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Comprehensive Condo Association Insurance Solutions by Pillar Insurance Group LLC

Secure Your Business Condo Association in Maryland with Our Tailored Insurance Plans
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Pillar Insurance Agency/ condo association insurance

Condo Association Insurance Provided By Our Agency

Depending on the specifics of your business condo association in Maryland, more than the coverage provided by your insurance policy might be required. Condo association insurance typically addresses the general common areas of the building, offering both property and liability coverage.

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Business property
Commercial General Liability
Business Auto
Workers’ Compensation
Property of others

Business property insurance coverage

Risk Factors

It protects you if a fire, vandalism, smoke, theft, or other event damages your property.

Solution

It covers lost inventory, office equipment, computers, and more. Most business property policies also include business income coverage. This pays for rent, employee salaries, and other expenses if your shop must close temporarily due to an unforeseen disruption.

Commercial general liability coverage

Risk Factors

It protects most basic liability issues that a garage or auto repair shop could face.

Solution

It protects you from the costs of lawsuits related to accidents, property damage, and various other mishaps. In addition, you will likely want to consider garage liability insurance, which provides several forms of liability insurance more specifically designed for the needs of garage and auto body shop owners.

Business auto insurance coverage

Risk Factors

Auto repair shops need to cover any vehicles that their business owns.

Solution

This covers all your business auto like Towing vans, vans, etc. In addition, you need non-owned auto insurance if you have employees who drive their vehicles for business purposes.

Workers’ compensation insurance coverage

Risk Factors

Accidents happen, even in the safest workplaces. Auto repair shops are dangerous places, particularly for the employees who do the work.

Solution

Workers’ compensation insurance protects your employees and your business from the costs associated with work-related injuries and illnesses. It provides coverage for medical care and income protection for an injured worker while he or she is unable to work. Workers’ compensation insurance also helps protect employers from lawsuits by injured employees.

Property of others coverage

Risk Factors

An employee gets into a fender-bender while test-driving a customer vehicle he just serviced and damages their vehicle.

Solution

This coverage protects the business from associated liability. Depending on how the insurance policy is written, damage to your client’s vehicle is usually provided under the garage keepers portion of the policy.

Understanding Condo Insurance

A condo association's insurance policy generally covers the building's structure and common areas. However, the association's rules might not extend to the interior of your unit, and coverage can vary based on state regulations. Therefore, it's vital to understand the distinctions between a condo association's policy and an owner's insurance policy to ensure comprehensive protection.

The Importance of Condo Insurance

Even if your condominium association in Maryland has its own coverage, condo insurance remains essential. The association's insurance might include the building, shared property, and liability insurance association. Still, it often won't cover personal losses such as break-ins, water damage to your living room, or injuries within your unit. This is where personalized condominium insurance for condo or co-op owners becomes crucial.

Condominium policies are designed to safeguard your personal belongings and the interior of your unit. Additionally, they offer liability protection for bodily injury or property damage to others.

Coverage Details of a Condo Insurance Policy

Here are a few customizable features available in the Business Condo Association Policy provided by Pillar Insurance Group LLC in Maryland:

Building Coverage: This covers the building and any attached structures, including fixtures, flooring, cabinets, and any common buildings your Business Condo Association may have.

Backup of Sewer and Drain: Covers unintentional direct physical loss to company personal property at your location brought on by a covered backup.

Comprehensive General Liability: Protects against legal liability for personal injury, property damage, bodily injury, and advertising injury to others.

Directors and Officers Liability: Safeguards your association board members against claims of wrongful acts while performing their duties.

Ordinance and Law: Covers the additional expenses incurred for rebuilding or repairing damaged buildings due to local laws or regulations being enforced.

Loss of Income and Extra Expense: Covers up to 12 months of lost income if business operations are suspended due to an accidental direct physical loss covered by the policy, including necessary extra expenses incurred during restoration.

Replacement Cost Claim Settlement: In accordance with your policy's terms and conditions, claim payments are determined by the cost of replacing your damaged property.

Ensure your business condo association in Maryland is comprehensively protected with a tailored insurance policy from Pillar Insurance Group LLC. Contact us today to learn more about how we can customize a policy to meet your needs.

Already have Auto Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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Pillar Insurance
We extend coverage to individuals and businesses in Ashton, MD and surrounding areas.
17830 New Hampshire Ave, Suite 203, Ashton, MD, 20861
240-722-6854
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