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Does my Commercial Property coverage extend to Flood & Earthquake?
No; though earthquake coverage may be added for an additional premium. Flood insurance must be purchased as a separate policy.
Does my General Liability policy cover me if I get hurt?
No; you would need to purchase either a Workers' Compensation policy or Medical and Disability coverage.
Does my policy automatically cover tools that are stolen from the job site?
Not necessarily. Coverage is limited to property within 1000 feet of your premises. You may add additional coverage for an additional premium.
Are my computers covered as "contents" on my Commercial Property policy?
Yes; but if you want broader coverage for such things as power surges and mechanical breakdowns, you may also want to purchase the very inexpensive Electronic & Data Processing coverage.
What is the difference between Replacement Cost (RC) and Actual Cash Value (ACV)?
Replacement Cost is the current cost to replace property. Actual Cash Value is the replacement cost less depreciation.
Turner Barker Insurance is a subsidiary of Gorham Savings Bank.
Insurance products are offered through Turner Barker Insurance.
Product offerings and insurance sold are not deposit obligations of, nor
guaranteed by the Bank and are not covered by Federal Deposit Insurance.
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