Did you know that 531120 - Lessors of Nonresidential Buildings (except Miniwarehouses) is the #1 NAICS code quoted in Semsee? We know LRO risks are tricky! Check out our additional tips and tricks:

1. Building Coverage is required by all carriers on all LRO BOP risks

2. If your LRO doesn’t need building coverage then GL should be selected instead

3. Most carriers will allow BPP (Business Personal Property) if needed

4. Office LRO tends to be favorable among most carriers

5. LRO’s are almost always highly susceptible to carrier property inspections

On LRO risks carriers will want to know the following during or after the quoting process:

1. How many tenants occupy the building /associated square footage

2. Does the building have vacancy? (if more than 25% consider going E&S)

3. Is the building considered coastal? (consider E&S)

4. Is there habitational exposure in addition to commercial? If so, know the square footage, percentage and number of units.

5. May not be a good fit for quoting in Semsee, especially Restaurant LRO that also includes habitational exposure. 

6. Does the building owner require lease agreements? Some carriers will ask for copies

7. Do those lease agreements contain an insurance clause? Same as above

8. Does the building owner require certificates of insurance from all occupants? Same as above and will ask for copies of tenant certificates before offering renewals in the following years

9. Does the building contain any sort of restaurant exposure? If so, know what contracts are in place if there is any grease, deep fat frying or open flame equipment present.

10. Carriers will look for a cleaning and maintenance contract on hoods and ducts in addition to the maintenance on the Extinguishing system UL-300

Want to know what other class codes Semsee agents are quoting successfully? Click here for our top 20 list