Apartment building insurance renewals the whole committee can sign
Last year's terms beside this year's, the valuation behind the sum insured, your notes on every change and a signature from each committee member.
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Apartment and property brokers use QuoteCloud to send renewals with last year's limits and premiums beside this year's, the change in dollars and per cent, the broker's notes on why, other insurers' quotes side by side, a director's approval on large renewals (Business) and a signature from each committee member.
An apartment block elevation for a fictional apartment building, The Calloway Apartments, filling floor by floor to last year's building sum insured of $18.4 million and on to this year's $19.2 million from the committee's 2026 valuation. A card shows the annual premium moving from $46,330 to $49,605, up 7.1%, as quoted. The committee secretary, Priya, has signed; the treasurer, Graham, is awaiting signature.
Last year beside this year, with your reasons
The Calloway Apartments' renewal as the committee reads it before the AGM: every cover both years, the change in dollars and per cent, your notes on why, and the other insurers' terms as an appendix.
Last year beside this year
Renewing insurer: Marrowbank Mutual · 12 months from 30 Nov 2026
| Cover | 2025–26 | 2026–27 | Change |
|---|---|---|---|
| BuildingSum insured from the committee's 2026 valuation | $41,880$18.4m | $44,960$19.2m | +$3,080 |
| Public liabilityAny one occurrence | $2,140$20m | $2,210$20m | +$70 |
| Office bearers' liabilityCommittee members | $620$1m | $640$1m | +$20 |
| Fidelity guaranteeOwners' association funds | $380$250,000 | $395$250,000 | +$15 |
| Machinery breakdownTwo lifts and the pool plant | $1,150$100,000 | $1,240$100,000 | +$90 |
| Voluntary workersWorking bees | $160Standard | $160Standard | No change |
| Annual premiumAs quoted | $46,330.00 | $49,605.00 | +7.1% |
- Tallowmere broker fee + tax
- $1,815.00
- Total this year
- $51,420.00
Premiums as quoted by the insurer, including tax and statutory charges. Sample figures.
The building premium rises mainly because the sum insured follows the new valuation. Your broker's notes explain each change.
What changed this year
- Building sum insured follows the committee's 2026 valuation: $18.4m to $19.2m.
- Marrowbank Mutual is renewing on the same terms and excesses as last year.
- We also asked two other insurers; their terms are in the appendix.
Graham HoltCan we see the other two quotes before the AGM?
Leilani, TallowmereYes, they're in the appendix, side by side. I'll walk the committee through them on Thursday.
Appendix: the other insurers' terms
Annual premiums for 12 months from 30 Nov 2026, same sums insured
| Cover | Alder & Finch | Corvane | Marrowbank Recommended |
|---|---|---|---|
| BuildingSum insured from the committee's valuation · $19.2m | $46,880 | $45,720 | $44,960 |
| Public liabilityAny one occurrence · $20m | $2,150 | $2,300 | $2,210 |
| Office bearers' liabilityCommittee members · $1m | $690 | $610 | $640 |
| Fidelity guaranteeOwners' association funds · $250,000 | $410 | $380 | $395 |
| Machinery breakdownTwo lifts and the pool plant · $100,000 | $1,310 | $1,190 | $1,240 |
| Voluntary workersWorking bees · Standard | $150 | $170 | $160 |
| Annual premiumAs quoted | $51,590.00 | $50,370.00 | $49,605.00 |
- Annual premium · Marrowbank MutualAs quoted, including tax and statutory charges
- $49,605.00
- Tallowmere broker feeFor arranging and managing the apartment building policy
- $1,650.00
- Tax on the broker fee
- $165.00
- Total
- $51,420.00
- Paid on signing · broker feeInto Tallowmere's own Stripe account
- $0.00
Premiums as quoted by each insurer, including tax and the levies and duty the broker types in from each quote. Sample figures.
