Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
A. 25 BUYER BEWARE WARNINGS
A loan commitment is not necessarily the same as cash immediately available.
LTC and LTV measure different things; don’t confuse them.
The lender may calculate eligible project costs differently from your budget.
Some soft costs may be excluded or limited.
Your land value may not count as equity dollar-for-dollar.
Construction funds are commonly released through controlled draws.
Draw delays can create cash-flow problems even when the project is profitable on paper.
Interest reserves may be inadequate if construction runs late.
A contingency is not permission to underestimate the project.
Change orders can destroy a previously workable budget.
A low contractor bid may omit important scope.
Contractor experience matters as much as the headline price.
Permits and approvals can become financing bottlenecks.
Utility, drainage, access and site conditions can create major unexpected costs.
Construction schedules are estimates, not guarantees.
Your loan may mature before the project is ready for sale or refinancing.
A future permanent loan is not automatically guaranteed.
A future sale is not automatically guaranteed.
The completed property may appraise below your projection.
Cost overruns may become your responsibility.
Personal guarantees can expose assets outside the project.
Default provisions can become extremely expensive.
Extension options may involve additional fees or stricter conditions.
A profitable project can still fail because of a liquidity shortage.
The most important question is not “Can I get the loan?” but “Can I finish the project if things go wrong?”
B. PREMIUM CONSUMER BUYER CHECKLIST
MISSION
Determine whether the proposed financing can realistically carry the project from land/acquisition → construction → completion → sale/refinance under both normal and adverse conditions.
1. PROJECT DEFINITION
☐ Property and parcel identified ☐ Intended use documented ☐ Plans/specifications available ☐ Construction scope defined ☐ Current land/acquisition basis documented ☐ Existing liens identified
2. TOTAL PROJECT COST
☐ Land/acquisition cost ☐ Hard construction costs ☐ Architecture/engineering ☐ Permits ☐ Surveys ☐ Legal/title/closing costs ☐ Insurance ☐ Taxes ☐ Financing costs ☐ Interest/carrying costs ☐ Marketing/sales costs ☐ Contingency ☐ All known costs reconciled to one master budget
A construction financing package should reconcile plans, budget, schedule, permits, contractor, equity and exit rather than treating the loan application as an isolated document.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
Bridge financing is temporary by design.
The exit strategy is therefore critical.
Refinancing is not guaranteed.
Property values can change before the bridge matures. Interest rates can change.
Loan extensions may be expensive.
Exit delays can dramatically increase total cost.
Fees can be overlooked when focusing on speed.
Appraisal assumptions may prove optimistic.
Construction delays can extend the loan.
Permitting delays can destroy the timeline.
A pending sale may fail. A buyer’s financing may collapse.
The lender may require substantial reserves.
Personal guarantees can increase exposure.
Cross-collateralization can create additional risk.
Prepayment provisions can matter.
Default provisions need careful review.
The cheapest bridge may not have the safest structure.
The borrower can become trapped between two financing events.
A delayed exit can turn a profitable project into an expensive one.
“Guaranteed refinance” should be treated cautiously.
The exit lender may apply different valuation standards.
You need a backup plan before the bridge begins.
A bridge loan should be evaluated primarily by the strength of the bridge’s exit.
Premium Checklist
Purpose
☐ I can explain precisely why bridge financing is necessary.
☐ I know what event will repay the loan.
☐ I have documented the expected repayment date.
Cost
☐ Principal verified.
☐ Interest rate verified.
☐ Points verified.
☐ Origination fees verified.
☐ Legal/document fees verified.
☐ Extension fees verified.
☐ Exit costs verified.
Timeline
☐ Best-case timeline calculated.
☐ Expected timeline calculated.
☐ Conservative timeline calculated.
☐ Delay scenario calculated.
☐ Monthly carrying cost calculated.
Exit
☐ Sale strategy documented.
☐ Refinance strategy documented.
☐ Backup exit documented.
☐ Exit valuation independently tested.
☐ Required refinancing conditions identified.
Stress Test
☐ Exit delayed 3 months.
☐ Exit delayed 6 months.
☐ Exit delayed 12 months.
☐ Property value falls 10%.
