Here are some customizable features available in the Business Condo Association Policy:
- Building Coverage – Covers the building and anything attached to it, i.e., fixtures, flooring, and cabinets, as well as any common buildings your Business Condo Association might have.
- Backup of Sewer and Drain – This may provide coverage for accidental direct physical loss caused by a covered backup to business personal property at your location.
- Comprehensive General Liability - Helps protect against legal liability caused by bodily injury, property damage, personal injury, and advertising injury to others.
- Directors and Officers Liability - Protects your association board members against claims alleging wrongful acts in carrying out their duties.
- Ordinance and Law - Covers the increased cost to repair or rebuild due to the enforcement of municipal laws or regulations regulating the construction or repair of damaged buildings caused by a loss.
- Loss of Income and Extra Expense - This covers up to 12 months of lost income if there is a suspension of your business operations caused by an accidental direct physical loss covered by the policy. This includes the necessary extra expenses you incur during restoration after the same loss.
- Replacement Cost Claim Settlement - Claim payments may be based on the cost of replacing your damaged property, subject to policy conditions or provisions.