Budget Projections
We know how important budget projections can be for Condominium Associations. Our agents routinely sit with property managers and board members to review anticipated insurance costs well in advance of the policy expiration date.
Generally our insurance premium projections are very accurate within a three month window of the renewal date. Once we go beyond that time frame there could be changes in the market that will affect premium estimates. Beyond three months, we can give you a best and worst case scenario. We calculate your association's property premiums using current Citizens Insurance rates. This calculation of premium will be your worst case projection. Next we determine which carriers would be available to you based on your association's characteristics. We can then estimate what the best case scenario will be using those carriers.
This is an educated guess based on market conditions at that particular time. Other factors like the economy, recent hurricanes, reinsurance costs, global catastrophes and even next season's hurricane predictions can also affect your renewal premiums.
Because we insure all types and sizes of condominiums throughout
Florida and use all available carriers, we may have better insight than
your local agent when projecting insurance costs.
|