☐ Property value falls 20%.
☐ Refinancing becomes more expensive.
Final Question
“What happens if the event that is supposed to repay this loan doesn’t happen on schedule?”
If you don’t have a financially survivable answer, the bridge may be carrying you toward a cliff rather than across one.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
Fast funding can conceal expensive financing.
Interest rate alone doesn’t reveal total borrowing cost.
Points can materially increase effective cost.
Origination fees may be substantial.
Loan-to-value isn’t the only underwriting metric.
The lender may value the property differently from you.
A low purchase price doesn’t guarantee sufficient collateral.
Interest-only payments can hide the eventual payoff obligation.
Balloon payments can create refinancing risk.
Short maturities create exit pressure.
Extension options may cost extra.
Default provisions can be severe.
Prepayment penalties can reduce flexibility.
Personal guarantees can put unrelated assets at risk.
Cross-collateralization can expand the lender’s security.
Construction draws may have conditions.
Delays can increase carrying costs.
Renovation assumptions can be overly optimistic.
The lender’s appraisal isn’t necessarily your investment thesis.
A successful purchase can still become a failed loan exit.
Refinancing isn’t guaranteed.
Market changes can destroy the expected exit.
Legal/documentation fees can add significant cost.
“No income verification” doesn’t mean “no risk.”
The most important question is often how the loan gets paid off, not how it gets obtained.
Premium Checklist
MISSION: Determine whether the financing remains survivable if the investment takes longer, costs more, or sells for less than expected.
Financing
☐ I know the exact principal.
☐ I know the stated interest rate.
☐ I know the effective cost including points and fees.
☐ I know the loan maturity.
☐ I know whether payments are interest-only.
☐ I know the balloon amount.
Property
☐ I have independently evaluated the property.
☐ I have independently estimated after-repair value.
☐ I have created a conservative renovation budget.
☐ I have included contingency reserves.
☐ I have calculated carrying costs.
Exit
☐ I have identified the planned exit strategy.
☐ I have identified a backup exit strategy.
☐ I know what happens if the property doesn’t sell on schedule.
☐ I know what happens if refinancing isn’t available.
☐ I have calculated the investment’s break-even sale price.
Loan Contract
☐ I understand default provisions.
☐ I understand late fees.
☐ I understand extension costs.
☐ I understand prepayment penalties.
☐ I understand personal guarantees.
☐ I understand collateral requirements.
☐ I understand cross-default provisions.
Stress Test
Calculate:
Maximum survivable delay = available cash reserve ÷ monthly carrying cost
Then test:
☐ 3-month delay
☐ 6-month delay
☐ 12-month delay
☐ 20% renovation overrun
☐ 10% lower sale price
☐ Higher-than-expected refinancing cost
Final Question
“If my exit fails for 12 months, can I still survive this loan?”
If the answer is no, the financing may be controlling the investment rather than supporting it.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
The cheapest premium may provide dramatically less protection.
Replacement cost and actual cash value are not the same.
Policy limits can be too low to rebuild the property.
Business personal property may have separate limits.
Equipment may have exclusions or sublimits.
Flood may not be covered by the standard policy.
Earthquake coverage may be excluded.
Wind/hurricane coverage can contain special deductibles.
Ordinance-or-law coverage may be insufficient.
Business interruption coverage can be misunderstood.
“Covered cause of loss” doesn’t mean every resulting loss is covered.
Vacancy can materially affect coverage.
Property under construction may require different protection.
Older buildings can create valuation problems.
Coinsurance provisions can create unpleasant surprises.
Certain valuable items may have sublimits.
Outdoor property may be treated differently.
Signs, fences and landscaping may have limited coverage.
Water damage exclusions can be significant.
Mold coverage may be restricted.
Equipment breakdown may require separate coverage.
Cyber-related property losses may fall outside traditional coverage.
A certificate of insurance does not tell the whole story.
An agent’s summary is not a substitute for reading the policy.
A policy should be evaluated against the worst financially plausible loss, not the monthly premium.
B. PREMIUM COMMERCIAL PROPERTY INSURANCE BUYER CHECKLIST
Mission: Determine whether the proposed commercial property insurance actually protects the business against the losses that could materially damage or destroy it.
