NLIC.org

Mike Said:

Do you know the difference between standard market insurance carriers and non- standard?

We Answered:

Non-standard carriers are just companies that are not the "admitted" carriers. It is many times call the Excess and Surplus Lines. Many of these companies are global companies. Lloyds of London is an E & S carrier. As long as the company is financially stable then you should not have a problem. You may pay more for the coverage because the standard carriers do not want your business"too risky" so you have to go to E&S carrier.

Marian Said:

I'm looking into buying product liability insurance, do you know an insurance company that handles this ins.?

We Answered:

Go to your local SBA office and have them reccomend a broker. If you go to the insurance company they are going to try and charge you the maximum they think they can get away with. Your broker will classify you to your appropriate risk and also explain some of the ins and outs so that you can make adustments to your operations to classify diverse risks appropriately. For instance, we originally didn't do this and was paying all our insurance based on the highest classification they cloud dump us in. We found out we could track our types of risks and it has saved us thousands of dollars, well worth the effort to do the tracking.

Derrick Said:

What happens if a company falsefies a Certificate of Insurance claiming they are covered but they are not?

We Answered:

Well, it happens.

It's forgery, and a criminal charge. Likely, they'll get stuck with a fine.

Danielle Said:

Does anyone know what insurance companies are covering home-based businesses?

We Answered:

All the companies I represent for commercial insurance do not have a problem with home based businesses per se. It all depends on exactly what service or product you are offering.

This type of insurance needs to be done by an independent local agent that specializes in commercial insurance -- none of the big name companies that specialize in auto and home insurance will likely help you with this, i.e. Allstate, State Farm, etc.

You can find a local agent through the website for the Independent Insurance Agents & Brokers of America at http://www.iiaba.net/agentlocator/findag… All you need to do is type in your state and zip code, i.e. they do not keep any of your information or farm your information to anyone. Once you type in your state and zip code, you will be able to pull up a list of agents that are local to you and review their websites, the companies they represent and their specialties so that you can choose the agent that will best serve you.

I hope this information helps and wish you the best of luck with your business.