Prospect contacted us seeking insurance options for a 144-unit apartment community in Pueblo, Colorado because his current carrier, Farmers, increased the wind and hail deductible from 2% to 8%, which is not allowed under the property’s Fannie Mae mortgage requirements. He indicated he otherwise likes his current policy but must find a carrier willing to offer a lower wind and hail deductible that satisfies the loan terms. The prospect appears cooperative and open to providing his existing policy and underwriting information once connected with a commercial specialist.
The apartment complex was originally built in 1972 and has undergone extensive renovations both inside and out over the years. The owner reports no recent claims or roof-related issues and confirmed that grills are not allowed on the unit decks, which reduces fire exposure. The property is currently insured with Farmers and represents a larger multifamily risk with significant premium potential if a compliant deductible structure can be secured.
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