PROPERTY INSURANCE REVIEW CHECKLIST FOR REAL ESTATE MANAGERS

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--- POLICY OVERVIEW & COVERAGE ---
[ ] Policy Number
[ ] Insurer Name
[ ] Policy Effective Date
[ ] Policy Expiration Date
[ ] Coverage Amount (Building)
[ ] Coverage Amount (Liability)
[ ] Policy Type (e.g., Standard, Broad) (Standard, Broad)
[ ] Summary of Coverage Terms

--- PROPERTY VALUATION & RECONSTRUCTION COST ---
[ ] Current Assessed Value
[ ] Estimated Reconstruction Cost (Based on recent appraisal)
[ ] Square Footage of Building
[ ] Number of Units (if applicable)
[ ] Notes on any recent improvements or changes affecting value
[ ] Date of Last Appraisal/Valuation
[ ] Appraisal Method Used (Cost Approach, Sales Comparison Approach, Income Capitalization Approach)

--- COVERAGE ADEQUACY - PERILS INSURED ---
[ ] Fire Coverage Adequacy (Sufficient, Insufficient - Increase Needed, Review Required)
[ ] Wind/Hail Coverage Adequacy (Sufficient, Insufficient - Increase Needed, Review Required)
[ ] Liability Coverage Adequacy (Sufficient, Insufficient - Increase Needed, Review Required)
[ ] Business Interruption Coverage Limit
[ ] Flood Insurance Coverage (If Applicable) (Covered, Not Required, Review Required)
[ ] Specific Peril Concerns

--- DEDUCTIBLES & EXCLUSIONS ---
[ ] Current Building Deductible Amount
[ ] Current Contents Deductible Amount
[ ] Is Deductible Amount Adequate? (Yes, No, Unsure)
[ ] Detailed Explanation of Any Deductible Concerns
[ ] Does Policy Include Flood Insurance? (Yes, No, Unsure)
[ ] List of Specific Policy Exclusions to Review

--- LOSS HISTORY & CLAIMS ---
[ ] Date of Loss
[ ] Claim Number
[ ] Description of Loss/Claim
[ ] Claim Amount Paid
[ ] Claim Status (Open, Closed, Pending, Denied)
[ ] Notes/Comments on Claim

--- COMPLIANCE & REGULATIONS ---
[ ] State Insurance Regulations Compliance? (Compliant, Non-Compliant, N/A)
[ ] Last Regulatory Compliance Review Date
[ ] Policy Number
[ ] Summary of Recent Regulatory Changes
[ ] Flood Zone Compliance? (Compliant, Non-Compliant, N/A)

--- POLICY UPDATES & RENEWALS ---
[ ] Current Policy Expiration Date
[ ] Renewal Quote Request Date
[ ] Renewal Quote Received (USD)
[ ] Renewal Option (Accept Current Quote, Negotiate New Quote, Seek Alternative Insurer)
[ ] Renewal Decision Date
[ ] Renewal Notes/Justification
[ ] New Policy Effective Date

--- DOCUMENTATION & RECORDS ---
[ ] Insurance Policy Document
[ ] Policy Start Date
[ ] Policy Expiration Date
[ ] Policy Number
[ ] Notes/Comments on Review
[ ] Reviewer Signature

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