FAQs

Professional Liability Insurance typically does not cover intentional wrongdoing, bodily injury, property damage, or non-professional activities. For those risks, General Liability Insurance is usually the right place to look. ...

Annually, and any time the building or the contents change. Renovations, new equipment, higher inventory levels, and a new location all move the number. Two California pressures move it ...

Report it, protect the property from further damage, and document before you clear anything. The duty to mitigate is in the policy, and reasonable emergency repairs are usually recoverable, ...

By penalizing you at claim time for insuring the building for less than it is worth. A coinsurance clause requires the limit to equal a stated percentage of the ...

Evaluate the replacement cost of your building and contents, considering factors like location, industry-specific risks, and the value of your assets. Because the right limits depend on the specific ...

The losses it excludes are mostly the slow ones and the ones that belong elsewhere. Wear, deterioration, rust, and settling are maintenance rather than sudden loss. Faulty workmanship, design, ...

Annually, and at any change that could affect eligibility. New revenue, a second location, a new service line, added employees, a change in ownership, or a move into a ...

Usually yes, and that is one of the real advantages of the form. Most BOPs include business income and extra expense as part of the package rather than as ...

Size, class, and exposure, and the thresholds belong to the carrier rather than to the law. Common limits are square footage, annual revenue, number of locations, and building height. ...

The property values and the class of business do most of the work. Building limit, business personal property limit, square footage, construction type, and the protection class at the ...