General liability insurance
A certificate of insurance (COI) for commercial general liability insurance proves that your company carries this coverage. The document summarizes important information about your policy in a single page.
A grace period is the additional time your insurance company gives you to pay your premium before your coverage expires.
A claimant is a person or business entity that files a claim to receive payment for a specific loss under the terms of an insurance policy.
An ACORD certificate of liability insurance is a document that provides a summary of your business insurance policy and proves you have liability insurance coverage.
The aggregate limit is the maximum amount your insurance company will pay for all covered claims filed during your policy period.
An additional insured is a business, individual, or other entity included in a general liability policy in addition to the named insured. Additional insureds are a way of extending your liability insurance coverage to another person or business.
As an independent contractor, general liability insurance might not top your list of priorities. But when something goes wrong, it can protect you from expensive legal costs.
An insurance renewal is the end of the term of your policy, at which point, you'll need to determine if you'd like to continue under the same policy with the same insurance carrier.
The per-occurrence limit is the maximum amount of insurance money you'll get for claims from a single incident.
Business insurance is designed to protect your company against insurable risk, or the likelihood of a loss. But it's important to understand that even the most comprehensive insurance policies don't cover every type of risk.
An expiration date is the day your insurance policy lapses. Your insurance coverage will typically end at midnight on your policy's expiration date.
Want your insurer in your corner? A duty to defend policy makes it an insurer's obligation to provide legal defense for a lawsuit, instead of just compensating you for the claim.
A duty to defend clause in your liability policy means your insurance company must work out the details of your legal defense.
Both general liability and professional liability are types of liability insurance that cover the business risks faced by small technology and IT businesses. They differ in the types of liabilities they insure against.
General liability insurance is your company’s first line of defense against many business risks, but it has its limits. Learn these common general liability exclusions to make sure you don’t get caught without coverage.
