Understanding your insurance coverage before the unexpected happens will help you understand your overall financial risks. Without a committed insurance partner like NEC, you and your family may be exposed to risks in which you are unaware.
Here are some definitions that will help you better determine what risks you have in the event of fire.
Builders Risk: A property insurance policy that provides direct damage coverage on buildings or structures while they are under construction. It also covers foundations, fixtures, machinery, and equipment used to service the building, materials, and supplies used in the course of construction.
Fire – Real Property: Coverage of your real estate property against the peril of fire.
Fire and Allied Lines: Insurance covering the peril of fire damage to property, as well as extended coverage which includes other perils such as windstorm, hail, explosion and riot, along with resultant damage caused by smoke and water. Allied lines provide further coverage against perils such as sprinkler leakage, rain, and non-fire related water damage and earthquake.
Personal Property: Property that is not attached to real property and/or property other than real estate, or property that is movable or separable from real estate; tangible property which is often called contents. Personal property may be used for business purposes and, therefore may be covered by a commercial policy, while personal property not used for business is generally covered only by personal lines policies such as homeowners or renters insurance.
To determine if you have the insurance protection you need, call your professional insurance representative at NEC today at 636.271.2481, or contact Joe Bosse, President at email@example.com for more information.
NEC is one of the largest independent insurance brokers in Missouri offering business and personal insurance, risk prevention, and financial services. Our size allows us to provide you with the best price for the depth of services you receive. Contact us today for more information at 636.271.2481 or visit NECins.com.