Commercial Monoline Property
What is a Commercial Monoline Property policy?
A Commercial Monoline Property is an insurance policy that insures against damage to property, including buildings and contents, for risks not typically covered in a standard package policy.
When would you choose to purchase a Commercial Monoline Property policy?
In general, a monoline policy is used for a single line of insurance that may be excluded or doesn't provide adequate coverage in a package policy.
For example, if you have a Commercial Package Policy or Businessowners' Policy that doesn't provide sufficient coverage for your property, you will need to purchase a separate Commercial Monoline Property policy.
What are some reasons why you would need a separate Commercial Monoline Property policy?
Companies purchase a Commercial Monoline Property when:
- The package policy excludes a high risk that would require you to purchase a separate policy.
- The risk is too large for one policy and to be fully covered would require multiple policies to increase your policy limit.
- You need a custom solution to cover a specialized risk, such as coverage for a risk not covered in a typical package policy.
What are some businesses that can benefit from a Commercial Monoline Property policy?
Some businesses that could benefit from a Commercial Monoline Property policy include:
- Office Buildings
- Shopping Centers
- Apartment Buildings
Contact an insurance agent for more information
If you have questions about what insurance coverage is right for you, talk to an insurance agent. They will guide you on the best options available for your business needs. Contact us to find an agent in your area.Find an Insurance Agent Near You