Property and Casualty
Business Owner Policy
(BOP) Business Owners polices package all major property and liability risks into one policy. BOP polices include property insurance for buildings and contents owned by the company. They also include business interruption, and liability protection. This policy is for a certain type of business.
Commercial Property Insurance
This generally is for the business owner with a higher degree of exposure than the BOP policy above. It would protect your business against physical damage to, or loss of assets. This policy can also cover your loss of income due to a loss. If you have a catastrophes like fire, explosion, theft, or vandalism, property insurance helps cover your costs weather it’s to repair damaged property or replace what is lost or damaged.
Boiler and Machinery
Losses due to the failure of breakdown of a boiler, machinery, heating, cooling, and electrical equipment can be extended to also include consequential and business interruption losses. Insurance benefits are provided up to the limit per accident in the following order. 1- all property of the insured that is directly damaged by the accident; 2-reasonable costs of temporary repairs and expediting expenses; 3-liabilty for damage to property of others.
Covers buildings or structures during the construction, renovation, or repair process! This coverage can be tailored to meet the client’s needs. It can also be tailored to cover material while in transit and on the job site before becoming a permanent part of the building or structure. Builders risk coverage is required by most banks and lenders while the building and structure is being built. Builders risk coverage is an important insurance product in the construction industry.
These are coverage’s that may involve transportation or of site of your business location. The property may be in transit, held by a bailee, at a fixed location that is an instrument of transportation, or be a movable type of goods that are often at different locations. This policy covers any goods in transit anywhere except the on the high seas. Example of items contractors tools on the job site they are at.
Provides coverage for ocean, air or ground transportation exposures; goods or carog, earnings (such as freight, passage money, commissions, or profit) and liability (known as protection and indemnity).