Apartments, commercial buildings, buildings under construction, vacant buildings

Commercial buildings

 

When it comes to protecting the future of your business, commercial property insurance might be the most important coverage. 

 

Commercial property insurance is designed to protect:

your building or office, 

your inventory,

any outdoor signage,

landscaping and fencing,

additional structures.

 

Apartments

 

Protecting your multi-unit residential housing investment is much different than insuring any other kinds of properties. Being an owner of such a building you must know that tenants will rely on you during a crisis. Your ability to quickly fix your residential property is essential.

Business Owner Policy (BOP) for apartment buildings is designed to cover property and liability exposure that are associated with multi-unit residential buildings. This coverage will protect you from financial loss, damage, liability, and business interruption that can result from unexpected situations including theft, disaster, lawsuit, and breakage.

 

Building under construction

 

Builder’s Risk Insurance is a form of property insurance which covers a building where the building is under construction. It can cover just the structure, the materials onsite waiting to be installed and/or the materials being transported to the job site.

 

Here is some important information that you should know about builder's risk policy:

  • the insurance will not cover the property of others,

  • sub-contractors are required to have their own insurance,

  • there is no coverage for tools or equipment,

  • no coverage for liability,

  • it does not cover accidents in the job site,

  • usually coverage ends when the building is completed or occupied,

  • the premium for the annual policy is FULLY EARNED.

 

Vacant buildings

 

A home is “vacant”- as defined by the courts- if it does not contain enough furniture for a resident to reasonably live there or is without content or occupant.

Vacant home insurance can often be purchased monthly. Unfortunately, a policy covering an empty house costs more than a policy that insures its contents because vandalism is very costly to fix.

The coverage is very limited, so it might be a good idea to talk to your agent about an alternative.

 

Call one of our experienced agents to discuss more details.

 

Our contact number is: 773-777-1040