Ladies and Gentlemen,
The Board of Directors negotiated a new premium with our insurance broker and renewed the building’s flood insurance on March 11, 2010.
The estimated cost of the renewal policy premium was $508,000. The same amount was budgeted for Insurance premium for the 2010 year. The Board used free competition between two big brokerage firms, negotiated the price at $403,000 in year premium.
Drastic yearly savings are $105,000.
To view/download the renewal Certificate of Liability, please click HERE. This certificate must be provided to your Mortgage holder before April 11, 2010.
If you have any questions regarding this matter, feel free to contact our management office at: 305-466-7767 Ext. 801
President of the Board of Directors