Mitigation Inspection Report

A real case:

I want to share a couple of experiences that I have had that have saved my clients thousands of dollars in windstorm insurance. One of the services that I provide is financial management of condominium and homeowner associations. When the windstorm insurance came up for renewal this year, I asked a friend of mine that works in insurance, Mayda Martinez, an insurance agent, maydam@prodigy.net, to check the policy for me. Every year this policy had been getting more and more expensive. My condominium clients are small, self-managed associations, and they cannot afford these annual increases in insurance. When she looked at the policy, she asked me a few questions, and then told me that there were NO DISCOUNTS on the policy. She thought it was strange. She told me to call the insurance agency and ask if they had requested a MITIGATION INSPECTION REPORT. Mayda told me that:

In order for companies, or even individual homeowners, to get discounts, a very inexpensive mitigation inspection report must be done by a licensed company and sent to the insurance company.

So, I did what she told me. No mitigation inspection report had ever done. So, I asked and they referred me to a very honest and reasonable company. They did the report. It was sent to the insurance company. To my surprise, there was a 40% reduction in premium! So, when another of my client’s windstorm policy was coming up for renewal, a mitigation inspection report was requested and sent to the insurance company. And, again, to my surprise, there was a 40% reduction in premium. The moral of my story is, check your windstorm insurance policies. Make sure that you get your discounts. You can save a lot of money!