Is an ISR Policy suitable for every Commercial Propertys Insurance?
It used to be that just about every commercial property bigger than a shop-front had an ISR insurance cover. However, over the past decade more and more insurance companies have introduced policies with broader ‘defined perils’ cover pitched at lower value properties; at a lower premium reflecting a perceived lower risk. As mentioned earlier; some of these products are called ‘all risks’ policies due to their broader coverage however, that description is inaccurate because such policies still contain defined perils and exclusions which limit the cover. We recommend insuring any commercial property with a value of $2,000,000 or more with an ISR policy cover. Generally speaking however, there are occasions where due to the nature, situation and use of a lower value property we will still recommend taking out an ISR policy cover. But in general; smaller commercial properties with non-complex usages and easily identifiable risk profiles can usually be adequately covered with a defined peri
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