are primarily for civil remedies, mainly damages. First and foremost, D&O policies represent the interests of the shareholders, as a group, and other corporate constituencies in directing the business and affairs of the corporation within the law.

D&O policies offer individual directors and officers the protection they need from personal liability and financial loss stemming from wrongful acts committed while acting as a corporate officer or director. Most policies also cover the liability of the corporate entity itself when the liability is from a claim involving the company’s purchase or sale of securities.

WHO’S AT RISK?

Keep in mind, all companies — those that employ one or more individuals, work with customers, clients, or even competitors — are at risk. Any perceived violation leaves both the directors and officers of the company, as well as the corporate entity itself, at risk for lawsuit and in need of applicable coverage to adequately protect the business as well as the directors and officers involved.

Employment Practices Liability (EPL) can provide additional coverage, acting like an Excess policy in an employment situation, and can also involve claims by and against management. Enhanced coverage on a standard D&O might cover EPL, but should be verified with your insurance agent.

Actions including wrongful termination or demotion, breach of contract or agreement, negligent evaluation of an employee’s performance, refusal to hire or promote someone, workplace harassment, failure to follow the company’s personnel manual and more, can fall under EPL.

Insurance experts advise protecting yourself and your business with indemnity or D&O coverage and suggest you understand exactly what your policy covers. Remember, if your D&O policy does not cover EPL, you should consider purchasing EPL coverage, or have it written into your D&O policy.

Feb 01
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ACCIDENTS CAUSED BY EMPLOYEES USING CELL PHONES: EMPLOYERS MAY BE LIABLE

By Business Protection Bulletin

Cell phones now allow employees to conduct business from nearly any conceivable location, but when that location is a vehicle moving at 60 miles per hour, a dangerous situation can occur for which employers are liable.

Cell phone distraction causes 2,600 deaths and 330,000 injuries every year in the United States according to a study in the Journal of Human Factors, a scientific, peer-reviewed publication. Employers across nearly every industry are now highly exposed to this potentially costly liability.

Huge settlements, including those in the multi-million dollar range, have been awarded to individuals who have been injured in accidents caused by drivers conducting business on their cell phones. An employer can potentially be liable even for accidents that occur during personal phone calls if a company provides a cell phone to its employees or if a cell phone is necessary or encouraged as part of their job.

LEGISLATIVE ACTION

State governments nationwide are acknowledging this danger and are reacting with new legislation. Some states prohibit talking on a cell phone while driving unless a “hands-free” device is used. Other jurisdictions are prohibiting all cell phone use while operating a moving vehicle for certain classes of drivers, such as young drivers and bus drivers.

In order to help protect the safety of employees and others on the road, and also to help mitigate a company’s exposure, employers are strongly urged to develop cell phone usage policies and conduct employee cell phone safety training programs.

Being very cautious, some companies are now requiring a “hands-free” phone, or strictly prohibiting the use of cell phones for business purposes while driving. Employers should know, however, that research including a 1997 study reported in the New England Journal of Medicine indicates that the likelihood of having an automobile accident increases four-fold when talking on a cell phone regardless of whether it is a “hands-free” phone.

Other specific safety guidelines that can be incorporated into a cell phone usage policy include:

  • Dialing only while the car is stopped
  • Not making calls while in traffic or inclement weather
  • Not having stressful conversations while driving
  • Use of speed dialing when possible.

A strong policy should list the disciplinary consequences of not following the cell phone usage guidelines.

Additional measures include equipping company-owned cell phones with a sticker warning of the dangers of driving while talking on a cell phone. Employers can also add language to their cell phone bill reimbursement forms requiring employees to certify that they did not break company policy in using their cell phone.

Although there is no guaranteed release from this new area of liability, companies with strong cell phone policies and training programs do put themselves in a much better legal position. To maximize their protection, companies need to enforce cell phone policies strictly and maintain current documentation. Such documentation should include written acknowledgement of each employee’s receipt of the policy and training, and also records of any violations and disciplinary action.

Feb 01
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GET AN EXTRA LAYER OF PROTECTION WITH UMBRELLA POLICIES

By Personal Perspective

Hopefully, you will never be served with legal papers and involved in a costly lawsuit. But in the event you are, it will be imperative that you have the insurance to cover your legal liability. That’s where a Personal Liability Umbrella policy can help.

Umbrella policies supplement the liability coverage you have through Home and Auto insurance and provide an extra layer of security by protecting your assets that might be at risk in a liability lawsuit.

