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business insurance (long)

updated tue 30 apr 96


Jean Lehman on sun 21 apr 96

I have an Erie Insurance "Ultrapack" policy.
I pay $219 per year.
I thought it was pretty good. It will do me good to read the fine print and
try to summarize. And, one of the good parts of this policy is that I CAN
understand most of it.

There is a $200 deductible on this section.
A-My building is not covered (because I have it under the houselhold insurance)

B-Personal property (mine and others) ($20,000)
--Replacement cost of any property (or property in my care pertaining to
the business or business activities;
--Labor, materials or services furnished by me on the property of others
--any interiest I have had in improvements to buildings I may occupy but not own
--glass which is in my care which is part of the building including glass
in wall cases
Excluded: only citing the notable things...
--vehicles (should have their own insurance); motorcycles, recreational
vehicles and trailers
--extra expense incurred in the reproduction of my papers and records
--property specifically insured in whole or in part by other insurance.
**--NO coverage for mysterious disappearance, inventory shortage
**--NO coverage for brekage to glassware, statuary, marble, bric-a-brac,
procelains and other articles of a fragile or brittle nature UNLESS caused
by fire, lightning, explosion, socin boom, riot, smoke, vehicles, wind,
hail, vandalism etc.
--No coverage for caused by rain, snow or sleet to property in the open.
**--NO coverage to property that has been transferred to a person or place
outside the premises on the basis of UNAUTHORIZED instructions.
**No coverage by theft of gold and othr precious metals and alloys.

C-Income protection. (actual loss sustained not to exceed 12
consecutive months)
Loss of income must be directly related to interruption of business
resulting directly from loss to the covered buildings. (this section is
pretty wordy)

section 1 EXTENSIONS AVAILABLE at no additional cost: Merchandise in shipment;
Fences, walks and unattached outbuildings (A&B).
**Temporarily off-premises business personal property and that of others.
(not to exceed $15,000) apparently I don't have this...Hmmm.
**transportaion-Will pay up to $15,000 for loss in or on a vehicle owned,
leased or operated by you caused by fire, lightning, flood, earthquake,
landslide, windstorm, bridge collapse, ROBBERY, collision (excluding
roadbed colision), upset or overturned transporting vehicle or forcible
entry into locked vehicle leaving visible marks on exterior. This extension
applies when AWAY from premises only. (I apparently don't have this
either...but should)
**check forgery or alteration coverage (up to $1000 per check)
**money and securities comverage up to $10,000.
**electronic data processing equipment-mechanical and electrical breakdown
(caused by malfunction, short ciruit, blow-out, up to $5,000. Includes
operator or programmer error. (bet its expensive!!)
**Employee dishonesty up to $10,000.


D-Personal Injury Liability ($300,000 each occurence; $600 policy
aggregate for DEFG)
E-Property Damage Liability
F-Advertising Injury Liability in the course of advertising your goods.
--does not cover adv injury arising from oral or written publication if
written with the knowledge that it is false.
--does not cover adv injury arising from breach of contract
--does not cover adv injury arising from the failure of your products to
conform with the advertised quality or performance (Hmmm!) OR from the
wrong description of the price of goods, products or services.

G-Medical Payments ($5000 each person - med payments only)
--not for myself or employees.

DE&G-do not cover the handling or loading or unloading from an automobile

LEAD LIABILITY--concerns lead on the premises which can result in damages
by ingestion, inhalation, or absorbsion. Covered now to give time to find a
contractor to remove lead from premises. Will be excluded in 97.

Sorry this is so long. I deleted a bunch of it. Hope it helps someone.


Jean Lehman, in Lancaster, PA
j_lehman@ACAD.FandM.EDU (that's an _underscore_ not a hyphen)