All Forum Posts by: Kevin Koone

Eric, I hope that wasn't too simple of an answer.  I'm an independent agent here in AR and I write a lot of rental property, with ~6 preferred markets and if the properties have some issues, age, claim history etc. I can go out to my "surplus" carriers and get coverage.  Some "captive" agents like Farmers, Nationwide, maybe others also have some market access other than their namesake, but unless things are different there State Farm has State Farm only so when they're done, they're done.  I think you'll be pleasantly surprised by what you find.  Let me know if you need help, I'm not licensed in MD, but I know we have an office there.

Eric,

Find an independent agent in your area.  They'll have multiple carriers they can quote for you.

Not normally, although technically it might be the same ownership companies don't like to combine the personal, LLC, partnerships etc.

Quote from @JD Martin:

Find another insurer. They may be getting out of your market, or the commercial rental market, or duplexes, or just don't like your track record. You're not going to convince an insurance carrier to change their mind; that's going to be a waste of time. If they aren't renewing, it is a business decision and I can't imagine what you might say to have them reconsider. 

JD"S right.  Unfortunately I spend a lot of my time right now finding different carriers for clients just because their current company is purposely shrinking their business.  Find a good agent that you like and let them handle it for you! 

Greg, a lot will depend on the age of the building etc.  Do you have a good independent agent you work with currently in the area?

Quote from @Mike Dawson:

Quote from @Kevin Koone:

Mike,

It's real hard right now.  Hotel/Motel, Condo, Apartments all have had substantial rates because a lot of companies have either stopped writing the business or non-renewed it and the companies that will still write it have to take premium because of the risk they're taking on.

I know that doesn't help you at all but my advice would be if you have an independent agent who you trust and like and believe they're doing the best they can for you stick with them and let them work all the markets for you.

 Thanks for the advice.  I've been reaching out to different places, as I don't have an agent atm.  Got a much better quote today, so it's looking up atm!

 That's Great Mike!!!  I've struggled with quotes on this type of business lately and I have access to almost every market out there!!!  Glad its working out.

Mike,

It's real hard right now.  Hotel/Motel, Condo, Apartments all have had substantial rates because a lot of companies have either stopped writing the business or non-renewed it and the companies that will still write it have to take premium because of the risk they're taking on.

I know that doesn't help you at all but my advice would be if you have an independent agent who you trust and like and believe they're doing the best they can for you stick with them and let them work all the markets for you.

Neera,

Can I ask who you're insured with now?  Also it really depends on the type of "commercial property" you have.

Bill, you would think, but it's not the case at all.

Jesse,

That's correct.  They want to spread their risk as much as possible.  Of course companies will usually have multiple homes in a subdivision etc., but I have had them shut down new business in a certain area if they've reached their "threshold" in that zip code or geographical area.

We have a "retirement" community close to me where one carrier ended up with a majority of the risk there and they were real nervous about it for a long while.  It's evened out now but it does happen.