Affordable housing rentals have endured higher insurance rates because of the false perception that they are more likely to suffer losses than standard rentals. This is the finding of extensive research by ABD Insurance & Financial Services in Seattle. Well-managed properties, primarily members of the Affordable Housing Management Association, enjoy low loss ratios which qualify them for deep discounts under a select insurance plan.
Limited budgets are putting a strain on Affordable Housing facilities and insurance is one of the most costly line items faced by management companies. ABD is the regional agent for this program in the Pacific Northwest, and is now offering the plan nationwide.
“We’ve been able to routinely offer premium savings of up to 78 percent in many cases.” stated Richard P. Lane, president ABD Northwest. “We begin submitting accounts immediately, based on a minimum of 45 days lead time for the underwriter with a complete submission. And we will assist the client in preparation.”
The insurance providers for this program are rated A XV (by A.M. Best), with strong financials, various deductible options and coverage tailored to the affordable housing market – both non-profit and for-profit providers. The program is acceptable to HUD and other sources of funding for Affordable Housing providers.
For more information, contact: J. Megan Davidson at (206) 892-9255; megand@abdi.com.
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