How to Customize Your Property Insurance Policy
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.
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.
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.
Provides coverage for damage caused by electrical and mechanical equipment through explosions, breakdowns and electrical arcing.
Provides coverage for losses to buildings and their contents due to flooding which is typically backed by the government supported National Flood Insurance Program.
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.