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Is additional insured the same as insured as used in a business income coverage policy?
An Additional Insured is only used for General Liability coverage. Since Business income is a property coverage, they would not be insured. Also, business income is designed to pay for loss of income to the insured, not lienholders, or contractors they are performing jobs for.
What else can I help you with?
What type of insurance do you need for a small carpentry business?
Contractors Liability Insurance would protect against damage and injuries that you may cause. Many companies that you do a job for would request an additional insured endorsement which may cost you an extra $100 per endorsement. Blanket additional insured endorsements cost about 3 to 4 times that, and make sense when you are adding more than 4 additional insureds to your policy. Other coverage that you might want to consider are: Business Personal Property, Loss of Income, Workers Compensation and Commercial Vehicle Coverage.
What is the waiting period included in the definition of period of restoration in the business income coverage form?
72 hours
WHAT IS other income?
Income from activities that are not undertaken in the ordinary course of company's business. harvey()
Why is owner of a business is interested in the activity of a business?
The activity of the business is what generates money for the business and the owner will want to maximize income.
What is is the average income for an HVAC business owner?
2$
What type of insurance do you need for a small carpentry business?
Contractors Liability Insurance would protect against damage and injuries that you may cause. Many companies that you do a job for would request an additional insured endorsement which may cost you an extra $100 per endorsement. Blanket additional insured endorsements cost about 3 to 4 times that, and make sense when you are adding more than 4 additional insureds to your policy. Other coverage that you might want to consider are: Business Personal Property, Loss of Income, Workers Compensation and Commercial Vehicle Coverage.
What is BIEE insurance coverage?
Business Income and Extra Expense.
Is management fee included under business income coverage?
Yes
What is Co insurance Business Income Coverage Form?
Business Income coverage seeks to make the insured whole in the event of a covered physical loss of property such that operations are impaired or must cease in the event of covered causes of loss such as fire, theft and vandalism. To write the coverage, a limit (dollar figure) must be established to determine policy limit and associated premium. A Business Income Worksheet is often used to determine this amount which equates to 100% of annual business income for such losses. However, an insured may know or believe that there is no possible way to lose 100% of all annual due to the ability to resume full operations and collection of business income as if no loss had occurred. In these cases, the insured can declare up front that the amount they are requesting to be insured is only a percentage of the annual total. The percentage is often 50% for businesses who can get back up and running very quickly. Typically however, a coinsurance of 90% is automatically applied by your agent as a way of allowing the insurance company to communicate the following to the insured: You must accurately calculate 100% of annual business income within 10% or we will penalize you for underinsuring. It is important to note that AFTER the loss occurs, the insurance adjuster WILL determine the accuracy of your calculation and if you were mistaken, i.e. you insured for $50,000 at 50% but should have insured $100,000 at 50%, the insurance company will impose at coinsurance penalty to your settlement. This is a mechanism by which the insurance company forces the insured to 'insure to value', meaning DECLARE 100% of values, even though your limit may be lower, so that you are covered to policy limits with no coinsurance penalty at the time of loss.
What business income coverage form pays the extraordinary expenses incurred to maintain operations after the occurrence of a covered peril?
Business income insurance DOES NOT contain coverage for extra expense, extra expense is a coverage form add on that you must opt to purchase along with the business income. Extra expense coverage can be used to mitigate the business income losses by spending up front money, such as a generator at a food plant to make sure the food isn't spoiled after a fire takes down the connection to the power grid.
What is business income extra expense insurance?
Coverage for loss of income and extra expenses necessary to continue operating following a covered loss.
What is the waiting period included in the definition of period of restoration in the business income coverage form?
72 hours
Why an individual wants to establish his own business?
To achieve personal objectives and getting additional income
What is the symbol for Delaware Investments Florida Insured Municipal Income Fund in the AMEX?
The symbol for Delaware Investments Florida Insured Municipal Income Fund in the AMEX is: VFL.
What is additional income?
Additional income is income you make apart from you main occupation. This can range from scrapping metal to babysitting. Depending on what you do for this additional income, you may or may not have to pay taxes on it.
In what year did Delaware Investments Florida Insured Municipal Income Fund - VFL - have its IPO?
Delaware Investments Florida Insured Municipal Income Fund (VFL) had its IPO in 1993.
How do you rate a Business Interruption Insurance Proposal?
Business Interruption Insurance replaces lost income after a loss. It is best to apply an amount of coverage that is equal to your actual income. The period of time your income can be replaced may be as little as only 3 months, and as much as 18 months depending on the insurance company.
