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Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Prof. Allan Manning

I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. Where a client, sought to insure for less than 12 months they would offer a discount on the premium rate. of their loss.

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Does Commercial Property Insurance Cover Water Damage?

Tosten Marketing

Preventive Measures To protect your business further, implement preventive measures such as: Regular maintenance checks of plumbing and appliances Installation of water detection systems Conducting regular plumbing inspections Some insurers may even offer premium discounts for businesses that take these proactive steps.

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What Perils Are Covered by Commercial Property Insurance?

Property Insurance Centre

Businesses in seismically active areas (such as California) must purchase earthquake insurance separately. Business Interruption Insurance If a covered peril forces a business to temporarily close, business interruption insurance covers lost income, operating expenses, and even temporary relocation costs.

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Restaurant Insurance in Charlotte, North Carolina: A Broker’s Guide

Distinguished

Food spoilage and contamination coverage: Compensates for losses due to spoiled inventory or business interruptions caused by foodborne illness. Location risks: Areas with higher crime rates or increased foot traffic face higher premiums.

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

Jackson & Jackson

Business Interruption Insurance Unexpected events can disrupt your operations, leading to significant financial loss. Business interruption insurance compensates for lost income during these periods, helping you keep your business afloat until you can resume normal operations.

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

Jackson & Jackson

It provides coverage for physical damage to your property and any loss of income due to business interruption. Business Interruption : If your business operations are halted due to covered damage to your property, this coverage can compensate for lost income and help pay ongoing expenses.

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Top 5 Mistakes Property Investors Make with Insurance – And How to Avoid Them

Jackson & Jackson

This often happens when trying to save on premiums. Specialized risks, such as floods, earthquakes, and business interruptions, require additional coverage, which many investors should pay more attention to. Think about business interruption insurance to protect your income stream during repairs.