Category: Business Insurance
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Everything You Need to Know About Insurance Filing As A Motor Carrier
Have you wanted to file your insurance as a motor carrier, as a freight forwarder, or a broker but couldn’t understand how? Then this article is what you need. Apart from applying operating authority, applicants for freight forwarder, motor carrier, and broker authorities must have specific legal processes and insurance agent documents on their files…
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What is A Performance Bond?
This article explains in detail about what is a performance bond and what are the roles of all three major parties in it. A construction job of any kind requires a performance bond. In essence, they provide an assurance that the contractor carrying out the work will honour their contractual duties to the project’s owner…
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Subcontractor’s Warranty Endorsement
Those who are contractors, construction companies, maintenance companies, or other companies that use subcontractors may encounter “Subcontractors’ Warranty Endorsement” on their Commercial General Liability policies. This endorsement requires contractors to obtain additional insured status on the CGL policy of their subcontractors and to make their policies secondary to their subcontractor’s. In addition, contractors may face…
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Insurance Loss Runs: How Do They Work?
An insurance loss run is a report that lists all claims made on a particular insurance policy over a specified period of time. Loss runs are typically requested by insurance underwriters when evaluating an insurance application or renewal, and they can also be used by policyholders to help identify trends or potential issues with their…
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What Is Railroad Protective Liability insurance – Explained
Contractors performing work on or around railroad tracks, railroad right-of-ways, or railroad property are required to have Railroad Protective Liability insurance. Contractors are also offered this coverage in addition to other types of insurance required of contractors. Due to the fact that this coverage is not included in commercial general liability (it’s excluded), it is…
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A COMMERCIAL AUTO INSURANCE POLICY COVERS WHAT?
In the event of an accident, an auto insurance policy for your business could help pay for vehicle repairs or medical bills for a driver. The deductibles and limits of your policy will apply to claims covered by your policy. You should talk to your Safepro Insurance Services Business Insurance agent about coverage availability and requirements in…
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An important benefit of contractor liability insurance
Extremely Important: It is extremely important for many professionals who work in construction and development to have contractor insurance. Builders, developers, trade and artisan contractors that perform processes such as carpentry, plumbing, masonry, electrical, concrete, roofing, HVAC, as well as general contractors depend on contractors insurance. The protection provided by insurance has saved many contractors…
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CA Used Car Dealer Insurance
Insurance for California used car dealers Managing a used car lot requires a lot of dedication and hard work. This is why having a comprehensive policy for your business is so important. The coverage needs to be tailored to the risks related to the dealership’s explicit liabilities and assets. You can get top-rated insurance when…
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Personal and Advertising Injury Coverage – An Overview
Many risks your business might face are covered by a commercial general liability (CGL) policy. This is often referred to as damage to a person’s person or damage to a person’s property (covering injuries you accidentally cause to a third party). It also has an entire coverage section dedicated to an aspect of business operations…
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What Is Completed Operations Insurance?
Your business’ product or completed operations away from the location of your business are covered under the Products-Completed Operations coverage. Your business can be covered if it causes property damage or bodily injury. General liability policies usually include coverage for completed products operations. Once operations are completed or abandoned, it covers liabilities arising from the…