I Need Help Finding a Carrier for This Risk

[Eddie_K]

I have a client who owns a small plot of land next to Ralph Wilson Stadium (where the Buffalo Bills play) and needs GL on it. Most of the carriers I go though won't touch this risk due to the tailgating. The one carrier who will wants $8k for the year.

His land will hold about 50 cars, and at $20 a pop for 8 home games during the season, he's only profiting $8k.

Does anyone have any advice on what carrier may take him at a reasonable rate? I know once you throw alcohol into the mix, things get very pricey, very fast....

Thanks guys!

 

[Dave020]

I don't know anything about P&C but have to ask.....

Is it Hammer's Lot on Abbott? Just curious.

 

[Eddie_K]

Hi Dave. Shoot me a PM for more info. I'm not able to send PMs yet.

 

[msmajeda]

Try american safety insurance
they specialize in vacant land and property. they may be able to help

 

[djs]

Actually, he's not profiting $8K, he is grossing $8K. If its anything like CA, then the city will want a cut of the parking fees, plus taxes, plus the labor of somone out there collecting, etc.

I'm not sure it would be worth it in the end, he needs to add a second floor to his lot so he can park 100 cars!!!!

I've never tried to write coverage for this type of thing. I can see where it would be pricey very quickly.

Dan

 

[WinoBlues]

Actually, he's not profiting $8K, he is grossing $8K. If its anything like CA, then the city will want a cut of the parking fees, plus taxes, plus the labor of somone out there collecting, etc.

I'm not sure it would be worth it in the end, he needs to add a second floor to his lot so he can park 100 cars!!!!

I've never tried to write coverage for this type of thing. I can see where it would be pricey very quickly.

Dan

Raise the price to $100. Have maked off stalls and provide porta potties.

 

[djs]

Hmm, you must go to niner's games. Your taking $20 off of the parking fees and throwing in the porta potties! A great plan!

 

[WinoBlues]

Hmm, you must go to niner's games. Your taking $20 off of the parking fees and throwing in the porta potties! A great plan!

 

[Eddie_K]

Any other suggestions?


American Saftey doesn't want to reply back to me. I'm assuming they don't have a market for that risk.

 

[jhuang]

I think his exposure is quite high for GL. Random people coming in and out with a high possibility of Loss. Maybe turn it to a paid parking lot with meters and then get then GL again? May be worth while to investigate if he's going to operate a parking lot.