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Does a sagging floor constitute a “collapse”? Court finds ambiguity in “collapse.”

The Property Insurance Law Observer

For the purpose of this Additional Coverage – Collapse, abrupt collapse means an abrupt falling down or caving in of a building or any part of a building with the result that the building or part of the building cannot be occupied for its intended purpose. LEXIS 127718 (D. 629 F.Supp.2d 2d 1185 (D. Jemiola Living Trust v.

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Navigating Commercial Property Insurance: A Guide for New Investors in California

Jackson & Jackson

This guide aims to help new investors understand the basics of commercial property insurance in California, ensuring that their investments are protected against unforeseen events. It provides coverage for physical damage to your property and any loss of income due to business interruption.

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Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024

Property Insurance Centre

Aspray, a leading property damage claims management company, can act on your behalf when you need to make a claim. Aspray’s repeat win is a reflection of their unwavering commitment to delivering top-notch service to their clients, ensuring that they receive the best possible outcome in times of property damage.

Claim 52
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Tips for Buying Home Insurance

Bankers Insurance

Prices for building supplies, such as lumber, concrete, masonry and steel, have skyrocketed in recent years. Construction labor has also become more challenging, adding extra expense and time to all building projects. Even among typical homeowners policies, premiums likely increased year over year. Reduce liability risks.

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The Importance of Accurate Valuation in Commercial Property Insurance

Bankers Insurance

However, it’s important to keep in mind that a property may be assigned several different values, including: Market value — This is an estimate of what a property could be sold for in the present real estate market. Market value is based on factors such as lot size, building condition and location desirability.

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Court Finds Policy Term, “Windstorm,” to be Ambiguous in Coverage Dispute Involving Tornado

The Property Insurance Law Observer

The insureds suffered property damage caused by a tornado and subsequently submitted a claim to their insurer. The insurer paid only a portion of the claim because it maintained that the tornado that struck and damaged the property was a “windstorm” and, therefore, the claim was subject to the policy’s “Windstorm or Hail Deductible.”

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Commercial Insurance and Protection of Business Property

Paragon Independent Insurance Agencies

These events may include property damage, liability claims from work-related injuries, break-ins, or business interruption. Protection of Business Property Commercial insurance protects all business property, including buildings on the land, equipment in the yard, inventory, and other assets owned by the company.