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

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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. General liability : Covers the costs of fighting litigation plus covered damages that might come from it.

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Landlord Insurance: Costs and Coverages in the City

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These risks can include property damage caused by floods or fire, and liability coverage if a landlord gets sued by a tenant or building guest. Through these packages, your clients get access to the following coverages: Commercial general liability : Provides up to $1,000,000 per occurrence, with $2,000,000 of coverage in aggregate.

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

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The primary general liability (GL) coverage has a specific geographic restriction: it is not available for hotels located adjacent to the beach in Hawaii. Her extensive experience includes roles in underwriting, claims, and risk management across various sectors, including hospitality, professional liability, and emergency services.

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

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– Is there a high level of professional liability in your operations? 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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Builder’s Risk Insurance in Tennessee: A Broker’s Guide 

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Premises liability claims : Legal expenses and liability coverage related to any injuries, including trips and falls, that occur on the site. Our program also offers the following coverages: General liability insurance Mold and fungus Off-site materials in transit How Much Does Builder’s Risk Cost in Tennessee?