Tag Archives: insurance

Declaration Page and Policy Effective Dates

When reviewing your Business Insurance declarations page one of the most important items to make sure that is absolutely correct is the name of the insured or insureds. Usually listing your corporate legal name will suffice for invoking coverage when a claim arises. It is usually prudent to also include all trade names (Doing Business As) so that there is no question as to whom the insurance contract is supposed to be providing coverage for. Sometimes where there are joint ventures, partnerships, or a common corporate ownership as a named insured, this can all present coverage questions down the road.

One of the axioms in insurance contracts is that you cannot sue or collect from yourself. Unless there is common ownership (50% or more) the insurance carrier will typically not allow multiple corporate names as a named insured. The usual exception to this rule is whereby an endorsement is issued on your policy providing additional insured coverage for a landlord, vendor, or some other entity via contract provisions. Most insureds do not realize that by adding a landlord or a vendor etc. as an additional insured on their insurance policy that it will normally prohibit each party from coverage being provided from the insurance due to mutual lawsuits against each other. This goes back to the primary axiom that we discussed earlier that you cannot sue yourself.

Some Business Insurance policies require that you specified the first named insured on the declarations page. The reason for that is at the insurance company will only send out notices of cancellations, change requests etc. to the first named insured. In theory, there could be hundreds of entities on the policy and it would be very cumbersome for the carrier to continually notify hundreds of entities every time a change is made on the policy. Therefore it is very important to make sure that the first named insured is the entity that has the authority and responsibility for making changes on the insurance policy.

Finally, with regards to the named insured’s on the declarations page the legal form of the named insured such as; sole proprietor, partnership, corporation, LLC, nonprofit, etc. needs to be spelled out so that it is written correctly within the policy. It is important to make sure that the appropriate corporate officer who is dealing with the insurance is designated by the corporate minutes, is the person who signs all of the documents with regards to the policy. It can cause legality issues for the insured, the corporation or for the insurance carrier if an unauthorized person is signing these legal documents on behalf of the insured and is not authorized to do so. Insurance contracts are legal documents and must be treated as such with the administration and execution of the forms and endorsements.

R. Glenn Matsen, CEO, MBA, CPCU, ARM, CLU, ChFC, SEO has over 10 years of experience in providing search marketing insurance solutions for the small business insurance owners needs and is an expert in SEO, link building and link acquisition, article marketing and ranking clients sites high on Google. His personal website contains detailed information on Commercial Insurance.

As a platinium member at ezinearticles I can get your links published in my high quality articles within the hour! Mail me for prices and details. I catere for both small insurance agents and large corporate insurance organizations.

Will Not Be Baffled By Property Owner’s Insurance Policy! Get Assist The Following!

On the list of greatest reasons to obtain homeowners’ insurance policies is, not only to guard your property from hurt, despite the fact that that is surely necessary, but you also want to protect the items in your house. It’s substantially additional possible that you’ll be a victim of theft than a victim of your tornado. You’ll want to make use of the guidelines here to find the ideal achievable policy. fresno tree


It is rather vital so that you can get insurance policy on your house…why? Due to the fact it is your own home! You might have to reside in there and when some thing have been to happen towards your property, like a tree falling on it or a fire burnt it to the ground, you’ll be significantly regretting you didn’t get house insurance plan.


In case you need to file a homeowner’s insurance plan declare, you’ll need to confirm your losses. A great way to document your belongings is usually to consider a video while strolling by way of the house, describing the things. Then upload the video clip to your safe and sound, non-public place on-line, so it will not likely be destroyed if nearly anything occurs on your residence. Scan receipts for ones possessions, way too.


Including movement sensitive lighting to your home will get you a pleasant lower price in your residence insurance coverage rates. You will end up decreasing the home’s probability of burglary and it’ll in turn decrease the quantity of money that you just should pay for your home insurance premiums annually as well as improve the safety of the residence.


When you’ve got problematic trees on your own property, ensure that that you are coated in the function that a tree damages a neighbor’s home. Some insurance policy companies may help purchase tree removal if your tree poses a threat for your home or perhaps a neighbor’s. Have a very specialist arborist analyze the trees for damage or condition. fresno tree service


See when your policy gives reductions for non-smokers and retirees. There are some insurance policies companies that supply non-smokers a discount of close to 15 % in case you qualify. To qualify, you’ve got to become a non-smoker and you won’t be able to allow for cigarette smoking by any person as part of your house. Retirees and senior citizens typically are provided savings considering that insurance policy corporations tend to are convinced they will be residence additional and may far better protect their dwelling from burglary and hearth.


When you have problematic trees on your own home, be certain that you are coated from the function that a tree damages a neighbor’s home. Some insurance companies will help buy tree removal should the tree poses a risk to the home or simply a neighbor’s. Have a very expert arborist study the trees for harm or disease. fresno tree removal


Paying off your mortgage may not be quick, but undertaking so can make your homeowner’s insurance plan premiums drop considerably. Insurance providers suppose that individuals who individual their residences outright are extra probable to get fantastic care of them, and so they will file less statements the insurance plan corporation will have to spend.


To summarize, no matter if you are an insured house owner or if you have nevertheless to receive property insurance policy, it can be clever being very well informed around the matter. Utilize the information and facts granted to you with the previously mentioned article for making sure you’ve got the ideal residence owner’s insurance policy probable.