| Transurance Services, LLC |
Frequently Asked Questions
What does Transurance pay for?
Transurance pays for losses that occur in conjunction with traditionally
insured property losses but which are not covered by traditional property
insurance. We refer to these losses as “collateral damage." The
Transurance proceeds may be used by the insured for any purpose,
without qualification. Transurance simply pays a specified percentage
of the loss paid by a referenced traditional property policy, i.e. 10%
Transurance means that the Transurance policy will pay 10% of the
referenced loss payment.
How significant are Collateral Damages?
Our research indicates that collateral damages are always at least 15%
of insurance recoveries and are typically in the range 20% to 40%.
However, this percentage is much greater for very small and very large
claim payments amounts.
Which industries should consider Transurance?
Collateral damages occur with every type of property loss regardless of
the location of the property, the industry involved in the loss, or the peril
that causes the loss.
How is the premium determined?
Transurance premiums are typically determined by multiplying the
Transurance payment percentage by the indexed insurance policy’s
premiums. For example, if an insured buys a 20% Transurance policy,
the premiums would typically be 20% of the indexed policies premiums.
Is the Transurance payment simply the Transurance Coverage
Percentage multiplied by the indexed policy’s payment?
Yes, subject to any exclusions and other payment restrictions in the
Transurance policy.
Transurance pays for losses that occur in conjunction with traditionally
insured property losses but which are not covered by traditional property
insurance. We refer to these losses as “collateral damage." The
Transurance proceeds may be used by the insured for any purpose,
without qualification. Transurance simply pays a specified percentage
of the loss paid by a referenced traditional property policy, i.e. 10%
Transurance means that the Transurance policy will pay 10% of the
referenced loss payment.
How significant are Collateral Damages?
Our research indicates that collateral damages are always at least 15%
of insurance recoveries and are typically in the range 20% to 40%.
However, this percentage is much greater for very small and very large
claim payments amounts.
Which industries should consider Transurance?
Collateral damages occur with every type of property loss regardless of
the location of the property, the industry involved in the loss, or the peril
that causes the loss.
How is the premium determined?
Transurance premiums are typically determined by multiplying the
Transurance payment percentage by the indexed insurance policy’s
premiums. For example, if an insured buys a 20% Transurance policy,
the premiums would typically be 20% of the indexed policies premiums.
Is the Transurance payment simply the Transurance Coverage
Percentage multiplied by the indexed policy’s payment?
Yes, subject to any exclusions and other payment restrictions in the
Transurance policy.
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