DeductibleThe amount of loss the policyholder must pay before the insurance benefits are payable.
Sunset Clause A provision limiting the number of years a claim can be reported.
Aggregate LimitThe maximum amount a policy will pay out for a policy period or for a specific claim(s). This limit applies to damages paid for personal injury, injury to the body, damage to property, advertising injury and medical expenses, excluding damages that are included in the products-completed operations hazard.
Per Occurrence LimitThe maximum amount the policy will pay out for each occurrence of a claim.
Advertising and Personal Injury LimitsThe maximum amount the policy will pay for a claim arising from advertising or personal injury, including damages that are not physical, such as libel, slander, false arrest, etc.
Damage to Rented PremisesThe policy covers damage to rented space or premises, such as office space.
Medical PaymentsThe commercial insurance policy covers third-party medical payments caused by the insured’s negligence.
Products-Completed OperationsThe business insurance policy covers the products or workmanship after a project is completed.
Insurance that pays and renders service on behalf of the insured for loss arising out of his responsibility due to negligence, to others imposed by law or assumed by contract.
Available on an Occurrence Form (provides liability coverage only for injury or loss that occurs during the policy period, regardless of when the claim is reported), Claims Made Form (provides coverage only if a written claim is made during the policy period).
Sunset Clause (provision limiting the number of years a claim can be reported).
Components: Aggregate Limit: Commercial General Liability limit that applies to all damages paid for bodily injury, property damage, personal injury, advertising injury and medical expenses, except damages included in the products-completed operations hazard. Maximum limit that a policy will pay out for a policy period or for a claim or claims.
Per Occurrence Limit: Limit the policy will pay out per occurrence of a claim.
Products-Completed Operations: Covers the products or workmanship after the project/work is completed.
Personal and Advertising Injury: Limit the policy will pay for a claim arising from personal or advertising injury. Covers claims for damages which are other than physical such as libel, slander, false arrest, etc.
Damage to Rented Premises: Covers damage to office space or rented premises.
Medical Payments: Covers 3rd party medical payments caused by the negligence of the insured.
Deductible: The amount of loss paid by the policyholder before the insurance policy benefits become payable.
Target Financial & Insurance Services
6630 Flanders Drive
San Diego, CA 92121
Tel: (800) 450-8013
Fax: (800) 434-8053
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