Commercial Dwelling Policy
“COMMERCIAL DWELLING” Program.
This is a program for risks of dwellings converted into commercial spaces that are currently operating in a structure originally built and used as a residence.
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Coverages
The basic requirements to qualify under this program are as follows:
- Risks of dwellings converted to businesses other than manufacturing that are not an apartment or dwelling rented to others.
- The structure should be fully built in concrete.
- 1-4 story structures.
Businesses that mainly benefit from these rates are:
- Offices.
- Restaurants.
- Gift Shops.
- Boutiques.
For more information, contact your authorized representative, producer or call through MAPFRE Contact Center at 787-250-5214 or 1-888-835-3634 (island).
For more information, please see our brochure.
Benefits and Advantages
The MAPFRE Commercial Dwelling insurance includes, thanks to its coverages, a wide range of benefits and advantages.
The policy provides specific protection for businesses established in a structure, which originally was built and designed to housing.
Examples of these businesses are:
- Medical Offices.
- Retail Stores.
- Restaurants.
- Pharmacies.
- Beauty salons.
Moreover, the Commercial Dwelling policy offers you the possibility to obtain the following covers:
Structure
Coverage of the content located inside the structure as set out in the general conditions.
Civil liability
Civil liability and freight transport coverages.
Hired vehicles
Civil Liability of hired vehicles.
Protection
Electronic data processing equipment protection.
Loss
Sustained loss of income caused by the interruption of business operations, loss caused by money theft, water damage, flood or loss of perishable products.
General Conditions
The General Conditions of any insurance are aimed at detailing the terms of coverages and their content.
The Commercial Dwelling policy offers coverage to businesses located in covered structures between one and four floors which were assigned for housing.
MAPFRE offers the coverage of the contents of the structure, transportation of goods, protection of computers and software, as well as water damage or theft, among others, according to the agreement set with the insured.
Requiriments and Restrictions
This policy has certain requirements and restrictions that shall be evaluated by the customer before signing the contract, in order to decide which insurance policy suits better the business and the policyholder needs.
Users who want to access to the Commercial Dwelling coverages must meet a series of requirements and restrictions established by MAPFRE, including the following:
- The business must be placed in dwellings converted into businesses, excluding manufacturing.
- The structure insured by MAPFRE must have from one to four floors.
- The construction of the structure included in the insurance must be complete.
- The Commercial Dwelling policy does not cover those properties that are apartments or those rented to other users.
Recommendations for use
MAPFRE offers a series of recommendations for use to the policyholders, in order to have an easy and correct access to all the benefits and advantages related to the policy form.
- MAPFRE recommends the customers to read entirely and with care the clauses and the special provisions of the policies of their interest.
To receive benefits from your policy:
- The Commercial Dwelling policy only takes effect when you pay the premium established by us.
- The policy is only aimed at businesses occupying a structure whose original building and occupation was intended for housing.
- In case of a mishap, you must notify it to us without delay and send us all the available information. In case of a loss you must cooperate with us fully.
- MAPFRE has no duty to deal with damages not included in the general and special conditions of the policy.
- The Commercial Dwelling policy covers a wide range of businesses, excluding manufacturing.
- Agents from the 24/7Information Center, specialized in the Commercial Dwelling policy, can solve any request from the policyholders.
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