If you are a business owner, then your commercial insurance is an important part of your business plan. By protecting your company and your liability, commercial insurance ensures that you are covered in the event of an unexpected accident or peril that can compromise your reputation.
While commercial insurance is important, it is not always easy to understand all the terminology outlined in your policy. We are here to define five common commercial insurance terms that we think you should know.
- Split Limits – The way in which separate limits for different claims are expressed. Coverage may be split per person, property damage, etc.
- Underwrite – The process of verifying the information provided to determine the acceptability of the risk.
- Non-Renewal – This refers to an insurance policy’s natural expiration.
- Written Premium – A written premium is the total premium on all policies that is written by an insurer for a specific period of time.
- Peril – Perils are defined as the cause of loss in insurance policies and claims.
At Brownlee Agency Insurance Solutions, we are passionate about providing affordable and comprehensive commercial insurance to Sylvester, GA, Valdosta, Albany, GA, Tifton, Moultrie, GA, and the surrounding areas. With over 230 years of experience in the insurance field, our independent agents are equipped with the knowledge and experience required to help you find the most ideal insurance solutions for your budget and needs.
Not only do our agents help you find the right policy for your business, our agents provide you with support when making claims, updating policies, and handling all other complicated aspects of commercial insurance policies.
When you choose Brownlee Agency Insurance Solutions as your independent commercial insurance agency, you are choosing the best! Get in touch with us today to get a quote on commercial insurance in Sylvester, GA, Valdosta, Albany, GA, Tifton, Moultrie, GA, and the surrounding areas.