Day: February 5, 2014

Don’t Wait until a Fire Ignites on Your Construction Site to Start Fighting Fire

Posted on by shasha insurance

The wildfires experienced by Californians over the recent years are just one of the many examples we see when it comes to just how threatening and damaging fire can be. Since job site fires pose a constant threat to construction projects, contractors should prepare for a potential fire by periodically confirming that their risk management plans adequately address the issue.

Don’t wait until you actually have a fire on-site to start your fight against fire. The following tips have been recommended by the International Marine Underwriters Association to help keep construction sites free from the threat of fire:

1. No smoking – have and enforce a no smoking policy on the construction site.

2. Loss control plan – the written loss control plan should comprehensively address the risks of fire exposure and include specific objectives to be enforced by management on the job site, general safety measures, and a named person to be in charge of on-site safety coordination.

3. Inspections and logs – project managers should do daily on-site inspections of all materials and equipment, the work area, and any other nearby location with potential hazards. A running log should be kept of these daily inspections.

4. Hot works – cutting, brazing, welding, and other hot works operations should have a person designated to observe the working area, as well as areas adjacent to it. The person should maintain a line of sight and watch combustible products, sparks, and slag. The surrounding areas should be inspected for a minimum of 30 minutes after the hot works operation ceases.

5. Portable heating equipment – place all portable heating equipment on non-combustive platforms or flooring. Use recognized standards and/or the manufacturer’s specifications for ensuring the appropriate maintenance, fueling, and clearance.

6. Enclosures – construct temporary enclosures with designated paths for transporting materials. For the best results, only construct the temporary enclosure with non-combustible approved materials and locate it away from overhead exposures.

7. Flammable materials – the labeling and identification requirements of gas and flammable liquid containers should be reviewed carefully before they’re brought on the construction site. Make sure that safe storage areas for flammables have been clearly designated and that the area includes surrounding barriers and signs.

8. Firefighting equipment – keep firefighting equipment on-site and easily available at all times. The project manager should ensure that there is always a reliable water supply available for the equipment to connect to and that the equipment will adapt to local fire department equipment if necessary.

9. Rooftops – roof vents should be adequately cleaned to decrease sources of ignition like lint. Additionally, a minimum of one portable fire extinguisher should be located at-level during rooftop operations. Make sure the extinguisher has sufficient capacity for the fire risk.

Insurance Mistakes That Will Cause You to Lose Money

Posted on by shasha insurance

Fear is an important motivator when it comes to buying insurance. We worry about what will happen to assets like cars or homes if they are involved in a disaster, so we buy insurance to help us maintain their financial integrity if something should happen.

But in spite of the fact that insurance is designed for this purpose, sometimes it can’t give us the outcome we expect. That’s not because of something inherently wrong with the policy, but rather it is the result of human failure. When you bought your policy, you failed to take into consideration the level of coverage you really needed, and what you have isn’t sufficient to restore your assets to pre-disaster condition.

That’s just one of the most common insurance mistakes that could end up costing you.

Here are some others:

·   Thinking you’re saving money because you bought the cheapest policy you could find – Initially those low premiums will seem like a savings; but if the cost of an accident ends up being more than your policy coverage limits, the rest of the expense will be out-of-pocket. In addition, the other parties involved could sue you, and if you don’t have any coverage, you could end up losing a large part of your assets.

·   Failing to pay your premiums on time, or not at all – There could be a legitimate instance in which you don’t pay on time. However, when you don’t pay, your insurance company isn’t required to cover you. To avoid a disruption in coverage, set up automatic payments through your bank or insurer.

·   Making assumptions about what is covered – There are limitations to the coverage a homeowner’s or auto policy will provide for high-ticket items. You should never assume that all of your possessions are covered. What you can do is add extra coverage to your policy with an endorsement, which gives you higher limits on these types of items.

·   Overlooking the importance of umbrella liability policies – These policies got their name because they protect you from a financial downpour. They can be purchased separately or you can obtain one from the same company that insures your car or home. Buying from the insurer you already have usually entitles you to a premium discount on the liability coverage. Umbrella policies are usually sold in increments of a million dollars. Generally you would pay between $100 to $300 a year for the first million dollars worth of coverage and another $50 to $100 for each additional million. Keep in mind that when determining your premium, your insurer may take into consideration such factors as the number of traffic tickets you’ve received over the past few years, and your credit report.

·   Failing to inform your insurance agent about changes that could affect your coverage needs – If you’ve added on to your home, or purchased an expensive sound system, you need to contact your agent to see if the policy you have still meets your needs. Your agent can also find ways to help you save money on premiums that won’t affect the quality of your coverage such as enrolling in a driver safety class, installing a home security system, increasing your deductible, or taking advantage of multi-policy or good student discounts.