There are thousands of insurance companies in the world, each with its own unique appetite for risk. Even considering the companies that would write commercial real estate business, the list could be in the hundreds. A carrier's risk appetite is constantly changing and can vary based on asset class, construction, age, location, size, etc.
Therefore, it's important that your insurance agent understands and can access the world of insurance companies specific to your risk. By specializing in the real estate industry, we can quickly identify which insurance companies best fit the real estate owner. We then negotiate with these markets to obtain the best price and coverage. Our success in this area stems from the volume of real estate business we place with these markets.
We also have strong relationships with the various insurance companies that write commercial real estate business. They understand we specialize in the real estate market, and that we require the best pricing and coverage available to our clients.
The Franklin Street Platform
The Franklin Street platform provides us an in-depth knowledge of the real estate industry. This benefits our clients by allowing us to understand the challenges and opportunities they face on a daily basis. We know that the cost of insurance is one of their largest expense items next to debt service, taxes and payroll.
We also understand that there are many challenges and issues facing a property owner including declining rents, tenant evictions, falling property values, and in some cases, possible foreclosure. This knowledge allows us to develop strategies and deliver options specific to a client's unique financial situation.
The Franklin Street platform also gives us the ability to offer our clients access to products and services that no other insurance agent can. This comes from our affiliation with Franklin Street Management Services, which is the sponsor of our several Master Insurance Policies. These policies provide superior coverage and pricing that is typically 15 to 20 percent less than a standalone policy. We can provide clients a quote under these Master Policies in addition to considering a standalone policy. If you would like to learn more about our Master Policies, please click here to receive more information on the pricing and coverage.