A MUST-HAVE GUIDE TO OUR SPECTRUM COVERAGES AND LIMITS.

Transcription

1 A MUST-HAVE GUIDE TO OUR SPECTRUM COVERAGES AND LIMITS. Delivering the broad property and liability coverage that businesses need is what The Hartford has done for decades. We continue to advance our Spectrum product so we re consistently delivering industry-leading coverage that helps ensure small businesses will prevail when challenged by the changing face of risk. Take a close look at these highlights of our Spectrum Business Owner s Policy. SPECTRUM HIGHLIGHTS LIABILITY COVERAGES BUSINESS LIABILITY COVERAGES Per Occurrence Optional per occurrence limits available Aggregate Optional aggregate limits available LIMIT $1MM $300K, $500K, $2MM $2MM Double the per occurrence limit Medical Expenses (per person) $10K 1 Newly Acquired Organizations Damage to Premises Rented to You Automatically Included Under Business Liability Form 180 days Up to $1MM Employees and volunteers Subsidiaries in which greater than 50% of voting stock is owned by the named insured Vendors as required by written contract or written agreement Defense costs outside the limits of insurance Mental anguish resulting from injury, sickness or disease Operators of non-owned watercraft under 51 feet Additional insureds when required by written contract Per location general aggregate limits Personal & advertising liability Property damage to borrowed equipment not used to perform operations at a job site Unintentional failure to disclose hazards Waiver of subrogation Prepare. Protect. Prevail.

2 OPTIONAL LIABILITY COVERAGES CyberFlex Provides expanded coverage for Internet-related personal and advertising injury Data Breach First-Party Response Expense Available s $10K - $500K Deductible Options $1K - $100K; minimum deductible determined by limit selected Third-Party Defense and Liability 2 Available s $50K - $1MM 3 Deductible Options Additional Coverage Options $1K - $100K; minimum deductible determined by limit selected Business Income / Extra Expense Prior Acts Coverage Extortion Threats Professional Liability 4 Available s $10K - $2MM Deductible Options $0 - $25K Additional Coverage Options Defense in Addition to s 5 Extended Reported Period Prior Acts 6 Umbrella Available s $1MM - $10MM Retention (self-insured) $10K BUSINESS PROPERTY COVERAGES BUILDING Building Glass LIMIT Included under building definition BUSINESS PERSONAL PROPERTY Employee's Tools Personal Property of Others Tenant Improvements & Betterments Included Included; an additional limit of insurance may be purchased Included; an additional limit of insurance may be purchased ADDITIONAL COVERAGES Building - Automatic Increase 8% Collapse Debris Removal 25% of the amount paid for covered damage plus $10K Equipment Breakdown Sublimit: Expediting Expenses $50K Sublimit: Hazardous Substances $50K Sublimit: Upgrade Allowance 125% Fire Department Service Charge $25K Fire Extinguisher Recharge Forgery Glass Expense $5K; optional limits up to $250K available Lock & Key Replacement $1K 1 $5K limit applies to certain restaurant classes. These classes can purchase $10K. 2 Only available if purchased in conjunction with First-Party Response Expense coverage. 3 Available options may vary by type of business and state. 4 Applies to new and renewal business written in Sentinel Insurance Company, Ltd. 5 Some states require that defense costs be offered in addition to coverage limits. As such, defense in addition to limits will be included automatically with Professional Liability coverage in those states. 6 Included for most classes. Prior Acts coverage for accountants, tax preparers and business consultants must be requested and approved. Various options for Prior Acts coverage are available for these classes. 2