Don’t ask whether the policy is cheap. Find out what happens when you actually need it.
How to use: Complete this checklist before purchasing, renewing, or materially changing coverage.
Scoring
☐ 2 points — verified/documented
☐ 1 point — partially verified
☐ 0 points — unknown/unverified
Interpretation
Score
Assessment
90%+
Strongly documented
75–89%
Generally prepared
50–74% Below 50%
Significant gaps High information risk
Important: A high score does not guarantee that a policy is adequate. It means you’ve done a better job investigating it.
SECTION 1 — Know What You’re Actually Insuring
☐ 1. I have a complete description of every property location being insured.
☐ 2. I have verified who legally owns each property.
☐ 3. I have identified leased, rented, borrowed or temporarily occupied property.
☐ 4. I have listed buildings, structures and improvements separately.
☐ 5. I have created an inventory of business personal property.
☐ 6. I have identified major equipment and machinery.
☐ 7. I have identified outdoor property that matters financially.
☐ 8. I have identified signs, fencing, landscaping and exterior installations.
Why this matters: You cannot adequately insure assets that haven’t been properly identified.
SECTION 2 — Determine the Real Replacement Cost
☐ 9. I know the estimated replacement cost of the building.
☐ 10. The valuation reflects current construction costs rather than the property’s purchase price.
☐ 11. I have considered demolition and debris-removal costs.
☐ 12. I have considered increased construction costs following a major disaster.
☐ 13. I have considered architectural and engineering expenses.
☐ 14. I have investigated whether local building-code requirements could increase rebuilding costs.
☐ 15. I have reviewed whether ordinance-or-law coverage is adequate.
Buyer Question
“If this building were completely destroyed tomorrow, what is the maximum amount this policy would actually contribute toward rebuilding it to today’s requirements?”
SECTION 3 — Understand the Valuation Method
☐ 16. I know whether the policy uses replacement cost or actual cash value.
☐ 17. I understand how depreciation affects a claim.
☐ 18. I know whether different classes of property use different valuation methods.
☐ 19. I have asked whether special valuation rules apply to older buildings.
☐ 20. I have reviewed any coinsurance requirement.
☐ 21. I understand the consequences of underinsuring the property.
Red Flag: The buyer knows the property’s market value but has never calculated its insurance replacement cost.
SECTION 4 — Identify What Can Actually Cause a Loss
Create a Property Loss Threat Inventory:
Threat
Relevant?
Covered?
Deductible
Limit/Sublimit
Fire
☐
☐
$___
$___
Wind
☐
☐
$___
$___
Hurricane
☐
☐
$___
$___
Flood
☐
☐
$___
$___
Theft
☐
☐
$___
$___
Vandalism
☐
☐
$___
$___
Water damage
☐
☐
$___
$___
Earthquake
☐
☐
$___
$___
Equipment breakdown
☐
☐
$___
$___
☐ 22. I have identified the major physical threats to the property.
☐ 23. I have verified whether each major threat is covered, excluded or separately insured.
☐ 24. I have documented the deductible for each major threat.
☐ 25. I have documented relevant sublimits.
SECTION 5 — Investigate Exclusions
☐ 26. I have obtained the actual policy wording.
☐ 27. I have reviewed the exclusions rather than relying solely on the agent’s summary.
☐ 28. I have identified exclusions that could create a catastrophic uninsured loss.
☐ 29. I have asked specifically about water-related exclusions.
☐ 30. I have investigated mold limitations.
☐ 31. I have investigated vacancy provisions.
☐ 32. I have investigated construction/renovation provisions.
☐ 33. I have investigated exclusions affecting specialized equipment.
☐ 34. I have identified coverage that requires endorsements or separate policies.
SECTION 6 — Protect the Business From Losing Its Income
A destroyed building can be only half the problem.
☐ 35. I have calculated the business’s average monthly gross profit/revenue exposure.
☐ 36. I have estimated how long the business could realistically be disrupted after a major loss.
☐ 37. I have reviewed business-income coverage.
☐ 38. I understand the waiting period/time deductible.
☐ 39. I understand the maximum indemnity period.
☐ 40. I have considered whether rebuilding delays could exceed the selected period.
