Often a commercial insured’s liability insurance program consists of several layers. The first layer of insurance generally consists of primary insurance, which provides first dollar indemnity for judgments and settlements up to the limits of liability of the primary policy. Generally, primary insurance is subject to a deductible and obligates the insured to defend the insured against lawsuits, which is normally accomplished by assigning counsel to defend the insured. In many instances, a commercial insured may elect to self-insure. Above the primary insurance or self-insured retention, the insured may have one or more layers of excess insurance to provide coverage additional limits of indemnity protection. There are a variety of types of excess insurance, including “stand-alone” excess policies (policies that contain their own terms, conditions, and exclusions), “follow form” excess insurance (policies that follow the terms of the underlying policy except as specifically provided), “umbrella” insurance policies (excess insurance that in some circumstances could provide coverage that is broader than the underlying insurance), and “surplus lines” insurance (policies written by non-admitted carriers).
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As you have provided information on illness, injury, claims or prior exclusions we may require further details before issuing your documents and will be in touch within 7 working days. Once the information has been reviewed exclusions may be placed on your policy (exclusions show any specific illnesses or injuries that will not be covered under the policy for your pet). If exclusions are placed they will be shown on your Certificate of Insurance. If you have not heard from us within 7 working days, please call 0345 071 8000, quoting your reference number .
What kind of insurance should I get? When you get a quote, we’ll ask you what kind of insurance you’re looking for. There are three main levels of cover to choose from: Third-party is the lowest level of cover available. It insures you against damage caused to someone else or their property, including your passengers, as the result of an accident. It doesn’t cover your car against repair or replacement. Third-party, fire and theft offers the same level of cover as third-party, but also covers your car for repair or replacement if it’s stolen or damaged by fire. Comprehensive offers the most protection, covering you and your car, as well as other people and their property. We’ve covered the three levels of cover in more detail in our guide to insurance policy types.
Unlike some insurance our single trip cover also protects you from the moment you take out your policy, not from when you start your holiday. That means if you unexpectedly fall ill, suffer injury or bereavement that prevents you from travelling, you’ll be covered.
To “indemnify” means to make whole again, or to be reinstated to the position that one was in, to the extent possible, prior to the happening of a specified event or peril. Accordingly, life insurance is generally not considered to be indemnity insurance, but rather “contingent” insurance (i.e., a claim arises on the occurrence of a specified event). There are generally three types of insurance contracts that seek to indemnify an insured:
An independent insurance consultant advises insureds on a fee-for-service retainer, similar to an attorney, and thus offers completely independent advice, free of the financial conflict of interest of brokers or agents. However, such a consultant must still work through brokers or agents in order to secure coverage for their clients.
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If you have employees, contractors, casual workers or temporary staff, you’re required by law to take out employers’ liability insurance. It’ll cover claims from employees who’ve been injured or become seriously ill as a result of working for you.
RAC Insurance Here at RAC Insurance we work hard to make sure that we bring you the best quotes by searching a panel of approved insurers to find you the right cover at the right price. With 120 years experience serving customers in the UK, we’re able to work with insurers to make sure you have great insurance options whether you drive a car, van or motorbike. You can also get insurance for your home, classic car, motorhome, caravan, minibus and commercial vehicles. If you’re just looking for temporary car insurance, you can also get a pay-by-day quote, and if you’re heading off on holiday we have travel insurance so you can relax and enjoy your holiday knowing you’re in safe hands.
A tailored business insurance policy will help you safeguard your financial future. Our consultant Ellie explains your legal responsibilities and why most companies, professionals, and small businesses need insurance.
An insurance company may inadvertently find that its insureds may not be as risk-averse as they might otherwise be (since, by definition, the insured has transferred the risk to the insurer), a concept known as moral hazard. This ‘insulates’ many from the true costs of living with risk, negating measures that can mitigate or adapt to risk and leading some to describe insurance schemes as potentially maladaptive. To reduce their own financial exposure, insurance companies have contractual clauses that mitigate their obligation to provide coverage if the insured engages in behavior that grossly magnifies their risk of loss or liability.
Protect your business in minutes With the energy, care, time and resources you’ve put in, insurance for your business (and getting it right) will be a top priority. As specialists in insurance for small business, we understand that your requirements are unique and that the types of business insurance on offer can be confusing. So to help you decide, we’ve designed a form that’ll help you compare business insurance quotes tailored to your needs, choosing from a range of covers including public liability and employers’ liability. To get started, click below and get your commercial insurance quotes now. Online business insurance Selling products online? We can now cover your online trade, with online retailers’ insurance built for businesses that sell on the web. We offer excellent value and extensive cover, with stock insurance part of the package. Whether you’re a home-based business or high street retailer, our online retail insurance offers a tailored solution. Compare quotes Covers Public liability insurance Professional indemnity insurance Employers’ liability insurance Product liability insurance Tool insurance Stock insurance Personal accident insurance Office insurance Business contents insurance More business insurance covers See also Landlord insurance
Did you know that there are 50 car insurance groups? Your car is in one of them, and in general, the higher the group, the higher your car insurance premium is likely to be. If you’re just curious about what group your car’s in or you’re looking to buy a new car and want to check out the group before laying down the cash, then our car insurance group checker is here to help. Just input a few details about your own or a prospective car, and we can tell you what group it’s in. Why not have a look now?
