Real Estate

Real Estate ownership takes a variety of forms, each having its own unique risks and insurance requirements. Properties may include:

• Coops, Condos and Rental apartments
• Mercantile
• Warehouses
• Mixed occupany

In addition to standard Property and Casualty insurance, the following specialized coverages may be important, depending on your situation:

Ordinance of law coverage

If you suffer a loss, you may find that rebuilding costs are higher because of recently enacted municpal codes and other regulations that did not apply to the original construction. With this coverage, these increased costs will be reimbursed.

Demolition coverage

Covers demolition of the remainder of a property if a building is partly destroyed.

Special endorsements

Provide coverage for specific risks that would otherwise not be covered under a general policy such as Flood, Earthquake, Sewer Backup and Boiler Replacement.

Directors & officers liability

Coverage to protect board members, directors and officers of a Co-op or Condominium.

Crime coverage

Coverage for a managing agent, including theft by employees or outsiders.

Commercial umbrella

Excess coverage to protect property owners against claims.