MBCK – Warehouse Comparison

Coverage Comparison

680-690 W 20th Street Hialeah FL - $540,400
Business Income - $70,000
2310-2314 NW 150th Street Opa Locka FL - $941,600
Business Income - $69,600
Deductible - $5,000
Wind Deductible - 3%
Co-Insurance 90%

Liability Per Occurrence - $1,000,000
Liability in Aggregate - $2,000,000
Products Completed Operation - EXCLUDED
Personal & Advertising Injury - $1,000,000
Damage to Premises Rented To You - $100,000

$31,306.60

vs.

Coverage Comparison

680-690 W 20th Street Hialeah FL - $1,500,000
Business Income - $100,000
2310-2314 NW 150th Street Opa Locka FL - $3,000,000
Business Income - $150,000
Deductible - $5,000
Wind Deductible - 5%
Co-Insurance 80%

Liability Per Occurrence - $1,000,000
Liability in Aggregate - $2,000,000
Products Completed Operation - INCLUDED
Personal & Advertising Injury - $1,000,000
Damage to Premises Rented To You - $100,000
Medical Payments - $5,000

$56,382.70

★★★★★

TOTAL ANNUAL SAVINGS:

Current Coverage is with a fine Carrier, but setup foolishly to present a “lower” premium; which eliminates most property coverage at the time of a loss. The policy has a Co-Insurance Penalty requiring you to maintain coverage on the building up to 90% of the replacement Cost at the time of a loss. So if there is a $200,000 loss in Hialeah & the Replacement Cost is $1,500,000; below is the calculation for your penalty…

What you had ($540,400)/What you were required to have (90% * $1,500,000 = $1,350,000) * Your Loss ($200,000) = Your Payout $80,059 – Deductibles

In my opinion, it would be better not to have Wind Coverage & insure it to Value so at least there is A scenario where you can be indemnified.

79667701_Quote #6104318-1 79667812_Amwins Cover Letter