Commercial Property & Catastrophe
The limit is only half of it. Valuation basis, coinsurance, and the catastrophe deductible decide what you actually collect — and all three are set at placement, not at claim time.
Scope
Commercial property is where the largest, most avoidable gaps live, because the numbers are set once and then escalated by habit for years afterward.
Detail
Replacement cost, actual cash value, and functional replacement pay very differently on the same loss. Lenders usually require replacement cost; older policies frequently are not written that way, and nobody notices until a claim.
Insure to less than the required percentage and the carrier reduces every payout proportionally — including partial losses, which is what almost all losses are. An updated statement of values is the cheapest protection against it.
The period of restoration is not how long repairs take; it is how long until operations return to normal, which includes permitting, inspection, and re-tenanting. It is routinely underestimated.
Free, confidential, and no obligation — with a written summary either way.
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Tell us what you are insuring and where it stands. If there is a non-renewal notice or an escrow deadline, say so — those move to the front of the line.
Prefer to talk? Call or text (305) 990-2753 or email team@haymakersre.com
FAQ
Replacement cost pays what it costs to rebuild or replace today. Actual cash value subtracts depreciation, so an older roof pays a fraction of what a new one costs. Most lenders require replacement cost, and many older policies quietly are not written on that basis.
Catastrophe deductibles for wildfire, wind, or earthquake are frequently expressed as a percentage of the insured value rather than a flat dollar amount. On a large building that percentage can be a very substantial number, so we convert it to dollars before you bind.
You need the landlord equivalent — loss of rents. It covers rental income while the property is untenantable, and the period should reflect re-tenanting time, not just construction time.
Related lines
Premises and operations liability for owners and tenants, plus professional liability where the work carries advice as well as labor.
See coverage →Ground-up and renovation coverage sized to hard cost and schedule, with soft costs and delay in completion where the loan requires it.
See coverage →NFIP and private flood for coastal, riverine, and post-fire debris-flow exposure — a peril standard property forms exclude entirely.
See coverage →Standalone earthquake and difference-in-conditions coverage — also excluded from every standard property form.
See coverage →Capacity above the primary tower — usually the cheapest limit you will ever buy relative to what it protects.
See coverage →First- and third-party cyber for businesses that hold client data, move money, or would stop operating without their systems.
See coverage →