1. Premium Amount

This is the actual cost of the policy over the full coverage term (usually 12 months). Review whether the premium includes all applicable fees, taxes, and endorsements.

2. Deductibles

Understand how much your insured party owes out-of-pocket before coverage applies.

• General property deductibles
• Specific deductibles like water, earthquake
• Per-claim vs. per-occurrence terms

3. Coverage Limits

These define the maximum payout for covered claims. Evaluate: 

• Building replacement coverage 
• General liability and umbrella limits 
• Ordinance and law coverage 
• Loss of rents or business interruption 

Higher limits often support stronger risk transfer, especially in portfolios with exposure to natural disasters or high occupancy. 

4. Carrier Reputation

A financially stable and experienced carrier increases claim resolution speed and long-term protection. Use AM Best or S&P ratings as references. Ask for historical performance like delay days in settling, especially for teams managing frequent claims.

5. Policy Endorsements and Exclusions

Quote documents often include custom terms. Track: 

• Added coverage (e.g., cyber, flood, equipment breakdown) 
• General liability and umbrella limits 
• Exclusions (specific events or causes not covered) 
• Sub-limits (caps on categories within the broader limit) 

This section often highlights the real difference between two quotes with similar premiums.