Business Insurance

Replacement Cost versus Actual Cash Value Insurance Coverage

"I've heard people talk about Replacement Cost and Actual Cash Value insurance coverage. But, what do these terms mean? It's all Greek to me!" Insurance is confusing, no doubt. But, we are going to try to make the insurance jargon a little clearer, one term at a time. Replacement Cost versus Actual Cash Value (ACV) First, let's [...]

My Insurance Company Is Cancelling My Insurance! Now What Do I Do?

Over the last few weeks, we have reviewed what discounts and other options may be available if your insurance costs go up. We have not yet reviewed what to do if your insurance company is cancelling your auto, home or business insurance. Especially in Oklahoma, we see a lot of clients every week with insurance policies being [...]

Work Comp Audit – What Should You Know?

What is a work comp audit and why is it required? The premium you pay for your workers comp insurance policy is based on your payroll, operations and location. Initially, when you start a new workers compensation policy, you will estimate what your payroll is going to be for that year. Then, at the end of [...]

By | 2017-04-05T20:00:08+00:00 April 6th, 2017|Business Insurance|0 Comments

Contractors and the Bonding Process

Contract Bonding Process I got a phone call a few weeks ago from Conn, the owner of Conn’s Construction Company. On that call, Conn said that he had an amazing opportunity to bid a job for the City of Storybrook. In order to do so, he needs a bond. Like many contractors, Conn doesn’t know a [...]

By | 2017-02-17T15:10:00+00:00 February 16th, 2017|Business Insurance|0 Comments

Umbrella Coverage, Why Worry About It?

In today’s economy, everyone is pinching pennies.  So why worry about umbrella coverage?  Shouldn’t a home and auto policy leave you adequately covered? Unfortunately, we live in a world of lawsuits.  Large damages can be awarded, be extremely expensive and have long-term financial impact.  Those lawsuits can come from unlikely sources, such as our furry [...]

Why You Need EPL Insurance – Real Life Stories

Why You Need EPL Insurance As a hotelier, you are open to claims from hundreds of directions. Unfortunately, it's a constant challenge to know what insurance is needed. Of course, if you have a mortgage, the bank requires you to carry coverage to protect your property and their interest. Sometimes, franchise requirements require you to purchase [...]

By | 2017-05-08T14:08:22+00:00 May 19th, 2016|Business Insurance|0 Comments

Providing Past the Premium: Education

Recently we began a blog series called Providing Past the Premium. We spoke briefly about Service. When looking at insurance protection the way you are serviced should play a huge part in the company/agency you choose to do business with. Are you treated respectfully, professionally? Like a priority? Are you walked through the protection outline [...]

Providing past the premium: Service

Not long ago a question was asked of our staff, "What makes RCI Insurance different from other insurance agencies?". Granted, many of our people on staff had differing responses, but one kept echoing, "The way we service our clients." Providing past the premium is a huge effort we make everyday at RCI Insurance Group and [...]

Circle of Trust: Hospitality/Hotel eNewsletter

The February 2016 Edition of the Circle of Trust: Hospitality/Hotel eNewsletter. Filled with articles and news about the Hospitality/Hotel industry. News for you and information you can use: How can a Risk Management Program help to lower your insurance costs? Be prepared and know what to expect in the event of a Worker's Comp Audit [...]

Why Business Owners Need Terrorism Insurance

Terrorists attack a power plant that supplies electricity to a data center. The center houses numerous servers hosting hundreds of Web sites. A small business's site goes down, shutting off 80 percent of its revenue flow. Terrorists open fire at a shopping mall. The authorities close it for several days while they investigate the crime [...]

By | 2016-11-08T23:53:02+00:00 January 27th, 2016|Business Insurance|0 Comments