Protecting Your Business from Theft of Tools with Frederick Mutual Insurance

As a contractor, managing the risk of theft of tools is crucial. With contractor tools being ticket commodities and essential for executing jobs efficiently, protecting your tools is critical to keeping your business running smoothly. Here’s how partnering with Frederick Mutual Insurance can help protect your business’ tools.

Why Tool Theft Effects Contractors and Subcontractors

Construction tool theft is common as valuable tools can often be left on jobsites. The loss of these tools can increase expenses and lead to delays in projects. Without proper security measures, the time and money it takes to replace your tools and reconvene the project can affect your company’s performance, profitability, and reputation. 

Why Choose Frederick Mutual Insurance for Contractor Insurance

Frederick Mutual Insurance understands the risks contractors face and provides comprehensive, customized coverage for theft of tool claims. By partnering with us, you can safeguard your business from the financial impact of theft of tools claims, allowing you to focus on your work with peace of mind. Learn more about our comprehensive coverage options for your contracting business online at Artisan Contractors Insurance — Frederick Mutual Insurance Company. Our agents are ready to help find the best coverage for you. 

Hurricane Season has Arrived!

NOAA’s outlook for the 2025 Atlantic hurricane season, which spans from June 1 to November 30, forecasts a range of 13 to 19 total named storms. Properly prepare for this year’s hurricane season with the tips below:

🌧️ Know your area’s risk of hurricanes.
🌧️ Sign up for your community’s warning system.
🌧️ If you are at risk for flash flooding, watch for warning signs such as heavy rain.
🌧️ Know where your county’s safe shelter is located. Based on your location and community plans, make your own plans for evacuation or sheltering in place.
🌧️ Become familiar with your evacuation zone, the evacuation route, and shelter locations.
🌧️ Gather needed supplies for at least three days.
🌧️ Keep in mind each person’s specific needs, including medication.
🌧️ Don’t forget the needs of pets!

Visit NOAA for more information. https://lnkd.in/gQDm4_Mw

Safeguarding your Sales this Valentine’s Shopping Season

Insurance Tips for Retail Owners

In 2024, roughly $1.2 trillion were made in online sales in the United States, according to FTI Consulting Group’s 2024 Online Retail Report. This represents a 9.8% increase from 2023. This Valentine’s Day, as more consumers shop for their loved ones from online stores and storefronts, it’s crucial to know which coverages your retail business may need.
Key coverages for your online or storefront shop include:

✔️ Property insurance to protect your goods in case of physical damage
✔️ Product Liability to make sure your product performs as you promised to your customer and/or covers you in case your product causes a consumer bodily harm or damages their property
✔️ Cyber insurance which can protect your business in case online accounts are compromised.
✔️ Theft coverage, especially if your shop includes jewelry sales!
✔️ Liability insurance for potential slip and falls or onsite injuries
✔️ Product Off Premises coverage in case you are doing a pop-up shop or moving your product to a different location

Contact your insurance agent to see if you have these coverages in place and review Frederick Mutual’s coverage for retail owners here! https://lnkd.in/eMcyyNXF


Prevent Frozen Pipes!

Winter storms and below freezing temperatures are hitting the Mid-Atlantic this week. Protect your businesses, buildings, and residences from losses associated with frozen pipes by heeding the prevention tips below!

Frozen Pipe prevention Tips

  • Disconnect all outside hoses, shut off and drain outside faucets

  • Inspect and insulate pipes in unheated areas such as crawlspaces and attics

  • Open cabinet doors where water and drainpipes are located to allow heat to circulate

  • Let faucets drip slightly to allow water to flow through the system

Winter Weather Tips!

With winter weather hitting the Mid-Atlantic region this time of year in the form of snowfall, sleet, and/or freezing rain we encourage businessowners to heed the following tips to protect your property and building(s). We also encourage you to track the progression of the winter weather for your area at https://www.weather.gov/ to be prepared to protect your assets!

Winter Safety Recommendations:

  • Park commercial vehicles in garage or underneath a carport

  • Disconnect all outside hoses, shut off and drain outside faucets

  • Perform routine HVAC maintenance to confirm heat is in working order

  • Inspect and insulate pipes in unheated areas such as crawlspaces and attics

  • Confirm heat is being maintained in vacant spaces

  • Open cabinet doors where water and drainpipes are located to allow heat to circulate

  • Let faucets drip slightly to allow water to flow through the system

  • Inspect exterior of buildings and seal any openings where outside air could enter the building

  • Secure outdoor objects indoors

October is National Cybersecurity Awareness Month!

