Elite Condominium Insurance
The Elite Condominium Insurance Program
The definition of “Elite” is a select group that is superior in terms of ability or qualities to the rest of a group or society. This word perfectly defines what sets our Elite Condominium Insurance Program apart from all of our competitors. Our program contains the best carriers with superior coverages, premiums and customer service. Our agents have extensive knowledge in regards to how community associations function and use this knowledge to create flawless insurance programs that are tailored to each community’s needs. No one association is the same and we understand this better than anyone else in the marketplace.
Our Condo Insurance Program Differences
- We build our programs from the ground up. Unlike our competition, we do not just copy what they have currently and base our proposal on premiums only. This way, we are assured that we are not missing buildings, coverages or other existing exposures that the current agent may have missed.
- We start our process by examining your declarations, bylaws and articles of incorporation to determine what needs to be covered. If needed, we consult with our legal experts in the condominium field that we have strategically partnered with to sort through any conflicting or indecipherable language.
- We do an onsite walk through of the association to create what we call our building census. The census enables us to make sure we are not missing any buildings or structures that need to be insured by the master insurance program. This walk through also gives us an indication of the overall conditions of the buildings so that there are no surprises when our carriers do their own inspections.
- Using this census, in conjunction with square footage information from the assessor’s database, we determine the reconstruction value for each building to ensure the association has adequate limits and is not in danger of coinsurance penalties in a future loss.
- Once all of this is completed, we market the account to our extensive group of carriers. We ensure that each association has the proper limits of liability, blanket building limits, ordinance and law, mold and mildew and important endorsements such as agreed value, employee dishonesty or water backup of sewers and drains.
- The board is then given a document that contains all of the above as well as an analysis of what they have now for coverage as compared to what we suggest. Premiums from each carrier are listed along with a side-by-side comparison of coverages so that the board can make an informed decision on a carrier that is not necessarily always premium driven.
- We have extensive knowledge in the field of Directors & Officers Liability as well and make sure that the board understands that not all D&O policies are made equal. Making sure that our boards understand the difference between embedded and separate D&O coverage and why one is more expensive then the other is an extremely important aspect of what we bring to the table.
- We represent many association niche markets that most agents don’t even know exist. Association coverage for data theft, workers compensation, environmental impairment or high limit low premium following form umbrella carriers