"GREAT SERVICE IS OUR POLICY"

Five Terms on Auto Insurance Policies You Need to Know

Policy Period - this is the time period in which your policy begins and ends. The policy period can range from 6 months up to a year.

Limits and coverages - these are the types and amounts of coverage available. Your auto policy may cover things such as bodily injury and property damage liability.

Annual premiums - this is the cost for your auto insurance for the year.

Collision vs. Comprehensive - comprehensive insurance gives you coverage for your car due to fire & theft while collision offers you coverage from things like hitting another vehicle or backing into a pole.

Underinsured vs. Uninsured - uninsured covers you for injuries resulting from a hit-and-run or a driver that does not have liability coverage while underinsured covers you for an accident with another driver who does not carry enough liability coverage to cover the full cost of your injury claim.

Important Insurance Policies Small Business Owners Overlook

Cyber insurance - in 2017, 61% of cyber incidents were directed at small businesses. A good cyber policy will include incident response coverage. You also want it to cover expenses associated with a loss, such as business interruption, data recovery costs, and defense coverage.

Professional liability - this is for business owners who provide a service to protect you against a dissatisfied client.

Inland marine - some business owners think their inventory is covered anywhere, but it is not. Items are typically covered within 500 feet of your business. For protection of your items while they are being moved by boat, airplane, car or truck , you must have inland marine.

Contingent business income coverage - this covers your business for loss of income caused by physical damage or a loss elsewhere.

Employee non-owned auto insurance - your commercial auto policy is vehicle-specific, if your employee drives their own vehicle on company business, you aren't covered - unless you have employee non-owned auto insurance.