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Environmental Insurance

Environmental concerns continue to be a leading societal and business risk issue, sometimes posing serious, unexpected challenges. We can customize a solution to keep you protected.

The cost of environmental damage to your business

Businesses are facing tougher environmental laws and greater public scrutiny. So, when your business accidentally causes pollution, contamination or other environmental damages, it can be costly all around.

Areas where Business Insurance is not enough

The loss of business and replacement or repair of your business’s equipment is a hefty price in itself, but your business could also face damages for the clean-up operation. Usually, these types of costs are not covered by general Business Liability Insurance, so you’ll need a specialized Environmental Insurance policy to protect your business.

Why do you need Environmental Insurance?

It’s particularly essential if you face long-term risks, such as historic contamination that results from business operations in the past, but causes damage now. Many environmental insurance policies also cover the costs of defending claims, whether or not they result in a damages award. Additionally, holding Environmental Insurance for your business is a great public relations move – it shows you’ve given thought to the risks and have taken the advice insurers offer to reduce the likelihood of an accident.

But look out for Environmental Insurance policies that are automatically updated to reflect changes in the amounts that apply to damages for breaching environmental regulations.

Environmental Insurance 101

Make sure you cover the unique risks you face with Environmental insurance.

  • 1 Click on the hotspots.
  • 2 Discover your risks.
  • 3 Get the right coverage.

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As an independent agency, we are here to help you find the right coverage.

  • 1 Fill out the form, we’ll be in touch.
  • 2 Go over your options with an agent.
  • 3 Get the coverage you need.

Get in touch with an agent today!

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Lead

Risk Factor

Many old apartment buildings contain lead-based paint, which is now known to be very harmful if absorbed into the body. Small amounts of lead can cause serious health issues and larger amounts can be fatal.

Solution

Premises pollution policies provide coverage for removal of lead-based paints and other lead hazards. It can defend against legal claims of injury caused by the lead as well as medical monitoring for ongoing concerns.

Note: Actual policies must be consulted for specific terms and conditions.

Business Income

Risk Factor

If a building is contaminated by mold, lead, asbestos, or other hazardous materials, it may be deemed uninhabitable. Owners who are unable to collect rent from tenants can suffer from significant income loss as a result.

Solution

A premises pollution policy can also provide coverage for business interruption losses including rental income, relocation, mitigation, net profits, and payroll.

Note: Actual policies must be consulted for specific terms and conditions.

Mold

Risk Factor

Some water leaks are very obvious so they’re able to be repaired timely. Others are more discreet, causing mold to grow unnoticed. Mold is a health hazard that can make tenants very sick.

Solution

Premises pollution policies can include coverage for remediation of mold and damage to the property. It can also provide coverage for defense of claims of bodily injury as well as court-awarded damages.

Note: Actual policies must be consulted for specific terms and conditions.

Asbestos

Risk Factor

Asbestos is a heat-resistant material that was commonly found in insulation, drywall, ceilings, and floor tiles up through the mid-1970s and later. Asbestos is known to cause severe lung damage.

Solution

A premises pollution policy can also provide coverage for business interruption losses including rental income, relocation, mitigation, net profits, and payroll.

Note: Actual policies must be consulted for specific terms and conditions.

On-site Oil Spill

Risk Factor

A broken pipe or the mis delivery of heating oil can result in a hazardous spill and a costly clean up. Other chemical spills can be equally detrimental for building owners. Spills can also go beyond the property line, causing third-party damage.

Solution

It can be very expensive to clean up after a hazardous material spill like oil or gasoline. If the damage extends beyond your property onto your neighbors, those costs go up exponentially. Because this sort of accident can happen quite easily, proper premises pollution insurance is essential to help mitigate the financial risk.

Note: Actual policies must be consulted for specific terms and conditions.

Get A Quote

As an independent agency, we are here to help you find the right coverage.

  • 1 Fill out the form, we’ll be in touch.
  • 2 Go over your options with an agent.
  • 3 Get the coverage you need.

Get in touch with an agent today!

It only takes a minute to get started!

Name