What Is Institutional Insurance?
Institutional Insurance Varies Depending on Several Variables. Please See The Chart Blow For Further Details.
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Listed below are the typical non-liability coverages and package limits available.
Non-Liability Only Coverages Included/Mandatory | Minimum | 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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