In 2021, GAR Foundation learned the price of its management liability insurance – which protects the Foundation’s assets and its board of directors – was going to be experiencing a substantial increase. Their coverage was about to expire, and they weren’t presented with any alternative options.
They reached out to Schauer Group for help.
In short order, Schauer Group’s team of commercial insurance experts designed a program that improved GAR’s insurance coverage, reduced the amount of risk they were required to retain, and cost less than half of what the Foundation originally expected to pay.
Since then, the two organizations have continued to build a proactive and communicative partnership that helps GAR Foundation both deliver on its mission and protect its home – the historic Andrew Jackson House.
Schauer Group’s expertise in insuring historic properties, such as the Andrew Jackson House, has been a great asset. They have consistently represented our interests in the best possible way and have been wonderful partners, exceeding our expectations every time.”
The Andrew Jackson House, located at 277 E Mill St. in Akron, was built in 1868 for local lumber magnate Andrew Jackson. After serving for over 100 years as both a private residence and the Akron headquarters of the Independent Order of Odd Fellows, the house sat vacant for 20 years before being restored in the early 2000s for the new home of GAR Foundation. Today, the house is listed on the National Register of Historic Places as it still boasts quarter-sawn oak floors, cast bronze hinges, and solid walnut doors that are original to the building.
Because of the unique historical features at Andrew Jackson House, it needs to be insured differently from other office spaces. As such, the Foundation’s insurance program includes a historical building valuation endorsement – meaning, if the building is damaged, it will be rebuilt with materials appropriate for its historical period, and the work will be completed by a restoration contractor.
Since Schauer Group and GAR Foundation have been working together, this important insurance coverage has ensured GAR had access to copper accents and shingles to repair the home’s roof after a bad storm. The team at Schauer Group also facilitated a historic building replacement cost appraisal on the Andrew Jackson House, which not only helps the Foundation obtain the appropriate amount of insurance coverage necessary to protect their historic building but also provides them with additional options when looking for the best insurance company partner.
Ultimately, the relationship between Schauer Group and GAR Foundation means they have a “trusted and reliable partner” that’s committed to providing ongoing risk management support and understanding the Foundation’s specific needs, said GAR Foundation President Christine Amer Mayer.
“Schauer Group’s expertise in insuring historic properties, such as the Andrew Jackson House, has been a great asset,” Mayer said. “They have consistently represented our interests in the best possible way and have been wonderful partners, exceeding our expectations every time.”
