Case Study: Leading Real Estate Company achieves over $80,000 in savings and better coverage with Newfront

Savings and improved coverage amid a challenging real estate market

A leading real estate company, the owner of a premier luxury condominium in Los Angeles, faced a projected 10% increase in insurance costs due to industry-wide challenges like spiking rates and weather-related losses. They engaged Newfront to find a better insurance solution. Newfront's Real Estate Practice identified inefficiencies in their existing program, including an inappropriate policy structure and a high water-damage deductible.

Newfront conducted a comprehensive analysis and implemented a strategy that included recommending wireless water detection systems and leveraging their technology platform for a thorough submission. This allowed Newfront to secure a renewal with only a 5% cost increase, far below the budgeted amount and industry trends. The solution also doubled the client's liability coverage to $50 million while achieving year-over-year savings of more than $80,000.