How to Complete the ACORD 30 Commercial General Liability, Umbrella and Excess and Workers Comp Sections
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| ACORD 30 Certificate of Garage Insurance Instructions |
COMMON COLUMNS
The following columns are the same for each of the following sections...
INS LTR - This means Insurer Letter. Look up in the second section down on the far right hand side of this form. You entered the carrier's names next to a corresponding letter - INSURER A, INSURER B, etc. Type in the letter which corresponds to the Insurer providing this coverage and enter that letter in this space.
ADDL INSD
Place a Y in this column if there is an Additional Insured. Remember, additional insureds have to be added to the policy by endorsement. Checking this box on the certificate does not modify the policy.
SUBR WVD
Place a Y in this column if Subrogation has been WAIVED by endorsement under this policy. Remember this also has to be done by endorsement to the actual policy.
POLICY NUMBER
Enter the Policy Number for the policy providing the coverage indicated to the left on this form.
POLICY EFF (MM/DD/YYYY)
Enter the policy effective date - the day coverage begins.
POLICY EXP DATE (MM/DD/YYYY)
Enter the policy expiration date - the day coverage ends.
COMMERCIAL GENERAL LIABILITY
TYPE OF INSURANCE
Under Commercial General Liability your have six check boxes. Put a check or an "X" in the boxes which apply.
COMMERCIAL GENERAL LIABILITY - the first check box indicates there is Commercial General Liability coverage. If this is not checked you will not be checking any of the other check boxes in this section.
CLAIMS-MADE / OCCURENCE - We have a good post on the difference between Claims Made and Occurrence at this link HERE. Check the appropriate check box. These are mutually exclusive. You can only be one or the other so only check one box.
TWO BLANK DESCRIPTIONS - the next two check boxes are available for you to enter your own coverage description. If you check a box, be sure to enter a text description of the coverage to the right of the checked box.
GEN'L AGGREGATE LIMIT APPLIES PER:
This is the maximum amount the insurer will pay. Your choices are...
POLICY - if the maximum is based on the policy period
PROJECT - if there is a maximum that will be paid on any one project.
LOC - if there is a maximum which will be for any specific location
OTHER - enter you own text description
LIMITS
Enter the dollar amount of this policy's coverage next to the provided coverage. If the coverage is not provided under this policy, leave the space blank.
EACH OCCURRENCE
DAMAGE TO RENTED PREMISES (Ea occurrence)
MED EXP (Any one person)
PERSONAL INJURY & ADV INJURY
GENERAL AGGREGATE
PRODUCTS - COMP/OP AGG
BLANK - enter text for coverage and then limit.
You can go back and look in the in the post for the end of June 2014 and the first of July 2014 for a review of these coverage definitions.
UMBRELLA / EXCESS LIABILITY
UMBRELLA or EXCESS - Check the appropriate check box to indicate whether this policy is and UMBRELLA policy or an EXCESS policy.
An Umbrella policy provides liability coverage after the underlying, or primary, liability policy has been paid out. Umbrella policies have a significant retention or deductible amount the insured must pay after the primary insurance policy pays. The umbrella policy has its own terms and conditions and may provide coverage the primary policy does not provide or restrict coverage to not cover some losses the primary policy does cover.
An Excess policy can be an Excess Follow policy. This is where the coverage, terms and conditions track the primary policy.
OCCUR or CLAIMS MADE - check the appropriate check box. We have a good post on the difference between Occurrence and Claims Made coverage HERE.
DED - stands for Deductible.
Enter a check mark in either the Deductible or Retention box.
Deductibles and Retention - self insured retention - are not the same. They differ in the responsibilities of the carrier when a loss occurs, defense costs, collateral requirements, limits erosion and certificates of insurance details.
Generally speaking I have been told the deductible is more favorable to the insured. My Daddy always told me for a variety of reasons that it is always best in the event of a loss to have all your policies with the same carrier.
ENTER the AMOUNT of the Deductible r the Retention in the blank space to the right of the $ sign.
LIMITS
Enter the dollar amount of the limit for the coverage below if that coverage is provided by the policy listed to the left of this space.
EACH OCCURRENCE
AGGREGATE
BLANK - enter your own coverage and then enter the amount.
WORKERS COMPENSATION AND EMPLOYERS' LIABILITY
Put an "Y" for yes or an "N" for no in the check box nest to the question "ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED?"
If anyone is excluded, describe in the REMARKS section on this form.
LIMITS
Under Limits, to the best of my knowledge and research, all states have limits per Statute, so you would always check this. Some states allow the business to purchase limits in excess of the statutory limits. You need to ask your underwriter if that is available in the state in which you are providing coverage.
Under limits there are three lines which start with E.L This stands for Employers Liability. This provides coverage that protects the company in the event that an employee alleges that the employer's negligence or failure to provide a safe work place was the cause of the employees's illness or injury. refer to your actual policy for these limits.
BLANK ROW - Policy Type Not Listed ABOVE
If there are other policies you need to list on this certificate of garage insurance you will use this space to type in all the appropriate information about that policy.
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