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Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

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And with rising property values, more frequent catastrophic weather events, and emerging risks like habitability claims, its never been more critical to help your clients navigate their insurance options. What Kinds of Claims Get Made in Apartment Buildings As a team, weve seen all kinds of claims related to apartment buildings.

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Builder’s Risk Insurance in Alabama: A Broker’s Guide 

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Our program also offers your clients general liability insurance, which can help cover legal costs that can occur on work sites.  For instance, employees injured on the job should be covered by their Contractor’s General Liability policy.   Our Builder’s Risk program does not cover some specific risks.

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What are the most important questions to ask when choosing business insurance?

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– Potential deductibles and what’s financially viable if you need to make a claim. Familiarising yourself with the various types can help you craft the most effective insurance package: – General Liability Insurance : Covers third-party bodily injury, property damage, and advertising injuries.

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Hotel Primary Insurance: A Check-In to Success for Insurance Brokers

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Dedicated claims team experienced in hospitality-related losses. The primary general liability (GL) coverage has a specific geographic restriction: it is not available for hotels located adjacent to the beach in Hawaii. Property and Liability products are distributed through a national network of agents and brokers.

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

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However, it will not be covered for liability claims under a Builder’s Risk policy since that policy is not designed to cover the contractor’s operations, such as poor workmanship or negligence. Instead, a contractor’s operations liability should be covered by a separate Contractor’s General Liability policy.

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Builder’s Risk Insurance in Tennessee: A Broker’s Guide 

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Soft costs : Additional expenses caused by a covered claim that are not related to building materials, equipment, or other hard costs; these soft costs could include additional reinspection fees, increased tax burdens, and insurance premiums. They require insurance to protect against potential claims.

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Builder’s Risk Insurance Declinations: An Interview With Susan DeCarlo

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We can consider weather related claims, but claims of theft, vandalism, and fire, for example, would be an automatic decline. And regarding coverage, if the named insured is the builder, or there is a relationship between the named insured and the builder, in that capacity we would exclude general liability coverage.

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