Commercial Insurance Question - General Liability - Inland Marine - Business Auto Insurance?

Commercial Insurance Question - General Liability - Inland Marine - Business Auto Insurance?

Karl owns a large electrical contracting company. They primarily do electrical work on large industrial and commercial buildings, but also have a division that specializes in residential work. Karl has been in business for 10 years and currently carries the following limits of insurance.Inland MarineKarl has scheduled equipment coverage for equipment items over $10,000 in valueKarl has an installation floater for $100,000General LiabilityKarl has liability coverage as followsGeneral Aggregate $2,000,000Products Completed Operations Aggregate $2,000,000Personal and Advertising Injury Limit $1,000,000Each Occurrence Limit $1,000,000Fire Damage Limit $100,000Medical Expense Limit $5,000Property Damage Deductible $1,000Business Auto:Karl has the following business auto insuranceBodily Injury and Property damage $1,000,000 CSLIncludes Hired &- Non-ownedUninsured and Underinsured Motorists $1,000,000 CSLMedical Payments $5,000Comprehensive $250 DeductibleCollision $500 DeductibleHired Physical Damage $50,000An employee of Karl is on his way home in a company vehicle when he looses control of the vehicle on slippery spot on the road and rolls off the highway into a creek. Fluids from the vehicle contaminate the creek water. The cost to clean up this pollution claim is $20,000. The damage to Karl’s truck is $10,000. What coverage if any does Karl have for this loss?Any help would be greatly appreciated!


Our business is to protect your business- to help you preserve your hard-earned assets with the proper business insurance coverage. Since 1922 Pulley-White has provided insurance for businesses of the South with all commercial lines of coverage including: General Liability- Property- Inland Marine- Auto- Work Comp- Excess Liability (Umbrella) and various specialty coverages tailored to specific industries. The independent agency atmosphere we enjoy enables us to market your risk with a variety of insurers giving you the best coverage options, service and premiums available.Source(s):


Seriously. Get out your handbook of insurance policies, and read the policy form. Part of doing "insurance" is READING and UNDERSTANDING policy forms. It's not just about passing the test.Policy forms change. Many companies have "nonstandard" policy forms. If you cannot pull out a policy, read it once, skim it a second time and pull out the information, then you really should not be trying to get into insurance.



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