insurance franchises
Need help with a question of business insurance?
Largo real time property agent who asked about the name of the agent Corridor and affiliates National franchises as "additional insured" on my personal policy. Interested in the pros and cons of this from the perspective of the agent. Is this a increasingly common practice? affect my personal protection? Will Insurance Co. office for this kind of support?
This is a common practice in real estate. This covers the broker if you are doing business in his car under the name of the corridors and cause damage. I guess the agent requires a minimum liability – of up to one million dollars of liability? In any case – the insurance company will not be charged more to add and "Additional Insured" however, the higher limits of liability will incur a higher premium. Liability costs are among the lowest in the auto policy. It's a wise decision to have the highest liability limits. This also protects you in case they cause damage to transact business on behalf of the agent. If the applicant chose to sue you and the agent is possible, according to state law, that the corridor could sue to cover their share of compensation. For the cost relatively low increase in responsibility, it must. Also, check with your accountant, but it is likely that the additional cost (or the total premium) is also deductible taxes as business expenses. Good Luck! Hope this helps!
Heather Discussing Her Sign & Insurance
