Sample Claim – General Liability: A patient in a physicians office was injured when the chair upon which they were seated collapsed. The claimant suffered a sprained arm which resulted in a claim payment of $2,500. A child enters a store with his family and when they are not looking, he starts playing with […]
Category: Business Insurance
Real Estate Agent EPLI
Real Estate Agent and Broker Employment Practices Liability Insurance Real estate agents have clients and employees, thus they are at risk for EPLI claims. Stratum Insurance Agency LLC can help with EPLI insurance for both private and non-profit entities. As the real estate industry begins to boom again, so does the potential for claims. Stratum […]
Why does the location of my business matter?
Why does the location of my business matter? Different insurance carriers have different rules regarding the location of your business. One of the advantages of working with Stratum Insurance Agency LLC is that we work with many insurance carriers that offer insurance to over 1000 types of businesses. Some carriers do not allow home-based businesses. […]
Home-based business insurance
Why insure a home-based business? Did you know that most homeowners policies have an exclusion for “business pursuits” or something similar that excludes coverage for a business conduction from your home? It is crucial to have protection in the event of a claim. Do we sell home-based business insurance? Yes! This is one of […]
Business Income Coverage
Business Income Coverage An insurance covering loss of income suffered by a business when damage to its premises by a covered cause of loss causes a slowdown or suspension of its operations during the time required to repair or replace the damaged property. Coverage limits vary. While this coverage may appear automatically as part of […]
Extra Expense Coverage
Extra Expense Coverage Extra expense coverage is a commercial property insurance that pays for additional costs in excess of normal operating expenses that a a business or other organization incurs to continue its operations while its property is being repaired or replaced after having been damaged by a covered cause of loss. Extra expense coverage […]
What is Commercial General Liability Insurance – CGL
Commercial General Liability Insurance – CGL The general liability insurance coverage of a BOP (business owners policy) is comparable to a typical Commercial General Liability (CGL) policy, providing protection against claims of bodily injury or property damage for which your business may be liable. A general liability policy can often be purchased on a stand-alone […]
What is a business owners policy (BOP)?
Business Owners Policy (BOP) A business owners policy (BOP) combines general liability insurance and Property insurance in a single commercial insurance policy. BOPs offer great small business insurance coverage at very competitive premiums. The policies generally offer a wide variety of coverage options, such as hired/non-owned autos, business income and extra expense, and in some […]
What are Gross Receipts?
What are Gross Receipts? On many insurance applications, you will see a questions about about your gross receipts. The term gross receipts means the amount of money that your business brings in prior to paying your expenses. For example, if all of your billings and sales bring in $500,000 a year, then your gross receipts […]