Loggers Broad Form Property Damage Liability

This is basically a fire legal liability coverage form. It protects the “care, custody, and control” exposure of logging contractors that log on land owned by others or on land that has standing timber that belongs to others. It pays all amounts the insured logger is legally obligated to pay because of physical damage to or destruction of tangible property … Read More

Installment Sales Floater

Retail stores that sell merchandise on time payments or on deferred payment plans have an insurable interest in the merchandise until the customer makes the last payment. If such merchandise is damaged, the customer stops making payments and the store sustains a loss. Installment sales coverage indemnifies the store for the unpaid or outstanding balance owed on the merchandise that … Read More

Bailees Customers Insurance

Almost any business that takes in property of others for cleaning, repair, or processing can insure that property under a bailees customers coverage form. The most common example is laundry/dry cleaners, but furriers, jewelers, radio and television repair businesses, and metal and fabric processing risks can also purchase this insurance. This coverage is written on inland marine coverage forms that … Read More

Warehouse Operators Legal Liability

This coverage insures the liability imposed by law on the insured for loss of or damage to (or destruction of) property of others that is in its warehouse. It is written on inland marine coverage forms and policies but is essentially a legal liability bailee coverage. Values can be significant.

Furriers Coverages

Furriers require two types of coverage on furs. One is traditionally referred to as furriers’ block and covers the retailer, wholesaler, or manufacturer’s owned stock of furs. The other is usually referred to as the furrier’s customer’s policy. It covers customers’ furs while in the insured’s custody. Programs are available that offer both coverages under a single policy. Coverage is … Read More

Jewelers Block

Jewelers block coverage is not limited to only retail jewelers. Any risk that has jewels, jewelry, or precious metals in its inventory needs this coverage because standard commercial property policies limit coverage on such property. Every market for this coverage requires detailed applications, known as proposals that become part of the policy. Security systems with maintenance agreements are required and … Read More

Gun Collection Floaters

Guns and gun collections are very attractive to burglars. The theft limits that homeowners coverage provides for firearms is relatively low. Gun and weapons collections’ values will substantially exceed this limit. A few specialty property insurers insure large gun collections on a scheduled basis. Insureds must maintain accurate records of the cost of each weapon and appraisals or formal estimates … Read More

Art Collections

Public and private art collections are difficult to insure because of the high value of certain pieces of art and their susceptibility to loss from a number of perils or causes of loss. Underwriters’ concerns include security and fire protection arrangements, regardless of where the collection is located.

Art Galleries

In most cases, coverage applies to art on consignment to the art gallery or dealer, in addition to the dealer’s own property. It also insures art that customers remove for approval and art being transported. The value of the work of art is based on the dealer’s costs for the work. Dealer’s costs include the dealer’s purchase price plus transportation, … Read More

Collectibles

Hobbyests collect a wide variety of objects. In addition to United States and foreign coins, currency and postage stamps, other collectibles include postcards, matchbook covers, beer cans, sports trading cards, dolls, buttons, and glass bottles, to name just a few. The number and types of possible personal collections are virtually unlimited. It is difficult to determine the value of some … Read More