Customized Policy

How to Customize Your Property Insurance Policy

Nationwide understands you need property insurance coverage that meets your business needs. That’s why we offer a wide range of property insurance options that give you flexibility to protect your business. 

Here are some common types of coverage.

Builders’ risk

Protects buildings in the process of being constructed with "completed value" coverage for the full value of the finished building.

Building ordinance and law

Pays for the cost of repairing or replacing damaged or destroyed property to meet the current levels of local building codes and ordinances.

Business income

Covers a company’s loss of income resulting from damage or destruction of the property, and typically covers reimbursement for payroll, rental income and other expenses.

Earthquake

Covers property that is damaged by earthquakes or volcanic eruption, and it is usually subject to a deductible that's based on a percentage of the property’s value.

Equipment breakdown

Provides coverage for damage caused by electrical and mechanical equipment through explosions, breakdowns and electrical arcing.

Flood insurance

Provides coverage for losses to buildings and their contents due to flooding which is typically backed by the government supported National Flood Insurance Program.

Inflation guard

Provides a percentage adjustment to property values following a loss which allows for increased construction costs due to inflation and is usually a set percentage based on the inflation index in a given area.

Utility services direct damage

Provides for losses incurred due to the failure of utilities, such as a power outage, water main break or natural gas transmission interruption.