Program Advantages - High Value Coverage
IIABCal and program partner Arrowhead have a High Value Residential Quake Program. IIABCal members automatically have access to the High Value market as part of the IIABCal Residential Earthquake Program and receive a one-way addendum when quoting.
IIABCal members simply quote on line as with the Residential Earthquake product underwritten by QBE Insurance Corporation and if applicable receive a High Value Residential Quake quote from the carrier Palomar Specialty Insurance Company. There is no appointment process and no minimum production requirements. In addition, there are no additional codes and the submission process is the same.
Arrowhead Exchange Online rating, click here.
- Quick & Accurate
- Easy to use and immediate results
- 24/7 Online accessibility
- Quotes saved for retrieval
- Internet connection a requirement – Automatic Updates
Palomar Specialty, Admitted A- (VII) rated carrier by A.M. Best Company, will underwrite the high-value market and offer coverage for the following:
- Policy limits up to $15 million total insured value for all California Zip Codes
- Any dwelling age acceptable, provided homes built prior to 1955 have proof of retrofitting
- Dwellings built prior to 1972 must be properly anchor-bolted to the foundation and cripple walls must be braced with plywood (or equivalent)
- Residence types must be individually owned with 1-4 family dwellings
- Dwelling must be made of frame construction
- Coverage amount must be equal to the underlying dwelling limit
- All pre-existing earthquake structural damage must be repaired prior to writing coverage
An optional “Plus” Endorsement can be added to the Superior EQ Policy, Featuring:
- Sub-limit for swimming pool increase to $50,000
- Loss of use cap increased to a maximum of $200,000
High-Value Underwriting Guidelines
High-Value Marketing Flyer
High-Value Program Underwriter
As an admitted insurance company with an “A-“ (Excellent) rating from A.M. Best Company, Palomar Specialty takes pride in its strong customer and reinsurance relationships, best-in-class catastrophe modeling technology, and our personal commitment to taking a long term view of high-value earthquake risk.