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Here are examples of some common insurance questions. We will update this
page frequently, so be sure to check back!
Q: What is a homeowners policy?
A: A homeowners policy protects
the dwelling, other structures, personal property, loss of use, personal liability, and medical payments to others.
Q: Are all policies alike?
A: No, there are a number of different policies and it is important to choose
the one that is right for you.
Q: What is Commercial General Liability?
A: This is typically the “core’ coverage for a business. Most
commercial general liability insurance provides coverage for a wide range of acts or offenses which result in bodily injury,
personal injury, advertising injury or property damage to a third party. The most common type of incident covered by this
policy is a “slip and fall”. Commercial general liability (often referred to as CGL or GL) insurance is generally
available as an “occurrence” policy, which provides significant advantages over a “claims made” policy.
Q: What is Umbrella Liability coverage?
A: True to its name, umbrella coverage typically provides higher liability
limits for a variety of coverages as well as potentially providing coverage for damages which may not be covered by the primary
coverages. For example, a single umbrella policy may increase the limits of coverage on a commercial general liability policy,
a business auto policy, and a directors and officers policy simultaneously. This policy engages when the limits of another
policy have been exhausted.
Q: What is Non-owned/Hired Auto Liability coverage?
A: If your employees or volunteers use their own vehicles on company business,
this coverage is very important. The purpose of this policy is to provide coverage excess of an employee’s or volunteer’s
personal auto insurance. If an employee or volunteer is involved in a collision while acting on behalf of your organization
and the limits of his or her insurance policy are exhausted, this coverage protects the organization.
Q: What is Property coverage?
A: Property coverage is purchased to protect the physical assets you
own or lease such as buildings, office equipment, furniture, fixtures, etc. There may be special types of coverage which need
to be purchased for property in transit, mobile equipment, fine arts, etc. When considering this coverage, it is important
to have a thorough inventory of all physical assets, then make sure that the property is accurately valued and that adequate
coverage limits are purchased.
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