WEBINAR SERIES May 17, 2017 Vacant Property & Builder s Risk. Sponsored by Abram Interstate Insurance Services (916) AbramInterstate.

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1 WEBINAR SERIES May 17, 2017 Vacant Property & Builder s Risk Sponsored by Abram Interstate Insurance Services (916) AbramInterstate.com

2 Our Presenters John Poucher Sales and Marketing Manager Drew Medina Marketing Representative

3 AGENDA Why Partner with Abram Interstate and AU Gold Eligible & Ineligible Exposures Coverage Limits & Advantages How to Quote Q & A

Why Partner With Abram and AU Gold Abram Interstate Insurance Services AU Gold 20 Years in Business Privately Held and Operated Consistent Growth From 3 to 21 Employees Our Market Focus is

4 Why Partner With Abram and AU Gold Abram Interstate Insurance Services AU Gold 20 Years in Business Privately Held and Operated Consistent Growth From 3 to 21 Employees Our Market Focus is Commercial, Personal Lines, and Agri-Business Friendly and Energetic Team We are Here to Help AU Gold abramintestate.com & Au Gold Online Access Servicing a Real Market Need Competitively Priced and Highly Successful Hit Ratio of Nearly 47% Instant Online Quoting With Coverage Options and Price Indications Intuitive Process Simple to Use Written on Lloyd s Paper A Rating from A.M. Best

5 Question 1 How many vacant housing units were there in California at the time of the last US Census in 2010? Answer 1,102,583

Vacant Coverage Mono-line Property, Package, and Multiple Locations, Including Schedules Available Multiple Policy Term Options of 3,6,9, or 12 Months Significant Schedule Credits Available (State

6 Vacant Coverage Mono-line Property, Package, and Multiple Locations, Including Schedules Available Multiple Policy Term Options of 3,6,9, or 12 Months Significant Schedule Credits Available (State Specific) Building Limit or Coverage A up to $3ML Other Structures or Coverage B Available for up to 20% of Building Value Low Minimum Premiums Deductibles as Low as $1,000 Cosmetic Renovation Coverage: 50% of Building Value up to $400,000

7 Vacant Coverage - Commercial Commercial Premises Liability Limit Options to $1ML/$2ML Commercial Forms ISO Basic & Special ACV & RCV Options Theft Option in Conjunction with Vandalism and Active Central Station Alarm on Special Form Parking Lot Premises Coverage Available AI s Added at No Cost

Vacant Coverage - Residential Forms ISO DP1 & DP3 Premises Liability Including Partnerships, Joint Ventures, LLCs and Trusts Premises Liability up to $1ML

8 Vacant Coverage - Residential Forms ISO DP1 & DP3 Premises Liability Including Partnerships, Joint Ventures, LLCs and Trusts Premises Liability up to $1ML Premises Liability Includes Swimming Pool Liability Theft Coverage Available in Conjunction With Vandalism and Malicious Mischief on DP3 AI s Added at No Cost

Vacant Renovations Building Envelope Must be Secure No Openings and Unsecured Work Cannot be Structural in Nature No Work Affecting Load Bearing Walls or the Building Envelope Roof Must be Complete

9 Vacant Renovations Building Envelope Must be Secure No Openings and Unsecured Work Cannot be Structural in Nature No Work Affecting Load Bearing Walls or the Building Envelope Roof Must be Complete and Finished Not Just Under Roof Laid Work Values Need to Reflect Work Being Done Does the Project Value Compared to the Building Make Sense? A Contractor Should Have Their Own Liability Policy Property Owners Can Make Their Own Cosmetic Renovations

10 Rater Demo Vacant Risk

11 Question 2 What is the average spending per home with Improvements/Remodels in California for 2016? Answer - $7,591

Builder s Risk - Coverage Property and General Liability available Property Monoline or Package Property Coverage Availability for Other Structures and Personal Property of up to 20% of Coverage A

13 Builder s Risk - Coverage Property and General Liability available Property Monoline or Package Property Coverage Availability for Other Structures and Personal Property of up to 20% of Coverage A Premises Liability up to $1ML and Commercial GL up to $1ML/2ML (Liability Available if Acting as General Contractor) Vandalism and Malicious Mischief Coverage Available Full Theft Coverage Available for DP3 TIV up to $2ML Policies Can be Extended to 18 Months Protection Classes 1 to 10 Available Coverage for Theft of Building Materials Available

Builder s Risk Eligibility Eligible Residential Buildings up to 10K Sq. Ft. Project Costs up to 150% of Existing Dwelling Value Modular Homes Accepted Existing Building Value of $1.

14 Builder s Risk Eligibility Eligible Residential Buildings up to 10K Sq. Ft. Project Costs up to 150% of Existing Dwelling Value Modular Homes Accepted Existing Building Value of $1.5ML ($500K PC9/10) with a 3 Story Maximum Secured Against Unauthorized Entry During Off Hours Insured Acting as Contractor and Subs Out All Work Ineligible Buildings in Distressed Areas Buildings With Existing Damage Buildings That are Condemned or Scheduled for Demolition No Renovation After Fire, Theft or Vandalism, Demolition or Underpinning of an Existing Building or Structure, Lead, Asbestos, or Other Pollutant Abatement Insured Acting as Contractor and Doing Actual Work

15 Builder s Risk Forms Standard ISO Policy Forms Policy Form Options are DP1, DP3, Special and Basic for 3,6,9 or 12 Month Policies Residential - DP3 Available if Built or Updated Within 30 Years Commercial - Special Available if Built or Updated Within 20 Years

16 Rater Demo Builder s Risk

17 AU Gold Product Highlights

18 How to Quote Web AU Gold Online Paper ACORD Form Company Form

19 Questions? Abram Interstate offers you many options to fit the needs of your client! (916)

WEBINAR SERIES July 26, High Value Homes. Sponsored by Abram Interstate Insurance Services (916) AbramInterstate.

WEBINAR SERIES July 26, High Value Homes. Sponsored by Abram Interstate Insurance Services (916) AbramInterstate. WEBINAR SERIES July 26, 2017 High Value Homes Sponsored by Abram Interstate Insurance Services (916) 780-7000 AbramInterstate.com Our Presenters Marcy Tabora Personal Lines Manager marcyt@abraminterstate.com