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Trucking Insurance Coverages
What is Med Pay?
Medical Payments provide payment of medical expenses of someone injured
at your jobsite, (other than yourself or employees) regardless of fault
or legal liability. It is like accident insurance payable in addition to
any other sums the injured party is entitled to collect. Many times the
injured will accept the payment without pursuing any claims for damage.
What is an additional insured?
An endorsement used to attach your coverage to another party, typically
a client who may have liability exposure arising out of your activities
as a contractor.
What is contractual liability?
This provides protection against the liability assumed under specific
types of written agreements, such as construction contracts.
What is advertising injury liability?
Covers claims charging misappropriation of advertising ideas or style of
doing business, infringement of copyright, title or slogan and oral or
written material that violates a persons right to privacy.
What is aggregate?
Aggregate is the maximum amount payable for one policy year.
What is occurance?
Occurance is the maximum amount payable for one claim.
What is a certificate of insurance?
A document evidencing the fact that an insurance policy has been
written. The certificate includes the effective date, name of insured,
and limits of liability.
What is business personal property?
Furniture, fixtures, machinery and equipment, stock held for sale
including raw materials, and other personal property owned by the
insured that is used in the vusiness either in or on the building or
within 100 feet of premise.
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Tennants Improvements
and betterments added by the insured which are not legally removable
at the end of lease, such as partitions, storefronts, etc.
What to do in the event of a loss
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Notify your Insurance
Company or Broker as soon as possible.
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List the time, origin,
and cause of loss, and the parties involved.
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Cooperate with the
Insurance Company
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Protecting property
from further loss (separated damage and undamaged property)
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Furnish an inventory
of damaged property.
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Notifying the police
if a law has been broken.
What is professional liability insurance?
It protects you against damages arising out of negligent acts when
performing duties for another.
It does not protect against bodily injury, property damage
or fraudulent, dishonest or criminal acts committed by an insured
(libel, slander, theft or embezzlement).
It covers professions such as:
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Architects and
Engineers
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Accountants
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Realtors
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Insurance Agents
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Directors & Officers
of Corporations
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Home Inspectors
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Etc
What is non owned and hired auto coverage?
Non owned autos: only those autos you do not own, lease, hire or
borrow which are used in connection with your business.
Including autos owned by your employees only while used in your
business.
Hired Autos: Only those autos you lease, hire, rent or borrow;
excluding from your employees.
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