- Posted May 1, 2014 by
new york city, New York
Nybagelcafe ny bagel cafe & deli business insurance
nybagelcafe restaurant Tenants are required to ensure their businesss against rental risks. That is to say they must protect the property they use against all kinds of damage as the risk of fire, water damage, explosion ... The lack of insurance is even a clause termination of the lease by the landlord.
Regarding the co-owner, his house should be insured against any damage it might cause to the common areas ( stairs, roofs, walls, ..) or its private parties ( private residence of the owner ). In this disaster, businessowners insurance is to indemnify the other co-owners for any damage caused to the common elements or their own private parties.
nybagelcafe restaurant The owner of a single dwelling (that is to say, not co-owned housing ), as a house, for example, has no obligation to make because it can not normally cause damage to its neighbors. However, in practice remains vital business insurance to cover its own repairs due to damage as much as the contribution of such insurance is not expensive compared to the cost of repairs to initiate disaster .
Evaluate its movable assets at fair value
ny bagel cafe & deli restaurant At the time of signing the contract business it is necessary to evaluate its movable assets at fair value in order to receive fair compensation in the event of a disaster. An underestimation of the value of its assets may cause a reduction of the compensation paid in case of disaster .
To evaluate their own personal property at fair value, account must be taken of the principle of compensation retained in the contract:
Obsolescence value derived is the value of a property that reflects its aging or obsolescence. Such compensation does not retool with the same properties as the reimbursement received is less than the price of new. In contrast, the contribution of the housing contract will be lower than another type of contract;
The new value can be compensated for its property to its value at the time of loss. This type of reimbursement is the best because it allows to retool to nine after a disaster, without paying a supplement, but the premium will be higher.
With regard to claims incurred not the property, compensation is generally carried out reconstruction value, that is to say, the insurer compensates you so that you can rebuild your property as it was before the disaster.
The casualty contract housing often has several franchises in terms of loss. It is necessary to carefully read the terms and conditions, which are specified all franchises in force and maximum amounts of compensation. The higher the deductible, the higher the contribution of the contract will be expensive because the insurer will have less to pay in the event of a disaster.