Total Annual Premium
$40,246
Apartment $39,967 + Umbrella $279
Per Unit Cost
$660/yr
$55/unit/mo
Building Coverage
$7,733,600
Blanket across 6 locations
Policy Period
Mar 21, 2025
to Mar 21, 2026
Total Liability
$2,000,000
+ $1M umbrella
Apartment Policy — State Farm Lloyds
Policy Details
| Policy Number | 93-KB-Y654-0 |
| Carrier | State Farm Lloyds (Richardson, TX) |
| Policy Type | Apartment Policy (Businessowners) |
| Annual Premium | $39,967 |
| Named Insured | Ka'Anali 168 LLC |
| Entity Type | Limited Liability Company |
| Auto Renewal | Yes (12-month term) |
| Discount Applied | Years in Business |
Agent & Mortgagee
| Agent | Bo Rester |
| Agent Phone | (903) 572-9999 |
| Agent Address | 1404 S Jefferson Ave, Mt Pleasant TX |
| Mortgagee | Federal Home Loan Mortgage Corp |
| c/o | Arbor Agency LLC / ISAOA/ATIMA |
| Mortgagee Address | 500 Colvin Woods Pkwy #200, Tonawanda NY |
Section I — Property Coverage
| Coverage | Limit / Detail |
|---|
| Coverage A — Buildings (Blanket) | $7,733,600 |
| Coverage B — Business Personal Property | No Coverage |
| Locations Covered | 6 (all at 311 E Crockett Ave, Alamo TX) |
| Inflation Coverage Index | 231.4 |
| Valuation Method | Actual Cash Value (FE-3650) |
Deductibles
| Type | Amount |
|---|
| Basic Deductible | $30,000 |
| Wind / Hail | 10% of Coverage A |
| Employee Dishonesty | $250 |
| Equipment Breakdown | $2,500 |
| Lock Replacement | $100 |
Deductible Alert: Wind/Hail @ 10%
Wind/Hail deductible is 10% of Coverage A ($7,733,600) = $773,360 out-of-pocket exposure for a wind/hail claim. This is standard for Texas coastal/border properties but represents significant risk. The basic $30,000 deductible applies to all other property claims. Inflation coverage may adjust deductibles over time.
Extensions of Coverage — Each Described Premises
| Coverage | Limit |
|---|
| Collapse | Included |
| Damage To Non-Owned Buildings (Theft/Burglary/Robbery) | Coverage B Limit |
| Debris Removal | 25% of covered loss |
| Equipment Breakdown | Included |
| Fire Extinguisher Systems Recharge | $5,000 |
| Glass Expenses | Included |
| Increased Cost of Construction & Demolition | 10% |
| Newly Acquired Business Personal Property | $100,000 |
| Newly Acquired or Constructed Buildings | $250,000 |
| Ordinance or Law — Equipment Coverage | Included |
| Preservation of Property | 30 Days |
| Water Damage / Other Liquids / Powder / Molten Material | Included |
Extensions of Coverage — Each Complex
| Coverage | Limit |
|---|
| Accounts Receivable — On Premises | $50,000 |
| Accounts Receivable — Off Premises | $15,000 |
| Arson Reward | $5,000 |
| Forgery or Alteration | $10,000 |
| Lock Replacement | $5,000 |
| Money Orders & Counterfeit Money | $1,000 |
| Outdoor Property | $5,000 |
| Personal Effects | $2,500 |
| Personal Property Off Premises | $15,000 |
| Pollutant Clean Up & Removal | $10,000 |
| Property of Others | $2,500 |
| Signs | $2,500 |
| Tenant Move Back Expenses | $15,000 |
| Valuable Papers & Records — On Premises | $10,000 |
| Valuable Papers & Records — Off Premises | $5,000 |
Extensions of Coverage — Per Policy
| Coverage | Limit |
|---|
| Employee Dishonesty | $25,000 |
| Loss of Income & Extra Expense | Actual Loss Sustained — 12 Months |
Section II — Liability Coverage
| Coverage | Limit |
|---|
| Coverage L — Business Liability (Each Occurrence) | $1,000,000 |
| Coverage M — Medical Expenses (Any One Person) | $5,000 |
| Damage To Premises Rented To You | $300,000 |
| Products/Completed Operations Aggregate | $2,000,000 |
| General Aggregate | $2,000,000 |
Inland Marine — Attaching Coverage
