Frequently Asked Questions
Understanding Your Policy
How does program insurance work?
By purchasing through the BBI Program, you save money on insurance premiums because you are part of a risk purchasing group (an RPG). An RPG is a legal entity that allows groups or persons with similar liability risks to take advantage of a joint insurance purchase. An RPG is not an insurance company, and there is no additional risk assumed by the RPG members. The RPG allows the group to gather purchasing power to obtain insurance at a significant cost savings. You don't share coverage limits with the rest of the group, just savings on your premium.
IS MY PRACTICE/TECHNIQUE/METHOD COVERED?
Policyholders must be in compliance with all federal, state, and local regulations. For example, if your state requires you to have a license before practicing, you must have that license in order for the policy to be valid.
You can find a list of the practices, techniques, and methods the BBI policy does not cover here..
Who Is the Insurance Carrier?
Your insurance coverage is provided through the Great American Alliance Insurance Company, an A+ rated carrier.
What Does General Liability Cover?
It covers bodily injury, property damage, and personal & advertising injury claims (to which the policy applies) that you become legally liable to pay to the third party due to your negligence.
What Does the Professional Liability Policy Cover?
The professional liability policy will pay damages and claim expenses arising out of any negligent act, error, or omission in rendering or failure to render professional services.
WHAT IS A RETROACTIVE DATE (RETRO-DATE)?
If you purchased a professional liability policy in the past, and that policy has continually remained in force without a lapse in coverage, a retro-date should appear on your professional liability policy. This date represents the beginning of your professional liability coverage and may be several years in the past. It is important to keep the retro-dates from one policy to the next the same. Any claims on a loss or injury that took place prior to the retro-date will not be covered under the policy.
If you have not purchased professional liability coverage in the past, or if you had a lapse in your professional liability coverage, your effective date and retro-date may be the same.
WHAT DOES DAMAGE TO RENTED PREMISES COVER?
If you enter into a rental or lease agreement to occupy a premises for seven or more days, we will provide coverage to that premises for damages (by a fire only) up to the limit shown on the certificate of insurance.
Purchasing Your Policy Online
HOW DO I GET A QUOTE?
You can complete an application by clicking on Buy Policy.Once the application is fully complete you can buy the policy immediately online.
ARE THERE MONTHLY PAYMENTS?
No, the premium is due upfront for the whole year. If you need some time to save up before you can purchase, please take advantage of our “Remind Me” tool so you don’t forget.
When is My Insurance Effective?
Your insurance policy becomes effective immediately after your online payment is verified. The verification process takes only seconds. You can print your insurance certificate immediately after purchasing, and if you need to add additional insureds, you can do so right away at no extra cost.
CAN I “FUTURE DATE” THE START OF MY POLICY?
Yes, your effective policy date can be up to 30 days past your purchase date.
HOW LONG IS MY POLICY COVERAGE?
BBI policies are annual, so your policy will provide you coverage for twelve months from the effective date you select. You will also see the effective and expiration dates listed on your proof of insurance document, which is accessible from your online account.
CAN I CANCEL MY POLICY?
Because our policies are 100% earned, we regret that we cannot offer refunds once coverage begins.
HOW DO I ACCESS MY POLICY DOCUMENTS?
You can access your policy at any time by logging in to your customer portal.
WHAT IS AN ADDITIONAL INSURED?
An additional insured is a person or organization (not an employee or a friend) that can be added to your insurance policy by endorsement. When you provide additional insured status to a person or organization, your policy will protect that additional insured for claims arising out of your negligence.
For example, if you rent a chair at a salon that requires you to name that salon as an additional insured, your policy will provide coverage to the salon if a bodily injury or property damage claim occurs during your operations and the salon is held liable for your negligence.
CAN I ADD AN ADDITIONAL INSURED AFTER I PURCHASE MY POLICY?
Yes. Just log in to your account on the website, and you will be able to print off your certificates within minutes.
IS THERE A COST TO ADD AN ADDITIONAL INSURED?
When adding an additional insured, you have three options to choose from. For $15, you can add one additional insured, or for $30, you can add an unlimited number of additional insureds as needed.
Making a Claim
WHAT IS A CLAIMS-MADE POLICY?
On a Claims-Made policy, the claim or incident must occur during the policy period and be reported to us during the policy period or extended reporting period. The BBI policy is a claims-made policy.
WHAT IS A DEDUCTIBLE?
A deductible is the amount of a loss that is your responsibility.
WHAT IS AN EXTENDED REPORTING PERIOD?
The extended reporting period is a designated amount of time provided after the claims-made policy has expired in which you can report a claim or incident. You may not report any claims or incidents after the extended reporting period time has expired.
Renewing Your Policy
DOES MY POLICY AUTOMATICALLY RENEW?
When purchasing your policy, you'll be given the option to have it automatically renew at the end of the policy term. You may opt in or out of automatic policy renewal at this time. If you decide to change your automatic renewal preferences, you may do so on your customer dashboard.
HOW DO I RENEW MY POLICY?
To renew your policy, log in to your online account. Click on “My Policies” then click the “Renew” button next to your expiring policy number. The renew button will only be available within 30 days of policy expiration date. Click that button and follow directions provided to you.