Business Insurance

Property Insurance Coverage and Risks

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I nsurance must be included in the operating expenses of any business. In fact, a property or business owner may have an obligation to buy and maintain certain kinds of insurance. Mortgage or bank loan terms often require the property owner to maintain certain kinds of insurance, like fire and  liability. Failure to do so is a violation of the loan agreement, and may result in penalties, or the cancellation of the agreement. At the very least, a bank will place "forced insurance" on the property than costs the property owner several times as much as normal property insurance.

      Additionally, there are so many risks related to the management of rental properties that a lack of insurance would in itself be considered negligent.   Items discussed in a policy include the following:

  • Property Insurance

  • Types of Property C overage and Risks

  • Occurrence of physical damage

  • Difference in Conditions Coverage

  • The Business owners' Standard Property Coverage Form

  • Principal Covered Perils and Exclusions

  • Debris Removal

  • Lost Income

  • Lost Information

  • Optional Coverage

See also Liability Insurance Basic Coverage

The above topics are discussed in much more depth
  on our members' Business Insurance page.

Non-Members' Homepage