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 A
XIV Rated carrier
Instant
Price and Binding Procedure
available
Available
in 8 states
AR,AZ,CA,ID,NV,NM,OR & WA.
Total
insured value up to 1.5 Million
online
and up to $3,999,999 on an
online
referral
basis!
Replacement
Cost Valuation included.
New
Construction, Renovation and
Existing Structure coverages
available!
Extensions,
inventory and model
home policies available!
One
to 4 family residential units ok
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We are pleased to announce our
new Great American Builders Risk Program
underwritten By Great American Insurance Companies! You are now able to price
your builder's risk Accounts qualify them, and print the binder immediately in
your office! Can it get any easier than that???
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[ TOP ] 
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INELIGIBLE RISKS
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Risks in designated Fire Brush Areas
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Manufactured Homes
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Risks that are not residential dwelling or outbuildings. (i.e. bridge, dam,
tunnel, roadwork, silos etc &).
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Risks with more than 3 builders risk claims in the past 3 years.
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Risks with a loss ratio of more than 50% in the past 3 years.
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Risks where the project’s builder/contractor has been in business as a
homebuilder or remodeler for less than 2 years or proposed builder/contractor
has less than 2 years of experience as a construction manager or supervisor.
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Risks where the remodeling is being done as a result of prior property damage
(i.e. flood, earth movement, fire or water damage).
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Risks with unique building methods or materials. (i.e. fabric structures,
earthen materials etc.).
[ TOP ]
UNDERWRITING
GUIDELINES
Great American provides Builder’s Risk/Course of Construction coverages for
Owner/Builders, Contractors & Developers building or remodeling residential
Dwellings. Dwellings (1 to 4 family) are allowed in all protection classes (1
through 10). The maximum allowable exposures allowed online are $1.5 million
but higher values may be referred in the system directly to your underwriter.
Minimum premium is $750 for CA and AR, $350 for all other states. Replacement
Cost Valuation is included.
Policies may be written for one year and extended coverage is available subject
to additional underwriting review.
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Tract work can be done by Great American but multiple dwellings on one policy
must be manually submitted. Quick & easy. See Underwriter for instructions.
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The project’s builder/contractor must have been engaged principally (75% or
more) in the construction and/or remodeling of one to four (1-4) family
dwellings for the past 2 years.
[ TOP ]
RATING INFORMATION
The rating information needed to develop a price indication is as follows:
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Project type (Is it New construction, Remodeling/Renovation with no existing
structure coverage or Remodeling/Renovation with existing structure coverage).
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Must be a residential structure. (Commercial not available at this time — It is
a manual submission to Underwriter).
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The state that the project is in.
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The protection class where the project is to be located.
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Whether the project is in a designated brush area.
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The construction type of the project (i.e. wood frame, joisted masonry,
non-combustible or better, log home or manufactured home)
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The value of the New construction or Remodeling/renovation, and, if the
applicant wants the coverage, the value of the existing structure.
[ TOP ]
GENERAL PROGRAM
INFORMATION
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Great American Builder’s Risk Program Coverage Advantages |
| COVERAGE ADVANTAGES |
AUTOMATIC LIMITS |
POINTS OF INTEREST |
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Our policy covers…
Building Materials and Supplies, Equipment and Machinery, Fixtures, Foundations
and Excavations, Underground Pipes and Drains, Paving, Pilings and Fences when
intended to become a permanent part of the structure; Temporary Structures,
Scaffolding and Construction Forms used at any construction premises covered by
this coverage form.
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Included in Job Site Limit |
Includes insureds property, and property for which the
insured is legally responsible
Includes the Reasonable builder’s profit
Replacement Cost Valuation
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And these additional coverages automatically…
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You can purchase Higher Limits for these additional coverages!
In addition to that, the deductible provision in the policy does not apply to
most of these coverage extensions*!
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Debris Removal
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10% of direct loss amount, $10,000 max*
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Valuable Papers and Records
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$5,000*
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Outdoor Trees, Shrubs and Plants
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$5,000*
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Fire Department Service Charges
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$1,000*
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Pollutant Clean Up and Removal
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$10,000*
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Covered Property in Transit
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$25,000
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| Covered Property at a Temporary Storage Location |
$25,000
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Other Optional Coverages… |
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Model Homes and Contents
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Homes in Inventory
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Furniture and Appliances
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Trade-in Homes
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Flood
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Earthquake
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Change Order Coverage
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Permission to Occupy
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Crime Reward Reimbursement
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Inflation Expense
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Extra Expense - Soft Costs
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Removal to Safe Location
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Deductible:
$500 / $1,000
/ $2,500 / $5,000
deductibles are available as options.
Risk Canceled or Non-renewed by
Company:
Please refer any risk that has been canceled or non-renewed to Builders &
Tradesmen’s Insurance Services prior to submission. We ask that full
information regarding the reason for cancellation or non-renewal and the
conditions or preventive steps taken by the applicant be provided.
Audit Basis:
Inland Marine premiums and exposures are not subject to final audit but an
inspection will be made after a policy is bound.
Payment Options:
Full annual premium - The producer may withhold commission and remit net
payment in full.
Certificates of Insurance:
Evidence of insurance can be provided by the agent.
LOSS PAYEE:
For Loss Payee documentation please fax the request to 916-772-9292.
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[ TOP ]
| Frequently Asked Questions |
How do I find out more?
Use our live support for an immediate response or call your
CSR or Underwriter at 916-772-9200.
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How do I get a Quote?
The online price indication process is by far the quickest
way to get a price. If your account falls outside of the parameters of the
online process, you will be informed that the risk must first be submitted to
your underwriter for review and subject to approval before coverage can be
bound.
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How do I get a renewal quote?
Our Builders Risk programs do not give automatic renewals.
You can request an "EXTENSION" online by creating a submission online and
submitting it to your Underwriter.
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Can BTIS finance this
for me?
No, premium is to be paid in full and is fully earned (with
the exception of NM policies)
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If I am having system
problems, what do I do?
Use our live support for an immediate response or call your
CSR or Underwriter at 916-772-9200. |
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[ TOP ]
Edition 8/23/07
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| This information is provided as a guideline only and is
subject to change with or without notice. |
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