Occurrence Policies Frankfort KY
Insurance and financial services
Lexington , KY
Nicholasville , KY
Louisville , KY
States/Provinces Served: Kentucky
When choosing liability insurance as your insurance broker to fully explain Occurrence Policies. You may find that an occurrence policy is the best business insurance for you and easiest to work with insurance claims managements during the claim process.
There are two forms of business insurance when it comes to purchasing a liability insurance policy. There is the Claims-Made Insurance and Occurrence policy. The Occurrence Policies may be the type of liability insurance your insurance broker advises for your business insurance. An occurrence policy contract covers you for a specific period of time from date of enforcement to date of expiration. Any claims made during that time or in the future against an occurrence that occurred during the period the liability insurance was in effect are covered through the insurance claims managements of that company. Claims may possibly be made years after the policy has expired but would still be covered under the occurrence policy that was in effect at that time. Your insurance broker may recommend this type of coverage depending on the type of business insurance you require.
Occurrence Policies are not the favorite of most insurance companies because even though a liability insurance policy has expired, the insurance company is unable to close its books on the business insurance because there is always the potential of a future claim. Your insurance broker, however, will be able to explain how having an occurrence policy will protect you in the future for any occurrence you may not even have been aware of.