basic-coverage-descriptions

							                        Basic Coverage Descriptions
(These are basic coverage descriptions and are not intended to provide coverage. All coverage’s
are subject to the insurance policies terms, conditions, limitations and exclusions)

    •       Business Personal Property – Coverage to repair or replace your equipment, stock,
            furniture or fixtures that you own that become damaged from a covered cause of loss.
    •       Business Income & Extra Expense – Reimburses you for your actual loss of
            business income for up to 12 consecutive months during the period of restoration
            following a covered cause of loss to your property. Extra expenses needed to
            continue your operations, such as renting temporary office space, can also be
            covered.
    •       Business Computer & Media – Provides coverage for your computers, peripheral
            devices and media. Coverage can also be provided for the costs to research, replace
            or repair lost or damaged data and software as a result of covered damage to
            computer equipment.
    •       Accounts Receivable – Protects you from the inability to collect outstanding balance
            as a result of lost or damaged records from a covered cause of loss.
    •       Valuable Papers & Records – Protects the value of your time, work and research to
            re-create your customer records or files if they are damaged or destroyed by a
            covered loss.
    •       Equipment Breakdown – Covers the cost to repair or replace equipment, such as
            computer, air conditioners, phone systems and steam boilers, from loss or damage
            caused by mechanical breakdown or artificially-generated electrical current.
    •       Business Liability – Provides legal liability protection against claims of injury or
            damages caused to others by you or your employees.
    •       Employment Practices Liability – Covers claims, including legal defense costs, for
            certain employment related lawsuits brought against you by your employees or job
            applicants.
    •       Identity Recovery – Reimbursement of necessary and reasonable identity recovery
            expenses incurred as a direct result of identity theft.
    •       Outdoor Signs – Will pay for direct physical loss or physical damage to all outdoor
            signs at the scheduled premises due a covered cause of loss.
    •       Back up of Sewer or Drain – Will pay for direct physical loss or physical damage to
            covered property solely caused by water that backs up from a sewer or drain. THIS
            IS NOT FLOOD INSURANCE. This coverage does not cover any back up from any
            sewer or drain when it is caused by any flood. Flood includes the accumulation of
            surface water, rapidly rising water from rain, waves, tides or other bodies or water or
            their spray all whether driven by wind or not.
    •       Personal property of Others – Will pay for direct physical loss of or physical
            damage to personal property of others that is in your care, custody or control.
    •       Temperature Change (Spoilage) - Will pay for direct physical loss of or physical
            damage to perishable stock caused by or resulting from a change of temperature or
            contamination by a refrigerant.
    •       Computer Fraud - Will pay for physical loss of or physical damage to money and
            securities and other property having intrinsic value resulting directly from computer
            fraud. Computer fraud means any act of stealing property following and directly
            related to the use of any computer to fraudulently cause a transfer of that property
            from inside your premises or from a banking institution or similar safe depository to
            a person outside those premises or to a place outside those premises.
•   Employee Dishonesty – Will cover loss to money & securities and other tangible
    property of intrinsic value from dishonest acts committed by an employee, except
    you, whether identified or not, acting alone or in collusion with other persons with
    the manifest intent to cause you to sustain loss and also obtain financial benefit.
•   Fine Arts – Coverage for paintings, etchings, pictures, tapestries, art glass windows,
    valuable rugs, statuary, marbles, bronzes, antique silver, manuscripts, porcelains, rare
    glass, bric-a-brac, and similar property of rarity, historic value. The value will be
    based on market value at the time of the loss.
•   Forgery & Alteration – Coverage for forgery of covered instruments, money orders,
    credit cards, and counterfeit money.
•   Fire Department Service Charge – Coverage for when the fire department is called
    to save or protect covered property from a covered cause of loss.
•   Money & Securities – Will pay for loss of money and securities used in your
    business while at a bank or savings institution, within your living quarters or the
    living quarters of your partners or any employee having use and custody of the
    property at the scheduled premises or in transit between any of these places resulting
    directly from theft, disappearance or destruction.
•   Property off Premises – Will provide coverage for direct physical loss by a covered
    cause of loss to your property that is temporarily at a location you do not own, lease
    or operate.
•   Personal Effects – Will provide coverage to apply to personal effects damaged by
    direct physical loss owned by you, your officers, partners, managers, members or
    employees while at the scheduled premises.
•   Unauthorized Business Card Use - Will pay for your loss of money or charges and
    costs you incur that result directly from the unauthorized use of credit, debit or
    charge cards issued in your business name, including, Fund transfer cards, Charge
    plates, or Telephone cards.
•   Electronic Vandalism – Will provide coverage for willful or malicious destruction
    of computer programs, content, instructions or other electronic or digital data stored
    within computer systems or unauthorized computer code or programming that deletes
    distorts corrupts or manipulates computer programs, contents, instructions or other
    electronic or digital data, caused by persons other then employees.
•   Employee Benefits Liability – Will pay for those sums that the insured becomes
    legally obligated to pay as damages because of any negligent act, error or omission in
    the administration of your employee benefit program which can include group life,
    group accident or health insurance and pension or profit sharing plans.
•   Medical Payments – Will pay reasonable medical expenses including necessary
    medical, surgical, x-ray and dental services for bodily injury to someone other then
    the insured, employees or hired persons, caused by an accident on premises that you
    own or rent because of your operations.
•   Umbrella Liability – Can be added to supplement your existing policies general
    liability limits. Limits can be added starting at $1,000,000.