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Commercial Real Estate Property

This coverage can address the spectrum of real estate property risks, including the exposures of hospitality businesses, office buildings, condominiums, apartments, marine ports, institutions of higher learning, schools, religious organizations, housing authorities, cultural institutions, museums, and public entities/municipalities.

Features and Benefits Back To Top
  • Limits up to $1.5 billion in capacity, including Limits up to $50 million in critical earthquake, flood, and wind cover is available
  • All risk policies can include boiler & machinery coverage and services
  • Difference in Conditions policies are available
  • Contingent Property coverage is available. This large-limit insurance can provide a protective "backstop" should other property carriers go insolvent. This coverage may help insureds satisfy lending requirements
  • Lease Enhancement Coverage is available. Coverage can respond to the two provisions in leases- condemnation and casualty- that allow a tenant to terminate a lease, which can create financial exposure for property owners
 
Claims Back To Top

To report a claim please contact us:
Tel: 800-931-9546
Fax: 866-947-4165
Internet: www.lexingtoninsurance.com (click on Lexington Claims)
Mail: Lexington Insurance Co.
100 Summer Street
Boston, MA 02110

To follow up on existing claims:

Tel: 877-873-9972

Zoning Restriction Protector® Back To Top

Constantly-changing zoning ordinances leave non-conforming commercial and residential properties and their lender vulnerable. If a property suffers enough damage that it must be rebuilt to comply with current code which reduces the rentable square footage or "density" of the property, the financial ramifications can be significant.

Zoning Restriction Protector Insurance from Lexington Insurance Company provides a first-of-its kind solution for this problem. Designed for commercial and residential real estate developers and lenders, Zoning Restriction Protector provides valuable dual coverage.

Features and Benefits

- Protects lenders against a loss resulting from the difference between (i) the loan balance on the date of a property damage loss from an insured peril and (ii) the total insured proceeds at the time of property damage if the same size building cannot be rebuilt due to zoning ordinances in effect on the date of the property damage.

- In conjunction with Lexington's standard building insurance policies, insures the property owner for the loss of net equity suffered in whole or part as determined by an appraisal (after considering all debt and insurance recoveries) if the same size building cannot be rebuilt due to zoning ordinances in effect the date of the property damage.

Upgrade to Green® Back To Top

Upgrade to Green coverage is available as an endorsement to Lexington commercial property policies and is applicable to portfolio or single building policies. Real estate, financial services, and hospitality firms, educational institutions, and public entities in a particular will find Upgrade to Green valuable coverage as they seek to green their property portfolios.

Features and Benefits

- Within the policy per occurrence limit of liability, and subject to a maximum sub-limit of liability of $5,000,000 the coverage increases by 25% the limit applicable to a building listed in the schedule of values if the insured elects to upgrade the property

- Coverage is applicable to Leadership in Energy and Environmental Design (LEED®) certified and non-LEED certified buildings

- Enhanced coverage for recycling debris after loss and during reconstruction

- Coverage to hire a LEED accredited architect or engineer to help with the design and reconstruction

- Coverage for LEED re certification expenses