| Coverage | Limit | Deductible |
|---|
| Computer Property | $10,000 | $500 |
| Loss of Income & Extra Expense (Inland Marine) | $10,000 | — |
Endorsements & Forms
CMP-4100 Businessowners Coverage Form
CMP-4500 Apartment Endorsement
CMP-4506.2 Loss of Income & Extra Expense
CMP-4710 Employee Dishonesty
CMP-4746.1 Hired Auto Liability
CMP-4807 Lock Replacement
CMP-4502 Tenant Move Back Expenses
CMP-4503.1 Heating/AC Loss Reimbursement
CMP-4849 Windstorm or Hail Deductible
CMP-4784 Per Dwelling Building Deductible
CMP-4532 Exclusion — Cyber Incident
FE-1401 Exclusion — Cyber Incident
FE-3650 Actual Cash Value Endorsement
FE-6999.3 Terrorism Insurance Coverage Notice
CMP-4561.5 Policy Endorsement
CMP-4243.3 Amendatory Endorsement
FE-1269 Amendatory Endorsement
FD-6007 Inland Marine Attaching Declarations
Commercial Umbrella Policy — State Farm Fire & Casualty
Policy Details
| Policy Number | 93-KV-L030-9 |
| Carrier | State Farm Fire & Casualty Co (Bloomington, IL) |
| Annual Premium | $279 |
| Self-Insured Retention | $10,000 |
| Policy Period | Mar 21, 2025 – Mar 21, 2026 |
Umbrella Limits
| Coverage L — Each Occurrence | $1,000,000 |
| Coverage L — Annual Aggregate | $1,000,000 |
Required Underlying Limits (Scheduled)
| Coverage | Limit |
|---|
| Business Liability — BI & PD (Each Occurrence) | $500,000 |
| Business Liability — BI & PD (Annual Aggregate) | $1,000,000 |
| Employers Non-Owned Auto — BI & PD (Each Occurrence) | $500,000 |
| Employers Non-Owned Auto — BI & PD (Annual Aggregate) | $1,000,000 |
| Hired Auto — BI & PD (Each Occurrence) | $500,000 |
| Hired Auto — BI & PD (Annual Aggregate) | $1,000,000 |
Umbrella Endorsements
CU-2100 Commercial Umbrella Coverage Form
CU-2474.4 Policy Endorsement
CU-2243.2 Amendatory Endorsement
FE-6999.3 Terrorism Insurance Coverage Notice
CU-2339 Exclusion — Lead Poisoning
CU-2498 Exclusion — Cyber Incident
Key Exclusions & Coverage Gaps
Cyber Incident — EXCLUDED
Both apartment policy (CMP-4532, FE-1401) and umbrella (CU-2498) exclude cyber incidents. No coverage for data breaches, ransomware, or cyber-related liability. Consider standalone cyber policy.
Lead Poisoning — EXCLUDED (Umbrella)
Umbrella policy excludes lead poisoning claims (CU-2339). Given ~2015 construction, lead risk is low but the exclusion means no excess coverage above the primary policy for any lead-related claim.
No Business Personal Property
Coverage B is "No Coverage" — no protection for on-site business equipment, appliances in common areas, maintenance tools, or office contents. All business personal property is uninsured.
Actual Cash Value (Not Replacement Cost)
FE-3650 endorsement means claims are paid at depreciated actual cash value, not full replacement cost. In a major loss, payout could be significantly less than rebuild cost.
Wind/Hail: 10% Deductible ($773,360)
Any wind or hail damage claim has a deductible of 10% of Coverage A = $773,360. This is standard for South Texas but requires significant reserves or a catastrophe plan.
Flood — NOT INCLUDED
No flood coverage in this policy. Hidalgo County is subject to flooding events. Verify whether a separate NFIP or private flood policy is in place, especially given lender requirements.
Total Coverage Stack
| Layer | Policy | Per Occurrence | Aggregate |
|---|
| Primary Property | State Farm Lloyds 93-KB-Y654-0 | $7,733,600 | $7,733,600 |
| Primary Liability | State Farm Lloyds 93-KB-Y654-0 | $1,000,000 | $2,000,000 |
| Umbrella Liability | State Farm F&C 93-KV-L030-9 | $1,000,000 | $1,000,000 |
| Total Liability Stack | | $2,000,000 | $3,000,000 |