972-3-6951414

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Insurance solutions for the construction and property industry

Do you need Contractors All Risks insurance?
Call us on 972-3-6951414
contact us by e-mail:
itzick@simon-ins.co.il
or complete the form and we will contact you as soon as possible.

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We are proud to have been working for 25 years in the construction insurance industry during which time we have accumulated extensive knowledge in the sector and arranged numerous insurance policies for investment property, construction companies, contractors and National Outline Plan 38 project specialists. Having dealt with a vast range of insurance claims, there is probably no loss scenario that we have not encountered.
That is precisely the advantage of the experience and knowledge we have accumulated concerning hazards, risks, accidents, mishaps, factors and variables and the ways to prevent or mitigate them. We have also developed a keen eye for risk analysis, enabling us to meticulously formulate and plan your insurance portfolio thereby obtaining the broadest scope of insurance cover at the lowest premium for you.

 

✔  Maximum insurance cover. The “unforeseen” is the main issue that we address. Any one of numerous factors can cause mishaps and accidents which you have no control over. Furthermore, no one property is identical to the next, not in location, size, environment (industrial zone, residential area) and various other impacting factors. This merely emphasises the importance of the extensive experience that has led us to the conclusion that it is essential to tailor the insurance cover to each individual situation and formulate a professional insurance portfolio with suitable extensions to provide you with complete peace of mind. Furthermore, we quite often make a point of visiting the site to make an impression of the property and conduct a risk assessment and thereby ensure you have the optimal insurance cover.
✔  Minimum cost – Let’s make things simple. We are wholesale purchasers of insurance and we have the buying power to obtain highly competitive premiums from the insurance companies we work with, coupled with favourable policy conditions, all of which benefit our clients.
✔  Which are with you all the way – The reduced costs, the attractive policy conditions and the broad insurance cover go hand in hand with constant availability and hands-on assistance. We are here to answer any query and provide you with professional guidance to ensure your interests are protected and adapted to your dynamic needs. Furthermore, in the event of a claim, we work in conjunction with a team of specialists including loss assessors, surveyors and engineers, all in order to ensure you maximise your rights under the insurance policy and enable you to recover as soon as possible.
 
ידיים עם אייקון אובדן רווחים
 
 

Itzik Simon Insurance Agency – The leading construction insurance agency in Israel

LOSS OF PROFITS INSURANCE. INSURANCE THAT PROTECTS YOUR CASH FLOW.

שריפה במבנה קיים

Protecting your cash flow and your balance sheet is the aim of Loss of Profits Insurance (also referred to as Consequential Loss Insurance) in the event of insured damage to physical property. Here is an example to explain the importance of such a policy.

You own some investment property (an office building for example) in which a fire breaks out and as a result part or all of the offices cannot be used until they are repaired. The tenants have no choice but to move their business to another property (alternative accommodation) and they will stop paying you rent. A Loss of Profits Insurance policy ensures that you continue to receive the rental income, net of any variable expenses you save, until the damage is repaired.

The policy, in the format of a Loss of Rent Insurance Policy, can also protect you against a more catastrophic situation in which you have obligations on the property – a bank loan or mortgage, where the monthly repayments continue to be debited from your bank account even if it produces no income following a fire, a situation that could cause you significant losses to the point of collapse, unless you have adequate insurance. Therefore, the only question that remains is who to arrange the cover with; the aim being to obtain the widest cover at the lowest cost.
 

If you have a portfolio of investment property, the chances are you that hold a number of insurance policies with different insurance companies via several insurance agents. This situation is a recipe for high insurance costs, double insurance or even inadequate insurance and considerable hassle. The policies probably renew at various dates throughout the year and you do not benefit from the advantages of bringing all of your insurance covers under a single roof, with a single annual renewal date and thereby benefit from the buying power and the associated cost and coverage benefits. And there are various other benefits…
 
 
 
 

Property damage insurance, or by its professional name “Extended Fire Insurance” is the usually central policy forming part of a commercial insurance portfolio comprised of Third Party Liability Insurance, Employers Liability Insurance, Loss of Profits Insurance and other covers such as Money Insurance, Fidelity Insurance, Machinery Breakdown Insurance, Electronic Equipment Insurance etc. The word “extended” is very significant and it implies that there is the possibility of obtaining various, sometimes unique covers, providing you with a broad package of insurance protection at the lowest price. Some of the tools we utilise as part of the process of formulating the optimal cover for you are a preliminary risk assessment and meticulous planning of each policy, by virtue of decades of experience and our reputation with the insurance companies.
 

A crooked staircase, a maintenance defect, a fire that spreads to neighbouring premises or a water pipe that bursts whilst the premises are unoccupied and floods the lower floor are just a few of the endless number of scenarios you are exposed to as a property owner. Your financial exposure arising from these scenarios, all of which are insurable, can be mitigated and minimised. We have diverse state of the art tools including in-depth risk analysis and smart policy planning, taking a broad view of your entire portfolio of properties, and are the basis for an insurance portfolio covering damage investment property and associated liability covers.
 
 
LOSS OF PROFITS INSURANCE
 
 
 

For information or details about the type of insurance required, 
please fill out the form and we will contact you shortly

LOSS OF PROFITS INSURANCE

 
Please contact me directly
Itzick Simon
972-50-5299480