Frequently Asked Questions

What are Property & General Liability Policies?

Property and General Liability coverage is essential office coverage. It provides broad protection at a very low cost. Most offices with up to $100,000 in equipment and supplies will be able to obtain this coverage at an annual premium of $500 or less.

This policy protects against many types of damage to or theft of equipment, money, supplies and office improvements. It can also cover against employee dishonesty, losses from accounts receivables that cannot be reconstructed after such things as fire or other damage, and losses to computers resulting from power surges, lightning and the like. One of the most important coverages offered in these policies is "business interruption" which, in better policies, will cover business downtime after a covered loss of use of the office premises by providing funds to maintain ongoing expenses and match the profits of the practice for up to one year.

This policy also covers injuries that occur to others while they are on your premises and protects you against claims of liable and slander. Generally, umbrella coverage can be added to this policy at a low cost to increase the limits of liability covered under this and other polices such as Workers Compensation coverage (but not for Malpractice coverage).

As with any overview, this insurance information is general and intended to help you make informed decisions. The actual policies available in your state may contain features not discussed above. An insurance policy is a contract between you and an insurance company. You should read and understand any policy that you purchase. If you have any questions, have the company or insurance broker or agent take as much time as you need to explain policy terms to your satisfaction.

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