Insurance 101 - What You Need To Know

Insurance 101

Frequently Asked Questions

  1. Why do I have to purchase Excess Accident Medical with Participant General Liability?
  2. How long does it take to get a quotation?
  3. I live in a different state; does this prevent you from selling me insurance?
  4. I don't know the exact number of participants/attendance, what should I do?
  5. How does the insurance buying process go?
  6. I have a claim, what should I do?
  7. My event will take place outside of the country, does this matter?
  8. How do I pay for my coverage?
  9. I will be having BYOB (Bring Your Own Bottle) alcohol at my event, will this be a problem?
  10. How do I receive/make requests for my Additional Insured certificates?
  • Why do I have to purchase Excess Accident Medical with Participant General Liability?
  • It might help to look at these two types of coverage like this: Excess Accident Medical quotes offer to pay for a certain limit of medical costs while Participant General Liability quotes help to cover defense costs and settlements if a claim is filed against you. It's our carriers' philosophy that offering to pay for an injured person(s) medical coverage could help prevent the filing of a Participant General Liability claim; General Liability claims tend to be much more expensive and time consuming than stand alone medical costs. Packaged together, these two types of coverage are the most comprehensive insurance we offer.
  • How long does it take to get a quotation?
  • Frazier Insurance Agency prides itself on prompt and efficient customer service. Once we receive a completed, correct application it typically takes between 1 to 3 business days to receive a written quotation. If you need same day quoting on a rush basis, please call our office for assistance--we can handle such requests. Please note: some policies need more underwriting attention than others, so more time might be needed to process such applications.
  • I live in a different state; does this prevent you from selling me insurance?
  • Our office is located in Richmond, VA; however, we are licensed to conduct business in all 50 states. If your type of sports or events allows for traveling between state lines, don't worry, our policy will cover you wherever you go.
  • I don't know the exact number of participants/attendance, what should I do?
  • There are many factors we used when rating a quotation, however participant/attendance numbers are especially important. We understand that some events don't easily lend themselves to accurate participant/attendance reporting, however we are flexible enough to use an estimated range in order to still issue a quotation. Our agents are always available to answer specific participant/attendance questions.
  • How does the insurance buying process go?
  • As mentioned before, we understand how intimidating the insurance process can be. That is why we want you to be aware of the process our office employs to get you the type of coverage you need. The first step in the insurance process is done by you, the insured, by filling out one of our specific applications. The amount of information provided is critical in allowing us to get back to you as quickly as possible. Once we rate the application, we will send back a quotation promptly. The quotation will tell you a number of things, depending on what you requested on your application; the total cost of premium, limits of coverage, and policy exclusions are explained in detail. Once you have looked over the quotation to your satisfaction, you can request our office to "bind" coverage. This simply means you wish to purchase insurance. Once we receive payment of the total premium, via check or credit card, we will then issue and send you all certificates of insurance. If you have any questions at all during or after you purchase insurance from us, we will be happy to answer them.
  • I have a claim, what should I do?
  • Depending on which type of policy you purchase with us, each has its own specific type of claim form. The important thing to remember when filling out one of these forms is detail and documentation. Hold onto all documents about injuries or hospital visits and read the directions carefully before you send these off to the insurance carrier or our office. As always, if you have any questions during the claim filing process, our agents will be happy to assist.
  • My event will take place outside of the country, does this matter?
  • Frazier Insurance Agency is licensed to conduct business in all 50 states, but insurance laws vary greatly from country to country. We will be able to defend our named insured from any claims filed inside U.S. Courts; however, if a claim is filed in a foreign court our policy would not be able to offer adequate coverage.
  • How do I pay for my coverage?
  • There are multiple ways you can pay for coverage: one is by sending a signed check to our P.O. Box. If you would like to overnight a check for quick turnaround, please make sure to mail it to our physical office address, once again listed in the same section. We currently accept credit card payments as well. If either of these options will not work for you, please call our office and we will be happy to assist you.
  • I will be having BYOB (Bring Your Own Bottle) alcohol at my event, will this be a problem?
  • Our carriers strictly prohibit BYOB at any of our insured's events, so this would be grounds for denying an application for coverage. Please refer to our Definitions section for a full explanation of all appropriate methods for having alcohol coverage at your event (i.e. Host Liquor/Liquor Legal).
  • How do I receive/make requests for my Additional Insured certificates?
  • Some venues/government organizations/sponsors, etc. may require you to name them as "Additional Insured" on your policy. This is very normal and we handle such requests everyday. If you already know the organization or entity which needs to be named as an additional insured, there is room on our applications to place this information. However, if you do not know this information at the time of quotation--this will not be a problem.