Commercial Coverage Insurance Agency

Where TO GO after State Farm? It’s not as bad as you think though. • As a specialist in this sector, we are placing apartments, office, mixed use, hospitality, and SRO every day. • The current state of the insurance market for the rest of us is showing signs of improvements every quarter. • New products and programs coming to market as we speak. • Good properties get good rates while the others are getting a risk adjusted rate. • If all you know is State Farm, YES, I understand your stress. BUT don’t be, there are many great alternatives. Hard markets create opportunities for other carriers. You just need to know who likes what and get them what they like. HUGE WIN for the client. Our job is finding the new/new carriers and products for our clients. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #colliersbayareamultifamily #colliersmultifamily #acrisure

FOUND IT: Zinsco/Fed Pacific/Stablok: We can do this! Phew! Dealing with outdated electrical systems and convincing carriers to accept them has been quite a challenge, and it continues to be. However, we've made significant progress! We've found a group willing to accept these systems at the time of policy placement, but there are a few key requirements: • Inspection Confirmation: We need an inspection confirming that these systems are in good working order. • Visual Documentation: High-quality pictures of the panels are a must. Presentation matters! • Replacement Plan: A solid plan to replace these systems within the policy period is essential. With our newfound approach, we can now secure reasonable rates for owners with reliable systems committed to completing the upgrade. Hard markets create opportunities for other carriers. You just need to know who likes what and get them what they like. HUGE WIN for the client. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #colliersbayareamultifamily #colliersmultifamily #acrisure

Escrow Close: No PROBLEM!! 24hrs and DONE. Lender Compliance will stop you in your tracks. We got the call late Friday, we are stuck. We need a _______ Knowing this would be a glass slipper approach, we knew were to go and had the markets working for us. Came in hot and needed an approval same day. YES, we all worked together to get this one done at a better value for the owner. They don’t all work out this way, but this one did. Hard markets create opportunities for other carriers. You just need to know who likes what and get them what they like. HUGE WIN for the client. Our job is finding the new/new carriers and products for our clients. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #colliersbayareamultifamily #colliersmultifamily #acrisure

No Brainer SAVING 85% ($49,000) Apartment Building The Right Referral and the Right Time It just looked too high! Having been brought in through our real estate partner, we reviewed what the premium should be, the owner needed to rent a unit or two to qualify and then it happened. Saving $49,000 in this market is a no brainer. Having the right carrier on the right building and in this case at the RIGHT TIME makes all the difference. Having a team of Risk Advisor and Account Mangers who know and study the market for best of breed in markets and rates make all the difference. Before: $59,000 After: $9,100 Saved: $49,900 Saved: 85% Hard markets create opportunities for other carriers. You just need to know who likes what and get them what they like. HUGE WIN for the client and our CCIA team. Our job is finding the new/new carriers and products for our clients. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #colliersbayareamultifamily #colliersmultifamily #acrisure

Good properties GET good Rates! Product Update: In the last 6 months, we have uncovered new markets and opportunities for our commercial property clients. They all have not left, and some are doubling down on good operators and locations. While some insurance companies may leave California or reduce their operations others continue to see value in serving the state's population and managing the associated risks. Reasons Insurance Companies Leave California: • Regulatory and Legal Environment • High Operating Costs • Catastrophic Risk • Market Dynamics • Profitability Concerns • Regulatory Hurdles • Strategic decisions Hard markets create opportunities for other carriers. You just need to know who likes what and get them what they like. HUGE WIN for the client and our CCIA team. Our job is finding the new/new carriers and products for our clients. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #colliersbayareamultifamily #colliersmultifamily #acrisure

Ka-POW SAVING 43% ($2,700) Apartment Building, in this hard market. If you don't ask, you never know. Having the right carrier on the right building makes all the difference. Having a team of Risk Advisors and Account Mangers who know and study the market for best of breed in markets and rates make all the difference. Before: $6,400 After: $3,600 Saved: 2,800 Saved: 43% Hard markets create opportunities for other carriers. You just need to know who likes what and get them what they like. HUGE WIN for the client and our CCIA team. Our job is finding the new/new carriers and products for our clients. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #colliersbayareamultifamily #colliersmultifamily #acrisure

BREAKING NEWS: Relief from the CA Fair Plan up to $20M in limits. We NEEDED this! Now the Department of Insurance has approved the FAIR Plan to increase commercial coverage limits to $20M per location for its Commercial Property Program and Business Owner’s Program (BOP). The effective date for the higher commercial property limits will be no later than November 1, 2023 and the effective date for the higher BOP limits will be no later than December 14, 2023. Commissioner Lara also announced that he has reached an agreement with insurance companies to increase writing in wildfire distressed areas. As part of that he will direct the FAIR Plan to increase its commercial limits again to $20 million per building, responding to consumers who need temporary coverage. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #colliersbayareamultifamily #colliersmultifamily #acrisure

What’s up with that? Federal Pacific Electric Panels: The cost of insurance, if you can get it, with aged out electrical is 3-5X of what a standard policy would cost. We can source these policies for aged out electrical but sit down first. Following are some interesting data points the insurance companies are seeing and so should you. FPE's Historical Presence: Federal Pacific Electric (FPE) was a major electrical panel and circuit breaker manufacturer from the 1950s to the 1980s. Experts estimate that FPEbreakers may be responsible for as many as 2,800 fires, 13 deaths and $40 million in property damage every year. The actual numbers are impossible to know. These figures focus only on residential fires, not commercial fires. Insurance Companies Position: Given the alarming frequency and severity of failures, it's crucial to replace Federal Pacific circuit breakers with modern, reliable alternatives. The potential risks far outweigh the cost of replacement. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #colliersbayareamultifamily #colliersmultifamily #acrisure

SAVING $100K and Paying 38% MORE Apartment building on Zinsco panels, nonrenewal from a standard market and left to pay at least 300% more in premium and then have the CapX to make improvements ASAP. Only a few carriers who will take these aged electrical panels if all other variables line up. It rarely does, but in this case, it fit in the program like a glove. 12 hr turnaround and placed coverage on the spot. Was Paying: $8,200 Now Paying: $11,400 INCREASE $3,200 SAVED $100,000 min. Had this not worked out, the alternative premiums would have been costly, the upgrades done as quick as possible for an expense they were not prepared. Hard markets create opportunities for other carriers. You just need to know who likes what and get them what they like. HUGE WIN for the client. Our job is finding the new/new carriers and products for our clients. #pacwestcre #commercialbroker #commercialinvestment #coldwellbankercommercialrealty #justsold #investmentproperties #sanfranciscorealestate #CCIM #CRE #Newmarkindustrial #JLL #compasscommercial #NAINorCal #compassrealestate #MarcusandMillichap #CCIM #SVN #acrisure