☐ 41. I have considered additional expenses necessary to keep operating elsewhere.
☐ 42. I have considered whether supplier/customer disruption could affect revenue.
Critical Question
“If my building disappeared tomorrow, how long could my business survive before insurance payments stopped?”
SECTION 7 — Check the Deductibles
☐ 43. I have listed every deductible.
☐ 44. I know whether deductibles are flat-dollar or percentage-based.
☐ 45. I understand whether certain catastrophes have separate deductibles.
☐ 46. I have calculated the actual dollar exposure created by percentage deductibles.
☐ 47. I could financially absorb every deductible in the policy.
Red Flag: A policy looks inexpensive because the deductible transfers a huge portion of the catastrophe risk back to the business.
SECTION 8 — Compare Policies Correctly
Never compare policies using premium alone.
Create a comparison sheet:
Feature
Policy A
Policy B
Policy C
Annual premium
$
$
$
Building limit
$
$
$
Contents limit
$
$
$
Business income
$
$
$
Deductible
$
$
$
Wind deductible
$
$
$
Flood
Yes/No
Yes/No
Yes/No
Equipment breakdown
Yes/No
Yes/No
Yes/No
Ordinance/law
$
$
$
Replacement cost
Yes/No
Yes/No
Yes/No
Major exclusions
___
___
___
☐ 48. I compared equivalent coverage rather than headline premiums.
☐ 49. I compared deductibles.
☐ 50. I compared exclusions.
☐ 51. I compared sublimits.
☐ 52. I compared business-interruption protection.
☐ 53. I compared endorsements.
SECTION 9 — Ask the Insurance Professional the Questions That Matter
Before purchasing, ask:
☐ 54. “What are the five largest uninsured risks you see in this proposal?”
☐ 55. “Where could a claim realistically be denied?”
☐ 56. “Which limits do you think are most likely to be inadequate?”
☐ 57. “Which exclusions should concern me most?”
☐ 58. “What assumptions were used to calculate the property valuation?”
☐ 59. “What would happen if rebuilding costs were substantially higher than expected?”
☐ 60. “Which coverage would you add if this were your own business?”
☐ 61. “What isn’t included that another insurer might include?”
☐ 62. “Which endorsements are available but not currently included?”
SECTION 10 — DOCUMENTATION & CLAIM READINESS
☐ 63. I have current photographs of the property.
☐ 64. I have an inventory of major equipment.
☐ 65. I have receipts/invoices where appropriate.
☐ 66. I have serial numbers for important equipment.
☐ 67. I have copies of relevant leases and ownership documents.
☐ 68. I have stored important documentation somewhere other than the insured premises.
☐ 69. I understand the basic claim-reporting process.
☐ 70. I know whom to contact if a major loss occurs.
SECTION 11 — FINAL RED-FLAG AUDIT
Stop and investigate further if:
☐ The insurer cannot clearly explain a major exclusion.
☐ The valuation was produced without meaningful property information.
☐ The proposed limits appear arbitrary.
☐ You are comparing premiums rather than coverage.
☐ Catastrophic risks have percentage deductibles you cannot comfortably absorb.
☐ Business interruption has never been calculated.
☐ You haven’t obtained the actual policy wording.
☐ The proposal contains numerous endorsements you don’t understand.
☐ The agent says “that’s standard” instead of explaining the provision.
☐ You cannot explain your five biggest uninsured risks.
FINAL COMMERCIAL PROPERTY INSURANCE TEST
Before signing, you should be able to answer YES to these:
☐ I know exactly what property is insured.
☐ I know how its replacement cost was calculated.
☐ I know the major risks facing the property.
☐ I know which risks are excluded.
☐ I know every major deductible.
☐ I know the important sublimits.
☐ I understand my business-income protection.
☐ I have compared policies on an apples-to-apples basis.
☐ I have identified my major uninsured exposures.
☐ I have documented the questions and answers provided by the insurance professional.
The Ultimate Buyer-Beware Question
“If the worst realistic event happened tomorrow, exactly how much of the resulting financial damage would I still have to pay myself?”
If you don’t know the answer, you aren’t finished evaluating the policy.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
Workers’ compensation rules are jurisdiction-specific.
