The term 'excess' insurance is usually for liability coverage. An excess liability policy is also commonly referred to as an 'umbrella' policy because it offers additional coverage over other liability coverages. In the case of a subcontractors insurance, it would be a policy which would extend higher limits than the base policy on general liability and auto liability.
A company is required to carry workman's compensation insurance on subcontractors. This is regardless of the number of employees a subcontractor employs.
How much you have to pay if you make a claim on your insurance i.e if your car costs £750 to repair and your excess is £250 the insurance company will only pay £500
To get your car rental excess insurance for free the following steps need to be taken. Take out car hire excess reimbursement insurance and make a claim on it.
Excess insurance may be purchased to protect you from devastating losses that may not be covered by normal insurance such as health, home-owners, and automobile insurance. Talk to your insurance agent or health care company about whether or not you may want to invest in an excess insurance policy.
Proposer excess means the amount the insured has to pay towards the cost of any insurance claim. The proposer is the insured or policyholder.
The excess is what the policy holder has to pay before the insurance company starts to pay. If excess is $100 Damage is $300 the policy holder gets $200.
The most common type of surety insurance is construction bonding, which insures that contractors will be able to complete a construction contract and pay their suppliers and subcontractors.
the excess is how much you pay, anything over that is paid by the insurance company. So for a 1000 pound billyou would pay 500 and they would pay 500
Well it depends on the company providing the policy. Most will calculate the premium based on your direct payroll and they could also add in payroll for your subcontractors. If you don't want to pick up the premium charge for your subcontractors you will have to show the insurance company that the subs carry their own liability insurance policy. Hope this helps. By the way NY is a difficult state to even find reasonable liability insurance for general contractors.
It means that whoever states their insurance is Primary, it's really Primary regardless of who is at fault. For example, the subcontractors insurance is usually primary over the GCs insurance. This means that if the sub has a claim and in all reality it's the GC's fault, but the sub listed their insurance as primary, then the subs insurance is paying first no matter what. Primary means just that, the insurance listed is PRIMARY, regardless of fault. www.mac2insure.com
Car Hire Excess Insurance rates can be compared using the service at Hire Excess, TravelSupermarket or Worldwide Insure. Martin Lewis also gives tips on saving money on this insurance on the Money Saving Expert website.