Key coverages built-in to the CNA Connect® base policy:
Coinsurance — CNA Connect® waives coinsurance. Not every business owners policy does this; many carriers still charge a coinsurance penalty on building or business personal property that is not insured to value.
Business Income and Extra Expense — Coverage is automatically included on a 12-month Actual Loss Sustained basis, with options to increase up to 24 months, which many competitors do not offer. Additionally, many competitors have a specific waiting period and payroll limitation, which CNA Connect® does not have.
Business Income and Extra Expense, Dependent Property — Coverage is included at a $10,000 limit with the option of increasing limits to $1,000,000, if needed. Many competitors offer lower limits, or do not offer this coverage in their base product.
Extended Business Income — Coverage is automatically included at 60 days, with options to select up to 365 days, which most competitors do not provide.
Business Personal Property — The Business Personal Property (BPP) limit at the described premises also applies to BPP in transit and off premises (up to 60 consecutive days at a temporary location). Many competitors include a small sub-limit for BPP in transit or fewer days for BPP at temporary locations.
Equipment Breakdown — Is included as a cause of loss, with an option to exclude if desired.
Business Income Loss as a Result of Equipment Breakdown — We cover this on an Actual Loss Sustained basis. Many competitors do not include this level of coverage and have a waiting period.
Inflation Guard — CNA Connect® includes an inflation guard of 3 percent for Building and Business Personal Property coverage with additional percentage options available.
Money and Securities — Coverage is included within the definition of Business Personal Property and up to the BPP limit. Many competitors do not include money and securities in the definition of BPP and only provide minimal limits.
Computers, Software and Data (EDP) — We include coverage at $50,000 for on premises EDP. This is in addition to the Business Personal Property limit.
Computers Off Premises, including Laptops and PDAs — We include coverage worldwide at a $25,000 limit. Higher limits are available. Many competitors do not include worldwide coverage and only provide minimal limits of $1,000 to $5,000.
Business Income/Extra Expense as Result of a Computer (EDP, including website) Loss — We cover this on an Actual Loss Sustained basis with a 12-hour deductible. Many other business owners policies have a short time limit or small maximum dollar limit included.
Targeted Hacker Attack — Coverage is included at a limit of $25,000 Direct Damage and $25,000 Business Income. Coverage is provided when employees or customers hack into the insured’s computer systems and cause damage.
Employee Dishonesty — Coverage is included at a $25,000 limit, with options up to $1,000,000 available. Many competitors do not include any Employee Dishonesty coverage in their base form, while others include a minimal amount of $10,000 with maximum options up to $250,000.
Forgery and Alteration — Coverage is included at $25,000 limit, with options up to $1,000,000 available. Many competitors include a small amount with no options to increase.
Fine Arts — Coverage is included at $25,000. Many competitors only include limits of $5,000 or $10,000 and do not value Fine Arts with market value as we do. Limits up to $1,000,000 available.
Identity Theft/Recovery for Business Owners — Coverage is included at $25,000. Many competitors do not have this coverage available, or provide a lower limit.