FAQ
What is the Commerce Investment Real Estate Owners Association?
It is a non-profit group of property owners with hundreds of buildings, joined together to leverage their cumulative size for better benefits. One of these benefits is the insurance program. Each property location is charged an annual membership fee of $25 (included as part of the insurance billing).
What is the process and how soon can I get coverage?
Please contact us to provide us with information about your property so that we may obtain carrier approval. Once you receive your quote and are interested in moving forward, we will contact you to gather some necessary additional info (such as how title is held on the property and whether or not there is a loan) and answer any questions you may have. This entire process usually takes three business days or less.
Does the property program use good carriers?
We exclusively use carriers rated “A” range by A.M. Best, and they are typically of the highest financial size categories. The current carriers in our property program are rated A+ XV and rated A XV.
Why are the rates so competitive?
Bulk purchasing power makes carriers compete to offer the lowest possible rates, with additional reductions for the large amount of square footage and low administrative costs.
Saving money is great, but the coverages are important to me. What about that?
With our purchasing power we’re able to get very robust coverage, a huge liability limit, and a building replacement limit in the hundreds of millions even for our smallest building.
