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MULTIFAMILY PROPERTY INSURANCE
Provide 3 years of loss history Agents are mediators. They must provide you with reasons you should switch carriers, but they also must be able to convince underwriters why they should consider insuring your property. Due to the extreme increase of property claims in the industry, more and more carriers require written proof from your current insurance carrier that you have not filed any claims. While this information isn’t required up front, you’ll likely be asked for it at some point. To be blunt: If you’re unwilling to share this information, you’re not likely to be prioritized by the underwriter – and getting discounts will be even less likely.
Expect to answer some questions Your current agent
Conclusion: You have to be willing to give, in order to get! Trust that the agent knows what they are doing. Any information you provide to the insurance agent is strictly confidential and will not be shared with anyone other than the necessary underwriters. These underwriters are also bound to confidentiality rules. Of course, it is okay to not know something, but if you’re truly wanting the best insurance premiums available, agents will expect you to know some basic information about your own property. The questions that are asked of you are for your own good and knowing (or finding out) the answers will end up saving you money!
already knows everything about your property, but
a new agent won't. Expect to answer
questions such as: When does your policy come up for renewal? If applicable, what year did you last update the roofing, wiring, plumbing, and HVAC? What carrier are you currently with?
I F YOU TRULY WANT
THE BEST PREMI UMS
GET READY TO ANSWER QUESTI ONS .
Lauren Lieb Senior Commercial Risk Advisor
InsuranceHub (678) 812-2516 LLieb@insurancehub.com
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