How a 60-Day Vacancy Clause Can Slash Your Commercial Property Claim by 85%
Marcus Thompson expected his commercial policy to cover the full $87,300 in water damage at his vacant warehouse. The carrier paid $14,200 and denied the rest, citing a clause most owners never read.
How a Claims-Made Policy Leaves You Exposed After You Switch Insurers
David switched professional liability insurers and saved $1,400 a year. Then a former client filed a $48,000 claim, and neither his new nor his old insurer would pay.
Why Sole Proprietors Pay $800 a Year for a Workers Comp Policy That Will...
Marcus Reed bought an $812-a-year ghost workers comp policy to win a $42,000 commercial job. He fell off a ladder, filed a claim, and learned the policy excluded him as the owner. Ghost policies satisfy the certificate of insurance, not the owner.
Social Engineering Fraud: Why Your Cyber Liability Policy Will Not Pay When Your Controller...
David Liu's firm wired $245,000 to a fraudster posing as the CEO. Their $1 million cyber liability policy paid nothing. Social engineering fraud sits in a coverage gap most owners do not see until the wire is gone.
Garagekeepers Liability: Why Your Garage Policy Will Not Pay When a Customer’s Car Is...
Marcus Brown's repair shop had a burst pipe that destroyed a customer's BMW. His garage liability paid nothing. Garagekeepers liability is the policy that covers customer vehicles in your care.
Equipment Breakdown Coverage: When Property Insurance Will Not Pay for a Failed Compressor
Mei Zhao watched a $14,800 inventory loss and a $7,400 compressor repair fall outside her commercial property policy. Equipment breakdown coverage would have paid both.
Builder’s Risk Insurance: What Contractors Need During Construction
Marcus Holloway watched fire destroy a $480,000 residential addition mid-build. His CGL paid nothing toward the rebuild. Builder's risk would have.
The Coinsurance Penalty: Why Your $200,000 Commercial Property Claim Got Cut to $147,000
Wei filed a $200,000 fire claim on his restaurant building. The check came back for $147,000. The shortfall was the coinsurance penalty buried on page nine.
What Your Business Owners Policy (BOP) Doesn’t Actually Cover
Most small business owners buy a BOP and assume they're covered. They're not - and the claims that actually destroy small businesses fall into the exact gaps a BOP leaves open.
Commercial Crime Insurance: Why Your BOP Doesn’t Cover Employee Theft
When a longtime bookkeeper drains $47,000 from your business account, your BOP isn't going to write that check. Here's the policy that does.
