Premium Reduction Service Increases Self-Storage Property Value

One of the nation’s leading self-storage companies owned a property in Texas with 8 buildings, where the NFIP flood insurance premiums were $52,014 for the 8 NFIP policies. The client desperately sought a solution that would decrease its flood insurance costs while allowing it to maintain the same coverage in order to satisfy its lender’s flood insurance requirement.

The Solution

Our industry-leading flood team quickly determined that there were more favorable rates available for these buildings. This enabled us to re-rate the flood policies using the lower cost rate structure available through the NFIP. As a result, our Premium Reduction Service captured a large insurance refund, delivered substantial future savings, and increased the value of this property.

The Results

Our Premium Reduction Service delivered following valuable benefits:

  • Reduced annual flood premiums by $43,938 (84{b73b969d192d8eafaea0090998e86317c7e4c69160e33071b50feed6bdb2d318}).
  • Increased property value by more than $625,000 by capitalizing the annual savings at a 7{b73b969d192d8eafaea0090998e86317c7e4c69160e33071b50feed6bdb2d318} capitalization rate.
  • Procured a $43,938 insurance refund.

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We’re here to help!

Contact us today to learn how our Premium Reduction Service can reduce your flood insurance premiums and increase your  property value.

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