• Apartment


    COrE COvErAGE HiGHliGHTS

    Travelers Apartment business owners policy offers an affordable way for you to obtain property and liability insurance. This policy includes

    key coverages that are important to any business, and also offers additional business-specific options that are important for any apartment owner.

    Property highlights

    Property coverage covers your building and business personal property for replacement cost with no coinsurance.

     

    •     Appurtenant buildings and structures:

    –    Coverage for appurtenant buildings and structures is included up to $50,000

    •     Building glass:

    –    Coverage for building glass is included, with several deductible options available

    •     Business income and extra expense:

    Covers income that is lost due to suspended operations caused by damage at the described premises from a covered cause of loss. This is an optional coverage for Pac PlusSM.

    –    Apartment PacSM

    –    Automatically included and includes rental value

    –    Included on an actual loss sustained basis for up to 12 consecutive months

    –    Coverage may also be written on a policy or location level basis for any dollar limit without the 12-month limitation

    –    Apartment Pac PlusSM

    –    Optional

    –    When selected, the coverage may be written with a policy or location level dollar limit. The dollar limit is based on 80 percent of annual rents and may be modifi

    •     Business personal property off premises:

    –    Coverage for business personal property off premises is provided, including while in transit or temporarily away from the scheduled premises and at a premises you do not own, lease or operate; or at any fair, trade show or exhibition


     

    •     Employee dishonesty:

    –    Coverage is included up to $25,000 (with an option  to cover property managers as employees). Limit may be increased

    •     Equipment breakdown:

    –    Coverage for equipment breakdown is included within applicable limits

    –    Diagnostic equipment, power-generating equipment and production equipment are limited to $100,000 for direct damage. Limit may be increased

    –    Service interruption of water, communication or power supply services is covered from a covered breakdown (when business income and extra expense is covered)

    •     Newly acquired or constructed buildings:

    –    Coverage is provided for newly acquired or constructed buildings up to $500,000 for up to 180 days

    •     Ordinance or law coverage:

    –    Coverage is included for a combined limit of $25,000 at each described premises. Limit may be increased

    •     Outdoor trees, shrubs and plants:

    –    Coverage for outdoor trees, shrubs and plants is provided for all covered causes of loss up to $3,000. Limit may be increased

    •     Signs:

    –    Coverage for signs within 1,000 feet is included within the building limit when building coverage is written

    •     These items are considered part of building coverage:

    –    Alarm systems

    –    Appliances used for refrigeration, ventilating, cooking, dishwashing or laundering

    –    Fences

    –    Fire extinguishing equipment

    –    Floor coverings

    –    Lawn maintenance and snow removal equipment

    –    Lobby and hallway furnishings

    –    Outdoor furniture

    –    Outdoor swimming pools

    –    Retaining walls


     

    General liability highlights

    General liability coverage protects you against claims for damages because of bodily injury or property damage to others resulting from your business operations.

     

    •     General liability limits of $1 million per occurrence/

    $2 million aggregate are standard for Apartment Pac and

    Apartment Pac Plus with an option for higher limits of

    $2 million per occurrence/$4 million aggregate available for Apartment Pac

    •     Bodily injury and property damage liability

    •     Medical payments for $5,000 per person

    •     Damage to premises rented to you is included up to

    $300,000. Limit may be increased

    •     Host liquor liability

    •     Limited worldwide coverage

    •     Personal and advertising injury

    •     Premises liability

    •    

    Popular options for apartments

    •     Power PacSM property coverage endorsement – enhances coverage in 20 key areas. See chart on reverse side for more details.

