How To Read Your Business Owners Policy Declarations
When you purchase an Allstate Business Shield policy, you'll receive a Policy Declarations. This document "declares" the choices you've made for your Allstate Business Shield Insurance policy, such as deductibles for some coverages, as well as optional protection you may have purchased. It's important to note that the Policy Declarations is not a bill.
You'll receive a new Allstate Business Shield Insurance Policy Declarations every renewal period, which is typically every 12 months. You should always read through your renewal each year to make certain you're up to date on the latest features of the policy, any changes in premiums or other vital information.
The following is an example of an Allstate Business Shield Insurance Policy Declarations and shows you where to find some of the important information. It's always a good idea to check your own Policy Declarations to make sure all the information is correct.
Limits of Insurance
This shows the maximum limit Allstate will pay for each covered loss*, for each type of coverage.
All optional coverages you've purchased to expand the protection of your business are shown here (or on an additional coverage form).
* What does "covered loss" mean? It's an insurance term that means a loss or damage that falls within the bounds of the policy. Throughout the Business Insurance Made Simple site, when we refer to a loss or accident, we assume it is a covered loss.