small business insurance quotes
The maximum dollar amount that can be paid under a policy during a one-year period.
Insurance against loss or damage to property from any causes, except those that
are specifically excluded.
An acknowledgement that insurance applied for is in force whether or not premium
has been paid or the policy issued.
Covers business property under a single-dollar amount of coverage as opposed to
insuring each item separately, i.e., "Electronic Equipment and Media" blanket coverage.
Protection against the liability that may arise from the injury or death of another
person. Written in conjunction with Property Damage Liability Insurance.
A type of policy that pays for loss of earnings when operations are curtailed or
suspended because of a covered property loss.
Furniture, fixtures, equipment, machinery, merchandise, materials and all other
property (excluding real estate) owned by you and used in your business.
The insurance company that issues the policy and provides coverage.
A statement summarizing the types of coverage, amounts of coverage, and policy effective
dates; it indicates that the certificate holder (usually your client) will be notified
if a policy cancels.
The demand for benefits as provided by the policy.
A policy providing coverage only if a claim is made during the policy period. If
the policy has a retroactive date, it does not cover a loss that occurred before
that date. Contrast with Occurrence Coverage.
Loss of revenue or productivity suffered by your customer due to your alleged failure
to deliver services as promised.
The date on which a policy goes into effect.
Specialized type of insurance designed to cover your computer equipment, data systems,
information storage media, and expenses or income loss related to the destruction
of hardware or software.
Protection against allegations of employee theft of tangible or intangible property
from a client. Coverage should be provided on your premises and at the customer's
Liability the employer is exposed to when an employee uses his own personal vehicle
on company business.
Protection against claims that you or your employee made mistakes through error
or oversight that caused a loss of productivity or loss of revenue on the part of
Causes of loss, conditions, or property listed in the policy that are not covered.
The date on which a policy will cease to provide coverage, unless previously canceled.
A period that allows claims to be made after the expiration of a "Claims-Made" policy.
Insurance that provides extra funds needed to continue operating a business without
interruption following a property loss.
Circumstance that is beyond the control of one of the parties to a contract that
may, according to the terms and conditions, relieve that party of liability for
failing to execute the contract. i.e. Act of God.
Liability the employer is exposed to when a vehicle is rented in the company name.
The maximum dollar amount the insurance company agrees to pay for any single loss.
Failure to use the degree of care that an ordinary person of reasonable prudence
would use under the given circumstances. Negligence may be constituted by acts of
either omission or commission, or both.
A policy that provides coverage only for injury or loss that occurs during the policy
period, regardless of when the claim is made. For example, a claim made in the current
policy year could be charged against a prior policy, or may not be covered, if it
arises from an event that occurred prior to the policy effective date. Contrast
with Claims-Made Coverage.
Multiple lines or types of insurance under one policy.
Liability insurance to protect professionals for loss or expense resulting from
claims of mistakes, errors or omissions committed - or alleged to have been committed
- by the insured in his or her professional activities.
Protection against liability for damage to the property of another not in the insured's
care, custody or control. Property damage liability coverage is written in conjunction
with Bodily Injury Liability Insurance, but the premiums and limits of insurance
The date on a Claims-Made policy that triggers the beginning period of coverage
prior to the effective date. A retroactive date is not required. If a retroactive
date appears on the policy, any claim made during the policy period on a loss that
occurred before the retroactive date will not be covered.
A liability policy designed to provide liability protection in addition to that
provided by standard policies.
Provides coverage for the replacement of valuable papers, records and forms, including
We have also answered some of the more common questions that arise on our Frequently Asked Questions page.
Figure out which insurance you need based on the language in your contracts.
Learn your risks, how insurance protects you, and what a typical policy costs.
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