Provides coverage for a financial loss for direct physical loss or damage to covered property at the premises described in the policy when caused by or resulting from a covered cause of loss. Coverage is provided on an all risk form, which covers all causes of loss, except those specifically excluded from coverage, on an agreed amount (removes coinsurance requirement) basis with full replacement cost (replaces property with new property of like kind and quality).
Coverage Extensions:
- Flood Coverage
- Building Ordinance
- Earthquake Coverage
Policy provides the insurance protection needed to pay damages for bodily injury or property damages for which the insured is legally responsible for damages arising out of ownership or occupancy of the insured premises.
Additional coverages include:
- Medical payments
- Fire damage
- Personal Injury
- Employee Benefits
- Non-Owned & Hired Autos
Boiler and machinery insurance is necessary because commercial property policies exclude explosion of steam boilers and breakdown of machinery. An additional benefit of boiler and machinery insurance is the inspection service that insurers provide to the insured. Coverage is provided for any boiler, any fired or unfired pressure vessel, any refrigeration or air conditioning equipment, and any mechanical or electrical equipment. The limit of coverage is determined on the estimated value of the insured's property.
Crime Coverage:
- Employee Dishonesty - Coverage is provided for dishonest acts of employees of the named insured. Coverage insures against loss of money, securities, and property other than money and securities.
- Forgery or Alteration - This form insures against loss caused by the forgery or alteration of a covered item drawn against the insured's accounts. A covered item might be a check, draft, promissory note, bill of exchange or similar instrument.
- Computer Fraud - Computer fraud is a specialized kind of theft where a computer is used to steal property from its rightful owner.
Workers Compensation:
Provides workers' compensation and other benefits required of the insured by the workers compensation law or occupational disease law of any state listed in the policy.
Directors & Officers Liability for Non-Profit Entities: Provides coverage for losses which result from wrongful acts committed by the Insured. Coverage is available for Cooperatives, Condominiums and Homeowners Associations.
Coverage includes:
- Duty to defend
- Coverage for Directors, Officers, Trustees, Employees, Volunteers and Committee Members
- Employment Practices Liability
- Spousal extension
- Management company
- Defense for breach of contract claims.