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Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

Distinguished

Financial Interest and Named Insureds In a typical Builder’s Risk policy , the named insured is the entity that has a financial interest in the construction project. This could be the contractor, developer, or property owner, depending on who stands to suffer a financial loss if the property is damaged during construction.

Policy 52
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Top 6 Insurance Policies Every IT Business in California Should Have

Jackson & Jackson

Professional Liability Insurance protects your business against claims of negligence, errors, or omissions that result in financial losses for your clients. This policy covers damages or injuries caused by your company vehicles, as well as protection against theft, vandalism, and accidents.

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5 Essential Considerations for Insurance When Buying or Investing in Commercial Property

Jackson & Jackson

It protects you from claims arising from accidents or injuries on your property. Business Interruption Insurance Unexpected events can disrupt your operations, leading to significant financial loss. This can include everything from a customer slipping on a wet floor to a faulty product causing harm.

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Understanding Multi-Family Property Insurance in California.

Jackson & Jackson

It covers property damage, loss of income, liability claims, etc. With the right insurance coverage, investors can mitigate financial losses resulting from unforeseen events such as fires, storms, theft, or vandalism. It protects against perils like fire, explosions, storms, and other risks outlined in the policy.

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Emerging Property Insurance Trends 2024

Property Insurance Centre

This ensures that insured properties are adequately valued and properly insured, reducing the risk of financial loss in the event of a claim. This is a significant concern as it leaves property owners vulnerable to potential financial losses in the event of a claim.