Hanover Real Estate Advantage targets commercial real estate owners and managers who generate a majority of their income from the following real estate types. Our appetite for real estate varies by state, size of risk and line of business. Please contact your local underwriter to discuss specific opportunities.
Real estate operations
- Property owners
- Real estate investment trusts (REITs)
- Real estate professionals (brokers and commercial property managers)
- Class A condominiums
Tenant occupancies
- Condominiums
- Light industrial, flex or warehouse properties
- Retail properties
- Office buildings
- Mixed-use buildings
Not in appetite
- Aging services occupancies
- Contract development construction
- Fully residential exposures (outside of Class A condominiums)
- Mini-storage units
- Residential development construction
Visit Hanover Specialty Excess & Surplus for additional classes eligible for non-admitted coverage.
Property and general liability
Property
- Selection of base property broadening endorsements that add or enhance more than 65 coverages
- Add the real estate property broadening endorsement below to a base property endorsement to further tailor industry-specific coverage.
Real estate property broadening endorsement 411-0800 |
|||
|---|---|---|---|
| Coverage | Limits | Coverage | Limits |
|
Alternative key systems |
$100,000 |
Extended business income |
365 days |
|
Business income and extra expense — retail anchor store property |
$150,000 |
Paved surfaces |
$50,000 |
|
Commercial tenant replacement expense |
$50,000 |
Realty tax assessment |
$75,000 |
|
Emergency evacuation expense |
$25,000 |
|
|
General liability
- Suite of general liability broadening coverage that add or enhance over 20 coverages
- Add the real estate general liability broadening endorsement below to the base general liability broadening endorsement to further tailor coverage.
CGL enhancement endorsement – real estate 421-2924 |
|||
|---|---|---|---|
| Coverage | Limits | Coverage | Limits |
|
Additional insured — broad form vendors |
Included |
Incidental malpractice (employed nurses, EMTs and paramedics) |
Included |
|
Aggregate limit per location |
Included |
Mobile equipment redefined |
Included |
|
Alienated premises |
Included |
Personal injury — broad form |
Included |
|
Broad form named insured |
Included |
Property damage legal liability |
$1,000,000 |
|
Extended property damage |
Included |
Tenants-in-common as named insured |
Included |
Additional coverage options
- Contingent property coverage
- Emergency event management coverage
- Broad form named insured real estate endorsement
- Commercial real estate owners and managers-specific endorsements
- High-end condominium and co-op owner associations-specific endorsements
- Automobile
- Umbrella
- Workers’ compensation
Visit Hanover Specialty Excess & Surplus for non-admitted property and casualty coverage.
Professional and executive lines
Professional and executive lines
Surety
Surety
- Commercial surety bonds including agent bond, lease bond, lost instrument bond and appraisal management bond
We offer risk management and claims solutions designed to help real estate owners, operators and managers address property, tenant and operational risk.
Risk management services
Our risk management services help real estate owners and managers proactively identify exposures, protect properties and reduce loss potential.
Key features
- Expert risk prevention support through onsite and remote assessments, on-demand learning, self-service tools and customized action plans designed for real estate operations
- Property-focused tools and resources supporting business continuity planning, contractual risk transfer guidance, and common exposure areas such as fall prevention, fire protection and electrical risk
- Technology-enabled risk mitigation, including The Hanover i-on Sensor ProgramTM and drone technology for roof evaluations to help identify potential issues early
Dedicated claims team
Our claims team brings real estate expertise and responsive support to help property owners and managers address complex incidents and minimize disruption.
Key features
- Dedicated specialists providing emergency water mitigation support with 24/7 response and IIRC-certified repair and restoration for water, fire and smoke damage
- Coordinated claims and safety support for large or complex accounts, with specialized teams, customized reviews and consistent points of contact
- Insights driven by claims experience with tools and analytics that help identify trends early and proactively address emerging issues
Tools and resources
The Hanover offers a suite of risk management tools and resources designed for real estate operations. These programs help property owners and managers identify exposures, reduce loss potential and support safer buildings, tenants and operations and are available at no cost to policyholders.
Our offerings include:
The Hanover Work Safe Program
- Workplace safety and workers' compensation support for real estate operations
- Proactive insights and claims coordination to identify trends early and support timely return to work
Business continuity planning
- Planning tools and guidance to help real estate owners and managers prepare for events that disrupt building operations, tenant access or income streams
- Recovery-focused resources to support faster response and continuity following property damage or operational disruptions
Contractual risk transfer (CRT)
- Guidance and resources to help commercial property owners manage risk through effective contracts and lease language
- Tools to support stronger risk allocation between owners, managers, tenants and vendors
Hanover Real Estate Advantage protects against the unique risks faced by realtors. Unlock the Hanover advantage.
Risk management services
We offer assistance with protecting against slip, trip and falls, electrical preventive maintenance and contract management.
Our partner vendors can help with alarm system and automatic sprinkler testing and maintenance, equipment theft prevention and recovery, training resources and business continuity.
Competitive products
Our innovative and comprehensive product suite provides options designed to fit current and future needs, including:
- Account-focused solutions
- Industry-specific broadening endorsements
Dedicated claims team
Our claims teams have years of industry expertise and experience handling the unique types of claims companies in real estate can face.
We employ experts in the fields of water mitigation, subrogation, risk transfer, litigation management, nurse and legal analysis, accounting and SIU.
Specialized underwriting
We have expert, local underwriting resources with national product claims and loss control services, all supported by regional experts.
Trusted partner
We offer the support and financial strength of an "A"-rated leading insurance carrier
Hanover Real Estate Advantage targets commercial real estate owners and managers who generate a majority of their income from the following real estate types. Our appetite for real estate varies by state, size of risk and line of business. Please contact your local underwriter to discuss specific opportunities.
Real estate operations
- Property owners
- Real estate investment trusts (REITs)
- Real estate professionals (brokers and commercial property managers)
- Class A condominiums
Tenant occupancies
- Condominiums
- Light industrial, flex or warehouse properties
- Retail properties
- Office buildings
- Mixed-use buildings
Not in appetite
- Aging services occupancies
- Contract development construction
- Fully residential exposures (outside of Class A condominiums)
- Mini-storage units
- Residential development construction
Visit Hanover Specialty Excess & Surplus for additional classes eligible for non-admitted coverage.
Industry resources
Real estate coverage scenarios
This risk review is designed to help identify instances of potential exposure and troubleshoot how The Hanover helps policyholders prevent risk.
Resources for your customers
Our Risk Solutions program includes onsite and remote assessments, on-demand learning, self-service tools and custom action plans that address the complex demands and issues facing your clients in the real estate industry.
Contractual risk transfer for commercial property owners
See all of our Risk Solutions resources for real estate
Customer tools
Let's start a conversation today
Contact a member of our team to learn more about our coverage and services, and how we can help you tailor a solution for you and your clients.
Property and casualty
Nicole Kemp
Director, Industry Solutions, Real Estate
952-897-3044
nkemp@hanover.com
Marine and industrial property
Chris Zaneski
Vice President, Distribution Management
240-638-5706
czaneski@hanover.com
Professional and executive lines
Greg Ketay
Vice President, Distribution Management
630-760-3045
gketay@hanover.com