How Much Does Vacancy Actually Cost Your Commercial Real Estate Business?
Vacancy can cost you much more than just loss of renters! Did you know a “vacant” building is defined as a building on a permanent foundation, that is not intended for demolition, is completely vacant or unoccupied, and is not undergoing any repairs, restoration, or remodeling of any kind. Commercial property policies are underwritten based […]
Umbrella VS Blanket Insurance… Is There A Difference?
An Umbrella, a term for excess liability, is a policy which increases the limits of your primary general liability policy. As an example, if you have a $1,000,000 general liability policy and purchase a $2,000,000 Umbrella policy, you have increased your total liability limits to $3,000,000. The umbrella policy will provide additional coverage for everything […]
What Is A Triple Net Lease? Be Careful Who Is Placing Your Policy
Did you know that a “Triple Net Lease” also known as NNN lease, is a lease in which the lessee pays rent to the lessor PLUS their portion of the taxes, insurance and maintenance expenses? When the tenant is responsible for the acquisition and/or modification of an insurance policy intended to protect the landlord, many […]
Building Ordinance Coverage!
Building ordinance coverage is purchased as an endorsement, additional coverage, to provide coverage for three types of common building ordinance or law requirements that apply after an insured has suffered a physical damage loss such as a fire. These ordinance or law damages are normally excluded in standard property coverage forms. The coverage’s available in […]
E & O Are Not Just Vowels in the Insurance World
E & O… we are talking about Errors and Omissions insurance for professionals like YOU! E&O is malpractice insurance which provides physicians, attorneys, real estate brokers, mortgage brokers and other professional’s, coverage for claims by clients for alleged professional errors and omissions which may amount to negligence. A very important factor within this coverage is […]
Everything Your Construction Business Needs to Know About Construction Coverage
Did you know there are a minimum of 3 types of policies in force during a construction project protecting your interest? The property is covered with a “COC” policy, also known as Builder Risk Policy, protecting the property throughout the construction phase. The General Liability (GL) is “picked up” by using the General Contractors policy, […]
The BOP, It Is NOT A Dance!
Do you know, as a commercial property owner, your first line of defense from your commercial tenants is their BOP? (Business Owners Policy) The BOP can provide coverage for: General Liabilities, the business risk of the tenant. 3rd Party Liabilities, slip, trip and falls. Tenant Improvements, what they spend to build out the space. Inventory […]
