Bankers Insurance

AUGUST 8, 2024

THE IMPORTANCE OF ACCURATE VALUATION IN COMMERCIAL PROPERTY INSURANCE When purchasing or renewing commercial property insurance , it’s important for businesses to ensure their coverage includes correct property valuations. Additionally, property undervaluation can result in coinsurance penalties. inflation).

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Commercial Property Property Insurance Commercial Out-Of-Pocket 59

Jackson & Jackson

APRIL 26, 2024

Investing in commercial property in California can be a lucrative venture, but it also comes with its unique set of risks and responsibilities. One of the most crucial aspects to consider is commercial property insurance.

Commercial Property 52

Commercial Property Property Insurance Commercial Business Interruption 52

Property Insurance Centre

AUGUST 12, 2024

Automatic Fire Alarms in Commercial Properties New Rules 2024 As of October 2024 the London Fire Brigade will cease to attend alarms at commercial properties between the hours of 7am & 8:30 pm. It has been found that 99% of alarms at commercial properties are, in fact, false alarms and take up significant resources.

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Commercial Property Commercial Property Insurance Building 52

Jackson & Jackson

APRIL 10, 2024

Investing in commercial property is a significant step for any entrepreneur or business entity. Insurance plays a pivotal role in safeguarding your property and your financial future. Here are five critical considerations you should keep in mind regarding insurance when buying or investing in commercial property.

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Commercial Property Commercial Business Interruption Out-Of-Pocket Expense 52

Jackson & Jackson

APRIL 29, 2024

Commercial property insurance is a significant expense for property investors and owners. This article outlines practical tips and strategies to help commercial property owners in California minimize their insurance expenses while maintaining adequate protection for their investments.

Commercial Property 52

Commercial Property Property Insurance Commercial Deductible 52

Distinguished

APRIL 9, 2025

Unlike agents or brokers, MGAs can bind coverage, price policies, and handle claims they essentially act as an extension of an insurer. MGAs, on the other hand, have the authority to underwrite, price, and even issue policies on behalf of insurers.

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Agents Broker-Agent Broker Underwriter 52

Mark Jackson Insurance Agency

MARCH 19, 2025

Brick commercial office building by Binyamin Mellish Expanding your business to a new location is an exciting step toward growth, but it also introduces new risks. From property protection to liability coverage, ensuring your business insurance policies align with your expansion is critical.

Workers Compensation 52

Workers Compensation Liability Property Damage Inland Marine Insurance 52

Risk Management Monitor

AUGUST 9, 2022

As companies assess their natural disaster preparedness, there are some proactive measures that should be taken specifically for hail to leave organizations best positioned for any resulting insurance claims. Let’s say you operate a business in Plano, Texas, and have a commercial property policy with a renewal date of January 1, 2022.

Damage 78

Damage Claim Commercial Property Deductible 78

American Agents Alliance

APRIL 3, 2025

For example, the cost of repairing damaged property like vehicles and homes could increase because these items rely on imported goods, which will be more expensive after tariffs are increased. This drives up the cost to repair, impacting claims costs. This could cause higher rates in commercial property and homeowners lines.

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Agents Policyholder Premium Auto Insurance 52

The Property Insurance Law Observer

AUGUST 22, 2024

2024), the District Court of Massachusetts found that “collapse” provisions within a commercial property policy were ambiguous where a floor merely sagged without completely falling to the ground. During the policy period, the insured’s floor “sunk” between eight to 12 inches. This prompted the insured to submit a claim.

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Building Commercial Property Damage Policy 130

Protect Commercial Insurance

MAY 24, 2024

While you may have the basic insurance policies in place, such as property and general liability insurance, there are several other essential insurance policies that you might be overlooking. In this article, we will explore five often overlooked insurance policies that can provide valuable coverage for your business.

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Insurance Policy Protection Policy Business Interruption 52

Paragon Independent Insurance Agencies

FEBRUARY 28, 2025

It helps cover accidents, repairs, and liability claims, ensuring your business isn’t financially burdened by unexpected incidents. Beyond vehicle coverage, you may also need general liability insurance, which protects against third-party claims for injuries or property damage during business operations.

