Breneman Blueprint: Real Estate and Entrepreneurship Podcast · Drew Breneman

Insurance Q&A: Coverage Gaps, Coinsurance, Ordinance & Law, Worker’s Comp, and More | Tom Panos

·56 min·3 clips

Ordinance A, B, and C can turn a partial loss into a much bigger insurance gap.

1. Breneman Blueprint: Real Estate and Entrepreneurship Podcast uses Tom Panos to answer insurance questions for property owners. 2. Drew Brenneman hosts the conversation, and Tom Panos is a commercial insurance broker with BKS who writes national accounts. 3. The episode aims to explain insurance terms that show up on real estate policies but are often misunderstood. 4. Tom says one of the biggest mistakes is low building limits combined with co-insurance on replacement cost values. 5. He uses a $10 million building insured for $5 million to show how a co-insurance penalty can reduce a claim. 6. Tom says replacement cost agreed amount or waived co-insurance is what he tries to secure on most real estate accounts. 7. He explains that many insureds see 80% co-insurance without understanding the penalty calculation behind it. 8. Hail deductibles come up as a percentage of the building limit, not a percentage of the premium or a fixed deductible amount. 9. Tom says water backup and sewer backup are common claim types and are sometimes missing or limited on policies. 10. Equipment breakdown coverage matters when a building has central cooling or heating equipment. 11. Tom says a small claim may not justify an adjuster, but a larger loss can make a third-party adjuster worthwhile. 12. He says an independent adjuster reviews the policy, calculates business income loss, and negotiates scope and pricing with the carrier’s adjuster. 13. Tom describes a fire claim where the insurer’s adjuster argued about replacing a stove versus repairing part of it. 14. He says larger claims often include business income, ordinance or law, and reconstruction issues that are difficult to handle alone. 15. The discussion compares two buildings that looked similar from the outside but had very different insurance pricing because of construction. 16. Tom says one building was masonry non-combustible and the other was joist and masonry, which changed the rate materially. 17. He notes podium construction is harder to place because some carriers refuse to write it after seeing larger losses. 18. The tone is technical, consultative, and practical, with Drew asking follow-up questions from an owner’s point of view. 19. Real estate investors who buy or manage multifamily property will get the most out of this episode. 20. People looking for general insurance basics without property-specific detail may skip it.

As heard by us

Insurance turns on details fast when similar buildings hide different construction underneath.

Drew Brenneman and Tom Panos keep the discussion anchored on insurance as a hard deal-making factor. They show why getting a broker involved early can change the outcome, especially when two buildings seem almost identical from the street but are built differently underneath.

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Why you'd press play

You want the insurance details that can change a deal fast.

Read the full recommendation in PlayNext →

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