When it comes to determining how insurance companies arrive at rating different type of commercial property, it’s important to determine and understand the various scenarios for rating damage by fire.
Have a lot to lose? You need Commercial Umbrella Insurance!
A commercial umbrella insurance policy can give your clients additional liability coverage over the primary liability policies in place for their business. Generally, those policies may be their general liability policy, employer’s liability and automobile liability.
Can’t think of how to approach selling this coverage to your clients? Try providing actual claim scenarios relevant to your insured’s business or exposures. For example, for property owners, a severe slip and fall or drowning incident could result in a devastating umbrella claim.
Once you’ve developed the necessity for a commercial umbrella, you then must decide how much coverage they need. Several factors come into play when determining the appropriate excess liability coverage. These factors include the type of business they own, the coverages they already have in place, as well as the assets of the business.
While standard coverages will generally take care of most situations their business will encounter, most sophisticated agents at least offer umbrella coverage to their insureds annually. New Empire Group’s Real Estate Umbrella program has high limit options for Community Associations, Cooperatives, Condominium Associations, Homeowners Associations as well as Commercial Lessor’s Risk Only. Through our program, the above mentioned parties have access to these high limit options at very affordable premiums not available in the standard market. Coverage is provided through the nation’s top carriers on an admitted basis in all states.
Talk to any of our knowledgeable associates about our commercial umbrella program, it could be the key to preserving your client’s company in the event of a serious claim.
With the hottest temperatures of the season set to arrive within the next few weeks, it is important to for your property manager clients to prepare themselves and their buildings! Extreme heat can stress property management assets beyond their limits.