If you don’t have enough liability coverage from your Homeowners and Auto policies to adequately resolve a claim, the person suing you can go after your home and your other assets to pay for damages. Umbrella policies cover damage claims that you, your dependents, or even your pets might cause.

Umbrella policies kick in after, and pay in addition to, your Auto and Homeowners insurance liability limits. The bulk of the risk is assumed under the primary Auto or Home policy, which enables insurers to offer Umbrella policies at very reasonable costs.

However, most insurance companies will not sell an Umbrella policy unless both your Auto and Homeowners insurance is with them. In addition, your insurer may stipulate that your Auto or Homeowners liability limits be at least a certain amount, such as $200,000 to $300,000. Umbrella policies are generally sold with a deductible that might run anywhere from $250 to $1,000, pocket change if you’re being sued for millions!

Umbrella policies provide much broader coverage in case you are sued, covering you if you cause bodily injury, property damage, or personal injury. Certain Umbrella policies also cover you if you face liability arising from your service on the board of a civic, charitable, or religious organization.

Umbrella policies typically do not cover claims from business endeavors. If you own a business, even a small one, you’ll need to purchase Business insurance to protect yourself from business-related liability claims.

To determine if you need an Umbrella policy, analyze your risk of being sued and the assets you have at risk. Do you have a swimming pool or trampoline that could pose a threat to visitors? Of course, you might decide that your personal situation makes lawsuits very unlikely.

Before making any decision, compare the umbrella premium with the cost of raising the liability limits on your Auto and Homeowners policies. It may work to your advantage to raise these current limits by several hundred thousand dollars, and you might come out spending less than you would on Umbrella policy premiums.

Feb 01
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WINTERIZE YOUR HOME NOW TO AVOID COLD-WEATHER PROBLEMS

By Personal Perspective

When you think of winter, do you immediately think of snow tires and protecting yourself from wet and icy roads? Most people do. But what about your home? Most people take great care winterizing their cars — tires, anti-freeze, wiper fluid, flashlights and blankets. How many give the same consideration to their houses? Poorly winterized homes can be a source of both property and liability claims unless they are brought up to par before the first snowflake falls.

Follow the winterizing hints below to make sure your coverage is adequate — just in case — and to minimize the risk of a wintertime claim:

WINTER INSURANCE CHECKLIST

  • Is your Homeowners coverage sufficient? If your house was recently upgraded, maybe not.
  • What about your vacation property? What if someone visits it in your absence and is injured? Do you have enough coverage for damage that might result while it is unattended all winter?
  • What about your snowmobile? Some very powerful snowmobiles require insurance above and beyond what most homeowners think about.
  • Taking a winter vacation that requires expensive items — jewelry for that trip to Europe, skis for Aspen? Be sure your personal property endorsements measure up.
  • What about your college student? If he or she is renting off-campus, think about Liability insurance for that dwelling also, as well as all the winter hazards that apply to the family home.

Once you’ve got your insurance needs squared away, think about minimizing wintertime hassles, and avoiding needless claims that are easily prevented.

WINTERIZING CHECKLIST FOR YOUR HOME

  • Remember your vacation home! Make sure all pipes are drained and the toilet empty so expanding ice cannot crack the porcelain.
  • Check for dirty filters in all your heating systems; clean or replace filters before turning the systems on. Make sure your units have been professionally serviced. Consider installing both smoke and carbon monoxide alarms.
  • Check your storm windows and doors before installing them. Cracked gaskets? Get them fixed. Cracked glass? Ditto.
  • Remove or cover and seal window or through-the-wall air conditioners until spring.
  • Check the sidewalk in front of your house and all walkways and handrails to make sure they are in good repair; maneuvering through winter is difficult enough without having to step gingerly on broken pavement or to remember not to grasp shaky handrails. Plus, having everything in good repair might help limit your liability in the event of a mishap.
  • Make sure your snow blower and other snow removal equipment is in working order. Line up neighborhood help to clean your walks if you are unable to clear public sidewalks as soon as snow hits. Having cleared walkways will help ensure no one is seriously injured on your property by winter weather conditions.
  • Check around windows and doors for cracks. Have a contractor repair cracks and gaps, or, if they’re small, fill them in with caulk.
  • Before the first freeze, remove leaves, acorns, sticks and debris from gutters so heavy winter rains and snow melt off can flow freely and not damage your roof or walls. While you’re at it, you might install gutter guards to keep all that garbage from getting into the gutters next year.
  • Survey your plantings. Trim trees if ice- or snow-covered branches would endanger any part of your house or cars. Consider the walkway, too, so pedestrians will not risk injury walking in front of your house during or after a storm.
  • Check the insulation in attics, basements and crawl spaces. Too much heat escaping can cause ice and snow to melt too fast to be carried away efficiently. If the melt off seeps into the roofing, it can cause damage or collapse. If the insulation in your basement or crawl space is sufficient for your climate, you can also avoid the inconvenience and damage of frozen or burst pipes. In unfinished spaces with pipes running through them, such as garages, wrap the pipes with heating tape.
  • During the winter, keep interiors at 65 degrees or more. Pipes run though the walls, which can be a lot colder than the air in the rooms. Letting indoor temperatures drop below 65 degrees could risk pipes freezing behind those walls.
  • Learn where shut-off valves are for all plumbing. Include both the valves within each room and the main valve. If your pipes do freeze, the more quickly you turn off the water, the less chance of pipes bursting.
Feb 01
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WHO NEEDS RENTER’S INSURANCE, AND HOW TO BUY IT