3 Money & Securities Maximum: Inside $10K; optional limits up to $100K Maximum: Outside $5K; optional limits up to $50K Ordinance or Law Sublimit: Demolition Cost $25K; optional limits up to $50K Sublimit: Increased Cost of Construction $25K; optional limits up to $50K Sublimit: Tenants Improvements & Betterments $25K; optional limits up to $50K Sublimit: Undamaged Portion $25K; optional limits up to $50K Pollutants & Contaminants Clean Up and Removal $15K Preservation of Property Theft Damage to Building Water Damage, Other Liquid, Powder or Molten Material Damage 45 days Business Income Actual loss sustained (ALS) to 12 months; no waiting period 7 Extra Expense Actual loss sustained (ALS) to 12 months; no waiting period 7 Civil Authority Actual loss sustained (ALS) to 30 days; 72-hour waiting period applies Extended Business Income 30 days; option to increase for longer periods to a 1-year maximum Business Income from Dependent Properties $5K; optional limits up to $500K available ; 72-hour waiting period applies Tenant Glass $25K Leasehold Improvements $25K Lease Assessment $2.5K COVERAGE EXTENSIONS Accounts Receivable Maximum: On Premises Maximum: Off Premises Arson & Theft Reward $10K Data & Software $10K Garage, Storage Buildings & Appurtenant Structures Building $50K Business Personal Property $5K Newly Acquired or Constructed Property Building 25% of building limit up to $500K Business Personal Property $250K Business Income $50K Maximum 180 days Outdoor Property Per tree, shrub or plant $1K per tree, shrub or plant; subject to $10K aggregate limit Radio & Television Antennas, incl Satellite Dishes $2K Personal Effects $10K Property Off-Premises Building $5K Business Personal Property 8 $10K; optional limits up to $100K available Valuable Papers & Records Maximum: On Premises Maximum: Off Premises LIMITS OF INSURANCE Business Personal Property - Seasonal Increase 25% of business personal property limit; options up to 50% available 3

4 STANDARD PROPERTY DEDUCTIBLE 9 $500; options from $250 up to $25K available OPTIONAL PROPERTY COVERAGES Back Up of Sewers & Drains Business Income Extension for Off-Premises Utility Services Business Income Extension for Off-Premises Operations Business Income Extension for Cloud Service Interruption 12 hours; options available 12 hours; options available 12 hours $25K Computer Fraud Computers & Media Electronic Vandalism Website / Internet Services Denial of Service Website Vandalism 12 hours for a business income loss resulting from a virus Options up to $2MM $50K; subject to a 12-hour waiting period $10K; subject to a 12-hour waiting period $2.5K Good Faith Advertising $5K Earthquake Earthquake Sprinkler Leakage Fine Arts Full & sublimit options available Full & sublimit options available Maximum limit for scheduled items is $5MM per location; subject to a limit of $25K per item Franchise Upgrade Coverage 25% of the amount paid for Covered Property damage up to $100K Off-Premises Utility Services: Direct Damage Options up to $50K Product Recall & Replacement Scheduled Property Signs Away From Premises - Outdoor Signs Temperature Change Options up to $250K / $500K available Includes cameras, cell phones, on-premises personal property, catering, musical instruments. Also includes athletic, equestrian and scouting gear. Available Transit Property in the Care of Carriers of Hire Options up to $100K Options up to $100K; up to $250K for food processors Coverage option commonly included under a Stretch endorsement. This is not flood coverage. 7 Specified limit coverage may be required for selected classes or programs. 8 Includes property in transit in owned vehicles. 9 $250 standard property deductible applies to additional coverages and coverage extensions unless otherwise stated. EASY QUOTING. BROAD COVERAGE. Quote The Hartford s Spectrum BOP today. Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. In TX, this insurance is written by Sentinel Insurance Company, Ltd., Hartford Casualty Insurance Company, Hartford Lloyd s Insurance Company, Property and Casualty Insurance Company of Hartford, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Hartford Accident and Indemnity Company and Hartford Fire Insurance Company. In CA by Sentinel Insurance Company, Ltd. (CA license #8701) and its property and casualty insurance company affiliates, One Hartford Plaza, Hartford, CT In WA, by Hartford Fire Insurance Company, Hartford Casualty Insurance Company, Hartford Accident & Indemnity Company, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Sentinel Insurance Company, Ltd. and Hartford Insurance Company of the Midwest. The Hartford is The Hartford Financial Services Group, Inc. and its subsidiaries. Employee Benefits are underwritten by Hartford Life Insurance Company and Hartford Life and Accident Insurance Company, Hartford, CT. Business Insurance Employee Benefits Auto Home February 2016 The Hartford Financial Services Group, Inc. All rights reserved.

5