REAL & PERSONAL PROPERTY

"Commercial Property" insurance is one of several categories of property insurance. Coverage applies to buildings (real) and contents (personal) while at a specified location. Policies may also provide incidental coverage for property in transit or otherwise temporarily away from the specified premises. Commercial property policies generally do not cover property that is better handled by another type of coverage such as money, securities, automobiles, watercraft, etc.

EQUIPMENT BREAKDOWN / BOILER & MACHINERY

Equipment Breakdown/Boiler & Machinery insurance covers sudden and accidental breakdowns of steam and hot water boilers, pressure vessels, air conditioning equipment, turbines, electrical apparatus, and various other mechanical and electrical objects. Coverage extends not only to insured object itself but also to other property damaged by an accident to an object. Endorsements are available to cover loss of income, extra expense, utility services, consequential loss (spoilage).

BUSINESS INCOME INCLUDING EXTRA EXPENSE 

This coverage is used to insure against loss of income (including any continuing normal operating expenses) that you experience because of suspension of your business when insured property has been damaged by a covered peril. Under this form, extra expenses are included and rental values can be added as an option.

 EXTRA EXPENSE COVERAGE

This coverage pays for the necessary additional expenses needed to continue business when a covered loss damages or destroys insured property.

BUILDING ORDINANCE - INCREASED COST OF CONSTRUCTION & DEMOLITION 

This coverage will protect you against loss due to the enforcement of existing building or zoning laws that result in additional costs to rebuild or demolish an insured building. Coverage for the loss of any undamaged portion of such buildings can also be insured.

EARTHQUAKE AND FLOOD - DIFFERENCE IN CONDITIONS

DIC policy is used to make up for uninsured perils not covered by your basic property policy. Provides protection for property losses due to earth movement including earthquake shocks and volcanic eruption. Flood damage can be included on a DIC form. Damage from flood perils occur when 1) overflow of inland or tidal waters, 2) unusual or rapid accumulation or runoff of surface waters, 3) collapse or subsidence of land because of flooding and 4) mudslides or mudflows that are proximately caused by flooding.


ELECTRONIC DATA PROCESSING EQUIPMENT

EDP coverage provides added benefits over the basic property policy such as mechanical or electrical breakdown. It also typically insures covered property while in transit and extra expense. EDP policy typically covers computer equipment (mainframe, mini-computers, terminals, monitors, printers, disk drives and modems), data, and media owned by the insured. Business income can be added by request.

TRANSIT INSURANCE

Provides protection for property while in transit. Property covered can be owned or property of others in your care, custody, control. Types of transit coverage include ocean cargo, motor truck cargo, contractor's equipment floater.

CRIME / EMPLOYEE DISHONESTY

Crime insurance can cover money and securities against burglary, robbery, theft, destruction, disappearance, computer fraud, extortion, and employee dishonesty. Crime insurance can also cover property other than money and securities.