Building insurance policies can be used in determining the correct value of an old building, covering the risk of a lift liability and accountability arising out of injury or damage to property from third parties. A professional insight can plug all possible gaps for the best possible cover.
Resident or commercial building insurance associations can buy cover for an apartment or commercial complexes jointly, thus reducing cost of insurance. An insurance cover bought by some individuals cannot help in reconstruction if other owners have not insured themselves too.
Public Liability
Any large commercial premises expose the owners to Public liabilities risk. A lift or escalator hazard or injury or death caused due to an accident can all lead to potentially large liability. A damage to a visitor car while in parking or by a valet can all lead to claims on the owners.
Machinery Breakdown
Insurance for machinery is usually overlooked in buildings. AMCs do not cover short circuit or accidental damages to lifts and escalators. D.G Sets, HVACs or Air Conditioners are all prone to accidental damages including own fault damages which can be insured.
Loss of Rent
Commercial buildings can have significant loss of rent arising from any peril related damages for sustained periods. Malls can be severally affected by complete loss of business for years. Purchasing a Loss of rent cover or Business interruption should be a part of building insurance.
Plate Glass
Most Commercial buildings have significant levels of external Glass, while all buildings will have varying levels of internal Glass. Insuring Plate Glass ensures minimal repairs cost for accidental damages including cost of glass, transportation, fixing and associated costs.
Contact Edify today to explore tailored property and transit insurance, goods in transit insurance, and office and transit protection plans that empower your business to thrive.
Let’s protect what matters most—together.
