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With the ACT annual policy, you get coverage for General Liability as well as products/completed operations. The annual policy provides you with the necessary coverage to sell your products in person at your store, at a show, or market, as well as to anyone online. Plus, with the annual policy you have the option to include professional liability insurance, which provides coverage if you teach, host training sessions, do art demonstrations, or hold anything similar virtually. You can also optionally add coverage to your tools, equipment, and supplies with Business Personal Property (Inland Marine) coverage.
The ACT annual policy provides each insured with their own certificate of insurance and dedicated liability limits. To put it simply, you will not share limits with other ACT insureds. Another benefit of the ACT annual policy is that there is no liability deductible.
ACT’s annual policy includes coverages needed for your products’ liability exposures while you’re attending a tradeshow, fair, or exhibition, or if you’re selling your products online. To qualify for the ACT annual policy, your annual gross sales must be under $100,000. If you have more than $100,000 gross sales per year, contact the ACT customer support team for additional options.
General Liability Aggregate Limit
The most your policy will pay in a 12 month policy period for bodily injury and property damage claims that you become legally obligated to pay due to your business services.
$2,000,000
The maximum amount your policy will pay in a 12-month period for bodily injury and property damage claims arising out of the insured's products or business operations conducted away from the insured's premises once those operations have been completed or abandoned.
$2,000,000
General Liability Each Occurrence Limit
The maximum your policy will pay for a bodily injury or property damage claim that you become legally obligated to pay due to your business services.
$1,000,000
Personal and Advertising Injury Limit
The amount that your policy will pay for claims arising out of one or more of the following offenses:
-False Arrest, detention or imprisonment
-Malicious prosecution
-Wrongful Eviction or Wrongful Entry
-Oral or written publications that slander or libels a person or organization
-Oral or written publication or material that violates a person's right of privacy
-The use of another's advertising idea in your advertisement
$1,000,000
Damage to Premises Rented to You Limit
Applies to damage by fire to premises rented to the insured; also applies to damage regardless of cause to premises (including contents) occupied by the insured for 7 days or less.
$300,000
Optional Business Property Limit (Per Article)
Business Personal Property covers tangible property that is movable or transportable in nature (e.g. supplies, equipment, or inventory) but excludes coverage for structures and items that are part of the structure.
$5,000
Optional Business Personal Property Aggregate Limit
Business Personal Property covers tangible property that is movable or transportable in nature (e.g. supplies, equipment, or inventory) but excludes coverage for structures and items that are part of the structure.
$10,000
Optional Business Personal Property Deductible
Amount of money that the insured must pay before ACT Insurance will pay a claim.
$250
Optional Professional Liability Per Occurence Limit
Professional Liability Coverage protects your company against claims that a professional service you provided caused your client to suffer financial harm due to mistakes on your part (errors) or because you failed to perform some service (omissions).
$100,000
Optional Professional Liability Aggregate Limit
Professional Liability Coverage protects your company against claims that a professional service you provided caused your client to suffer financial harm due to mistakes on your part (errors) or because you failed to perform some service (omissions).
$200,000
Optional Professional Liability Deductible
Amount of money that the insured must pay before ACT Insurance will pay a claim.
$1,000
$0 – $50,000 in Annual Sales
$279
$50,000 – $100,000 in Annual Sales
$375
Optional Professional Liability
$125
Optional Business Personal Property (Inland Marine)
$54
Raise BPP Limits to $10,000/$50,000
$185
**Please note these are brief definitions of coverage and your policy may be more restrictive in its language. It is essential that you refer to the actual policy for a complete description of coverages and exclusions. If you would like to see a sample policy, please contact us.