Small Business Special Risk

Small Business Special Risk

Specialty Products

Small Business Special Risk

Tall office building

Product Info

Arrowhead’s Small Business 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, Empire Indemnity 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 = $25,000
  • Minimum Flood deductible:
    • $25,000 (for TIVs under $5,000,000)
    • $50,000 (for TIVs over $5,000,000)
  • Valuation = Replacement cost | BI = Actual loss sustained
  • $150 policy fee / $240 inspection fee (Waived on renewals; inspections are reordered every 3 years)
  • 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.