For Commercial property owners and managers
Preparing for a commercial property renewal
A disciplined timeline for values, schedules, losses, changes, documents, and decision-ready quote comparison.
Begin with changes
List acquisitions, sales, renovations, new tenants, occupancy changes, vacancies, values, lenders, management changes, contracts, claims, and completed risk improvements. Last year's application is a starting point, not proof that the risk is unchanged.
Reconcile the source documents
- Property schedule
- Named insured and entity list
- Current policies and endorsements
- Values and income worksheets
- Loss runs
- Inspection reports
- Lender and contract requirements
Separate quote from issued coverage
A quote is an offer subject to its terms and conditions. A selected quote, bind request, binder, issued policy, and later endorsement are separate events and documents. Keep the exact version used for each decision.
Compare terms, not just totals
- Carrier and policy form
- Limits and valuation
- Deductibles
- Business income
- Ordinance or law
- Protective safeguards
- Exclusions and endorsements
- Payment terms and fees
Record the final result
Once placed, preserve the selected quote, binding instruction, binder, issued policy, invoice, payment evidence, and any differences identified during policy review.