Hanover Real Estate Advantage — coverage review
Your building is your business. No one understands that better than The Hanover. Your asset properties, and the income you receive from them, are far too valuable to leave underinsured. That’s why The Hanover offers extended coverage designed to help fully protect against costly catastrophes or business interruptions that you may never have considered. Compare The Hanover’s endorsements with your current policies and see how, in almost every category, The Hanover’s coverage provides superior value for your insurance dollar. These endorsements are available at a competitive price from your Hanover agent, who can review them with you in detail.
Property broadening endorsements highlights
Compare our property coverages against the industry standard and you’ll see why more and more real estate owners and investors rely on The Hanover’s real estate expertise.
Base property broadening endorsements
Our selection of tiered base property broadening endorsements — bronze, silver, gold, and platinum — allow you to choose the level of coverage that best aligns with your business needs. The endorsements consist of over 65 coverages and enhancements with amendable limits, including:
|
FEATURES |
INDUSTRY STANDARD |
THE HANOVER |
|---|---|---|
|
Denial of access to premises |
Limited coverage |
Included in building limit |
|
Lease cancellation |
Limited coverage |
Limits up to $50,000 |
|
Leasehold interests — tenants |
Limited coverage |
Limits up to $250,000 |
|
Key replacement and lock repair |
Limited coverage |
Limits up to $20,000 |
|
Tenant relocation |
Limited coverage |
Limits up to $50,000 |
|
Unintentional property reporting errors |
Limited coverage |
$500,000 |
Coverages included in blanket limit of insurance: limits up to $1,000,000
|
Accounts receivable |
Limited coverage |
Included |
|---|---|---|
|
Deferred payments |
Limited coverage |
Included |
|
Fine arts |
Limited coverage |
Included |
|
Fire department service charge |
Limited coverage |
Included |
|
Movement of property |
Limited coverage |
Included |
|
Outdoor property |
Limited coverage |
Included |
|
Personal effects and property of others |
Limited coverage |
Included |
|
Research and development documentation |
Limited coverage |
Included |
|
Valuable papers and records |
Limited coverage |
Included |
Real estate property broadening endorsement
You can add the real estate property broadening endorsement to your selected base property broadening endorsement to further customize your coverage to address industry-specific exposures.
|
FEATURES |
INDUSTRY STANDARD |
THE HANOVER |
|---|---|---|
|
Alternative key systems |
Limited coverage |
$100,000 |
|
Emergency evacuation expense |
Limited coverage |
$25,000 |
|
Extended business income |
Limited coverage |
365 Days |
|
Paved surfaces |
Limited coverage |
$50,000 |
|
Realty tax |
Limited coverage |
$75,000 |
|
Retail anchor store business income |
Limited coverage |
$150,000 |
|
Tenant replacement expense |
Limited coverage |
$50,000 |
|
Broadened valuation clause |
Limited coverage |
Included in building limit |
Real estate contingent property endorsement highlights
|
FEATURES |
INDUSTRY STANDARD |
THE HANOVER |
|---|---|---|
|
Contingent real property |
None |
Available |
|
Contingent property rental income |
None |
Available |
|
Newly leased contingent property |
None |
$1,000,000 for 90 days automatically included on endorsement |
General liability endorsement highlights
|
ENDORSEMENTS |
INDUSTRY STANDARD |
THE HANOVER |
|---|---|---|
|
Newly acquired LLCs, LLPs, and LPs |
None |
90 days |
|
Real estate additional insureds |
None |
Extends the additional insured coverage for LLC, LLP, and/or LP additional insured to include their members and managers |
|
Newly leased contingent property |
None |
$1,000,000 for 90 days automatically included on endorsement |
General liability broadening endorsements
The Hanover’s suite of general liability broadening coverages add or enhance over 20 important coverages, including:
- Additional insured by contract, agreement, or permit
- Additional insured broad form vendors
- Additional insured primary and non-contributory
- Aggregate limit per location
- Property damage legal liability — broad form
- Unintentional failure to disclose hazards
- Unintentional failure to notify
- Tenants in common as named insured
- Blanket waiver of subrogation
Property improvements start with your agent.
Your Hanover agent can provide more information on any aspect of these endorsements. Partner with your Hanover agent today to make sure you get the right coverage needed to adequately protect all aspects of your real estate investment.
114-1048 (4/16) LC 10-44S