Commercial Auto
Insurance that helps repair or replace your car in the event of an accident
collsion coverage
Insurance that covers mobile equipment
Inland Marine
The amount of money a business pays for an insurance policy
Premium
True/False: Workers' compensation is a state-mandated, "no-fault" insurance system that pays benefits to workers injured on the job to cover medical care, part of lost wages and permanent disability
True
The set amount that the policyholder must pay per loss on an insurance policy
Deductible
Protection covers the policyholder, family members, and passengers if injured by a hit-and-run motorist or driver who carries no liability insurance.
Uninsured Motorist
Insurance that covers your business property inside of a premise
Business personal property coverage
Insurance that protects your business from bodily injury and property damage
General liability
True/False: A business must post information identifying your insurance carrier or claim administrator in a conspicuous place so your employees know whom to contact if an injury occurs.
True
Coverage that can help if employees steal from your company — whether on their own or with the help of outsiders.
Employee dishonesty
Insurance that protects you if your vehicle is damaged in a non-accident situation
Comprehensive coverage
A clause that typically requires an insured to insure their property to at least 80% of its value
Co-insurance clause
Insurance that protects specialized professionals against claims of negligence
Professional liability
True/False: Uninsured sub-contractors do not count against your payroll
False
The perils listed and described in a policy. In a named perils policy, only losses caused by those listed perils are covered.
Named Perils
Insurance that provides liability coverage for autos not owned by the business
Hired/non-owned auto coverage
Insurance that provides additional coverage for liability claims made on general liability, commercial auto, or worker's compensation policies
umbrella
True/False: A general contractor is liable for any injuries to uninsured subcontractors or their uninsured employees.
True
Coverage pertaining to claims arising from the insured's liability for injuries or damage caused by acts of errors and missions of the insured while performing duties of his/her profession.
Professional Errors and Omissions
What is the best form to have on your property policy broad, special or basic
Insurance that protects you in the event you are sued for allegations of Wrongful Termination, Discrimination, Workplace Harassment etc.
EPLI Insurance
True/False: If the employee is off work more than 14 days, the employee then is paid for the first three days of work missed.
True