Monthly Archives: August 2016

Team USA Sets Golden Standard For Insuring Your Valuables

Untitled designCongratulations to Michael Phelps, the “Final Five,” and all of Team USA for participating in the summer Olympics! All of these athletes have surely set the golden standard by their efforts in Rio, while also seeing to it that their medals are insured.

Have you followed their winning example?

Our blogs have previously discussed the proper way to insure an engagement ring and other valuables that you own. Now, we want to remind you that it is equally as important to review these valuables on an annual basis, as they may increase or decrease in value.

You may have a Personal Articles Floater, Inland Marine, or Scheduled Items Policy already in place. However, the potential increase or decrease in value of different items is something you will want to address with your insurance agent.

Some of these items may be:

  • Jewelry
  • Watches
  • Rings
  • Bracelets and other trinkets
  • Furs
  • Antiques
  • Musical instruments
  • Camera equipment

You can make changes and improve the coverage if you review your policy on an annual basis.

  • What items are covered under your current policy?
  • Are they covered individually, or as a group?
  • Is the coverage subject to specific exclusions or deductibles?
  • If you travel, is the coverage worldwide?
  • What would it cost to replace these valuables in today’s market?

If you want to be up to speed, much like Team USA, these are all questions to ask your insurance agent.

Certificate Of Insurance 101: What Business Owners Need to Know

contractor certificate of insurance

One of the first priorities for a new business owner is negotiating a lease with the landlord. Regardless of whether a business operates out of an office, store, or showroom, a lease agreement typically obligates a tenant to carry specific limits of insurance. Landlords often request proof before the tenant takes possession of the space. This proof is called a Certificate of Insurance.

Sometimes a landlord’s insurance requirements appear difficult to meet. Forthcoming tenants initially may not realize that the terms of a lease and its required limits of insurance can be negotiated. Most leases minimally request that the tenant carry General Liability limits of $1 million per occurrence and $2 million in the aggregate. Some leases require the tenant to provide for coverage for Improvements and Betterments made to the space.

Once a policy is bound, an agent or broker will provide the insured with documentation naming their landlord as the Certificate Holder. It is very important to understand, however, that the certificate of insurance is only a snapshot of the coverage put in place.

Frequently asked questions from those looking to obtain a Certificate of Insurance include:

  • Why all this emphasis on who, what, where, how, and when to get a certificate?
  • Who should you provide with a certificate? What should it say?
  • How do you know what should be included?
  • When can you push back on a landlord asking for unreasonable inclusions?
  • Why do landlords request the name of each officer, director, member, agent, representative, and successor that appear on a certificate of insurance?

As new business owners begin to encounter all of this and more, it’d be well worthwhile to call their insurance agent. Contact us today!

Building Our Communicative & Collaborative Skills At Our Team Building Outing

143For 12 years, Petschauer Insurance has committed to annual team building outings so that all employees have a chance to develop professionally. JP, our founder, always invested in being honest and having integrity when he related to his staff and clients. We are honoring and promoting his legacy and brand by honing our collaboration and communication skills during this outing.

Our day began with an active discussion led by Dr. Josie Palleja, our management consultant. She engaged us by asking each person to reflect on what their personal brand was. She helped us think about our values and how we act out those values.  We were each able to define our personal brand.

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She then led us in an active conversation about our coping skills. Everyone spoke about how they coped with stress, confusion, and frustrating situations.  We then wrote down what strategies we would use to manage these challenges in a positive way.  Afterwards, we were then anchored with our emotional intelligence and strategies to handle what we were going to face in the day ahead.

We made our way to Artrageous,” a studio for ceramics and painting activities. We picked out the items we wanted to work with, then coordinated the design, colors, and décor of our projects before starting. Immediately, we were presented with the challenge of having to make decisions quickly.

049At Artrageous, Dr. Josie had 2 staff members work with us.  She previously arranged with them to provide us with conflicting instructions. The first staff member gave us one set of instructions and then immediately after that, the second staff member gave us conflicting instructions. All the while, we were held to very specific and tightly timed deadlines so we could complete each individual task.  We were challenged to engage our emotional intelligence and collaboration skills so we could remain positive and focused through some frustrating and confusing experiences.

You could feel the Petschauer team really collaborating amid confusion and conflicting direction. Some in our group acted quickly and were more hands on, while others took a step back to reflect and assess the situation before responding.  070

Our communication was open, positive, and supportive while we shared creative ideas, suggestions, and offered assistance to any teammates. The clock was ticking. As we approached our time limit, we were all helping each other. Sounds of laughter and singing were in the air while everyone finished their projects. Our mosaic pieces were unique, interesting, bright and just simply fabulous!

072When we debriefed about our experiences, it was clear that the outing gave each of us at JPI an opportunity to use our emotional intelligence. Did our strategies work? When we experienced challenging situations, did we respond the way we thought we would have? Amazingly enough, each of us found we stayed true to our personal brands. We all had the opportunity to share what we learned about ourselves, how we dealt with challenges, and what kind of decision-making process we exercised.

Overall, the emotional and intellectual muscles we flexed throughout the day helped us learn that we can meet the needs of our clients by communicating in a clear, positive, and effective way.

At Petschauer Insurance, we always aim to provide our clients with the best information to help them make good decisions for themselves, their families, and/or businesses. Our goal is to build trusting relationships that will last a very long time.

Group picture outing