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Frequently Asked Questions
Q: How quickly can I get General Liability coverage?
A: We can often rate and bind policies the same day. Otherwise we can give you a time frame for obtaining a binder when we discuss your account needs.
Q: How is my premium calculated?
A: Carriers use either employee payroll, gross annual sales or subcontractor costs or a combination of the three along with risk type, credits and territory to arrive at an annual premium.
Q: Is my premium auditable?
A: Yes, most carriers will audit at the end of the policy term. The audit is generally upward without a return of premium if estimates made at the beginning of the policy term are not met.
Q: What down payment options are available?
A: We have five down payment choices for financing your premiums 10% to 25% down, credit cards, split downs by credit cards, check and split downs by check.
Q: What is a sunset clause?
A: When a sunset clause is added to your policy the time you are covered after expiration of your current policy is reduced to the period specified in the clause.
Q: What important forms, endorsements or exclusions should I become aware of, that I might need later for job contracts, when purchasing a policy?
A: You should try to understand the following:
1) Waiver of subrogation endorsement
2) Primary & non-contributory wording
3) Forms CG201011/85 or CG2037 or the your work wording vs. ongoing operations
4) new residential work exclusion
5) classification limitation endorsements
6) subcontractors warranty endorsement
7) and be aware of any carrier rating requirements you may be asked to comply with
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