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Residential Apartment Building with Fuses - CA
Posted: Fri May 04, 2012 12:08 pm
by InsureTime
Does anyone have a market for a residential building with fuses. Please advise. Thanks!
Email:
jason@calcocommercialinsurance.com or call 818 906-7900 x 119
Re: Residential Apartment Building with Fuses - CA
Posted: Mon May 07, 2012 11:05 am
by d's insurance store
You know, by the time you get done finding that one or two surplus lines carriers that will maybe take the building with fuses and paying the much higher rate for that circumstance, the owner of the building will be far ahead financially and from a safety standpoint to just bite the bullet and pay an electrician to convert to breakers. If they can't or won't maybe you need to evaluate just how badly you need this account.
Re: Residential Apartment Building with Fuses - CA
Posted: Tue May 08, 2012 11:25 am
by mccluney
If you find a market, I would be shocked if the market would supply other than Basic form property coverages. Liability for the apatment owner could also be a factor. If the apartment owner will not upgrade, if I were the agent, I would "run away": would not like to be exposed to a potential E&O law suit.
Re: Residential Apartment Building with Fuses - CA
Posted: Wed Jul 04, 2012 9:54 am
by Adame526
Jason,
The only markets that will write property with fuses will charge upwards of $2.00+ rate. There are other UW factors involved as well. Maintenance, losses etc. If the client is willing to pay the premium it can be done. If it's a sub-par property no one will write it. The client will have to upgrade the electrical and clean the property up.
Toni Adame
Sr. Broker
MarketScout Wholesale LLC
tcavage@marketscout.com
P: 8057652802
www.marketscout.com/msw