Specialty Products
Small Business Commercial Earthquake
Product Info
Arrowhead’s Small Business Commercial Earthquake Program covers DIC perils including Earthquake, Flood and EQSL, for smaller California businesses only. We offer:
- One business day premium indications
- Policy Limits available from $250,000 to $10 million for commercial occupancies, and up to $20 million for habitational occupancies (HOA, apartments, multi-unit condos)
- Minimum premium: $2,500
QBE Specialty Insurance Company
Everest Indemnity Insurance Company
Steadfast Insurance Company
Everest Indemnity Insurance Company
Steadfast Insurance Company
CA
Coverage Highlights
- Policy Limits available from $250,000 to $10 million for commercial occupancies, and up to $20 million for habitational occupancies (HOA, apartments, multi-unit condos)
- Total Insurable Values (TIV) from $250,000 to $10 million for commercial occupancies, and up to $20 million for habitational occupancies (HOA, apartments, multi-unit condos)
- Minimum premium: $2,500
- TIV under $5 million must purchase full limits
- TIV of $5 million+ must purchase a minimum loss limit of $2,500,000
- Per unit deductible 5% – 25%. Five deductible options provided on each quote
- Minimum EQ deductible = $50,000
- Minimum Flood deductible = $50,000
- Valuation = Replacement cost | BI = Actual loss sustained
- $300 policy fee / $300 inspection fee (an inspection fee is billed on all new business and every third year on renewals)
- Additional coverages available to include:
- Business income (not to exceed 40% of account TIV)
- Building ordinance
- Full coverage A. B and C are sublimited to 10% of all building values (must meet year built requirements – please contact us for further information)
Target Market
- Commercial occupancies
- HOAs, apartments and multi-unit condos are accepted (4-unit minimum)
Restrictions:
- Risks with tuck-under parking, poorer construction types or older construction will immediately be declined
- Location address used to search soils database to determine adequacy of soils
- Soft soil situations or very high liquefaction will prompt declination
- Property age limitations:
–Wood frame: 1960
–Reinforced joisted masonry 1965 (concrete block)
–Concrete tilt up: 1976
–Reinforced concrete/steel frame/metal: 1970 - All property locations will be inspected to verify submitted information is accurate
- 25% minimum earned premium
- No single-family dwellings
- No HOAs that consist of only common area values
How to quote
Quote Online at ArrowheadExchange.com
- Go to ArrowheadExchange.com, select Producer and login
- Select Commercial Earthquake on your left navigation, then click Get a Quote or Renewal Quote
- Enter underwriting information
- Premium indication will emailed within one business day
- Option to print a quote form to present to your client
- Request to bind coverage online. Arrowhead reviews all submissions before coverage can be bound
- Required upon binding:
- Surplus lines information
- Inspection contact and phone
- Mortgage and loss payee info (if applicable)
- Payment terms are the same as our standard program requirements
- An agency check must be received within 30 days of the month which a policy is effective
- Policy issued after binding
- Quotes are good for up to 90 days
NOTE: You cannot bind the same day. You must request to bind the day before you need coverage.