Larsen Insurance Agency

06/02/2026

Tom's Tuesday Tip:

Sunni asks:

Q: there was a small gas leak at my restaurant and subsequent grill fire, how is this covered by my businessowners insurance policy?

Cheryl asked a (sort of) similar questions:

Q: My toilet supply line broke and water poured downstairs, soaking the walls and the floors. Does homeowners insurance cover this?

A: In both cases the result of the incident is covered by your insurance. For the restaurant owner, that repair to the gas line is maintenance, so on your dime. But the resulting damage is covered by your insurance policy.

For Cheryl, very similar result - the repair to your toilet is a homeowner maintenance issue, but the resulting damage is covered by homeowners insurance.

For you homeowners, if that leak was a constant drip over time, might not be covered because it wasn't "sudden & accidental" but you let it go over time. Insurance is for those "sudden & accidental" occurrences that you could not control. A slight drip over time, you can control and there in lies the difference!

Tom

06/01/2026

05/29/2026

A story about what happens when your professional self, doesn't use professional help, when it comes to everything you've built and everything you own. Read on:

https://www.linkedin.com/pulse/how-478-savings-became-789000-problem-tom-larsen-i6eye

05/26/2026

The Hidden Gap Roswell Park Doctors Have at Home!

Read in the first comment:

05/21/2026

Now accepting donations to the newly formed 501-C-3:
www.bobbilarsenhopefund.com

05/14/2026

This is my Digital Twin, explaining NY workers compensation for a restaurant in New York State.

Discover how NY restaurants can save up to 65% on workers' comp through safety groups. Call 716-684-3203.

05/12/2026

Tom's Tuesday Tip (a 5 week Tuesday & Thursday Series):

Your Workers Compensation Premium Is Just a Down Payment!

Here's something most business owners don't realize until it's too late — the workers' comp premium you pay each month isn't the final cost of your policy. It's an estimate based on the payroll figures you provided when you bought the coverage.

At the end of your policy term, the carrier conducts an audit.(Hint, there is ALWAYS an audit!) They compare what you estimated to what you actually paid in wages. If your payroll grew, you owe more. Sometimes a lot more.
I've seen audit bills hit $15,000, $30,000, (We just had one at $94,568!) for businesses that had a great growth year and didn't update their numbers along the way.

Two things to do this week:
1) Pull your most recent payroll report and compare it to the estimate on your policy declarations
2) If there's a meaningful gap, call your broker and request a mid-term adjustment
You'll either pay a little more now or a lot more later. Same money — but one of those options doesn't blindside your cash flow.

Need worker's compensation help? DM me on here today.

05/08/2026

We put Small Business sample pricing right on our website! Look in the first comment to see what it could cost you for a small business insurance policy.

05/05/2026

You don't know how much we know until you know how much we care!

04/30/2026

You get a few quotes for roofing your house. The quotes are so far off, why?

Quote #1 - $18,500
Quote #2 - $13,400
Quote #3 - $8,700

Here is the difference:
Quote #1 most definitely has workers compensation and does all things legally required.
Quote #2 probably has worker's compensation (guessing) but the work is done by the 2 owners + workers (Owners can be excluded from comp)
Quote #3 Most definitely doesn't have workers compensation and probably pays his employees on 1099 wages not W2 wages (illegal in IRS eyes)

This is the reason for the huge difference in roofing quotes and you were wondering why the difference!

The rate for roofing workers compensation is $17.54 per $100 of payroll, which is why the uninsured's roofers go without it! Just a $67,000 payroll (one of our clients, with a Safety Group discount of 25%) pays $11,751 a year for his work comp.

Just know this information, as you get the estimates to replace your own roof this summer. Not all contractors work within the rules of employees because it costs more money to run a fully legitimate roofing business.