Owners, Management Secure Lower Insurance Premiums at The Beach Club

Two successive years with no major storm impact and the ambitious efforts of condo owners at The Beach Club have resulted in considerably lower insurance premiums for the coming year. The Beach Club says that owners will pay 47 percent less for wind and all-perils policies in 2008 compared to 2007. “Not only did premiums decrease compared to last year, but our coverage is better as well,” said Ed Evans, general manager of The Beach Club.

Evans says the decrease in wind and property insurance comes after a months-long process by its insurance committee, which is comprised of owners and the management company. The committee performed extensive analysis and several interviews before securing the 2008 insurance agreement. Condominium owners have been paying elevated premiums since hurricanes Ivan in 2004 and Katrina in 2005. News of decreasing insurance costs was a hot topic at a recent Eastern Shore Chamber of Commerce Coastal Insurance Symposium. At that meeting, Alabama Insurance Commissioner Walter Bell said he recently spoke with two other condominium owners whose insurance premiums have decreased by 50 percent. Evans says this downward turn in insurance costs not only lowers out-of-pocket costs for condo owners, but will hopefully have a positive impact on property values.

The Beach Club, a premier gulf-front resort on the Fort Morgan peninsula, is one of the most desired resorts for owners looking for high-end amenities nestled in a natural landscape. For more information, please visit www.relaxonthegulf.com.