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Extended Fire Insurance
The policy originally provided basic coverage for fire damage caused by lightning and fire, hence the name “Fire Insurance Policy”.
Today, the policy has been greatly extended, hence its current name: “Extended Fire Insurance”.
It is based on defined risks that are explicitly stated in the policy.
The additional risks in the “Extended Fire Insurance” policy also include:
- Explosion: The extension includes explosion damage to the insured property. In some policies, the coverage does not include damage caused to boilers, savers or other containers, appliances or pressurized devices or their contents, as a result of their explosion. Malicious act injury.
- Smoke damage.
- Accidental liquid damage: Resulting from bursting or overflowing water tanks and/or pipes, except in case of corrosion.
- Collision damage: With vehicles or animals not owned by the insured.
- Riots and strikes.
- Fallen objects from aircraft.
- Burglary: Theft of property from a business premises carried out after breaking and entering the insured premises, provided that the break-in or exit is violently and forcefully executed and there are visible signs to indicate this.
- Natural disaster: Storm, whirlwind, flood, snow and hail.
- Earthquake, and/or volcanic eruption damages, including fire caused as a result.
- Terrorist act damages: Including a premium covering physical injury resulting from terrorist acts, and excluding the compensation received from The Property Tax Authorities.
It is important to know that additional coverage can be included in the policy for an additional premium.
The experienced team of underwriters in the “Betach Toren” business department will draw up the most appropriate policy for your business needs, including:
It is important to know that additional coverage can be included in the policy for an additional premium. The experienced team of underwriters in the "Betach Toren" business department will draw up the most appropriate policy for your business needs, including:
- Expanding the 'Name of the Insured Party' in the policy to include subsidiaries and/or affiliated companies and/or company owners and/or company managers and/or company employees - as required.
- Adding any entity and/or individual and/or authority to whom the client has committed via the insurance policy in accordance with the signed agreements.
- Examining whether the structure where the client operates the business is self-owned or rented and making the relevant adjustments in the insurance policy.
- Making the relevant adjustments to the policy if there are rental and/or lien agreements.
- Reviewing contracts and insurance certificates, and more...
- Consequential Damages Insurance
As a rule of thumb, property insurance policies cover direct damages only. No coverage is granted for consequential damages unless otherwise stated in the policy.
We at “Betach Toren” can expand your insurance array to cover consequential damages according to your business needs.
Appropriate coverage must be purchased within the policy framework, depending on the type of consequential damages coverage sought after. For example:
- Loss of rent
- Document recovery expenses
- Spoilage of goods
- Show cancellations - in dedicated policies
Loss of profits insurance
Loss of profits coverage (also known as Business Interruption Insurance) provides financial protection for consequential damages caused to the insured due to cessation of business activity due to an event covered by the property insurance policy.
This covers an actual loss incurred by the insured party during the indemnity period specified within the insurance policy for loss of gross profit.
Damages insured in the Loss of Profits Insurance Policy
Compensation for loss of gross profit due to reduced turnover and/or increased operating expenses, accountant’s salary, etc.
Contact us
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Tel Aviv Branch
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Address:
26 HaMasger St., Tel Aviv -
Phone
077-8012345 -
Fax
03-6396299
Haifa Branch
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Address:
177 HaHistadrut Ave., Haifa -
Phone
077-8012300 -
Fax
04-8492525
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