|
APARTMENT COVERAGE FEATURES
Choosing insurance for your business is an important decision.
You invest your time, money and effort toward running your business, so you should be confident hat the insurance you purchase will protect your business when you need it most.
Apartment Business owners Policy offers an affordable way for you to obtain Property and Liability insurance. This policy includes key coverage that are important to any business, and also offers additional business-specific options that are important to any apartment owner.
Coverage features
Appurtenant Buildings and Structures are covered up to $50,000.
These items are considered part of Building coverage:
Alarm systems
Appliances used for refrigeration, ventilating, cooking, dishwashing or laundering
Fences
Fire extinguishing equipment
Floor coverings
Lawn maintenance and snow removal equipment
Lobby and hallway furnishings
Outdoor furniture
Retaining walls
Swimming pools
Building Glass coverage included, with several deductible options available
Employee Dishonesty for up to $25,000* (with an option to cover properly managers as employees.)
Ordinance or Law coverage is included for a combined limit of $25,000*.
Sign coverage is included up to Building limit, if within 1,000 feet of the described premises.
Garage keeps optional coverage is available.
Blanket limits optional protection may be available.
Building Owners Endorsement option-enhances coverage in key areas for your owned buildings.
Directors and Officers Liability coverage may be available for co-operatives.
*Higher limits are available.
Apartment Core Coverage Highlights
Property coverage
This covers your building (including foundations) for replacement cost with no coinsurance
Outdoor Trees, Shrubs and Plants coverage provided for all covered causes of loss up to $3,000*
Coverage applies for the mechanical breakdown of vital building maintenance systems, such as boilers and air conditioning systems. The extra costs associated with these types of claims (pollutant clean-up and expediting expenses) are also covered up to $25,000. Service interruption to your water or power supplies, caused by equipment breakdown, may also be covered. Your power generating equipment is covered up to $1,00* for breakdown.
Business Income and Extra Expense
This covers income that is lost due to suspended operations caused by damage to your building from a covered cause of loss. (Optional for Apartment Business Owners policy)
Includes on a Actual Loss Sustained basis for 12 consecutive months up to 80 percent of annual rents/fees
Up to 60 days Extended Business Income
Newly Acquired Premises up to $250,000
Includes loss by Civil Authority
General Liability
This covers you against claims resulting from your business operations due to bodily injury or property damage to others.
Automatically includes
Advertising Injury and Personal Injury Liability
Medical Payments up to $5,000
Blanket contractual for oral or written contracts
Host liquor legal liability
* Higher limits are available.
Popular Options
Higher limits for most individual coverage extensions
ERISA Welfare and Pension
Hired and Non-Owned Auto Liability
Sewer and Drain Back Up
Liability coverage enhancement - enhances coverage in 15 key areas
|
