Patti Maluchnik, CIC, CBIA Georgetown Insurance Service, Inc. Frederick, MD In the construction industry, Owner-Controlled Insurance Programs (OCIPs) and Contractor-Controlled Insurance Programs (CCIPs) – also commonly referred to as “Wrap-Up” or “Wrapped” insurance plans – have caused increasing confusion in recent years. The concept of these programs involves the project owner (OCIP) or prime … Continue reading A Closer Look at OCIP and CCIP Insurance
Are you thinking of renovating an old kitchen, installing a hot tub or building an in-law suite? While it might seem enticing and budget-friendly to DIY or hire an (unlicensed) friend to help with these projects, when it comes to home maintenance, the cheapest routes are usually not the safest. Many people don’t understand the … Continue reading Insurance Tip: Why It’s Critical for Your Contractors and Vendors to Be Licensed & Insured
Everyone’s always looking to save money on their car insurance. Although having collision coverage isn’t required by law, if you have a car loan or are leasing a vehicle, your lending institution will likely require both collision and comprehensive coverage. But what if you have older vehicle(s) that are fully paid off? Collision insurance coverage … Continue reading Insurance Tip: Have an Older Vehicle? You Could Save Money by Dropping Collision
By Joseph Lalla, Account Executive Georgetown Insurance Service, Inc. Silver Spring, MD Your fleet of vehicles is a critical component of your business. And for some companies, their fleet is the heart of their business. Fleet management systems can help you keep track of and manage commercial vehicles such as cars, trucks, vans, heavy … Continue reading Benefits of Fleet Management Systems
By Remmie Butchko, CIC Georgetown Insurance Service, Inc. Silver Spring, MD There is often confusion over Property Insurance losses that involve water damage. For many property owners, flood damage and water damage get lumped into the same bucket. Basically, “my stuff got drenched and now it is a mess (or even destroyed).” But in … Continue reading Insurance Coverage: Water Damage v. Flood Damage
Remmie Butchko, CIC Georgetown Insurance Service, Inc. Silver Spring, MD When it comes to building an effective business insurance program, a very important consideration is the determination of Business Interruption (BI) Insurance, also commonly known as Business Income and Extra Expense Coverage. Determining an adequate limit of insurance for BI is exceptionally challenging because … Continue reading Business Interruption Insurance – Common Considerations & Oversights
Accidents happen. And if you’ve never been in one, consider yourself lucky. In fact, the average American driver can expect to be in three or four accidents in their lifetime – and that’s just as likely to happen while driving a company vehicle as it is driving your family car. In general, companies are usually … Continue reading Crash the company car? Here are 5 steps to take if you’re involved in a commercial/business vehicle accident.
By Tim Pyle, Associate Georgetown Insurance Service, Inc. Silver Spring, MD Describe your job. What do you do? I’m an associate at Georgetown Insurance Service and have been with the agency since December 2018. My job is to analyze insurance policies for business owners and ensure they have the proper coverage they need. Or, … Continue reading Life at Georgetown – Tim Pyle