Commercial Property Insurance
Your investment in real estate property is a liability just as much as it is an asset. One way to tip the lever to all asset with minimal liability is Commercial Property Insurance.
ING Insurance Services carefully evaluates your insurable risk and sets you up with a plan of indemnification that protects your financial obligation to that investment in the event that is damaged and needs to be restored.
Commercial property insurance helps you recover from the perils of fire, wind, lightning, riot, explosion, smoke and other hazards. Policies include coverage for permanent buildings, fixtures, equipment and machinery located at specific premises in your care, custody, or control. Property owners need to be aware of what the rebuild cost would be to replace their building, lost income and personal property and ING helps you determine that value so there are no gaps.
Call ING Insurance Services today to discuss your commercial property insurance needs!
Homeowners and commercial property insurance policies have limited coverage for renovation work especially when it comes to structural work being done by a contractor. The solution; Builders Risk Insurance, a policy specifically designed for new construction, remodelling and installation projects for residential and commercial risks.
In a Builders Risk policy, the construction job is covered for perils of fire, lightning, wind, water. There is also coverage for building materials stored on the property and in transit from the perils of vandalism, theft and arson.
Type of remodeling work covered by a Builders Risk policy:
•Bathroom and kitchen improvements
• Building additional stories
• Ground-floor additions
• Removing load-bearing walls
Installation work covered:
• Cabinets and countertops
• HVAC units
• Solar panels
• Tile or floor work
It is important to understand the liability aspect of a construction job and how to protect yourself as the owner from injuries that are sustained by third parties on the job site. The Builders Risk policy can offer liability as an optional coverage that will cover bodily injury and property damage to third parties however the risk changes when it comes to employees of the contractors and those types of injuries on the job. This would need to be picked up by the general contractor of the job on a primary and non-contributory basis with a waiver of subrogation on the owner.
Owners & Contractors Protective Liability is taken out by an owner of a property that is also acting as the general contractor on a construction job. The policy covers the owner of a property for jobs performed by a general contractor. This is a supplement to the general contractor’s liability policy and will help pick up coverage for bodily injury and property damage during construction.
Call us today and we’ll protect your job site with the best insurance policy available!
Inland Marine policies are designed specifically for inland marine risks. Contents that belong to a business ranging from inventory in a warehouse to construction machinery on a flatbed can also be covered on an inland marine policy. Airborne and waterborne coverage is important to consider if your business is in wholesale/distribution and importing or exporting products.
Below is a list of property types that can be covered by an inland marine policy.
- Contractor’s equipment
• Dealers open lot inventory and floor plan
• Leased property (single and dual interest)
• Computer equipment
• Motor truck cargo
• Forestry and agricultural equipment
• Warehouse legal liability
• Equipment dealers
• Bridges, tunnels
• Railroad and railroad rolling stock
• Marinas, piers, and docks
• Port equipment/container cranes
• Property on exhibition
• Fine arts (dealers, museums, galleries)
ING Insurance Services will help you identify the right policy to cover your unique property needs. Fill out the inland marine policy to the right and we’ll provide a quote.