Remove Damage Remove Financial Loss Remove General Liability
article thumbnail

Landlord Insurance in Chicago, Illinois: Everything Brokers and Property Owners Need to Know

Distinguished

The damage is extensive, and tenants are forced to relocate while repairs are underway. Without the right insurance, the landlord absorbs the full financial hit not just from repairs but also from lost rental income. General liability: Protects against tenant or visitor injuries, legal claims, and medical expenses.

Broker 52
article thumbnail

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

Distinguished

Unlike single-family homes, apartment complexes face heightened risks damage from one unit can quickly spread to others, liability claims can stem from common areas, and evolving building codes can demand costly upgrades. Without the right coverage, property owners could be exposed to significant financial and legal risks.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

Distinguished

Whether it is a major fire or foodborne illnesses , restaurants in Charlotte and North Carolina need comprehensive insurance coverage to help them financially recover from unexpected and financially devastating events. General liability insurance: Coverage for legal claims related to customer injuries or property damage.

article thumbnail

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. General Liability Insurance Even in a digital world, physical risks exist. One oversight could lead to costly lawsuits.

article thumbnail

How a Liability Claim Can Ruin Your Business – And How to Protect Yourself

Property Insurance Centre

How a Liability Claim Can Ruin Your Business And How to Protect Yourself No matter how well you run your business, a single liability claim can have devastating consequences. From financial losses to reputational damage, legal battles, and even the risk of shutting down, the impact can be severe.

article thumbnail

Protect Your Business: 5 Essential Insurance Policies You Might Be Overlooking

Protect Commercial Insurance

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. Additionally, general liability insurance typically does not cover claims related to professional services or cyber incidents.

article thumbnail

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