Commercial Earthquake Deductible Buydown
by Cansure
- Property and Casualty
- Buy-down the Earthquake deductible amount to as low as 5% to a maximum buy-down limit of $3,000,000. Commercial property must be located in British Columbia, with a maximum overlying TIV of up to $50,000,000. Coverage is limited to designated premises.
- Buildings with exterior walls constructed of brick, stone, or hollow concrete block built after 1985. All Other Construction built after 1965.
Product Overview
Commercial Earthquake Deductible Buydown by Cansure helps commercial property owners manage the high costs of earthquake deductibles. This product is designed for businesses looking to protect their assets in earthquake-prone areas.
It allows clients to reduce their earthquake deductible to as low as 5%, with a maximum buy-down limit of $3,000,000. The coverage is available for commercial properties in British Columbia, with a total insured value of up to $50,000,000.
Buildings must meet specific construction standards, such as brick, stone, or hollow concrete block built after 1985, or other types built after 1965. The product is available across all provinces, but the main focus is on British Columbia.
Insurance brokers need a contract with Cansure to offer this solution to clients. The Commercial Earthquake Deductible Buydown by Cansure is part of their property and casualty insurance line.
About Commercial Earthquake Deductible Buydown by Cansure
This insurance product offers a strategic way for businesses to strengthen their financial resilience against earthquakes. It is tailored for designated premises and commercial clients who want more control over their deductible exposure.
For more details or to get a quote, brokers can reach out to the underwriter via the ‘Contact Underwriter for Quote’ feature or explore the references on this product page. This makes it easy to take the next step with Commercial Earthquake Deductible Buydown by Cansure.
Commercial Earthquake Deductible Buydown by Cansure FAQs
What is the main purpose of the policy?
The main purpose of the Commercial Earthquake Deductible Buydown by Cansure is to help commercial property owners lower their earthquake deductible. This product gives businesses more control over their financial exposure to earthquake risks by reducing deductible costs.
What is the maximum buy-down limit available through this product?
The maximum buy-down limit for the Commercial Earthquake Deductible Buydown by Cansure is $3,000,000. This limit allows businesses to reduce their deductible by a major amount, making recovery after an earthquake more manageable.
Does the Commercial Earthquake Deductible Buydown by Cansure require a broker contract?
Yes, insurance brokers must have a contract with Cansure to offer the Commercial Earthquake Deductible Buydown by Cansure. This ensures only authorized brokers can provide access to this specialized coverage for commercial clients.
What is the maximum total insured value (TIV) allowed for properties covered by this product?
The maximum total insured value (TIV) for properties eligible for the Commercial Earthquake Deductible Buydown by Cansure is $50,000,000. This limit applies to each designated commercial premises that meets the product’s requirements.
In which provinces is the Commercial Earthquake Deductible Buydown by Cansure available?
The policy is available in all provinces across Canada. The main focus for coverage is on commercial properties located in British Columbia, where earthquake risk is higher.
Are there any exclusions to coverage under this product?
Exclusions for the Commercial Earthquake Deductible Buydown by Cansure include properties that do not meet construction standards or are not designated premises. Only brick, stone, or hollow concrete block built after 1985, and other construction after 1965, are eligible.
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