Renewal checking for commercial property
Commercial property renewals are where deductibles creep, causes-of-loss forms narrow, and hard-market sublimits appear without a phone call. The insured sees a similar premium and assumes similar coverage; the difference lives in the CP form schedule and the statement of values.
BindCheck compares the prior property policy to the renewal and surfaces every change that matters — form editions, limits and sublimits, coinsurance, deductibles including wind/hail and named-storm percentages, and the causes-of-loss form itself.
What we flag on a property renewal
Property is a numbers-and-forms line, and both drift at renewal. We track the facts of each form and each dec-page figure:
- Causes-of-loss form — CP 10 30 (special), CP 10 20 (broad), CP 10 10 (basic); a downgrade from special to broad is a major, easy-to-miss coverage cut.
- Building and business-personal-property limits vs. prior, plus any change in coinsurance percentage or agreed value.
- Deductibles — including separate wind/hail and named-storm percentage deductibles that carriers add in catastrophe-exposed territories.
- Endorsed sublimits — flood, earthquake, ordinance or law, equipment breakdown, business income waiting periods.
- Manuscript or carrier-specific endorsements, flagged for human review.
Valuation and business income, watched
Replacement cost vs. actual cash value, business income limits and the extended-period-of-indemnity option, ordinance-or-law coverage A/B/C — the renewal-time changes that turn into underinsurance at claim time. Prior-vs-renewal, in the checklist.
Documented for your file and your E&O
Every BindCheck comparison saves as a dated, page-cited record of what you checked and flagged — the coverage-review artifact an agents' E&O procedures audit looks for. The software doesn't grant a premium credit; it produces the consistent documentation the audit behind such a credit expects (confirm eligibility with your own carrier).
Frequently asked questions
Does it read the statement of values?
It extracts the dec-page and scheduled limits and compares them prior vs. renewal. A detailed SOV attached as a schedule is captured as scheduled values; unusual formats are flagged for your review rather than guessed.
Will it catch a raised wind deductible?
Yes — percentage and flat deductibles, including separate wind/hail and named-storm deductibles, are compared line by line and any increase is flagged.
Diff your first renewal free — upload the prior policy and the renewal, and see what changed in about a minute. No signup wall, no demo call.