From the increased risks of now being responsible for sidewalks to the increased risks of lawsuits from coop owners, this industry is fraught with questions and perils. For over 35 years, Bellido Insurance has traversed the real estate terrain to provide not only competitive pricing, but more importantly, provided asset protection.
At Bellido Insurance, before we go out to market to look for quotes, our brokers sit with you to discuss the specific circumstances and needs of your business. While it may take a bit longer, we believe that all of our questions allow us to make sure you have all the coverage you need to protect your large investment, while still finding ways to save you money with discounts that the insurance companies are more than happy to provide when you qualify.
Here are some of the many coverages we discuss with our clients:
- Do you have a central station fire and burglar alarm? Simply provide us with the certificate from your vendor and your insurance premium is reduced.
- Having interior and exterior cameras that continuously record video and are stored for at least six months is another way to further reduce your insurance premium as insurance companies will be able to use the video in your defense if there is an insurance claim.
- Do you have an inspected sprinkler system? If so, once we have the ISO certificate for sprinklers, you can obtain a large premium reduction.
- If your building is a condo or coop, do you have Directors & Officers Liability Insurance? Otherwise, those volunteers who dedicated their time for the good of the building and serve on the Board – when suddenly faced with a lawsuit for thousands if not millions of dollars – won’t have any coverage and have placed their own personal assets at great risk.
- Do you need coverage for accidental non-compliance with “The Fair Housing Act”? Most insurance policies won’t cover that. You need either a special endorsement on your policy or a completely separate policy that covers discrimination based on a protected classification regardless of the intent. Make sure your current policy does not exclude discrimination!