Specialty Insurance Vocabulary Terms
Whether you need a business liability policy, and coverage for your personal property, the world of insurance can be daunting. Below we provide a glossary of some of the policy jargon and types of coverage you may see or have to consider. Search alphabetically. If you still have questions, or want more information on specific types of needs, our website can be a good resource. Good luck! A|B|C|D|E|F|G|H|I|J|K|L|M|N|O|P|Q|R|S|T|U|V|W|X|Y|Z A Accident Insurance Accident Insurance provides any person involved with an organization (participants, staff members, volunteers) reimbursement for...
Do You Need Liability Insurance?
If you are a business, yes, you do. If not, you still may need it. Liability insurance provides protection from a list of expenses that result from liability claims, such as bodily injury or property damage, medical expenses, and defense costs of lawsuits. The cost of insurance depends on whether the insurer considers you or your business high- or low-risk for claims, and if you’ve had claims for injuries or damages in the past. It’s best to talk to your insurance agent or broker for advice on what the perfect solution for you is. Types of Liability Insurance Here are three kinds of...
Why Do I Need Wedding Insurance?
Have you seen the video where the best man trips, knocking the bride and the minister into the pool? How about the one where the drunken guest does an impromptu pole dance, and pulls the tent down over the entire reception? What could go wrong? You just can’t beat YouTube for demonstrating why people need one-day wedding insurance! Most wedding venues require wedding insurance, in case someone slips on ice outside, or otherwise gets injured and tries to blame the venue. But why wedding insurance if it’s not mandatory? You owe it to yourself and your partner to prevent the unexpected from...
What is Vendor's Coverage? Do You Need It?
Say you’re a new business, and you’re setting up your first trade show booth. Which of these mishaps would be covered by your standard business liability insurance? Someone steals your laptop from the booth Someone breaks an ankle tripping over your cables You accidentally smash one of the event center’s light fixtures The flash drives you give away infect someone’s laptop with a virus If you thought your insurance would cover all of the above, you’d be in for a shock, because only #1 would be covered. To protect yourself against claims related to the other three, you’d need...