The insurance that protects your cash flow!!!
This is precisely the purpose for which loss of profits insurance (or, by its other name, consequential loss insurance) is intended for holders of income-producing real estate or business owners. An example may clarify how important this policy is to you.
You own real estate (an office building, for example) and God forbid, a fire has occurred, some, most, or all of the offices are no longer suitable for use until they are renovated. The tenants have no choice but to move to another office, and of course, they have stopped paying the rent.
The policy, in the form of loss of rent, also protects you from an even worse situation in which you have obligations against the income-producing real estate - a loan, a mortgage... - and the monthly payments against them continue to decrease from your bank account, dragging you into losses to the point of financial ruin.
The only question left is who to insure with when the leading consideration is maximum coverage at minimum cost
Loss of Profits Insurance
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Itzik Simon, the leading insurance agency in the construction industry
Let's start with over 35 years of specialization in construction industry insurance. But not to impress - more important is the meaning of this number: extensive experience in all types of construction industry insurance, countless income-producing real estate and holdings insurance policies, construction companies insurance, contractors insurance, developers insurance, and TAMA 38 insurance that we have issued. During those years, there is almost no insurance event we haven't seen, including cases no one would dream could happen. This is the power and great advantage of experience that taught us about the dangers, malfunctions, accidents, their causes, and ways to prevent them. We also learned to perform comprehensive risk analysis and meticulous policy planning, and in the bottom line, how to build you a policy or loss of profits insurance coverage at minimum cost and maximum coverage.
✔ Maximum insurance coverage. The 'unexpected' is a main player here. It happens in a moment and there can be thousands of factors for malfunctions and damages over which you have no control. No real estate asset is similar to another. Not in location, not in size, not in the environment in which it is located (industrial zone, residential environment) and a variety of other influencing factors. Hence the importance of the rich experience that taught us how to adapt the appropriate insurance to each building with a meticulous and professional insurance specification and with as many extensions and protections as possible. Moreover, we make sure to go out to the field, see the property, get an impression, perform risk analysis - and based on all these: perform meticulous policy planning for you.
✔ Minimum cost. Let's make it simple and short. We buy insurance products in large volumes and therefore insurance companies issue us insurance policies at much more attractive prices and on much more comfortable terms. And who benefits from all these are our clients.
✔ Walking alongside you. To the reduced costs, attractive terms, and extended insurance coverage are added immediate availability and close professional accompaniment. We are here to provide you with a response at all times, guidance and advice to keep you protected and make adjustments according to changing needs. Furthermore, upon the occurrence of an insurance event, we build a team of professionals - insurance assessors, surveyors, engineers - whose sole purpose is to realize your rights according to the policy and allow you to recover quickly.
Income-producing real estate insurance and holdings
If you have many businesses in different sectors of the economy (not just construction), your business is probably insured by many agents, each responsible for a different policy. This is a sure recipe for high policy costs, duplication and/or partial insurance coverage, and quite a few headaches such as: controlling different renewal dates throughout the year. Having multiple policies, agents, and agencies handling your insurance portfolio is also a recipe for a variety of insurance strategies that don't see the big picture. Now, imagine if everything was concentrated in one set of policies, built on the big picture of your business. How many advantages would fall into your hands...
Property damage insurance
Property damage insurance, commonly known as extended fire insurance, is actually one policy from a set of policies alongside third-party insurance, employers' liability insurance, loss of profits insurance and additional secondary insurance such as: finances, trust, mechanical breakdown, electronic equipment, etc. The word "extended" is very significant and encompasses our exclusive advantages, which allow us to obtain for you the broadest insurance coverage at the lowest cost. Among the tools we make sure to use when building you optimal insurance coverage are: preliminary risk analysis and careful planning of each insurance policy, and of course, decades of experience and senior status in insurance companies....
Third party insurance
An asymmetrical staircase, a lack of maintenance, a fire that spreads from a property you own to your neighbors' properties, or a water pipe that bursts and floods the floors below... and you have a range of scenarios that require third-party insurance 'at your fingertips'. These scenarios, which are nothing more than 'insurance risks', must be minimized to a minimum. We have a diverse 'toolbox' that includes, among other things: in-depth risk analysis and smart and meticulous policy planning that takes into account all of your assets, addresses, and possessions. These two tools are the basis of all income-generating real estate and holding insurance policies, such as property damage insurance and employers' liability insurance, and in particular, third-party insurance...
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