Watch the webinar to get a detailed overview
1.
PROPERTY AGE AND BUILDING UPDATES
The age of a building is often one of the first things an underwriter reviews. Older building features and internal systems can present increased exposure to fire, water damage, and electrical failures. While the age of the structure is the first hurdle for insurability for many standard carriers, with the softening market, underwriters really want to know whether critical systems have been updated.
UPDATES UNDERWRITERS CARE ABOUT:
Property owner tip:
• Roof replacement history • Electrical system upgrades • Plumbing updates • HVAC replacements
Maintain records of major capital improvements and be prepared to share them during the quoting process, or provide them to your agent as soon as you have them so they can keep track of updates on the back end.
• Fire protection improvements (such as sprinkler systems and central-station fire alarms)
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