FREQUENTLY ASKED QUESTIONS
How much will my insurance cost?
We offer a competitive & affordable premium with coverage backed by Lloyds of London – however, pricing cannot be determined until our Underwriting Department has reviewed a completed application.
How do I get a quote? How long does it take to get a quote?
We need a completed application returned to provide pricing and requirements. The normal turnaround time for a quotation is 2-3 business days. If you need a quote sooner, call our office once you submit the application, to confirm we have received it, and to let us know it is urgent.
What limits of insurance do I need?
Protecting your assets can require different limits. Consider what you have to lose in the event of a lawsuit being filed against you or your business. This may depend on if you have a lease you need to comply with. The most requested limit is $1,000,000.
Why am I charged a tax?
We write insurance through “Surplus Lines Carriers”. Each state requires we file taxes for each policy.
What is a Broker Fee?
This is our service fee for handling the account and issuing the policy.
Do I need to have General Liability if the business I rent space from already has this coverage?
Definitely. The General Liability policy of the business you rent space from most likely covers only their operations and clients coming into to their business. You are a separate entity since you rent a space from another business. Insurance provides peace of mind with coverage for incidents involving your clients.
Why are you requiring me to sign a State Form?
This form is telling you that the insurance company we write with, Lloyds of London, is not located in the US. If they were to go bankrupt, your state wouldn’t pay your claims. We are required by law though to tell you this. Our carrier, Lloyds of London, is the oldest insurance company in the world, they have been around for 300+ years. They have their own multi million dollar guarantee fund and are one of the largest most stable companies on the globe.
Where should I submit my completed application?
Once you have completed the application, scan/email to Info@ppibcorp.com, take high-quality pictures with a smart phone/email to Info@ppibcorp.com, fax it to (415)475-4303 or mail the application to 371 Bel Marin Keys Blvd, Suite 220, Novato, CA 94949.
Can I use a digital signature on my application and state forms?
We can accept digital signatures on the applications and state forms.
Do you offer payment plans?
If your premium exceeds $1,000, we offer payment plans through an outside finance company. This would consist of 9 monthly payments and be subject to an interest rate. A down payment is required for 35% of the total. Payments can be set up as automatic bank withdrawals.
I am an Independent Contractor, should I purchase my own policy?
Purchasing your own policy gives you the flexibility to have coverage follow you wherever you go and you control the process.
Should my technicians obtain their own policy, or should I cover them under the business policy?
We can do it both ways. It’s more a business decision that depends on whether they are your employees or if they are independent contractors. If they are your employees, you should have them covered under your policy. If you have independent contractors, it will depend on what you work out with them. If you cover them on your policy, you are assured of coverage and do not have to spend time making sure they have the right type of insurance and getting proof of coverage certificates.
Is coverage available for artists/piercers doing a guest spot?
We can extend coverage to guest artists/piercers as long they have at least one year experience and do not stay more than 30 days. When you put a guest artist/piercer on the schedule, simply give us a call before they start and we can add that person to your policy for a pro-rated premium. If you plan to have many guest artists/piercers in your shop through the year, you may benefit from our revolving Blanket guest artist/piercer slot. This makes sense if: A) there is only one guest artist/piercer at a time and B) the artist/piercer does not stay more than 30 days and C) the artist/piercer has at least a year experience. This low cost options means you do not have to call us every time someone comes and goes. Only requirement is you keep records of the guest artist/piercer’s name and when they were working at your shop in case of a claim.
Do you cover Microblading?
Microblading is part of our Permanent Makeup program. A certificate of training including the amount of hours of instruction is required.
What if I have insurance but it does not cover Permanent Cosmetics or Microblading?
If desired, we can offer you a standalone policy for microblading and/or permanent makeup.
Can I add more services to my policy as I grow my business?
Yes, at any time during your policy term, you can contact Customer Service and request an endorsement. Additional forms and/ payment may be required.
What if I repackage products and resell them under my private label?
By putting your name on a product, the liability to you is increased because people normally sue the name on the product if something goes wrong. Coverage can be added for this - contact us to discuss Private Label Products. It requires an application showing products being sold and estimated income for product sales.
Can you assist me to make sure I am following all local or state licensing requirements?
It is up to each person practicing to know what professional license is required and what city, county and state licensing requirements are. Since we write in all 51 jurisdictions in the US, and we offer many professional programs, it is physically impossible for us to keep up with all the legal requirements. Usually the state licensing board can help you out with this.
How long should I keep my completed Client Consent Forms?
Check your state as to what the statute of limitations are for your service. Statutes of limitations are usually a minimum of 2 years with some states going to 6 or more years.
Do I need to complete an application when I am renewing my policy?
Yes, our contract with the insurance carrier requires us to receive a completed application with a fresh signature/date at every renewal.
Do I need to complete the section of the property application requesting the details of the building I lease? Such as year built, year electrical and plumbing were last updated?
If the building is more than 20 years old, the insurance carrier requires the most recent updates to the plumbing/wiring/roofing of the building rented or leased by you and your business. This may require a conversation with your landlord. If the information is unavailable, we can send out an Inspector for a fee of $150 + taxes.
If I cancel my policy, will I get any money back?
Upon receipt of a completed, signed/dated Cancellation Form, our accounting department will calculate any unearned premium. This is set down by policy terms.
Do I need to be appointed to get a quote?
No, we can offer you a quote without you being officially appointed, but we will need to have you appointed in order to bind. To become appointed, will need a copy of the Agency’s license, copy of the declarations page of the Agency’s E&O policy and the completed, signed and dated Broker application.
What is needed to bind a quotation?
The ‘Binding Requirements’ section of the quote letter outlines what is needed in order to bind coverage.
Can we file our own taxes?
Our carrier requires us by contract to file all surplus lines taxes.