In the state of Minnesota, boat insurance doesn’t cover every occupant in a boat. As a matter of fact, it doesn’t even cover the spouse and children of the insurance policyholder. This has been the regulation for a long time; however, many legislators and advocates are now proposing the exclusion of this loophole. 

A report was previously made at www.minnesotanewsnetwork.com/advocates-want-plug-loophole-states-boat-insurance-law/ concerning this situation.  Last fall, a resident of Twin Cities has unfortunately gotten her foot severed on her family’s boat. In checking her husband’s boat insurance, she discovered that the boat insurance doesn’t cover her. One can only imagine the dismay, distraught, and financial peril this situation has caused in this family.  It’s also shocking how every family member could be covered in auto insurance but not boat insurance. was situation.

As a result, this lady is fighting the good fight along with advocates to change this boat insurance regulation. Even a report was made at www.fox9.com/news/new-bill-would-close-boating-insurance-loophole about this as well. Proposed bills have been made to address this issue among Minnesota’s Senate and House. So far, they’ve found out about the Watercraft Medical Payments Coverage, but even that has its limitations. Additionally, when the Insurance Federation of Minnesota was contacted concerning this type of coverage and its limitations, they responded by saying that they should contact their insurance agents. 

With this huge issue with boat insurance, it’s very important to contact reliable, dedicated, and experienced insurance agents, and that is where the Pizano Insurance Company comes into play.  Located in Wayzata, MN, this insurance company is ready to handle your boat and other insurance needs. With them, you will have peace of mind knowing that you and your loved ones are highly protected. Pizano Insurance of Wayzata, MN goes that extra mile and is always glad to assist their clients. They will do the same for you. So contact them now!

You think that you are covered for everything that can go wrong with your Wayzata, MN business because you have a little thing called liability insurance. Did you know, though, that commercial general liability (CGL) assurance is not your fix-all remedy in the business indemnity world? Here are three things you should know about commercial insurance coverage in Minnesota. An agent at Pizano Insurance can further help you make sense of the maze that is business insurance. 

1. There are three types of legal damages covered by CGL

The average general liability plan pays for compensatory, general, and punitive damages. Compensatory liabilities are those that lead to financial losses for the victim. Business owners may also need to pay for future losses in income if found liable for compensatory damages. On the other hand, general liabilities are those that typically have to do with physical pain and suffering or mental anguish. Punitive damages are classified as other expenses incurred by the victim that the guilty party must pay. 

2. Standard liability does not pay for everything

The business owner is fully responsible for costs related to sexual harassment, wrongful termination, and discrimination of persons who fall under classified categories. General liability coverage does not pay in instances where the business owner is found guilty of failing to promote a woman solely because of her gender. You, as the business owner, would have to pay for damages imposed on the victim out-of-pocket. 

3. There are other types of liability insurance

Business owners with large assets may consider investing in an additional umbrella policy that covers up to $5 million worth of lost or damaged items. It may also be ideal for companies in Wayzata, MN to invest in crime insurance, which pays for damages in the instance of a burglary. 

Whether you are searching for a basic business insurance policy or need a lot of coverage, Pizano Insurance is the right firm to choose. Call one of our friendly agents today to start your quote!