In many countries, such as the United States and the UK, the tax law provides that the interest on this cash value is not taxable under certain circumstances. This leads to widespread use of life insurance as a tax-efficient method of saving as well as protection in the event of early death.
Excess line insurance companies (also known as Excess and Surplus) typically insure risks not covered by the standard lines insurance market, due to a variety of reasons (e.g., new entity or an entity that does not have an adequate loss history, an entity with unique risk characteristics, or an entity that has a loss history that does not fit the underwriting requirements of the standard lines insurance market). They are typically referred to as non-admitted or unlicensed insurers. Non-admitted insurers are generally not licensed or authorized in the states in which they write business, although they must be licensed or authorized in the state in which they are domiciled. These companies have more flexibility and can react faster than standard line insurance companies because they are not required to file rates and forms. However, they still have substantial regulatory requirements placed upon them.
When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium. Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims – in theory for a relatively few claimants – and for overhead costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer’s profit.
There are a number of different car insurance policies around, but don’t worry, we’ll explain the differences and make it easy for you to pick the policy which suits you best. Broadly speaking, there are three main types of car insurance: comprehensive, third-party and third party (fire and theft). Comprehensive cover will protect your car as well as other people’s property whereas a third-party policy will only cover damage you may cause to someone else’s property. Third party (fire and theft) provides the same level as standard third party, but will also cover you in case of damage caused by fire or if your car is stolen. It’s also worth knowing that the typical car insurance policy lasts for 12 months and will need to be renewed each year. Your insurance might automatically renew when it’s about to expire, so remember to come back to comparethemarket.com to get the deal that’s right for you.
“A prang on a bumper is now not only a piece of plastic to be replaced, but a cacophony of sensors and cameras,” a Confused.com spokeswoman said.
“Couldn’t fault them, found and offered me the best deal for my business.” Tina Lake, Carer What our customers are saying We value the reviews and ratings we receive from our customers, whether they’re good or bad. We use this feedback to continuously improve how we work with (and for) our customers. Contact us
Please take reasonable care to answer all of the questions honestly and to the best of your knowledge. Your policy may be cancelled, or a claim may be rejected or not fully paid, if you don’t.
The financial stability and strength of an insurance company should be a major consideration when buying an insurance contract. An insurance premium paid currently provides coverage for losses that might arise many years in the future. For that reason, the viability of the insurance carrier is very important. In recent years, a number of insurance companies have become insolvent, leaving their policyholders with no coverage (or coverage only from a government-backed insurance pool or other arrangement with less attractive payouts for losses). A number of independent rating agencies provide information and rate the financial viability of insurance companies.
Lifetime guarantee on repairs gives you quality you can rely on Our approved nationwide network will be ready to help following a car insurance claim. What’s more, any repairs they do for you are guaranteed for as long as you own your car. That’s AXA quality you can rely on, for life.
Insurance policies can be complex and some policyholders may not understand all the fees and coverages included in a policy. As a result, people may buy policies on unfavorable terms. In response to these issues, many countries have enacted detailed statutory and regulatory regimes governing every aspect of the insurance business, including minimum standards for policies and the ways in which they may be advertised and sold.
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Insurance company claims departments employ a large number of claims adjusters supported by a staff of records management and data entry clerks. Incoming claims are classified based on severity and are assigned to adjusters whose settlement authority varies with their knowledge and experience. The adjuster undertakes an investigation of each claim, usually in close cooperation with the insured, determines if coverage is available under the terms of the insurance contract, and if so, the reasonable monetary value of the claim, and authorizes payment.
Questions and answers Do I have to answer all the questions? Yes, please answer all of the questions. Answering all of the questions honestly helps to ensure that your insurance will be valid. For some questions we’ve pre-selected the most common answer. For these questions you’ll need to check that these answers apply to you or any other drivers. Is the AA an insurance broker? Yes, we search a panel of leading insurers to find you our best quote. All of our quotes offer the same range of policy features. Do AA members get a discount? As an AA member you’ll receive enhanced policy benefits and may qualify for a discount. What is a policy excess? An excess is an amount that you pay towards the cost of a claim for loss of or damage to your vehicle. A compulsory excess is the amount your insurer will ask you to pay. These are pre-set by your insurer. A voluntary excess is how much you’d be prepared to pay on top of the compulsory amount. The higher you go, the lower your premium. Can I pay a voluntary excess? Yes, you may get a discount on the premium if you agree to pay towards the cost of any claim for loss of or damage to your vehicle. Is my online payment secure? Yes it is. We know that when you buy online you want your personal details and your credit or debit card information to be private and secure. We are committed to providing this security for you. Our secure-server software encrypts all the details in your online transaction. Is immediate cover available? Yes. Immediate cover is available online and over the phone.