Large renewals reviewed before they go out
Set an approval rule on total value, and any apartment building insurance renewal over it goes In Review before it can be sent. Helen, the director, reads the whole document, the comparison and the notes, then approves or declines it.
It is an internal check your brokerage chooses to run. It isn't a compliance process and QuoteCloud doesn't decide anything in it.
- Rules on total value or discount percentage
- By team, role, template or customer
- The approver sees the document the committee will see
Approval workflow: Business plan
How the approval workflow worksDocument workflow
In ReviewTriggered when Total value greater than $25,000
- Helen CarrowDirectorWaiting
Renewals over $25,000 go to a director before they're sent.
- Leilani Fox sent TI-S-0917 for review · Mon 12 Oct, 11:05 am
Approval workflow · Business plan
A signature from each committee member
Add the secretary and the treasurer as signers and each gets their own signing block. Priya signed on Thursday evening; Graham's block shows as awaiting signature until he signs.
Questions go in the comments rather than an email chain, so Graham's question about the other quotes and Leilani's answer travel with the renewal.
- Every signer in their own block, no account needed
- Signed and awaiting, per signer
- Certificate of authenticity with the audit trail
eSignatures: every plan
Disclosures, acknowledgements & signersAccept and sign
1 of 2 signed
- Priya DesaiSecretary, owners' association committee SignedThu 15 Oct, 7:20 pm
- Graham HoltTreasurer, owners' association committee Awaiting signature
Certificate of authenticity and audit trail attached
Make your apartment building insurance renewal template in the trial
Free for 14 days, no credit card required. Send us your current renewal letter and we'll convert one template for you during the trial.
Sample renewal · TI-S-0917
Why the premium moved, in one document
The building's sum insured follows the committee's own 2026 valuation, so the renewing insurer's premium rises with it. Your notes say so beside the figures, and the committee signs the same page.
An apartment building insurance renewal from the valuation to signatures
How an apartment building insurance broker uses one renewal template across a whole book of buildings.
Revise last year
Revise last year's signed renewal, so the old terms are already in the table.
Enter this year
Type the renewing insurer's limits and premiums, using the sum insured from the committee's valuation.
Explain the change
Add your notes on each change and the other insurers' terms as an appendix.
Director's review
Over your threshold, a director approves it first (Business).
Committee signs
Send to the secretary and treasurer; each signs in their own block.
Apartment building insurance questions, answered
Can an apartment building insurance renewal show last year's terms beside this year's?
Yes. Lay out each cover with last year's and this year's limit and premium and the change in dollars and per cent, then the totals. Start by revising last year's signed renewal so the old figures are already there, and type in the renewing insurer's new terms.
Can several committee members sign one renewal?
Yes. Add each committee member as a signer and each gets their own signing block. The document shows who has signed and who is still awaiting signature, and the certificate of authenticity records every signer. Signers don't need a QuoteCloud account.
Does QuoteCloud value the building?
No. The sum insured comes from the committee's own valuation, and the premiums from each insurer's quote. QuoteCloud shows the figures you enter; it values nothing and calculates no premiums, levies or duty. If the committee commissions a new valuation, revise the renewal with the new sum insured and the insurer's revised premium.
Can large renewals need a director's approval?
Yes, on the Business plan. Set an approval rule on total value, for example renewals over $25,000, and the document goes In Review until the named approver approves it. It's your brokerage's internal check, not a compliance process. The approver sees the whole renewal before the committee does.
Can I include the other insurers' quotes?
Yes. Add a comparison of the other insurers' terms to the renewal, for example as an appendix, so the committee can see them before the AGM. You type each insurer's premiums from their quotes. Your notes beside the figures can explain any difference in cover between them.
Can the owners' association pay through QuoteCloud?
If you choose, a payment on signing can take your fee or the premium into your brokerage's own Stripe or PayPal account (Essentials and up). Many apartment building insurance brokers invoice instead. QuoteCloud doesn't hold client money or arrange premium funding, so check your own rules first.
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Your next apartment building insurance renewal, signed by the committee
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