In this episode, Nick Thompson, JD, Director of Legal and Operational Strategy at The Accel Group, joins host Corey Rekers, President of Property & Casualty Insurance, to discuss the complexities of buying insurance. He's discussing everything from 'gotchas' in a policy to the role of risk transfer to coverages you should consider. Through real-life examples, he illustrates the potential pitfalls in the insurance buying process and offers insights on how to strategically manage insurance budgets. Buckle up - you'll likely hear some new terms today, but Nick's here to explain them in a way that's easy to understand. That's the Accel Advantage! Thanks for listening.Check out our websites: ⁠⁠acceladvantage.com⁠⁠ & ⁠⁠accelwealthmanagement.com⁠⁠Follow us on social media for more tips, tricks, and fun!The Accel Group:⁠⁠Facebook⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠Instagram⁠⁠Accel Wealth Management:⁠⁠Facebook⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠Instagram⁠Chapters00:00 Introduction to Nick & a Lawyer’s Perspective on Risk02:40 The Importance of Education in Insurance Buying04:41 Understanding Risk Transfer in Contracts07:36 Additional Insured Endorsement09:13 Lawsuits and Claims09:48 Waivers of Subrogation: Protecting Your Business13:02 The Benefits of a Knowledgeable Broker14:14 Strategic Insurance Tips for Business Owners16:40 Liability Coverage18:29 Personal Insurance20:38 Considering Uninsured Motorist Coverage22:35 The Value of Independent Agents in Insurance23:10 ConclusionKeywords: insurance, risk management, business insurance, legal, insurance policies, claims, insurance agents, risk transfer, personal insurance

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