Good evening,
I have gotten a quote for a "New occurance" policy and not a "claims-made" policy. $842 per year, $1,000 deductible and $1m/$5m limit. The agent has almost persuaded me into getting this policy, saving me $1,500 a year in premiums. Even if the policy is not renewed after the 12 months and I would get out of the business, they told me that if I had this insurance and a claim was made during the time the policy was in effect, I could come back to them and they would pay the claim.
I have never heard about this type of insurance until now.
Looking for some thoughts/concerns on this type of policy.
Thanks.
Loretta
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