2.
ROOF CONDITION IS A MAJOR FOCUS
Roof claims continue to be a significant source of insurance losses, particularly from wind, hail, and water intrusion.
UNDERWRITERS WILL ALWAYS ASK FOR:
Property owner tip:
• Roof age • Roof material type • Dates of repairs or complete replacement
Aerial photos are often pulled by underwriters, so consider getting your roof cleaned before your next renewal. Also, obtaining a roof inspection if your roof is approaching the end of its lifespan (or if it’s just looking worse for wear). Proactively addressing issues can help prevent carriers from declining to offer coverage.
If the internal underwriting metrics show a poor roof score, property owners will need to show maintenance logs and possibly a current roof inspection report stating otherwise. Most standard carriers have tightened their requirements for aging roofs, especially in catastrophe-prone regions.
MOST STANDARD CARRIERS HAVE TIGHTENED THEIR REQUIREMENTS FOR AGING ROOFS.
3.
LOSS PREVENTION AND MAINTENANCE PRACTICES
While underwriters will want to look at an individual risk’s loss history, they will also focus on what owners are doing to prevent future losses. Strong risk management practices can help differentiate a property from similar apartment communities.
WHAT UNDERWRITERS LIKE TO SEE:
• Documented preventative maintenance programs • Regular property inspections (roof, electrical, plumbing, HVAC, and overall premises) • Installing water leak detection systems • Fire safety inspections
Property owner tip:
Properties with a proactive maintenance program are often viewed as lower-risk investments for carriers.
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