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Museum insurance plans are, by nature, complex. It can therefore be difficult and time-consuming to navigate through the many coverage options that are available to you.
Rather than approaching the purchasing process alone, you can save time, money and aggravation by working with First Underwriters.
Because we are not captive to just one insurance provider, we can help you build a policy that is right for your business and can comparison-shop to find you a selection of suitable and competitively-priced policies.
Contact a First Underwriters broker to learn more, and you can start reviewing policies specifically tailored to the museum industry in no time.
Museum Insurance Coverages
The Commercial Auto policy will pay “sums” for which the insured is legally liable because of bodily injury or property damage to which the insurance applies. Therefore, while covered bodily injury or property damage is required to trigger coverage, recovery under the policy can actually go beyond these types of damages.
Insurance exists for the purpose of protecting persons and organizations from the adverse financial consequences of certain unpredictable events, regardless of the coverage line being considered. For general liability insurance, the unpredictable event that constitutes the subject of the insurance is a claim of legal liability arising out of a company’s operations, premises, products, and completed work.
Commercial property is the policy that an organization purchases to pay for damage to its own buildings and the personal property in them. A commercial property policy can also cover loss of income or increase in expenses that result from insured damage to buildings and their contents.
Umbrella liability insurance and excess liability insurance are two forms of secondary coverage—that is, they both sit above one or more underlying liability policies and do not attach until the underlying policy’s limit of insurance has been exhausted.
If your business is forced to temporarily cease operations because of complications caused by a covered event, this coverage is designed to provide a continuation of income. This may enable your business to pay its monthly expenses and employee salaries until repairs are complete and business can resume as usual.