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WEBINAR SERIES Sept 18, 2018
Sponsored byAbram Interstate Insurance Services(916) 780-7000 | AbramInterstate.com
AIIS CL – Top
Binding Products
Rebecca KnoblauchCommercial Lines Manager
John PoucherSales & Marketing Manager
Our Presenters
AGENDAWhy Abram Interstate
Garage
LRO
Restaurant
Q&A
Why Partner With Abram Interstate
Abram Interstate Insurance Services
21 Years in Business
Privately Held and Operated
Our Market Focus is Commercial, Agri-Business and Personal Lines
Friendly and Energetic Team – We are Here to Help
Garage Usually referring to General Auto Repair facilities &
operations Auto Repair
Glass repair/installation
Oil and Lube Service
Tune Ups
Body Shops
Garage - CoveragesGaragekeepers
GL
Property
Employee Tools
Vehicle damage to leased buildings
Cyber
EPLI
Crime
Workers Comp (package only!)
Garage - Appetite
TIV: $10 Million per Account, $5 Million per location
3 years in business under same ownership New Venture – acceptable w/ experience
Continuous coverage, no prior cancellations
Incidental new tire sales and installation okay
Building must have full utility updates within 30 years
Eligible
Garage - Appetite
Work on - Motorcycles
RV’s
Boats
Vehicles over 20,000 lbs GVW
Emergency response
Ineligible
Garage – Submission RequirementsCompleted ACORD
125, 126 & 140
Garage supplemental
3 year loss runs required at binding (unless new venture)
Submit to: [email protected]
Garage – Bound!!
Business Location Coverages Premium
Window Tinting Business
Sacramento, CA
GL $523
Auto Repair –Brakes and tune ups
Buena Park, CA
Fire & Comm Auto
$2,264
Auto Repair -General
Orange County, CA
CPP – GL, Prop & WC
$3,856
Trivia Time!Question – For Garage quotes, where should you send your submission?
Answer –[email protected]
Lessor’s Risk OnlyCommonly known as “LRO” or Landlord Insurance
Owner leases at least 25% of the building and does not occupy more than 75% of building
Leased to either Commercial tenants
Mixed Use – “mixture of personal units and commercial units”
LRO – Common TypesApartments
Office
Retail
Shopping Center
Retail w/ Apartment
LRO – CoveragesProperty
GL
EPLI
Cyber
Crime
LRO - Appetite
TIV: Apartment/Residential Condo: $75M per Account - $10M per
Building
Commercial Real Estate: $50M per Account - $10M per Building
Hotels: $25M per Account - $15M per Building
3 Years in business under same ownership New Venture acceptable w/ 3 years experience
Min occupancy rate of 80%
Hotel 60%
Building must have full utility updates within 30 years
Student housing acceptable
Eligible
LRO - Appetite
Named insured cannot include property manager/developer
No BBQ’s allowed on balconies
No seasonal risks
Ineligible
LRO – Submission Requirements
Completed ACORD 125, 126 & 140
3 year loss runs required at binding (unless new venture)
Submit to: [email protected]
LRO – Bound!!
Business Location Coverages Premium
Apartment Building
Los Angeles, CA
CPP – Prop & GL
$14,600
2 Warehouses – 25k & 20k Sq Feet
Los Angeles, CA
CPP – Prop & GL
$26,596
Trivia Question #2Question – How many eating and drinking establishments are there in California?
Answer – 72,387*According to National Restaurant Association as of 2016
Restaurant
Primary business operations is providing edible goods to varied customers
Class Examples: Donut Shops
Cafeterias
Coffee Shops
Drive-in
Family Style
Fine Dining
Restaurant - Coverages
GL
Property
EPLI
Spoilage
Cyber
Crime
Workers Comp (package only)
Restaurant - Appetite
TIV: $25M per Account - $10M per Location
3 Years in business under same ownership New Venture acceptable w/ 3 years experience
Operating hours until no later than midnight preferred
Building must have full utility updates within 30 years
Liquor – Employees should have TIPS training
Eligible
Restaurant - Appetite
Hired/Nonowned not available on delivery operations
Hookah
Dance Floors
Non-sprinklered frame buildings
Ineligible
Restaurant – Submission RequirementsCompleted ACORD
125, 126 & 140
3 year loss runs required at binding (unless new venture)
Submit to: [email protected]
Restaurant – Bound!!
Business Location Coverages Premium
Gelato store Los Angeles, CA
CPP – Prop & GL
$2310
Mexican Restaurant
Sacramento, CA
BOP $743
Fast Food restaurant
Tracy, CA BOP $2,892
Family Style Restaurant
Richmond, CA CPP – Prop & GL
$2,086
Abram Interstate offers you many options to fit the needs of your client!
Submissions
Questions?