Employers generally need to understand local requirements.
Employee classification can affect premiums.
Payroll estimates can affect premiums. Independent-contractor classification can create disputes.
Misclassification can create significant consequences.
Different job roles can carry different risk levels.
Experience modification factors can affect premiums.
Claims history can affect future costs.
Safety programs can influence overall risk.
Premium audits can change final costs.
Estimated payroll isn’t necessarily the final payroll used for premium calculation.
Subcontractor certificates should be monitored.
Uninsured subcontractors can create unexpected exposure.
Remote workers may introduce different risk questions.
Multiple jurisdictions can complicate administration.
Employee reporting procedures matter.
Workplace injuries should be handled according to applicable reporting rules.
Fraud prevention matters for both employers and insurers.
Return-to-work programs can affect business disruption.
Experience modification calculations should be understood.
Don’t compare insurers using premium alone.
Ask what services the carrier provides beyond the policy.
Review claims-management performance.
A workers’ compensation policy should be evaluated as both an insurance product and a risk-management system.
☐ Identify every jurisdiction in which employees work.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
Coverage requirements vary by jurisdiction and profession.
Claims-made and occurrence structures differ.
The policy’s retroactive date can be critical.
Tail coverage can become important after certain policy changes.
Prior acts coverage should be understood.
Policy limits should be evaluated against realistic exposure.
Defense costs may interact with limits.
Consent-to-settle provisions can matter.
The insurer’s claims-handling reputation deserves investigation.
Individual and institutional coverage can differ.
Employees and contractors may have different coverage arrangements.
Multiple locations may create additional considerations.
Specialty-specific risks can vary dramatically.
Surgical specialties can have different exposure profiles from other specialties.
Telemedicine can introduce additional questions.
Multi-state practice can complicate coverage.
Licensure changes should be disclosed.
Practice changes should be reported.
Policy exclusions deserve close examination.
Regulatory proceedings may not receive the same treatment as malpractice claims.
Cyber coverage is generally a separate consideration.
Don’t assume the hospital’s insurance protects every independent physician.
Ask what happens when you retire or leave a practice.
Compare tail-cost exposure when comparing claims-made policies.
A low premium can become expensive if the policy leaves a major coverage gap.
☐ Identify every practitioner/entity being insured.
☐ Verify practice specialties.
☐ Verify locations.
☐ Verify policy limits.
☐ Verify aggregate limits.
☐ Review deductible/retention.
☐ Determine claims-made vs occurrence structure.
☐ Verify retroactive date where applicable.
☐ Review tail/extended reporting provisions.
☐ Review prior-acts coverage.
☐ Review exclusions.
☐ Review consent-to-settle provisions.
☐ Review defense-cost treatment.
☐ Review disciplinary/regulatory coverage where applicable.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
Professional liability is not the same as general liability.
Coverage is often connected to professional services.
Definitions of covered services matter.
Policy exclusions can dramatically affect protection.
Claims-made structures require careful attention.
The retroactive date can be important.
Prior acts coverage can matter when switching insurers.
Reporting requirements can be strict.
Late notification can create complications.
Defense costs may interact with policy limits.
Defense inside versus outside limits can materially change protection.
Deductibles or self-insured retentions can be significant.
Contractual liability may be treated differently from negligence.
Certain industries require specialized professional coverage.
Cyber incidents may not be fully addressed by professional liability.
Employment disputes may require separate coverage.
Fraud and intentional misconduct may be excluded.
Regulatory investigations may receive different treatment.
Subcontractor work should be evaluated.
Geographic coverage matters for international businesses.
Policy wording matters more than marketing descriptions.
Compare equivalent retroactive dates when shopping.
Ask what happens when changing insurers.
Have unusual contractual requirements reviewed before purchasing.
Don’t choose solely on premium—compare the actual coverage architecture.
☐ Identify the professional services actually provided.
☐ Identify services excluded from the policy.
☐ Verify coverage limits.
☐ Verify aggregate limits.
☐ Review deductible/retention.
☐ Determine whether coverage is claims-made.
☐ Understand the retroactive date.
☐ Understand reporting requirements.
