Property 

Commercial Building, Property Insurance

As your operations change and grow, so do your risks. The property professionals at AssuredPartners Northeast can customize a commercial property insurance plan to fit your evolving needs and provide coverage ranging from a minor theft to a catastrophic loss. Our client advisers complement your property insurance program with practical yet sophisticated risk management solutions—helping you assess risks, manage safety programs and design a disaster and recovery plan for your ongoing protection and financial success.

AssuredPartners Northeast represents A-rated insurance carriers, designing programs and analyzing that you have the right coverage and financial support you need for a quick recovery in the event of an occurrence/loss.

Additional types of commercial property insurance we provide include:

Boiler & Machinery/Equipment Breakdown

Boiler and machinery, also known as equipment breakdown coverage, provides coverage for failure of boilers, machinery and other electrical equipment.  The benefits of this coverage include repair or replacement of property of the insured that was damaged directly by the incident, costs of temporary repairs and expediting expenses, and liability for damage to the property of others that was damaged as a direct result of the breakdown incident.

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Builders Risk

Builders risk coverage insures against loss to buildings that are in the course of construction and generally includes machinery and equipment used in the construction process as well as materials that are incidental to the construction.

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Business Interruption/Extra Expense

Business interruption and extra expense insurance covers time-sensitive losses resulting from a covered direct-damage loss involving buildings and/or personal property. When business property is damaged or destroyed, it can take an extended amount of time to repair or rebuild before the firm can return to income and production levels enjoyed immediately preceding the loss.  Lost income and extra expenses can be the largest costs business owners face when property is destroyed.

The standard business income policy will pay for restoration expenses only if they reduce loss; and the contract might not cover additional expenses. However, a rider for extra expense coverage may pay for items such as restored telephone service, substitute space, the expense of moving, additional advertising, purchase or rental of computers or other equipment.

Long-term business plans, emergency plans and specific business processes need to be evaluated in determining the amount of business income and extra expense protection needed.

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Cargo/Transit

Cargo or transit insurance is designed to cover goods as they are transported from one location to another.  This would generally be covered under an ocean marine policy for items transported by water or Inland marine for items transported by land.

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Contingent Business Interruption/Extra Expense

Contingent business interruption and extra expense insurance reimburses policyholders for lost profits and extra expenses resulting from interrupted or stopped business incurred by the insured's key suppliers and customers.

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Earthquake

Earthquake insurance provides property coverage for losses resulting from sudden shaking or trembling of the earth, which typically includes such shaking/trembling caused by volcanic eruption. 

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Flood

Flood coverage protects a policyholder against loss or damage to real property or personal property caused by flood.  A flood is the inundation of surface waters and includes mudflow.

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Installation Floater

Installation floater insurance covers equipment and materials being installed by a contractor.  Often this coverage is included in the same form used to provide builders risk coverage.

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Stock Throughput

Designed for import, export and distribution companies, a stock throughput policy covers inventory (including raw materials, semi-finished and unfinished products) at all times beginning at the source of its production to its final destination.  This includes ocean cargo insurance, inland transit and property in storage coverage all rolled into one policy.

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Wind

Wind or windstorm coverage protects property owners from losses resulting from damaging winds produced by strong storms, such as hurricanes.

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