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Commercial Insurance Commercial Insurance Agency General Liability 40

Jackson & Jackson

MAY 22, 2024

Multi-unit commercial properties in California offer investors the potential for significant returns. Investors must understand the importance of securing comprehensive commercial property insurance coverage to protect their investments. It covers property damage, loss of income, liability claims, etc.

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Property Insurance Centre

MARCH 21, 2025

Insurers view these uses as higher risk, which can lead to increased premiums or the need for specialist insurance policies. However, with property prices on the rise and increasing claims related to climate events and fire risks, premiums are also going up.

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Premium Insured Insurance Insurer 52

Property Insurance Centre

JANUARY 30, 2025

Because of these risks, many standard building insurance policies may not fully cover an unoccupied flat for extended periods, typically beyond 30-60 days. Block of Flats Insurance with Unoccupied Cover A tailored policy that protects both occupied and vacant flats within the same building.

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Property Insurance Insured Insurance Insurer 52

Property Insurance Centre

JULY 21, 2024

Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024 We are delighted but not surprised to announce that our claims partner, Aspray, has won the prestigious “Loss Assessor of the Year 2024” award at the British Claims Awards.

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Claim Property Damage Building Property Insurance 52

Property Insurance Centre

MARCH 11, 2025

Higher Crime Rates and Security Concerns London experiences more burglary, vandalism, and theft claims compared to rural or suburban areas. Unoccupied flats pose risks like water damage and squatting, which insurers consider when pricing policies. Some insurers might impose higher excesses or refuse coverage in high-risk flood zones.

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Property Insurance Centre

SEPTEMBER 11, 2024

What does a Lift Inspection Policy cover? What does a Lift Inspection Policy cover in conjunction with a Purpose Built Flats Insurance Policy? Lift Inspection policies will often accompany a Purpose Built Flats Insurance Policy, and for good reason.

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Insurance Policy Policy Boiler and Machinery Insured 52

Property Insurance Centre

JANUARY 27, 2025

Speak with the Freeholder or Managing Agent: Ask for details about the current insurance policy and how costs are allocated. Seek Professional Advice: If you suspect the freeholder is failing to insure the property adequately, consult a legal expert or surveyor.

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Property Insurance Centre

JANUARY 16, 2025

From the catastrophic floods in Carlisle in 2005 to the more recent deluge in London in 2021, businesses in flood-prone areas have faced disruption, financial losses, and complex insurance claims. This article explores the intricacies of commercial flood insurance in the UK, highlighting regional variations, challenges, and solutions.

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Commercial Commercial Property Insured Insurance 52

Property Insurance Centre

JANUARY 4, 2024

This ensures that insured properties are adequately valued and properly insured, reducing the risk of financial loss in the event of a claim. As wages increase due to inflationary pressures, the cost of hiring contractors, skilled workers, and other labourers for property construction and repairs also rises.

Property Insurance 52

Property Insurance Commercial Property Liability Insured 52

Risk Management Monitor

NOVEMBER 8, 2021

One of the first steps in obtaining commercial property insurance is to determine the value of the property being insured. The reported property value will drive premium amounts and, importantly, represents the property loss exposure. The accuracy of this approach will diminish over time.

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Commercial Property Insured Insurance Insurer 75

Property Insurance Centre

NOVEMBER 11, 2024

Unfortunately, customers are more often than not caught in the middle, and end up having to fork out more money to pay for policies or settle for lesser cover. Let’s have a look at them… Don’t claim for everything – One thing insurers do not like, is a policyholder that claims over multiple times a year & for the smallest thing.

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Insured Insurance Insurer Premium 52

Mark Jackson Insurance Agency

NOVEMBER 22, 2024

While your business may only operate for part of the year, risks like property damage, liability claims, or equipment theft don’t follow a calendar. Having the right insurance policies in place ensures your business is protected even during the offseason. Start by evaluating your specific risks.

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Business Interruption Theft Liability Insured 52

Property Insurance Centre

OCTOBER 18, 2024

Recent data from 2023 and 2024 highlights the financial strain on insurers and property owners alike, driven by more severe storms, heavy rainfall, and unpredictable weather patterns. Rising Claims Due to Extreme Weather In 2023, UK insurers faced record-breaking claims from weather-related damage.

