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Institutional Insurance

 

Sterner Insurance Agency - Apple Valley, MN Your Institutional Insurance Expert



 

Listed below are the typical non-liability coverages and package limits available 

 

Non-Liability Only Coverages

Included/Mandatory


Typical Minimum


Typical Maximum


Building (Building and/or BPP must be covered)
Limit as Requested Limit as Requested
Business Personal Property (BPP and/or Building must be covered) $2,500 Limit as Requested
Accounts Receivable - On Premises/Off Premises $25,000/$2,500 $5,000,000
Back up of Sewer or Drains $25,000 $5,000,000
Business Income & Extra Expense (BI&EE) Actual Loss Sustained (ALS) Actual Loss Sustained (ALS)
BI-Dependent Properties* 30 days N/A
Business Income & Extra Expense (BI&EE)- Civil Authority* 3 Weeks N/A
Business Income & Extra Expense (BI&EE) - Newly Acquired Property* $250,000 N/A
Business Income & Extra Expense (BI&EE) - Time Period* 12 Months N/A
Building Ordinance or Law - A Included with Building Limit as Requested
Building Ordinance or Law - B & C Combined* $50,000 Limit is Requested
Building Ordinance or Law - Business Income & Extra Expense* Actual Loss Sustained (ALS) Actual Loss Sustained (ALS)
Claims Expense $5,000 N/A
Crime Conviction Reward $10,000 N/A
Debris Removal 25% of Loss + $10,000 N/A
Deferred Payments $5,000 N/A
Electronic Data Processing & Media (EDP) - Blanket $10,000/$2,500 $5,000,000
Employee Dishonesty $10,000 $1,000,000
Extended Business Income* 60 days (Not Covered) N/A
Exterior Building Glass Included with Building N/A
Fine Arts - Blanket $10,000/$2,500 $1,000,000
Fire Department Service Charge $10,000 N/A
Fire Extinguisher Systems Recharge $1,000 N/A
Forgery or Alteration $10,000 $5,000,000
Installation Property Blanket $2,500 $25,000
Leasehold Interest $10,000 $5,000,000
Lock Replacement Coverage $1,000 $5,000,000
Money and Securities-Inside & Outside the Premise $10,000/$2,500 $50,000/$25,000
Money Orders and Counterfeit Paper Currency $1,000 N/A
Newly Acquired or Constructed Buildings $500,000 N/A
Off-Premises Power or Water Failure - Direct $10,000 $5,000,000
Off-Premises Power or Water Failure - Time Element* Actual Loss Sustained (ALS) Actual Loss Sustained (ALS)
Outdoor Property - Antennas and Satellite Dishes $1,000 $5,000,000
Outdoor Property - Trees, Plants, Shrubs and Lawns $10,000/$1,000 N/A
Outdoor Property - Fences and Walls $2,500 $5,000,000
Outdoor Signs $5,000 $5,000,000
Patterns, Dies, and Molds $5,000 $5,000,000
Peak Season BPP Increase (Seasonal Increase) Amount 50% N/A
Personal Effects $2,500 N/A
Personal Effects - Clergy (Religious Classification Only) $5,000 N/A
Personal Property - Newly Acquired /Constructed Premises $250,000 N/A
Personal Property Off Premises $25,000 $5,000,000
Pollutant Clean Up and Removal $10,000 N/A
Preservation of Property 30 days N/A
Spoilage $5,000 $5,000,000
Tools and Equipments - Blanket $5,000/$1,000 $5,000,000
Transportation - Excl Spoilage $2,500 $5,000,000
Unauthorized Business Card Use $5,000/$1,000 N/A
Valuable Papers - On Premises/Off Premises $25,000/$2,500 $5,000,000
 
*If Business Income & Extra Expense Coverage is covered    
 
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Let the Sterner Insurance Agency - Apple Valley, MN, help you understand and protect all of the risks you run and all of the perils your business faces. We will do this with a well thought out and executed business insurance policy designed just for our Institutional Insurance policy holders.