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Insurance Coverage Evaluation Checklist
General Liability Insurance
Verify that the policy covers bodily injury and property damage.
Check that the coverage extends to both operational and completed operations.
Ensure the policy limits are adequate for the organization's size and risk exposure.
Vehicle and Transportation Coverage
Confirm that all company vehicles are covered under a commercial auto insurance policy.
Review the policy to ensure it includes collision and comprehensive coverage.
Check that non-owned and hired auto liability is included if employees use personal or rented vehicles.
Workers' Compensation and Employer's Liability
Ensure the policy meets the statutory requirements of the states where the organization operates.
Verify that employer's liability limits are sufficient to protect the company's assets.
Confirm that the policy covers all employees, including part-time and seasonal workers.
Cargo and Freight Insurance
Check that the policy covers the full value of the goods transported.
Ensure coverage for all types of cargo handled, including hazardous materials if applicable.
Review the geographic limits of the policy to ensure all routes are covered.
Umbrella or Excess Liability
Determine if the umbrella policy fills any gaps left by the primary liability coverage.
Confirm the umbrella policy provides additional limits over the general liability, auto liability, and employer's liability.
Review the exclusions to make sure they don't undermine the primary coverage.
Professional Liability (Errors and Omissions)
Ensure that the policy covers legal fees and damages for claims related to professional services.
Verify that the policy limits are appropriate for the level of professional services provided.
Check the retroactive date to ensure coverage for past services that may lead to future claims.
