Worker injury and illness will certainly impact your bottom line and your business' productivity. You might have wondered what steps you can take to mitigate that risk and expense. One of the most powerful changes you can make is to implement a workplace safety program. With an effective program in place, absence due to work-related injuries and illness can be avoided. In fact, you could see a decrease your workers compensation risk and expense at the same time. This is especially true since a large part of your premium for workers comp insurance depends upon the frequency of claims.

First and foremost, your safety program should be compliant with the Occupational Safety & Health Act.  In fact, OSHA can provide information as well as consultation and/or training if needed. Compliance with OSHA is important for many reasons, including the impact it will have on your Workers Compensation insurance.  Typically, insurance carriers will want to know how complete, comprehensive and effective your workplace safety program is when deciding on your insurance coverage.

Each company’s safety program will look different, but all will usually include safety procedures as well as written guidelines for employees’ reference. A good plan will name Safety Manager located in-house with the responsibility to carry out the program by coordinating safety inspections, providing orientation for new employees and training existing employees as well as motivate the workforce to avoid unsafe practices.

Of course, accidents can occur even though an effective workplace safety program is in place. Therefore, your program should include procedures for on-site first aid care. Moreover, a well-designed program will address the return-to-work protocol to follow after an employee has required absence from work because of work-related illness or injury.

Here at the Daniel C. Howley Insurance Agency in Rockville, MD, we are available to answer your questions regarding workers compensation and to discuss any other business or personal insurance needs. Please contact us at your convenience for more information.

Already have workers compensation insurance? Why not request a no-obligation policy review to be sure that your rates and premiums are the best for your needs?

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Request a Quick Quote for Workers Comp coverage.

If you’re shopping for a new car or SUV, you now have one more good reason to consider a hybrid. Hybrids, which allow you both traditional gasoline power as well as electric power, have been shown to better shield their occupants from injuries in crashes than their conventional counterparts that only use gasoline engines. This is according to research done by the Highway Loss Data Institute (HLDI), an affiliate of the Insurance Institute for Highway Safety (IIHS) on more than 25 hybrid-conventional vehicle pairs.

The study showed that there is approximately a 25% lower chance of injury in a crash when traveling in a hybrid than in its conventional twin. All other things being equal, it is weight that makes the difference since hybrids are about ten percent heavier.

In the past, cars were made smaller and lighter to get better fuel economy; but in doing so, they were at risk for greater damage in a crash and therefore greater potential for occupant injury.

The new HLDI findings are welcome news among green-minded car shoppers who no longer have to choose between safety and fuel economy.  Moreover, the less the chance of injuries in a crash the better the likelihood of lower insurance rates – another reason for considering these safer hybrid vehicles.

• View this video for more information: Hybrid vehicle models have lower injury risk
• Find out more about Crash Testing by the IIHS
• Learn more about Auto Insurance

Occasionally, when we speak to people about life insurance, they say that they don’t really think they need it. In fact, in some cases, they might be correct. That would be the case if they actually have the financial resources allocated to meet the long term as well as the short term needs of their loved ones who would survive them.

However, when we follow-up with the question, “If you were to die today, are there people who depend upon you and who would suffer financially as a result of your death?” they will almost always reply by saying something between “absolutely” and “possibly”. For those that tell us they still believe their family would be okay without life insurance, we say that may be true. The problem is that we don’t get a do-over on this one.

Take a look at the Brinja Carter story (courtesy of Life Foundation’s Life Lessons).

We need to make a decision about life insurance while we can still do something about it.

How about you? Do you know whether or not you need life insurance? Here is a simple way to judge that.

1. Estimate how much your family members would need to meet their financial obligations after you’re gone. Be sure to include expenses that will come up immediately (medical bills, funeral expenses, regular debts, etc.), funds for your family’s everyday expenses for a specific time period (housing, food, transportation, utilities and the rest) as well as savings for future expenses (like college and retirement).
2. Now, figure out your family’s income from all sources except, of course, your salary and benefits which will now end.
3. Then, if you subtract your family’s income from what they need to meet their obligations, the difference is the amount by which your family will fall short after you’re gone. It is the amount that life insurance should cover. If it is less than zero, then there is no gap for life insurance to cover – that is, assuming that the economy does not take another downturn, that your family does not experience unforeseen difficulties or losses, that nothing else goes wrong.

That sounds easy enough to calculate, doesn’t it? But did you really include everything? Did you remember the taxes and estate settlement costs that your family will incur? Did you remember funds to cover ongoing health care and insurance bills?

If you are uncertain about your need for life insurance or you are wondering if your current policy is sufficient, then perhaps it’s time to seek out the help of a professional.

Here at Daniel C. Howley Insurance Agency in Rockville, MD, we have helped many people analyze their financial needs and plan for a secure future. We would be glad to do the same for you.

• Contact our office to discuss your life insurance questions and needs. 
• Request a Life Insurance Quote.
• Arrange for a no-obligation Policy Review.
   

Dοеѕ vehicle size impact auto insurance rates? Of course it does and for several reasons.

With fuel economy being a huge concern in this day of ever rising gas prices, smaller and more fuel-efficient vehicles are very popular. In fact, the U.S. Environmental Protection Agency (EPA) notes that you can save as much as $1,400 in fuel costs each year by choosing the most efficient vehicle  that meets your needs. Typically, these vehicles that highlight economy are “family cars” with smaller engines. These models are not deemed high-performance, don’t move as quickly as their flashy, sporty counterparts and are much less likely to be involved in moving violations. Thus, they tend to provide the benefit of lower insurance rates.

Many of these automobiles with smaller frames marketed for “family use” emphasize safety features. New models will likely have standard left and right front air bags, side air bags, lap-and-shoulder belts in all outboard seating positions, and child safety seat top-tether and lower LATCH attachments in the rear seats. Consumer Reports indicates that contemporary safety-oriented designs and equipment may offer the smaller auto an advantage in avoiding an accident. Often, this means consumers might expect lower auto insurance rates.

Auto theft is also a consideration. Although the National Insurance Crime Bureau (NICB) reports that the 1994 Honda Accord, 1995 Honda Civic and 1991 Toyota Camry are the top three most-stolen cars in recent years, the bulk of vehicles reporting the most thefts are the larger and more expensive SUVs and pickup trucks. These three models aside, smaller “family” cars are usually less desirable targets for thieves. This could translate into further insurance savings for their owners.

So we can see that, when it comes to automobile efficiency and economy, size dοеѕ matter. Smaller cars are often less likely to be stolen, safer to operate, more economical to fuel and maintain, often easier on the environment and could offer a considerable break in insurance costs.

If you are in the market for a new car or just wondering how your car measures up when it comes to insurance rates, a brief meeting with your local insurance agent will give you the facts that you need.

Here at Daniel C. Howley Insurance Agency in Rockville, MD, we have the expertise to help you to have the best insurance coverage at the best rate for your particular budget and needs. Why not contact us today?

Request an Auto Insurance Quote

Arrange a no-obligation insurance policy review

See the EPA’s Green Vehicle Guide