REAL ESTATE INSURANCE
GENERAL LIABILITY INSURANCE
What General Liability Insurance Covers
COMMERCIAL UMBRELLA INSURANCE
What Umbrella Insurance Covers
Commercial umbrella insurance, or Excess Liability coverage, extends your existing liability limits, often in $1 million increments, at an affordable cost. For real estate professionals, it helps meet higher liability requirements for larger transactions and increases coverage on general liability, errors and omissions, and auto policies, reducing financial risks associated with your business operations.
COMMERCIAL PROPERTY INSURANCE
How Commercial Property Insurance Works
Commercial property insurance safeguards your real estate office, investment properties, and the essential assets within, such as furniture, technology, and equipment. It provides coverage for damages caused by events like fires, including rebuilding structures and replacing lost or damaged items. However, it does not cover property in transit or under development. For those scenarios, consider Builder’s Risk Insurance or an Equipment Floater with Grandbay Financial Services.
WORKERS COMPENSATION
How Worker’s Compensation Protects You
Workers’ compensation insurance is essential for protecting you—the real estate professional or property manager—from potentially catastrophic lawsuits. Imagine if a maintenance worker fell from a roof while repairing a property, sustaining injuries that left them permanently disabled and unable to work. Without proper coverage, you could face a lawsuit for negligence, potentially leading to hundreds of thousands of dollars in damages. In the tragic event of a fatal accident, you could also be sued by the worker’s family for wrongful death. Even if you prevail in court, the legal costs alone could be financially devastating, making workers’ compensation a critical safeguard for your business.
DISABILITY INSURANCE
How Disability Insurance Works
As a real estate professional, your income depends on your ability to stay active and engaged in your work. While workers’ compensation covers workplace injuries, what happens if you or a team member suffers an illness or injury outside of work and can’t earn an income? Some states offer short-term disability insurance, but the benefits are often limited in duration and insufficient to cover living expenses. For instance, New York caps benefits at $170 per week, while California offers up to $1,129 per week. However, most states provide no disability coverage at all, making private disability insurance an essential safety net.
What Types of Real Estate
Do We Cover?
Residential
- HUD-financed properties
- Low-income senior housing
- Section 8 / Tax credit developments
- Condominiums
- Townhouses
- Mobile home parks
- Co-op housing
Apartment complexes
Commercial
- Strip shopping centers
- Single tenant retail locations
-Office buildings
-Restaurants
-Churches
-Grocery stores
-Auto dealerships
-Movie theaters
-Car washes
-Self-storage
-Stadiums
-Convention centers & more!
Get In Touch
PHONE: (516) 292.3780
FAX: (516) 908.7879
Address
Corporate Headquarters
1140 AVENUE OF THE AMERICAS 9TH FLOOR
NEW YORK, NY 10036
Georgia Branch
1372 PEACHTREE ST. NE,
ATLANTA, GA 30309
Email Us
INFO@GRANDBAYFINANCIAL.COM
Newsletter
Signup for our newsletter to get updated information, insight’s or news.
