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What is an occurrence insurance policy


What Is an Occurrence Insurance Policy? An occurrence policy provides coverage for incidents that happen during your policy period, regardless of when you file a claim. These policies can be more expensive than a claims-made policy because of how long coverage applies.

What is an example of an occurrence in insurance?

An occurrence is a single event that results in a single insurance claim. In home insurance, common occurrences include break-ins, fires, burst pipes, or even a dog bite that leads to a liability claim. Each incident for which a homeowner could make an insurance claim is one occurrence.

What is the difference between occurrence and claims-made insurance?

An occurrence includes a single event and any harm that is repeated or continues as a result of that event.

What is considered an occurrence?

Occurrence Basis — for coverage to be provided, the act giving rise to a claim needs to occur within the policy period. The claim does not need to be reported during the policy period.




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