Commercial Lines Q&A

I don’t know how much to project for my General Liability insurance policy. How should I decide?

Answer: Please remember that the premium will be based on these figures. If you
project more than the actual numbers you would not get an insurance refund. If your
projections are a little short of the actual numbers the carriers will pick up the additional
premium due in an audit at the end of the policy term. So in my opinion it is always better to be a little low on the projections than a little high

My vendor needs their own wording listed in the description box on my liability cert.

I cannot list this on the cert because the terms of the policy endorsement are set by the insurance company, and I have referenced their approved wording on the certificate. The wording should satisfy their requirement of being an additional insured provided you have a written contract with them which specifies that they require to be named as additional insured on your policy. I cannot deviate from the carriers approved wording on this, but I don't see any reason why the wording we are using is insufficient if there is a written contract as mentioned above.

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