Commercial Insurance

Commercial property losses and insurance premiums have significantly increased over the past two years due to environmental and economic factors. Undervaluation of the replacement costs for a damaged building or equipment can also be linked to commercial property insurers experiencing high loss costs. To compensate, insurers continue to increase premiums, with rates rising 8.7% in the fourth quarter of 2021, according to the Council of Insurance Agents & Brokers. [Read more…]

Taking the time to understand the language and symbols on your commercial automobile insurance policy may seem like trying to learn a new language, but it is important to fully understand your policy so you know how you’re protected. Here are a few general guidelines that are helpful when deciphering your policy:

• Each symbol represents the type of vehicle protected by the applicable liability or physical damage limit.
• The symbol may apply to the type of vehicle covered or the vehicle’s ownership status.
• The various terms within your policy have specific definitions that you should become familiar with.
• The symbols are different on coverage for liability as compared to physical damage coverage.

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