Terms to Know:
Bond: Acts as a grantee for payment on a given projects — bonds are used in lieu of posting a money. deposit.
Collision: Collision provides coverage for damage to your vehicle caused by a collision with another vehicle or object.
Comprehensive: Comprehensive covers fire, theft, malicious mischief, vandalism or perils not otherwise covered by collision.
Liability: Liability covers bodily injury and property damage sustained by a third party caused by you or your employees.
Property: Property coverage primarily covers buildings, stock, furniture, equipment, fixtures and tenants improvements.
Valuation: Replacement costs, replaces old with new. Actual cash value is cost less depreciation.