Non-renewal for nonprofit with historic building Charlotte Hajer asked 1 year ago
Non-renewal for nonprofit with historic building

Hello,

The Sonoma Community Center owns and operates from a historic building (built in 1915) in downtown Sonoma. For the second year in a row, our property insurance is being non-renewed. Last year, we were able to find one company willing to insure us, but our premium went up four-fold. This year, we have received a single quote, and it represents another doubling of our premium cost. The issue seems to be the combination of being located in a wildfire-prone are, the historic status of the building, and the fact that we have a commercial kitchen on-site. We continue to search for alternative options, but would be eager for guidance on how to find affordable and sustainable options for property insurance.

1 Answers
Karl Susman Karl Susman Expert answered 1 year ago
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Hi –

You seem to be extremely clear on the challenges you’re facing and why. Yes, location, type of business, historic landmark and the commercial use are all unique insurance factors. Finding an insurer that is willing to take on all of them, even if we were in a more stable insurance marketplace, would be challenging. As I always advise, you can check around, however given the insurance industry currently and all of those challenges to insure it, I would be disingenuous if I didn’t say you are fortunate to have any insurer offering terms.

Probably not what you want to hear, however my advice would be to take the option given to you while the offer is still available.

Please let me know if I can be of any further assistance.

Karl Susman