    •     Building owners endorsement – enhances coverage in key areas for your owned buildings:

    –    Debris removal limit increased from $25,000 to $50,000

    –    Lessor’s leasehold interest coverage is added for up to $25,000

    –    Tenant move back expenses coverage is added for up to $25,000

    –    Utility services – direct damage coverage is added for up to $10,000

    –    Ordinance or law – increased to $100,000 per premises/ $250,000 per occurrence with higher limit options available

    •     Other options available:

    –    Higher limits for most individual coverage extensions

    –    ERISA

    –    Sewer or drain backup

    –    Hired and non-owned auto liability

    •     XTEND Endorsement®  for liability coverage enhancement – it provides 15 extensions of coverage including:

    –    Broadened named insured

    –    Blanket additional insured – managers or lessors of premises or leased equipment

     
    Products/completed operations liability


    Coverage features for Power Pac endorsement (MP T9 70)

     

    Accounts receivable – at described premises                                                                                                                                   $25,000                                               Current limit increased by $100,000 Accounts receivable – in transit or at a location other than described premises                                               $25,000                                               Current limit increased by $100,000 Brands and labels                                                                                                                                                             None                                                    $25,000

    Business income and extra expense – dependent property                                                                                                         $10,000                                               $25,000

    Business income and extra expense – newly acquired premises                                                                                                 $250,000                                             $500,000

    Claim data expense                                                                                                                                                                                 $5,000                                                 $10,000

    Computer fraud                                                                                                                                                                                     None                                                    $5,000

    Electronic data processing equipment/data/media – electronic vandalism                                                                                  $25,000                                                                                                                                                                                                                   $50,000 Electronic data processing equipment/data/media – in transit or at a location other than described premises      $25,000                    $50,000 Extended business income                                                                                                                                                                                                      60 Days                                                                                                                                                                                                                   90 Days

    Identity fraud expense                                                                                                                                                                           None                                                    $15,000 (annual aggregate limit)

    Limited building – tenant obligation                                                                                                                                                  None                                                    $5,000

    Lost key consequential loss                                                                                                                                                                 None                                                    $500

    Newly acquired or constructed property – business personal property                                                                                   $250,000                                             $500,000

    Ordinance or law – increased period of restoration                                                                                                                       $25,000                                               $50,000

    Ordinance or law – tenants improvements and betterments                                                                                                       Not included                                    Included

    Outdoor trees, shrubs, plants and lawns                                                                                                                                         $3,000                                                 $5,000

    Unauthorized business card use                                                                                                                                                        None                                                    $5,000

    Utility services direct damage – water, power and communication                                                                                             None                                                    $2,500

     

    Total account solution – Travelers also offers competitive coverages and rates for:

     


    Workers  compensation

    In today’s ever-changing workers compensation climate, it is critical to have the best insurance carrier working with you to protect your employees and fight rising loss cost trends.

    Travelers offers:

    •     Claim and medical professionals to promptly handle, investigate and resolve your claims

    •     Early intervention medical networks and return-to-work strategies to control claim costs, enabling your injured employee to return to work when medically appropriate

    •     Information directly to the injured employee via the Internet. Employees can go online to review their claim payment information and obtain medical self-care tips

    •     Workers compensation may also be written on a stand-alone basis


    Automobile

    To protect against liability or physical damage losses.

    Travelers offers:

    •     Commercial auto coverage providing protection for physical damage to and liability for use of your owned autos

    •     Ability to tailor coverage for hired and non-owned auto exposures

    •     Capacity to write multi-state exposures on one policy*

    •     Select Auto CoveragePlus® endorsement adds thirteen new coverage enhancements in one coverage form

    (not available in all states)

    * Multi states capability does not apply in HI and MA


    Umbrella liability

    Provides protection above the general liability, automobile liability and employer’s liability coverages on your underlying insurance policies. The Umbrella policy can provide primary coverage in certain situations depending on the scope of the underlying coverage.

    Travelers offers:

    •     Protection above the general liability, automobile liability and employer’s coverages on your underlying insurance policies

    •     Coverage includes:

    –    Broadened definition of named insured

    –    Expanded definition of bodily injury

    –    Worldwide territory

    –    Automatic coverage for newly acquired or formed organization without the 90-day limitation

    •     Umbrella limits are available for up to $25 million of total aggregate protection


    Apartment Building Insurane
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