Environmental Insurance

hurricane damage

The United States of America disaster statistics show that 26,889,582 people have been affected by natural disasters from 1980-2010.  Environmental insurance has existed since 1977 and has since grown its annual premium volume to over one billion dollars.

Environmental insurance coverage simply provides a peace of mind during unexpected, and often extremely expensive, environmental issues. Possessing environmental insurance offers contractors, property owners, and financial institutions the opportunity to transfer their risk to the insurance company. This includes potential cleanup costs or liabilities relating to the environment at someone’s property.

Environmental coverage can protect a person’s property from the following:

…just to name a few

Often times policy holders will pay a premium for damages and insurance agencies do not live up to their side of the bargain. The attorneys of Arguello, Hope & Associates are experienced and well-known for the ability to establish existing terms and conditions of insurance policies, securing litigation defense, and launching environmental investigations and cleanup funds for policyholders from their insurance companies.

To learn more, complete the “Free Case Evaluation” on this page today – It’s 100% FREE.

Types of Environmental Insurance

Environmental insurance can be broken down into two common types. These can also be referred to as risk management tools for policy owners; they allow policy owners to transfer their property damage risk to their insurance company for potential cleanup costs or liability related to environmental conditions on a person’s property.

The two common types of environmental insurance are as follows:

Cost Cap (CC) –

Cost cap insurance covers the cost overruns when a planned environmental remediation cost is more than expected.

Pollution Legal Liability (PLL) –

Pollution legal liability focuses on the risks and costs related to potential contamination on and off a person’s property along with unanticipated contamination discovered while cleaning or redeveloping. It is commonly used for the following:

  • Third-Party Coverage for Bodily Injury and Property Damage Claims – This covers damages sustained to other parties, other than the insured, and covers property damage and injuries associated with pollution conditions.
  • Cleanup Costs – This covers the cost a policy holder might run into for new or pre-existing pollution conditions and to address the contamination.
  • Legal Defense Expense – This covers legal costs associated with defending or settling a liability dispute for pollution for either claims made by the government or private third parties.

Many individuals are under the misconception that environmental insurance is very expensive, however most policies are flexible and coverage can be customized to fit the needs of each person.  There are several options available to fit each budget in order to mitigate or eliminate certain risks associated with ones location of property.

There are also several coverage enhancements that can be purchased which depend on industry specific exposures. If your insurance company is refusing to help you repair damages that were included in your policy, Arguello Hope & Associates can help you receive the compensation you deserve.

For more information, fill out the “Free Case Evaluation” on this page now – It’s FREE.

Contact Our Experienced Insurance Claim Attorneys Today

If you have been a victim of environmental damages, the experienced insurance claim attorneys at Arguello, Hope & Associates, can help.  We are dedicated to getting things done for clients efficiently and, sometimes, in non-traditional ways.  We live by the philosophy that anything worth doing is worth doing right.

For a free, no-obligation, and confidential consultation, please contact us at 1-800-25-STORM (78676) – our staff is standing by to take your information and connect you with one of our experienced attorneys.

Start immediately by filling out the “Free Case Evaluation” form on this page – It’s 100% FREE.