The Small Commercial program on Big “I" Markets recently expanded into the non-admitted market to bring you access to vacant commercial buildings. Coverage is available as a package or monoline, and multiple locations can be considered. Product features include:
- Commercial forms Basic & Special - ACV / RCV options
- Property Building Limit up to $2,000,000, $2.5m on referral
- Premises Liability Limit up to $1,000,000/$2,000,000
- Coverage B or Other structures coverage available for up to 20% of building value
- Policy term options of 3, 6, 9 and 12 months
- Property qualifies up to 36 months vacancy
- Standard ISO policy forms; Deductibles as low as $1,000
- Cosmetic Renovations approved up to 50% of building value (max $400,000)
- Theft and Vandalism & Malicious Mischief coverage available on Special form
- Additional Insureds added at no cost
- Low minimum premiums to compete with all major markets
- $150 policy fee in all states where allowed
- Inspection fee may apply
While each risk will be considered on its individual characteristics, ineligible risks include schools, golf clubs, warehouses or other large buildings with unsupported roof structures, buildings with pre-existing damage, historical buildings. Partially occupied risks will be referred to the carrier for consideration and a supplemental application will be required.
Photos or physical inspections are required for new business and renewals, based on the value of the building. If a physical inspection is required the cost will be included in the quote. Due to current COVID-19 conditions, your insured may be asked to provide exterior and/or interior photos.
To request quotes, log into Big “I" Markets and select Small Commercial. When in the Request a Quote process you will be prompted to download the required applications. The Small Commercial program is currently accepting applications for vacant commercial buildings from members in AR, AZ, CO, CT, DE, GA, IA, IL, IN, KS, MA, MD, MI, MN, MO, MT, NC, ND, NE, NH, NJ, NM, OH, PA, SC, SD, TN, TX, VA, VT, WA, WI, WY. More states will be available in the near future.
BIM is a licensed surplus lines broker in all 50 states and D.C., and will complete all filings on behalf of your agency. There is no requirement that your agency be licensed in surplus lines.*
*All members in SC must have at least one broker in the agency in order to quote admitted or non-admitted products with Big “I" Markets.