Every type of small business, regardless of industry, needs to be aware of the dangers of cybersecurity threats. Cybercriminals are constantly modifying their techniques, which means it’s more important than ever to have a cybersecurity plan and coverage.  

If you are a small business, you might think cybercriminals would rather target a larger company. This is far from true. In fact, three-quarters (73%) of US small business owners reported a cyber-attack last year, with employee and customer data most likely to be targeted in data breaches, according to the Identity Theft Resource Center (ITRC). 

To protect small business owners from cyber losses, Frederick Mutual offers Cyber Suite Insurance through our partners at The Hartford Steam Boiler (“HSB”). HSB Cyber Suite is a comprehensive cyber insurance program designed to provide protection from a wide range of cyber risks for small to mid-sized enterprises. HSB has extensive experience and expertise in cyber risk and HSB Cyber Suite coverages are designed to keep pace with the evolving cyber risk landscape.  To learn more about the CyberSuite product offering that is keeping pace with the cyber industry please visit www.frederickmutual.com/cybersuite-insurance.  

“It’s Like a Heat Wave”

The Mid-Atlantic region has been facing a massive heat wave. Not only does this affect us on a personal level but the impact on businesses can also be dire.

According to a Harvard Business Review report titled: “Protecting Your Workforce from Extreme Heat” by Talia Varley, the effects of rising heat levels bear more consequences than just rising cooling costs. Heat can create significant health risks for work personnel and major losses in productivity. In fact, the article cites, “Two percent of total working hours are projected to be lost each year due to heat stress at work, representing more than $4 trillion annually by 2030.” Having processes in place to protect your companies’ workers and subsequent productivity is critical during this time.

Frederick Mutual offers the following suggestions for mitigating the effects of heat waves for your business:

  • Routinely check HVAC systems prior to cooling problems at your business to keep your indoor workers cool.

  • For workers who are predominantly outside, consider updating your operational hours to early morning or evening to avoid any health risks that may be incurred from working in extreme heat.

  • Heat can lead to more accidents on jobsites, businesses should implement weekly safety and productivity plans to deter accidents and to keep your employees safe.

  • Keep HVAC system at 78 degrees for maximal output.

  • Consider adding Equipment Breakdown insurance prior to a heat wave to protect HVAC systems.

To read more about protecting your workforce please visit: Protecting Your Workforce from Extreme Heat (hbr.org)

MEMORIAL DAY SAFETY TIPS!

This Memorial Day we honor the men and women who gave the ultimate sacrifice for our country. May their courage and dedication never be forgotten.

By following the safety tips below you can create a secure environment and enjoy peace of mind for your Memorial Day weekend.

  1. Children and pets should be several feet away from an open flame

  2. Grills should only be outside, but not under a covered porch or in an open garage. Grills should not be set against your house, deck, or fence

  3. Once on, a lit grill should never be left unattended

  4. Keep a fire extinguisher onsite and nearby when grilling is underway

  5. Clear any dry leaves or brush near the grilling site to reduce the risk of fire coming in contact with flammable debris if wind-blown sparks occur

  6. Secure loose fitted clothing when leaning over an open grilling area

Cyber Attacks and Small Business Insurance

Every type of small business, regardless of industry, needs to be aware of the dangers of cybersecurity threats. Cybercriminals are constantly modifying their techniques, which means it’s more important than ever to have a cybersecurity plan and coverage.

 

If you’re a small business, you might think cybercriminals would rather target a larger company. This is far from true. In fact, nearly three-quarters (73%) of US small business owners reported a cyber-attack last year, with employee and customer data most likely to be targeted in data breaches, according to the Identity Theft Resource Center (ITRC).

 

To protect small business owners from cyber losses, Frederick Mutual offers Cyber Suite Insurance through our partners at The Hartford Steam Boiler (“HSB”). HSB Cyber Suite is a comprehensive cyber insurance program designed to provide protection from a wide range of cyber risks for small to mid-sized enterprises. HSB has extensive experience and expertise in cyber risk and HSB Cyber Suite coverages are designed to keep pace with the evolving cyber risk landscape.  To learn more about the CyberSuite product offering that is keeping pace with the cyber industry please visit www.frederickmutual.com/cybersuite-insurance.

