Neighbors Insurance - Commercial and Personal Insurance in Boca Raton, Florida

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Auto (Commercial)

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Bonds

A Bond is a form of financial suretyship.  Types of bonds include:

Fidelity Bonds - which reimburse an employer for financial loss resulting from dishonest acts of employees.

Surety Bonds - contract by which one party agrees to make good the default ordebt of another. 


Director & Officers

Coverage when a director or officer of a company commits a negligent act or ommission, or misstatement or lisleading statement, and a successful libel suit is brought against the company as a result.  Usually a large deductible is required.  The policy provides coverage for directors' and officers' liability exposure if they are sued as individuals.  Coverage is also provided for the costs of defense such as legal fees and other courts costs.


Excess Insurance

Property, liability, or health coverage above the primary amount of insurance.  For example, the primary coverage is $100,000 and the excess insurance is $1 million.  After the losses exceed $100,000, the excess insurance will pay for the losses up to a total of $1 million.


Garage

Coverage for bodily injury, property damage or destruction, for which the insured garage and/or its representatives become legally liable resulting from the operation of the garage.  For example, negligent repair to a customer's automobile brakes cause them to fail, thereby injuring the driver.  The garage faces a liability suit for perhaps three types of damages: special, general, and punitive.


General Liability

Provides for separate limits of coverage for general liability, fire legal liability, products and completed operations liability, advertising and personal liability, and medical payments.  An aggregate limit of liability is in force for the general liability, fire legal liability, advertising and personal liability, and medical payments claims.  When total claims for all these areas exceed a given annual aggregate limit of liability, the policy limits are said to be exhausted and no mroe claims for that year will be paid under the policy.  There is also an aggregate limit of liability in force for products and completed operations liability claims.


Inland Marine

Business Risks: Coverage for (1) property damage or destruction of an insured's property and (2) liability exposure of an insured for damage or destruction of someone else's property under his or her care, custody, or control.  The insured (shipper) needs this insurance because the carrier (who can also be the insured and purchase inland marine insurance) may be found not at fault for damage to a property; or the carrier may not have any insurance or adequate insurance.

Perils covered include fire, lightning, windstorm, flood, earthquake, landslide, theft, collision, derailment, overturn of the transporting vehicle, and collapse of bridges.


Liquor Liability

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Property

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