In a tough insurance market, Greenwood General Insurance Agency recently pulled off an impressive feat by securing a rare property insurance policy for a warehouse in Simi Valley, California. Located in a wildfire-prone area surrounded by dense brush, the warehouse had been turned down by multiple insurers due to the high risk.
The warehouse, valued at $3 million, needed full coverage, including $3 million in business income protection to keep things running smoothly if disaster struck. Most carriers declined to offer coverage here because the location put the property in serious danger of wildfire damage.
Greenwood’s underwriting team saw beyond the risks tied to the zip code. With deep knowledge of California’s unique insurance challenges and connections with specialty carriers willing to take on difficult risks, they worked quickly and strategically. Within just three days, they secured a full insurance package for the client, including the critical wildfire limits and business income coverage, for a premium around $60,000.
The lead underwriter highlighted the importance of this win. “The business itself was solid. It’s the geography that caused problems with getting coverage,” they said. By finding the right market and making a strong case, Greenwood was able to protect the warehouse’s future and the livelihood of its employees.
This achievement not only shows Greenwood’s skill in handling tough cases but also highlights the challenges businesses face in wildfire-prone areas. As wildfires become more common, finding insurance coverage like this helps local businesses stay resilient when disaster hits.
For more information about Greenwood General Insurance, you can reach out to Catherine, the company’s marketing administrator, at (626) 817-9100 Ext 540 or via email at catherine@gwgeneral.com. Their website is www.gwmga.com.