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Property Insurance Premium Insured Insurance 52

Property Insurance Centre

DECEMBER 23, 2024

Being a Commercial Property Owner or Business Owner you will be aware there will be certain conditions within your insurance policy with regard to the Security at the premises. What this lock simply does, is improve the physical security of your property straight away. Do I have the right lock for my insurance ?

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Commercial Property Insured Insurance Insurer 52

Property Insurance Centre

MAY 20, 2024

Most policies specifically designed for blocks of flats make provision for inflationary increases each year, with the Declared Value automatically index-linked by the annual percentage shown in the Building Cost Information Service (BCIS) Index provided by the Royal Institute of Chartered Surveyors (RICS). This can apply to a total loss (e.g.

Building 52

Building Insured Insurance Insurer 52

Property Insurance Centre

SEPTEMBER 25, 2024

See what is not covered in terms of events/damage for your policy and think about getting flood insurance or accidental damage insurance if desired. Accidental damage is not usually covered by a normal building insurance policy. Define the maximum amount that you are willing to spend additional in the case of a claim.

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Building Insured Insurance Insurer 52

Protect Commercial Insurance

NOVEMBER 22, 2024

You can choose from a range of policies that include basic coverage to keep costs down. So, there’s a policy out there to suit just about every budget. Long-term Financial Benefits While the upfront cost of commercial insurance might seem high, consider the long-term savings and financial security it provides.

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Commercial Insurance Commercial Cyber Insured 52

Distinguished

SEPTEMBER 25, 2024

Whether it’s a construction project for a single-family home , a mixed-use building , or a commercial property, Distinguished’s Builder’s Risk Program has got it covered. Different Builder’s Risk insurance policies vary from one insurance carrier to another.  Who Should be Named in a Builder’s Risk Policy?

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Jackson & Jackson

APRIL 28, 2024

However, in the event of a claim, this can lead to substantial out-of-pocket expenses due to insufficient coverage limits. How to Avoid It: Regularly review and update your insurance coverage to match the current value of your property and its contents. How to Avoid It: Shop around and compare policies based on price and coverage.

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Business Interruption Out-Of-Pocket Expense Out-Of-Pocket Broker-Agent 52

Protect Commercial Insurance

JANUARY 10, 2025

These partnerships not only broaden your client base but also offer a seamless solution to meet customer needs across various policy areas, such as commercial property. Enhancing Commercial Property Offerings One major sector that benefits from robust referral partnerships is commercial property insurance.

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Building Broker Commercial Property Insured 52

Zywave

NOVEMBER 20, 2024

It is crucial for businesses to maintain documented workplace policies fostering a culture of inclusion and mitigating risk in these areas. Employers should prioritize mental health resources and clear policies to handle workers’ comp claims as efficiently as possible.

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Workers Comp Commercial Property Cyber Commercial 52

Property Insurance Centre

MARCH 19, 2024

It empowers individuals to make informed decisions about insurance coverage and understand their policy rights. Consumer education ensures that individuals are prepared and protected with the proper insurance coverage and are knowledgeable about the claims process. This guide draws on some information from America as well as the UK.

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Property Insurance Policyholder Insured Insurance 52

Property Insurance Centre

JANUARY 30, 2024

Standard home insurance policies may not provide adequate protection for the unique risks associated with a block of flats. That’s why it’s essential to choose a specialised block of flats insurance policy that covers the specific needs of your property. What is Block of Flats Insurance?

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Building Insured Insurance Insurer 52

Protect Commercial Insurance

DECEMBER 6, 2024

These informal agreements gradually evolved into structured policies, providing a safety net for traders and setting the groundwork for todays complex insurance systems. Milestones Leading to Present Day The dawn of the Industrial Revolution marked a turning point in the evolution of commercial insurance.

Commercial Insurance 52

Commercial Insurance Commercial Insured Insurance 52

Distinguished

AUGUST 26, 2024

Distinguished’s Builder’s Risk Program covers all kinds of buildings in Michigan, including single-family homes , mixed-use buildings , and commercial properties. However, a general rule of thumb for Builder’s Risk is to expect a policy to cost anywhere from 1-5% of the total project cost.

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