NLIC.org

Katie Said:

Does renters insurance cover a home business?

We Answered:

No. It's for PERSONAL property, and PERSONAL liability. There are specific exclusions built into it, for business property and business liability.

Sandra Said:

If I incorporate my small business, can I buy health insurance that will cover a pre-existing condition?

We Answered:

Each state has different laws governing the insurance carriers in each state. That being said, it is likely that you can get a small group plan, and your pre-existing conditions would be covered immediately because you can prove continuous coverage, (employers plan.) Most likely you would not need to be incorporated, and would not need to purchase COBRA coverage if your effective date on the small group plan dove-tailed with your last day of employment.
That's the good news. The bad news is that, in general, group insurance rates are about double that of an individual plan. If at all possible to obtain an individual/family plan, (even with a waiver or two,) I would consider this. If your pre-existing conditions are not too serious or expensive to maintain, it may well be worthwhile to purchase an HSA, (Health Savings Account,) qualified plan, paying for any medications/office visits with pre-tax dollars.

Jesse Said:

A business sells insurance cover to the worlds major airlines, covering them against both damage to their ai-?

We Answered:

There is ALWAYS a limit to liability. Reason? You can't factor "unlimited liability" into rates.

Gilbert Said:

Is is possible for my insurance to cover business-related accidents?

We Answered:

If you were responsible for an accident they can and most often would be sued and be held liable for the injuries and damages. Plus pain and suffering and everything else. If you were responsible for the accident, the insurance company would pay damages up to the policy limit and defend your parents in court. But if they have $100,000 dollars or $300,000 dollars per occurrence policy limit and the injuries and all amount to $500,000 dollars, guess who pays the difference. Your parents..... However you Employer, the Non - Profit will also be named and sued. They should have a Master Policy of their own that would cover them for this exposure along with everything else associated with the operation. There is a way for the Business Policy to extend and become Primary by Endorsement in a situation like this and limit your parents exposure.
Two areas of advice, make sure your parents policy has a liability limit of at least $500,000 or $1,000,000 dollars, and that your employer the Non - Profit has this endorsement in their Liability Package extending it to cover an employee in their own car while working for the employer. Not the employers policy covering the employer, but the employers policy extending and covering the employee them self. There is a difference. In this case that would also mean covering your parents as they are the Registered Owners of the car. It is a common endorsement and readily available. If they don't have it and won't get it, you need to quit right away or make them sign a Hold Harmless Agreement naming you and your parents and releasing them from any and all liability associated with your employment with them and give you a copy. Hope this helps you out