 

To read the articles mentioned above please visit:

 1 Small Businesses Suffer Record Number of Cyber-Attacks

Contractor Tool Theft Tips

Frederick Mutual insures thousands of artisan contractors as part of Frederick Mutual Secure BOP® program. According to a Milwaukee Tools article, power tools are the most stolen items from a jobsite and a report conducted by the National Equipment Register and National Insurance Crime Bureau found that “construction companies face losses between $300 million and $1 billion annually due to equipment theft.” The report also discusses the expenses of project downtime and time spent filing a claim/report to their insurance company and police department can have significant impacts on productivity in addition the value of the materials that were stolen. Frederick Mutual wants our contractors to avoid these pitfalls and offers the following solutions recommended by https://lnkd.in/eNgEDM8:

Business Risk Protection

Since 2022 Frederick Mutual has provided businessowners Business Risk Protection (BRP) – an online service that provides businessowners vital contracts and agreements for their business to become compliant and reduce risk. Services include construction agreements, subcontractor agreements, consultancy agreements, NDAs, invoices, event related documents and leases. To learn more about our valuable service visit www.frederickmutal.com/business-risk-protection and watch the video below!

Keeping Habitational Risks Healthy

To ensure that Apartment, Condominium, and Townhome policyholders remain adequately protected, particularly in a hard market, it is critical to ensure property values and pricing are adequate. Conducting regular property inspections, maintaining current tenant contracts and lease agreements; as well as reinforcing the following tips to our respective insureds to promote business continuity:

  • Require all tenants to submit their tenant policies annually and conduct routine audits to ensure policies are current.

  • Make sure there are strict rules in place to limit grilling, smoking, candles, and incense.

  • Make sure property managers/landlords are educating and reminding tenants about the importance of being always present when the oven and stove are in use.

  • Have a policy that forbids unregistered or abandoned vehicles or vehicles in disrepair on the property.

  • Have a policy that forbids the tenants from operating certain types of businesses (e.g., welding) on the premises.

  • Make sure properties are inspected and maintained regularly to reduce any potential. maintenance issues relating to roofing, electrical, plumbing, HVAC, sprinklers, elevators, etc.

  • Reduce and preferably eliminate vacancies.

  • Building exteriors should be routinely painted and power washed to limit the growth of mold and mildew.

  • Trim trees and landscape so that the trees do not touch the building.

  • Unhealthy trees should be removed so they do not fall into the building or neighboring properties.

  • Interior building temperatures should be maintained at levels such that pipes will not freeze in the winter.

  • Ensure the premises are inspected and repairs are made to any uneven surfaces to eliminate tripping hazards, as well as for stairs that do not meet local building codes.

  • Properties should be selected that demonstrate pride of ownership.

 In addition, Frederick Mutual provides Business Risk Protection by epoq. This service provides property owners and landlords with vital contract and agreement templates for their business needs to become compliant and reduce risk. With BRP, habitational owners can create lease agreements, contracts, and deposit notices that can be easily shared with their client through the software database.

To learn more about Frederick Mutual’s successful habitational program please contact slprice@frederickmutual.com or to learn more about Business Risk Protection please read here.

Tips for Landlords!

As a landlord, it is vital to protect your property with landlord's insurance. For years Frederick Mutual has been insuring landlords and their properties. Our landlord coverage now includes Business Risk Protection which provides lease templates you can use for your renters! Check out our top tips for Landlord's in the video below.

Hurricane Season: Safety and Preparation Tips!

The 2023 Hurricane Season is almost upon us! The official Atlantic hurricane season begins June 1st through November 30th, but in recent years significant storms have hit the East Coast before and after the official season. According to predictions released by The Weather Company and Atmospheric G2, the 2023 hurricane season is predicted to have 15 named storms, 7 of which could become hurricanes, and 3 of those predicted to become major hurricanes. Prepare this hurricane season with the tips below from Frederick Mutual. 

Spring Winds - How to Protect Your Home

With a windy start to March and wind being one of the most destructive forces in nature, even moderate storm gusts may cause damage to your property and belongings. In anticipation of strong Spring winds Frederick Mutual wants to remind you of tips to keep wind from damaging your home.  

Wind Damage Prevention:

  • Make sure roofs are properly inspected and maintained.

  • Move patio furniture, children's toys, and potted planters inside a shed or garage.

  • Secure gutters and downspouts around the home.

  • Hire a professional to cut or trim loose tree branches.

  • Caulk siding and windows to prevent strong drafts.

  • Close and bolt-lock exterior doors, shed doors and other detached structure doors.

  • For commercial properties, be sure to secure or anchor overhead and dumpster doors, outdoor lighting, and signs as well as inventory, equipment, or supplies.  

  • Park vehicles away from trees or large branches. 

  • Close and lock windows.

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5280 Corporate Drive, Suite A270, Frederick, MD 21703.  

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