Arrowhead Small Business Commercial Earthquake
Description
Arrowhead’s Small Business Commercial Earthquake program provides coverage for Earthquake, Flood and EQSL risks tailored to smaller commercial and habitational properties in California. With a streamlined quoting process and a focus on thoughtful risk evaluation, this program delivers flexible solutions backed by A+ XV rated carriers.
Product highlights
Coverage limits
- Up to $10M for commercial occupancies.
- Up to $20M for habitational occupancies (HOA, apartments, multi-unit condos).
Total insurable values (TIV)
- $250K to $10M for commercial occupancies.
- $250K to $20M for habitational occupancies.
- TIV under $5M requires full limits purchase.
- TIV of $5M+ or more requires a minimum loss limit of $2.5M.
- Deductibles:
- Per unit deductible: 5%-25% (five options per quote).
- Minimum earthquake deductible: $50K.
- Minimum flood deductible: $50K.
- Valuation = replacement cost; BI = actual sustained loss.
- Additional coverages:
- Business income (up to 40% of account TIV).
- Building ordinance, with full Coverage A; B and C sub limited to 10% of all building values.
- Fees:
- Policy fee: $300.
- Inspection fee: $300 (billed on all new business and every third year for renewals).
- Minimum premium: $2,500
Target markets
- Commercial occupancies and smaller businesses in California.
- Habitational properties, including HOAs, apartments and multi-unit condos (4-unit minimum), located in California.
Program restrictions
- No single-family dwellings or HOAs with only common area values.
- Property age restrictions:
New business
- Wood frame: 1970 or newer.
- Other construction classes: 1980 or newer.
Renewals
- Wood frame: 1960 or newer.
- Reinforced joisted masonry: 1965 or newer.
- Concrete tilt-up: 1976 or newer.
- Reinforced concrete/steel frame/metal: 1970 or newer.
Exclusions
- Risks with tuck-under parking, poorer construction types or older construction will be declined.
- Soft soil situations or high liquefaction risks will be declined.
Contact information
For more information, please contact:
Keith Richardson
Sr. Underwriter
KRichardson@ArrowheadGrp.com
619-881-8598
Who's Covered
Commercial occupancies HOAs, apartments and multi-unit condos are accepted (4-unit minimum)Coverages Offered
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)
Availability
Applications and Informational PDFs
Contact Arrowhead General Insurance Agency, Inc.
Log-in to ProgramBusiness to contact Arrowhead General Insurance Agency, Inc.
LoginDon’t have a log-in? Register for free here.
ProgramBusiness is 100% free for agents and agencies.
Registered users can submit ACORDs, loss runs, etc to quickly receive quotes from multiple markets or the market of your choice.