Riots, Vandalism and Insurance: Knowing Where Your Value Lies Is Key to Smart Decision-Making

Our newest edition of Insights for Your Industry – “Riots, Vandalism and Insurance: Knowing Where Your Value Lies Is Key to Smart Decision-Making” – prompts readers to take a closer look at their potential exposures and insurance coverage options. The following is an excerpt from this issue:

“Today, no one needs to be reminded of how real the threats of riots and vandalism are, or of the disruption they can cause to the facilities and operations of a business or institution. … Standard property insurance covers the cost of repairing and replacing property damaged by vandalism and riots, plus the income lost when an enterprise must shut down as a result of such damage. … While this might make insuring against riots and vandalism sound like an open-and-shut case, a variety of factors can influence how your property insurance would compensate you for what’s at stake.”

This edition of Insights for Your Industry addresses components of property insurance coverage to consider when facing a vandalism loss: broken windows and glass and understanding the distinction between theft and looting. It also dives into the intricacies of what a business owner can do to cover themselves for “loss of attraction” – when violence has happened nearby but not affected the property itself, which can in turn make patrons feel threatened and cause business to decline. Also addressed are new, supplemental insurance programs that are available to urban property owners and tips on how to limit the extent of vandalism losses.

To read and download “Riots, Vandalism and Insurance: Knowing Where Your Value Lies Is Key to Smart Decision-Making,” click HERE.

Comments and suggestions are welcome – please send them to Editor@rphc.com.