What is a business income loss claim? So, usually in the policy a business loss claim could be worded as a business interruption claim or business income loss claim. Either way, it’s the same thing, these types of claims cover you, when you have some sort of hazard, whether it be a fire or some … Continue reading “What is a business income loss claim?”
What about loss of inventory claims?
What about loss of inventory claims? I represented a restaurant where the power went out during Hurricane Irma and much of their items were refrigerated so they had to throw it away because there was no power for a week, things are going to spoil like food in a matter of days or even shorter … Continue reading “What about loss of inventory claims?”
What is a business interruption claim?
Business Interruption insurance covers you for situations when you’re not able to operate your business. Let’s say that your business has a fire, all of a sudden you have to shut down your business while they restore it. Everyday your shut down, you know that you normally make a certain amount of money. Based on … Continue reading “What is a business interruption claim?”
What types of claims can be made for business insurance policies?
Business insurance claims are very similar to home owners. If you’re a business owner, you have water damage issues due to a plumbing problem you may have in your business, you could have a fire in your business, you could also have hurricane damage or you can even have a theft or vandalism claim. Just … Continue reading “What types of claims can be made for business insurance policies?”
What is the duty to indemnify?
The duty to indemnify is the next step after the duty to defend. Let’s say that the insurance company determines that they do, in fact, have the duty to defend you against any claims for bodily injury or property damage. Now, the next step is they look deeper at your policy, they check any case … Continue reading “What is the duty to indemnify?”
What is the duty to defend?
When you have liability insurance, the first thing, the insurance company looks at is whether they have a duty to defend you in any sort of claim or lawsuit that is being brought against you for bodily injury or property damage. The duty defend looks at the language in the lawsuit that’s being brought against … Continue reading “What is the duty to defend?”
What happens if my dog bites someone, am I covered?
It depends on the language in your policy. I’ve seen a lot of policies that have animal liability exclusions. If that’s in your policy and you have that exclusion, then the answer is no. Now, some insurance companies will ask you if you have any pets and if you tell them you have a pet … Continue reading “What happens if my dog bites someone, am I covered?”
Someone gets hurt on my property who is responsible?
If someone gets hurt on your property who is responsible? Well, you’re arguably responsible since it happened on your property. Let’s say you just mopped your floors and someone slipped on your floor. Or you had some construction going on and they tripped because the flooring wasn’t level. That is something that you would be … Continue reading “Someone gets hurt on my property who is responsible?”
What If I Damage Someone Else’s Property?
Let’s say you’re doing some work around your house and you are lighting something flammable. Or let’s say you’re working on your grill and something explodes and it causes a fire that spreads to your neighbors home. Your neighbor can then seek compensation through your policy under the liability section for that property damage. If … Continue reading “What If I Damage Someone Else’s Property?”
What is liability Insurance, do I automatically have it?
When you have a homeowner’s policy, you will have a section that has Protection for liability. For example, you likely have protection for liability. If someone you know has party at your house and somebody slips and falls and hurts their back and they have to get medical treatment. They may sue you for whatever … Continue reading “What is liability Insurance, do I automatically have it?”