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1. www.thehartford.com › business-insurance › glossaryGlossary of Business Insurance Terms - The Hartford

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   Jul 13, 2022 · Business Owner’s Policy (BOP) A Business Owner’s Policy includes three essential coverages many business owners need to help protect them from claims of bodily injury or property damage to others. A BOP includes: General liability insurance. Business income insurance. Commercial property insurance.

2. www.cornerstoneinsurancebrokers.com › blog › common50 Common Insurance Terms and What They Mean

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   • Location: 704 S State Rd 135 Suite D #421, Greenwood, 46143, IN

   • Phone: (317) 534-6800

   • Premiums. When you purchase an insurance policy, you'll be required to make regular payments, known as premiums. These payments are typically made monthly or annually and are the cost of maintaining your insurance coverage.
   • Deductible. Think of a deductible as the money you have to shell out from your own pocket before your insurance kicks in to help cover your expenses. It's like the upfront cost you need to cover before your insurance really starts working for you.For example, if you have a $500 deductible and make a claim for $1,000, you'll need to pay $500, and your insurer will cover the remaining $500.
   • Policyholder. The policyholder is the person who owns an insurance policy. This individual is responsible for paying premiums and making claims under the policy.
   • Coverage Limit. Every insurance policy has a coverage limit, which is the maximum amount your insurer will pay out for a covered claim. It's crucial to understand your policy's limits to ensure you have adequate coverage.

3. content.naic.org › glossary-insurance-termsGlossary of Insurance Terms - National Association of ...

   content.naic.org › glossary-insurance-terms

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   This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business. New terms will be added to the glossary over time. The definitions in this glossary are developed by the Research and Actuarial Department staff based on various insurance references. These definitions represent a common or general ...

4. allenthomasgroup.com › business-insurance-glossaryUnderstanding Expiration Dates on Business Insurance Policies

   allenthomasgroup.com › business-insurance-glossary

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   In order to understand the expiration date on your business insurance policy, look for key information such as the policy term, effective date, and termination clause. The policy term specifies the duration of coverage, typically in one-year increments. The effective date denotes when the policy starts providing coverage.

5. www.einsurance.com › glossaryInsurance Glossary – Understanding Common Insurance Terms

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   • Absolute Liability. Liability for damages even though fault or negligence cannot be proven. Certain situations create absolute liability for the manufacturer a product or the provider of a service.
   • Accident. An event or occurrence which is unforeseen and unintended. Accidental is an important concept of risk for insurance. The more unlikely the accident or the occurrence, the less expensive it is to insure.
   • Accident and Health Insurance. A type of coverage that pays benefits, when an accident occurrs or a medical problem arrises, sometimes including reimbursement for loss of income, in case of sickness, accidental injury, or accidental death.
   • Accident Insurance. A form of health insurance against loss by accidental bodily injury.

6. www.insurance-canada.ca › consumer-informationGlossary of Terms - Insurance-Canada.ca

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   These often take the form of glossaries, or lists of specialized terms relating to a special subject – in this case, insurance – with accompanying definitions. Two such glossaries are of particular use to visitors and customers of Insurance-Canada.ca. The University of Calgary's Haskayne School of Business hosts a useful glossary of risk ...

7. People also ask

   What is a glossary of business insurance terms?

   • The Hartford’s glossary of business insurance terms helps business owners better understand the terms and definitions in their policies. Discover key business insurance terms and get a quote from The Hartford today.

   Glossary of Business Insurance Terms - The Hartford

   www.thehartford.com/business-insurance/glossary-of-business-insurance-terms

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   What are insurance glossaries?

   • These often take the form of glossaries, or lists of specialized terms relating to a special subject – in this case, insurance – with accompanying definitions. Two such glossaries are of particular use to visitors and customers of Insurance-Canada.ca.

   Glossary of Terms - Insurance-Canada.ca

   www.insurance-canada.ca/consumer-information/glossary/

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   What are insurance terms?

   • Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage.

   Insurance Glossary – Understanding Common Insurance Terms

   www.einsurance.com/glossary/

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   Where can I find a glossary of insurance & risk management terms?

   • Two such glossaries are of particular use to visitors and customers of Insurance-Canada.ca. The University of Calgary's Haskayne School of Business hosts a useful glossary of risk management & insurance terms. There is also a comprehensive glossary of insurance and risk management terms available from the International Risk Management Institute.

   Glossary of Terms - Insurance-Canada.ca

   www.insurance-canada.ca/consumer-information/glossary/

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   What is general liability insurance?

   • A type of business insurance that helps cover claims that your company caused bodily injury to someone else or property damage to another person’s belongings. General liability insurance is also known as commercial general liability insurance or business liability insurance.

   Glossary of Business Insurance Terms - The Hartford

   www.thehartford.com/business-insurance/glossary-of-business-insurance-terms

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   What is a floater insurance policy?

   • · Floaters: Insurance policies designed to cover property that can be moved from one location to another for both transportation perils and perils affecting property at a fixed location. Plans that employees can use to pay for out-of-pocket health or dependent care expenses.

   Insurance Glossary – Understanding Common Insurance Terms

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8. www.trustedchoice.com › business-insuranceGlossary of Business Insurance Terms - Trusted Choice

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   Jul 18, 2024 · This policy covers you, your employees, and company vehicles for injuries and damage, whether the vehicles are leased, owned, or rented. Passengers are also covered. Commercial earthquake insurance: Provides coverage for property damaged in an earthquake. Typical business property insurance will not pay for this damage.