☐ Understand extended reporting options.
☐ Review exclusions.
☐ Review contractual-liability provisions.
☐ Review prior-acts coverage.
☐ Review defense-cost treatment.
☐ Review consent-to-settle provisions.
☐ Review insurer-appointed counsel provisions.
☐ Review geographic scope.
☐ Review subcontractor exposure.
☐ Review cyber/privacy overlap.
☐ Compare equivalent policies.
☐ Obtain full wording.
☐ Ask for examples of claims that would be denied.
☐ Calculate maximum uninsured exposure.
☐ Document coverage assumptions.
☐ Review annually.
☐ Obtain professional advice for unusual exposures.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
General liability doesn’t cover every business risk.
Property insurance may not cover every type of property loss.
Business interruption coverage has specific requirements and limits.
Professional liability differs from general liability.
Cyber risk may require separate coverage.
Employee-related risks can require different policies.
Commercial auto is generally distinct from general liability.
Product liability can be especially important for manufacturers and sellers.
Policy exclusions deserve as much attention as coverage descriptions.
Coverage limits can be inadequate after a major loss.
Deductibles directly affect your out-of-pocket exposure.
Business valuations and property values can change.
Underinsurance can create serious problems after a claim.
Inventory levels can fluctuate.
Equipment replacement costs may exceed historical purchase prices.
New locations may require policy updates.
Acquisitions can change the risk profile.
New products can create new liability.
Contractors and subcontractors can create additional exposure.
Certificates of insurance aren’t substitutes for policy review.
Policy endorsements can materially change coverage.
Renewal pricing may change substantially.
Claims-made policies can have special timing considerations.
Ask what happens if you stop paying or switch insurers.
Review insurance annually as the business changes—not just when the policy renews.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
The cheapest premium may not be the cheapest policy.
Liability limits need to match the risks of the operation.
Cargo coverage is separate from many liability protections.
Physical-damage coverage may have different deductibles.
Non-trucking liability may apply only in specific circumstances.
Bobtail coverage isn’t necessarily interchangeable with other commercial coverage.
Drivers may need to meet insurer eligibility requirements.
Driver history can affect underwriting.
Vehicle type can affect pricing. Operating radius can affect premiums.
Cargo type can dramatically affect risk.
Hazmat operations can require specialized coverage.
Refrigerated cargo creates additional exposure.
Trailer ownership and use should be disclosed accurately.
Leased-operator arrangements can complicate insurance responsibilities.
Additional insured requirements should be reviewed.
Certificates of insurance don’t necessarily change the underlying policy.
Exclusions can be more important than headline coverage.
Deductibles can materially change total cost.
Claims history can affect renewal pricing.
Policy cancellation provisions matter.
Ask how premium audits work.
Ask whether mileage, payroll, revenue or other metrics affect audits.
Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction. Do not submit confidential, privileged, or highly sensitive information through this page unless specifically instructed to do so.
Determine whether the driver was logged into the platform.
Determine whether the driver had accepted a ride.
Insurance coverage can depend on the driver’s activity at the time.
The driver’s personal insurance policy may also matter.
The rideshare company’s insurance isn’t necessarily identical in every circumstance.
Multiple insurance policies may potentially be involved.
Passenger status can matter.
Pedestrian and cyclist claims can involve different circumstances.
Another driver’s insurance may become relevant.
Preserve trip receipts and ride information.
Don’t delete relevant app communications.
Obtain medical documentation promptly.
Identify witnesses. Preserve photographs of the accident scene.
Vehicle damage can provide reconstruction evidence.
The driver’s employment classification can become legally significant in some disputes.
Insurance companies may dispute which policy applies.
Don’t assume the rideshare company automatically accepts responsibility.
Don’t assume the driver’s insurer will voluntarily maximize compensation.
Settlement offers should be reviewed carefully.
Contingency fees should be explained clearly.
Ask whether litigation costs are separate.
Ask which attorney will actually handle the case.
Ask about prior rideshare litigation experience.
Don’t give a recorded statement or sign a settlement without understanding what you’re giving up.
☐ Verify licensing.
☐ Confirm rideshare accident experience.
☐ Identify whether driver was logged into the platform.