By Personal Perspective

If you’re renting a house or apartment, Renters insurance can be one of the best investments you ever make. No one likes to think about it, but burglars might break in while you’re away and steal your computer, entertainment system, jewelry, and other items. Without Renters insurance, you will have thousands of dollars in out-of-pocket costs to replace the stolen items. By contrast, if you have Renters insurance, you will promptly receive a check that covers either the replacement costs for the stolen items or the current value of the items — depending on what type of insurance policy you’ve bought.

Perhaps you believe there is little risk of a burglary where you live. But what about fire? Fires strike randomly and can begin in electrical wiring over which you have no control. It’s horrifying to contemplate, but you could come home to find that everything you own has been destroyed. With Renters insurance you would have a check in hand quite soon to begin refurnishing your life.

Yet another scenario for which Renters insurance can be of enormous benefit is personal liability. If a guest is injured in your home, for example, by slipping on a throw rug, you could be liable for her medical bills. Renters insurance would cover this liability.

Sometimes renters mistakenly think their possessions are covered by their landlord’s insurance. This is seldom true. Usually, the landlord’s insurance covers loss or damage to his property, not yours. Your landlord’s insurance also covers his liability in case anyone is injured on the property, though not always injuries inside your apartment.

Most renters can get comprehensive coverage for $200 or less a year, depending on where they live. Considering the risks covered by Renters policies, this is a low cost for the potential benefits.

Before talking to an agent about Renters insurance, look around your house or apartment and take an inventory of items you would need to replace in the event of a catastrophe. Take note of high value or difficult to replace items such as antiques, furs, jewelry, or expensive art. Before you get a policy or immediately thereafter, you should record information on all your high value items, including details about the make, model, serial number, age, and costs (both purchase and current replacement). It might also help to have photos of these items for identification purposes.

A basic policy usually pays only for the actual cash value of your items at the time they were lost. In other words, they would be valued not at what you paid for them originally or what it would cost to replace them, but at their actual value as used items. So a three-year-old computer would be covered for its initial cost minus depreciation. Since computers depreciate quickly, yours may be worth little by the time it’s three years old, so your insurance proceeds will be limited.

If you have expensive items like electronics that are subject to depreciation, you probably should consider Replacement Cost coverage. With this type of policy, you would be reimbursed for the current cost of buying a new equivalent item. Thus, in our example of the $2,000 computer at 3-years-old, you would receive a check that would enable you to buy a new computer. Of course, replacement cost coverage is more expensive. It’s up to you to decide which type of coverage — Actual Value or Replacement Cost — best fits your needs and budget.

Like most other insurance policies, your Renters policy will have deductibles, that is, an amount of loss you will have to absorb yourself before receiving any money from the insurance company. For example, let’s say you have a policy with a $500 deductible. You have cameras you bought for $2,000 several years ago. If you have replacement cost coverage and the cameras are lost in a fire, you would receive a check for $1,500 from the insurance company. Of course, you can lower your insurance premium by accepting a higher deductible, but this means if there is a loss, you must absorb more of it from your own pocket.

Renters insurance usually doesn’t cover damage from floods or earthquakes, but you might be able to get endorsements for these and other “acts of God.” An endorsement extends the perils covered by your policy. Obviously, you must pay an extra premium for the extra coverage.

Be sure to discuss any special high value items, such as furs, antiques, or jewelry, with your insurance agent, since you might need extra coverage for these.

As mentioned, a basic Renters policy includes liability coverage should someone be injured in your rented home or apartment. As with Auto insurance, there is a per-incident limit on this coverage, and you should make sure this is high enough to protect your assets.

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