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30 explainers
Reference - Kitchen Quality Guide
This guide from MSB shows you the different types of kitchens from. basic to builders grade to commercial. A form is also included for an insured or applicant to…
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Reference - Bathroom Quality Guide
This guide from MSB shows you the different types of bathrooms from basic to builders grade to commercial. A form is also included for an insured or applicant to…
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Compare Additional Insured Form CG2010 vs CG2011
The CG 2010 and CG 2011 are both endorsements used in General Liability Insurance policies to add additional insureds, but they differ in the scope of coverage they…
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Crime Insurance - what is it?
Crime insurance – what is it? Crime insurance is a type of coverage that protects businesses from financial losses due to criminal acts such as theft, fraud, or…
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Business Personal Property vs Inland Marine
Business Personal Property Insurance (BPP) and Inland Marine Insurance are both types of coverage that protect business assets, but they differ in terms of the scope of…
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What is a surety bond?
A surety bond is a legally binding agreement among three parties designed to ensure that specific obligations or actions are fulfilled. These three parties are:…
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Why do notaries need surety bonds?
Notaries often need surety bonds to protect the public from errors, misconduct, or negligence in the performance of their duties. Notaries are responsible for verifying…
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What are bid bonds and performance bonds?
ATTN Agents and Brokers: Need access to quoting surety bonds? Sign up here. Bid bonds and performance bonds are types of surety bonds commonly used in construction and…
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What is an extended reporting period on a claims made policy?
What is an extended reporting period (ERP) on a claims-made policy? An Extended Reporting Period (ERP) in Errors and Omissions (E&O) insurance refers to an additional…
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What is an additional insurance on general liability insurance?
An Additional Insured on a General Liability insurance policy is a person, organization or business added to someone else’s policy to provide them with coverage under…
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What is liquor liability insurance?
Liquor Liability Insurance is a type of insurance that provides coverage if a business is held responsible for damages or injuries caused by someone who was served…
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Host Liquor Liability Insurance - What is it?
The distinction between host liquor liability and liquor liability insurance lies in how the alcohol is being distributedand the associated risks: 1. Host Liquor…
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What is the CG2015 Vendor AI Endorsement?
The CG 20 15 is an Additional Insured – Vendors endorsement often used in commercial general liability (CGL) insurance policies. It provides coverage to a vendor as an…
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Bodily Injury Liability vs Medical Payments
Bodily Injury Liability and Medical Payments Coverage are both parts of an auto insurance policy, but they serve different purposes. Bodily Injury Liability: This…
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Commercial Umbrella Insurance VS Commercial Excess Liability Insurance
Both Commercial Umbrella Insurance and Commercial Excess Liability Insurance are designed to provide additional liability coverage beyond the limits of your primary…
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Comparison of a DP1 and DP3 | (DP-1 vs DP-3)
The DP1 and DP3 are both types of Dwelling Property Insurance policies. They are designed to protect property owners who do not need or want a standard Homeowners…
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Surety Bonds - What is a full force letter?
In the surety bond industry, a "Full Force Letter" refers to a written communication issued by a surety company to a principal (the party who purchases the bond) or…
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Basic From vs Broad Form vs Special Form Property Insurance
Here’s a comparison of Basic Form, Broad Form, and Special Form property insurance: 1. Basic Form (Named Perils Policy) Coverage: Covers losses caused by a limited set…
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Occurrence Form vs Claims Made
An occurrence form insurance policy and a claims-made and reported policy differ significantly in how they provide coverage for incidents and when claims can be filed.…
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Why do landlord want to be an additional insured on a general liability policy?
A landlord would request "additional insured" status on a tenant's Commercial General Liability (CGL) policy to protect their own interests and mitigate potential risks…
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What is Allied Health Insurance?
Allied health insurance is a specialized type of liability insurance designed to protect professionals and businesses working in the allied health industry. Allied…
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Garage Liability vs Garagekeepers Liability
Garagekeepers Liability and Garage Liability insurance are both essential coverages for businesses in the automotive industry, but they serve different purposes. Here’s…
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Dealers Open Lot Coverage - what do car dealers buy?
Dealer’s Open Lot (DOL) Coverage is a type of physical damage insurance designed specifically for auto dealershipsto protect their inventory of vehicles from various…
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Travel Insurance - what are the different types
Need access to quote travel insurance? Go to the CARRIER MARKETPLACE . There are several types of travel insurance, each designed to cover different risks and situations…
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Manufactured Home Insurance - Common Coverage Types
1. Dwelling Coverage: Protects the physical structure of your manufactured home against damage from covered perils such as fire, wind, hail, and vandalism 2. Personal…
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Commercial Umbrella Insurance - How Does it Work?
A commercial umbrella policy provides extra liability coverage beyond the limits of your primary insurance policies, such as commercial auto liability and general…
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Types of motorhomes and RVs (recreational vehicles)
Motorhomes are categorized into different classes based on their size, design, and features. Here are the main types: Class A Motorhomes The largest and most luxurious…
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Commercial Auto - Symbol 1 vs. Symbol 7
Difference Between Commercial Auto Insurance Symbol 1 and Symbol 7 In commercial auto insurance, numerical symbols (1–9) are used on the declarations page of a policy to…
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What is defensible space for property insurance?
What is defensible space? Defensible space is the buffer between a building and the grass, trees, shrubs, wildland area, or combustible objects that surround it. It's…
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What is a Minimum Premium
1. What is a Minimum Premium? In commercial insurance, the minimum premium is the lowest amount an insurance company will charge for a policy, regardless of the size or…
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Reference material is for educational use by licensed professionals and is not legal, compliance, or coverage advice. Always confirm against the actual policy form and your carrier's guidelines. Full disclaimer