The John L. Saisi Insurance Agency, Inc. is an Elite Commercial Agent for the Farmers Insurance group of companies specializing in Condominium and Townhome Associations.
Farmers Insurance is dedicated to meeting the needs of the association’s board members and propert managers. Farmers offers the most comprehensive policy in the marketplace and is in full compliance with the Illinois Condominium Property Act:
- Guaranteed Replacement Cost is included based on Marshall & Swift/Boeckh (MS/B), one of the most accurate commercial valuation systems in the industry, and used by Farmers Insurance to determine replacement cost.
- Unit Owners Coverage is included. Farmers Insurance Group of Companies is the only insurance carrier to offer this coverage as part of the condominium association insurance package. Unit owners endorsement provides coverage for fixtures, improvements, alterations, and appliances. Should there be a catastrophe that leaves one or more unit owners uninsured or underinsured. Farmers will provide coverage to these unit owners and, at the same time, provide the association’s board of directors and property management a smooth process in settling the claim without threat of suit from the unit owners.
- Directors & Officers Coverage includes failure to procure, discrimination, duty to defend, non-monetary damages, errors and omissions, and broad names insured.
- Mechanical Breakdown Coverage pays for direct damages to insured’s machinery and equipment and loss of business income resulting from mechanical breakdown, electrical current or arcing or explosion of steam boilers. Coverage includes air conditioning cooling tower and system, transformers, PBX phone system, computers, business equipment, fire alarm and detection systems, generators, elevators, heating systems, water heaters, security systems, electrical distribution systems, and circuit breakers.
- Building Ordinance Or Law Coverage: Three separate coverage are provided with this endorsement:
Coverage A: Covers loss in value of the undamaged portion of the building due to demolition pursuant to a building ordinance or law.
Coverage B: Covers the cost of demolition and removing of debris of the undamaged portion of the building if demolition is required by building ordinance law.
Coverage C: Covers the increased cost to repair, reconstruct of remodel damaged or undamaged parts of the building to comply with a building ordinance law.
- Property Managers are included as additional insured.
- Employee Dishonesty pays for direct physical loss to business personal property and money and securities resulting from dishonest acts of the insured’s employees.
- Sewer & Drain Backup Coverage pays for the reasonable and necessary cost to repair or replace property due to loss or damage caused by back up or overflow of a sewer, drain or plumbing fixture, sump pump, sump pump well or any other system located off the premises which is designed to remove subsurface water from the foundation area.
- Cyber Liability and Data Breach Coverage provides coverage for privacy breach response services and expenses incurred to notify parties affected by a security breach, including fees and costs related to hiring a company to operate a call center; and reimbursing an insured for post-event credit monitoring costs for victims of breach.
John L. Saisi Insurance Agency, Inc. together with the Farmers Insurance Group of Insurance Companies offers you the best coverage in the industry at competitive rates, as well as, a knowledgeable and experienced staff to service all of your insurance needs.