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SES Insurance Brokerage Services, Inc.



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Program Details -

Commercial Property Insurance


 

Many real estate investors like to diversify their portfolios to not only include residential properties, but also light commercial as well. SES Insurance Brokerage Services, Inc. has created a product that can accommodate the commercial locations at competitive prices on one master policy. The program is not looking for industrial sites, or manufacturing, but if a client of yours has a residential portfolio as well as a strip shopping center (for example) SES would be happy to quote for you. The agile nature of our product offering allows for one convenient policy under which to insure multiple property types.

Coverage Summary

Property

Property Types

  • 1-4 unit dwellings
  • Small apartments (with pre determined allowable max TIV)

Limits

  • $500,000 per location up to $15,000,000 per location
  • Coverage is ultimately for the value stated for each property

Replacement Cost Valuation

  • For single family residential properties (1-4 unit) SES is looking for a value of $75 per sqft.

Deductibles

  • Range from $1,000 to $25,000 per location, per occurrence
  • Separate deductibles for wind/hail, named storm, EQ, Flood, etc.

Basic Coverage Summary

  • Special Causes of Loss (ISO based forms widely used)
  • Earthquake – if requested
  • Flood – if requested
  • Named Storm
    • When part of primary package policy and not on a separate DIC cover, EQ, Flood, and Named Storm will have separate, higher deductibles and often capped losses
  • Builder’s Risk for homes under renovation – not new construction (additional)
  • Business Personal Property (can be included)
  • Business Income (coverage for loss of rents can be included)
  • Excluded Causes of Loss
  • Excluded causes of loss can differ from portfolio to portfolio and will be at the discretion of the underwriter

Liability

Limits can vary per policy – generally offered limits are as follows:


  • $2,000,000 general aggregate
  • $1,000,000 per occurrence
  • $100,000 any one fire
  • $5,000 med pay per person

Excess Coverage

  • Excess limits range from $1,000,000 to $25,000,000 with potential for limits up to $100,000,000
  • Coverage most often for strict excess commercial general liability

Deductibles

  • Range from $0 to $10,000 per occurrence – SES pushes for a $0.00 deductible with each policy

Basic Coverage Summary

  • ISO based Commercial General Liability coverage/forms
  • Excluded Causes of Loss
  • General pollution, war, nuclear, etc. exclusions are present and can vary per policy

Locations Served : Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Washington,D.C., Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming