General Liability, Professional Liability (E&O)
and Care, Custody and Control
LIMITS OF LIABILITY:
General Aggregate Limit $2,000,000
Products-Completed Operations Aggregate Limit $1,000,000
Each Occurrence Limit $1,000,000
Personal and Advertising Injury Limit $1,000,000
Fire Damage Limit $50,000 Any One Fire
Medical Payments Limit $5,000 Any One Person
COVERAGE OPTION: E & 0 Form Included in above policy limits — if accepted
COVERAGE OPTION: Care, Custody & Control $10,000 Per Item, subject to $50,000 Ocurrence Limit and $100,000 Annual Aggregate — if accepted
No Membership Limit $5,000 Per Item, subject to $25,000 Occurrence Limit and $50,000 Annual Aggregate — if accepted
DEDUCTIBLE: $500 Per Claim (NOTE: $1,000 deductible available for $40 credit)
AUDIT BASIS: Estimated Gross Revenues: $150,000
PREMIUM — TRIA (if accepted): (Additional $150 — subject to SL tax)
POLICY PREMIUM IS SUBJECT TO SURPLUS LINES TAX — MI SL Tax is 2.5% plus $150 filing fee in addition to the premium.
The description herin is a summary indication only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Coverage may not be available in all jurisdictions. Issuance of coverage is subject to underwriting.
* In order to qualify for premium credits you must be a member of the MSAA and agree to
(Michigan Senate Bill No. 603) comply with occupational code voluntary registration.
This program is endorsed by the MichiganState Auctioneer’s Association for its members.
The MichiganState Auctioneers Association (MSAA) is not an insurer, and is not making representations regarding the insurance coverages afforded or the suitability for individual members. Applicant acknowledges that by making application for insurance coverage, the applicant hereby agrees to indemnify the MichiganState Auctioneers Association and hold MSAA harmless from any claims therefrom, including attorney's fees.
