Cheap Brand Handbags-Home Inspector E and O Insurance
When you consider insurance coverage for your home inspector business you are not doubt concerned about retroactive coverage. You should be concerned; if you get a policy without retroactive coverage you could be exposed on a claim outside your policy period. cheap brand handbags This article will talk about the following points as we discuss retroactive coverage. 1. What does retroactive mean to your insurance policy and liability coverage and why is having that coverage vital to your business 2. Claims Made vs. Occurrence insurance coverage brand handbags 3. What are the ways you can determine if your policy has retroactive coverage for your home inspector business? Starting at the top, What is Retroactive Coverage? And why is cheap handbags so important to your inspector insurance policy? Retroactive insurance coverage is part of most claims made insurance policies. The retroactive coverage part extends the reporting period of your policy to include prior acts. Basically what that means is that the policy will cover or "pick up" your past years of work. So, as in most typical claims made inspector insurance policies retroactive overage would pick up inspections you have performed prior to the current year or your policy cheap handbags. Here is a really basic example.....let's assume you have been performing inspections for 7 years. And you carried claims made coverage for each of those 7 years, without a gap in that coverage. The retroactive coverage part of your home inspector e & o insurance policy would cover the previous 7 years in addition to the upcoming year you are purchasing the new insurance policy to cover cheap handbags online. The one major caveat....... You must have had insurance coverage for each of those previous 7 years and had no lapse or break in coverage. Were you to have a lapse in coverage, otherwise referred to as a gap, the acts or inspections prior to the gap would lose their retroactive coverage handbags store.