| Big “I” agent Bob Sobel’s client recently acquired a Pennsylvania apartment complex that was previously part of an extremely large property managers program. Split off from a larger property group, the property no longer qualified for superior pricing—the premium was going up, and the new owners knew it.
At first, it didn't look pretty: Sobel’s best quote was nearly double the initial offer. Then, he read an article in IA magazine about the Habitational - Apartment Program from MiddleOak® on Big "I" Markets. Although Sobel had never used Big “I” Markets before, he decided to give it a shot.
Sobel reports that underwriter responsiveness was "very good, very fast, easily handled, questions were minimal" and the "process was easy." The quote arrived with less than a 50% increase and better coverage—pleasing the client and resulting in a sale.
To qualify for the apartment program, insureds must own a minimum of 11 residential rental units with no maximum for number of units or requirement for building and property size.
The Habitational - Apartment Program and Habitational - Condominium Program from MiddleOak are available through Big “I” Markets in the following states: AR, AZ, CO, DE, GA, IA, ID, IN, KY, MD, ME, MI, MO, MT, NH, NJ, NY, NV, OH, OR, PA, SC, TN, UT, VA, VT, WA and WI.
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