Commercial Property Insurance

PRODUCT
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Property & Crime Insurance

ENCON’s Property and Crime insurance is offered as a complement to professional liability and errors and omissions insurance policyholders. Property insurance covers building(s) and business contents and indemnifies an insured whose property is stolen, damaged or destroyed by a covered peril. Crime insurance provides coverage for the perils of burglary, theft and robbery.

Eligibility

Property and Crime packages are available for most classes of business under:

  • Technology Insurance
  • Professional Liability for Architects and Engineers
  • Errors and Omissions
  • Non-Profit Directors and Officers Liability (to policyholders with low-to-moderate property and crime exposures, such as offices)

Coverage Details

  • Policy Form – Industry-standard “all risk” form
  • Policy Period – Annual policies (the expiry dates shall coincide with the anniversary date of the professional liability or E&O policy)
  • Capacity – Business contents basic limit starting at $30,000 (higher limits available upon request)
  • Property Deductible – $1,000 except for major perils as follows:
    •  $10,000 floor
    • $2,500 sewer back-up
    • Five per cent or minimum $100,000 earthquake (may be higher for certain locations in Quebec and British Columbia)
  • Premiums – Starting at $500
  • Territory – Canada and the continental United States

Policy Features

General Features
  • Financial security and claims service are provided by Aviva Insurance Company of Canada
  • Standard broker commission for Property and Crime insurance packages is 20 per cent
Property Insurance Features
  • Broad “all risks” form (including coverage for the perils of earthquake, flood and sewer back-up) for building(s) and business contents for amounts of insurance quoted
  • Coverage includes extensions for building bylaws, inflation guard and replacement cost
Crime 3D Insurance Features
  • Comprehensive 3D Rider, including employee dishonesty form A, loss inside/outside, money orders, counterfeit currency and depositors forgery

Submission Requirements