FREQUENTLY ASKED QUESTIONS
Business insurance questions
Business Liability Insurance, also known as Commercial General Liability (CGL) Insurance, protects your business from common liabilities. This is the basic form of business insurance. CGL should be carried by all businesses, small or large, because businesses face liabilities every day. The only way to protect your assets is to carry adequate business liability insurance. A CGL insurance policy is the first line of defense against many common claims.
Although general liability insurance policies differ, depending upon the coverage you choose, general liability insurance can cover claims of bodily injury or other physical injury or property damage. It is frequently offered in a package with property insurance to protect your business against incidents that may occur on your premises or at other covered locations where you normally conduct business. CGL enables your business to continue operations while it faces real or fraudulent claims of certain types of negligence or wrongdoing.
If you have only one form of business insurance, it is most likely Commercial General Liability (CGL) insurance. There are four basic categories of business liability; be sure to ask your insurance representative about coverage for: bodily injury, property damage, personal injury, and advertising injury.
Surety Bonds - also known as contractor’s bonds – are generally used in freelance work, and private or public trust. In business, a surety bond is an agreement between a client and a business owner for the work that is being performed.
For example, surety bonds are often used in the construction industry. The general contractor (or freelancer) must provide the owner of the business (person he is working for) a bond for his performance of the terms of the contract. In addition, business owners and contractors may also provide payment bonds to make sure subcontractors and suppliers are paid for their work. Surety bonds are an essential protection for many industries in California. NGI provides surety bond coverage with “A” rated companies.
Errors and Omissions (E&O) Insurance is also known as professional liability insurance. E&O insurance protects your business against loss from a claim of alleged negligence in the performance of your professional services. E&O insurance is valuable coverage for many industries, including realtors, accountants, architects, engineers, commercial printers and food service.
Commercial Auto Insurance is a vehicle insurance policy that provides financial protection for a business' vehicles and its drivers. Employees involved in on-the-job collisions will receive coverage for medical injuries as well, regardless of fault. Here’s a short list of commercial auto insurance offered by New Generation Insurance. Please contact us for more information.
Truck Insurance - We insure local truckers, owner-operations and truckers driving the 13 Western states. We also insure long hall truckers, including Florida and New York. NGI is expert at providing coverage for commercial drivers with good or bad driving records.
Supplemental Insurance for Truckers - NGI provides truckers with primary liability, cargo insurance, physical damage, Workers’ Compensation and medical insurance. We have relationships with multiple carriers, so that we can shop the best insurance price and options. NGI also provides insurance for small fleets.
Other Commercial Vehicles - New Generation Insurance is a one-stop insurance resource for commercial auto insurance. We provide:
- Tow truck insurance
- Dump truck insurance
- Food trucks insurance
- Taxi cabs insurance
- Pizza delivery vehicles insurance
- Company minivans insurance
Workers' Compensation Insurance covers your employees' medical and disability expenses related to work-related illness and on-the-job injuries. Employer's Liability coverage, also included in these policies, protects your company should an employee claim that his or her injury or illness was caused by your company's negligence or failure to provide a safe workplace. Workers' Compensation Insurance is required by regulation in most states when you have W2 employees. In some states the requirement may include that you cover your 1099 contractors. In some states, owners, officers, partners and other principals can decline to participate in their own companies' workers' compensation coverage.
Home insurance questions
Personal auto insurance questions
Source: California Department of Insurance
A temporary or preliminary agreement which provides coverage until a policy can be written or delivered.
Any physical injury to a person. The purpose of liability insurance is to cover bodily injury to a third party resulting from the negligent or unintentional acts of an insured.
The termination of insurance coverage during the policy period. Flat cancellation is the cancellation of a policy as of its effective date, without any premium charge.
Notice to an insurer that under the terms of a policy, a loss maybe covered.
Reimburses you for damage to your automobile sustained in a collision with another car or with any other object, movable or fixed, (for example, you accidentally backed into another object while pulling out from a parking stall and causing damage to the bumper and fender of your covered automobile).
Collision Deductive Waiver
This coverage waves your collision deductible if you are hit by an negligent uninsured motorist.
Common Carrier Liability
Coverage for transportation firms that must carry any customer's goods so long as the customer is willing to pay. Examples include trucking companies, bus lines, and airlines.
Provides coverage for any direct and accidental loss of, or damage to, your covered automobile and its normal equipment, to include but not limited to fire, theft or malicious mischief.
The amount of the loss which the insured is responsible to pay before benefits from the insurance company are payable. You may choose a higher deductible to lower your premium.
Amendment to the policy used to add or delete coverage. Also referred to as a "rider."
Certain causes and conditions, listed in the policy, which are not covered.
An elective combination of coverages for the risks of owning a home. Can include losses due to fire, burglary, vandalism, earthquake, and other perils.
The policyholder - the person(s) protected in case of a loss or claim.
The insurance company.
Coverage for a policyholder's legal liability resulting from injuries to other persons or damage to their property as a result of an auto accident.
Coverage for all sums that the insured becomes legally obligated to pay because of bodily injury or property damage, and sometimes other wrongs, to which an insurance policy applies.
Will pay reasonable expenses incurred for necessary medical and /or funeral services because of bodily injury caused by accident and sustained by you or any other person while occupying a covered automobile.
The written contract of insurance.
The maximum amount a policy will pay, either overall or under a particular coverage.
The amount of money an insurance company charges for insurance coverage.
Damage to another person's property. The purpose of liability insurance is to cover property damage to a third party resulting from the negligent or intentional acts of an insured.
An estimate of the cost of insurance, based on information supplied to the insurance company by the applicant.
The restoring of a lapsed policy to full force and effect. The reinstatement may be effective after the cancellation date, creating a lapse of coverage. Some companies require evidence of insurability and payment of past due premiums plus interest.
Usually known as an endorsement, a rider is an amendment to the policy used to add or delete coverage.
Uninsured Motorist Bodily Injury
Will pay you and your passengers for bodily injury cause by a negligent uninsured motorist, a hit-and-run driver, or by a driver whose insurer is insolvent.
Uninsured Motorist Property Damage
Will pay for damages to your automobile, set up to a limit, when caused by a negligent uninsured motorist.
A period of time set forth in a policy which must pass before some or all coverages begin.
Workers Compensation Insurance
Coverage providing four types of benefits (medical care, death, disability, and rehabilitation) for employee job-related injuries or diseases as a matter of right (without regard to fault).