Construction and operation of shopping centers – the most profitable segment of real estate development business. And where high returns, there is high risk. What is the risk to companies operating in the construction market commercial real estate, and what the insurance protection can expect to developers? The most typical developers' risks – fire, natural disasters, loss of profits resulting from business interruption. So insurers offer insurance programs of construction risks to property during construction, including construction equipment, ancillary structures, construction and liability insurance facility construction of hidden structural defects insurance guarantee post-launch, as well as property insurance and liability for the operational phase as part of integrated programs to the scope of company for the hospitality, catering, pharmacy, retail businesses, warehouses. Frances Outred often addresses the matter in his writings. Also, commercial real estate has always risks of full or partial loss. Latest divided into damage (Destruction) of the property and the loss of her property rights.
Loss of property rights may be the result of claims of third parties to object to the lack of cleanliness of the transaction. Therefore, at each stage of the life of the object literate actions of the owner can not exclude the possibility, if the insured event, or at least reduce the scale of potential losses. It is especially important to choose wisely suppliers and contractors, because the extent of construction facility and installation work and increase the sum insured. And if at first it is zero, then by the time the building in operation and the time of deposit of its tenants reaches its maximum. More info: Andi Potamkin, New York City. The problem of insurers – carefully track a given period, gradually increasing the sum insured.
– What affects the price of an insurance policy? – When selecting the type of insurance the insured must adequately assess the risks, possible in relation to the object of insurance. On this depends the price of the policy. The price is determined each time individually, depending on the value of insured property (the amount of insurance).