Questions to Ask Your Current or Prospective Agent
Click Here for a Printable Version to bring to your agent.
1. Does the policy they are offering absolutely cover all of your operations?
2. Does the policy they are offering have any professional liability or testing and errors & omissions exclusions?
3. Does the policy they are offering exclude coverage and defense for claims demanding for punitive, multiplied, or exemplary damages?
4. Does the policy require specific insurance of subcontractors in order to cover such work?
5. Does the policy they are offering have an ISO equivalent contractual liability covering contracts in which you hold another party harmless?
6. Does the policy they are offering have an exclusion for grossly negligent tortuous conduct?
7. Does the policy have an exclusion for demolition even if it is the removal of one load supporting member in a building?
8. Is the company A+15(Superior) rated by A.M. Best?
9. Is the insuring company American owned, operated, and re-insured? If not they are likely to be paying significantly less U.S. taxes.
Fungi/Bacteria Coverage (Mold) Related Questions
1. Does the policy they are offering absolutely cover fungi and bacteria for ALL of the operations you do?
2. Does the policy require an accident to trigger pollution, mold, and bacteria coverage?
3. Does the policy they are offering limit fungi and bacteria coverage to the spreading or dispersal of the fungi and bacteria?
4. Does the policy they are offering have a condition that fungi damage become manifest in the same policy period as the claim is made in order for coverage to be triggered?
5. Does the policy they are offering have an exclusion for correcting the point source of moisture?
6. Does the policy exclude coverage for products such as fungicides?