Great American Inland Marine

Great American provides Inland Marine coverage for artisan contractors for commercial and residential work. Coverage is available for Buildings, Stock, Business Property, Tools, Equipment, Installation Floaters, Leased/Rented Equipment, EDP and more. This program is competitive writing very large pieces of equipment like Loaders, Excavators, Concrete Pumps and large commercial office and retail buildings including some manufacturing and processing buildings. Several packaged Inland Marine coverage options are available. Tract work is also acceptable in this program.

  • Woodworkers, Cabinet Makers, or any operation where wood cutting or sawing is taking place is prohibited. Cabinet Installation only okay.
  • Risks involved in any of the following activities:
    Bridge Builder, Dredging, Equipment Rental & Leasing to Others, Manufacturing, Mining (surface or underground), Oil Field Work, Scrap Yard or Warehousing.

Great American offers coverage for small artisan and service contractors. This program targets those contractors with real property that supports their construction operations. Office and warehouse exposures must represent the majority of the occupancies written. Coverage will be provided when office or light retail exposures cohabitate with the contractor's office or warehouse occupancies. However, high hazard occupancies will not be entertained. This program also offers coverage for contractor's equipment, office contents, installation property and/or electronic data processing equipment exposures.

Property
  • Property may be added to Inland Marine coverage
  • Real Property $1,000,000 total insured value
  • Contents value $1,000,000
  • Business Income $450,000
Inland Marine
  • Miscellaneous tools and equipment maximum total value $50,000 with a $1,000 maximum value per item
Contractors Equipment
  • Total value of all equipment $1,000,000
  • Total insured value any one item $250,000
  • Equipment leased or rented from others is available
Installation Floater
  • Any one job site $200,000
  • At any location other than job site $10,000
  • Property in transit $10,000
Computer Systems Coverage
  • Total insured value of all covered property (Computer, Media and Extra Expenses) $50,000
  • Extra expense $10,000
  • Property at any unnamed premises $5,000
Reasons for Referral
  • Risks with less than 2 years in business
  • Risks whose insurance has been cancelled
  • Risks with bankruptcy in the past 5 years
  • Risks with more than one Property or Inland Marine loss in the past 3 years
  • Risks with a loss that exceeded $5,000 paid in the past 3 years
  • Risks with annual leased or rented equipment expenses in excess of $25,000
  • Risks involved in any of the following activities: Auto/Truck Repair, Farming, Logging, Demolition, Reclamation or Landfill Work, Retailing, Roofing, Underground Work or Waterborne
  • Risks that rent or own Asphalt Plants or Cranes
Waiver of Premium

Additional or return premium account balances of $10.00 or less will be waived.

Risks Cancelled or Non-renewed by Other Company

Please refer any risk that has been cancelled or non-renewed to Builders & Tradesmen's Insurance Services Inc. 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.

Cancellations

Policies will be prorated (without penalties) when cancelled for the following reasons:

  • At the request of the company
  • Nonpayment of premium
  • Insured no longer has a financial or insurable interest in the property or business operation

When a policy is cancelled for any reason other than outlined above, a penalty of 10% of the pro rate unearned premium will apply.

Reinstatement with a Lapse in Coverage Guidelines

To avoid a lapse in coverage, all outstanding issues must be addressed and/or payments must be received by Builders & Tradesmen's Insurance Services, Inc. prior to the cancellation date.

Annual Minimum Premium
  • $750 - Inland Marine per policy
  • $250 - Per line of coverage
  • $2,500 - Property per policy (stand alone)
  • $1,850 - Property per policy (with Inland Marine coverages included)

Inland Marine and Property Coverages
  • Office Contents
  • Miscellaneous Tools and Small Equipment
  • Computer Systems (Equipment, Data and Media, and Extra Expense)
  • Scheduled Equipment (light, medium and heavy)
  • Installation Floater ($10,000 minimum value)
  • Rented/Leased Equipment (from others)
  • Many other coverages available

Please contact Underwriting with any questions or unusual circumstances.

Deductible

$1,000 all perils and all coverages.

Inspection

An inspection will be made after a policy is bound.

Payment Options
  • BTIS Financed - BTIS can arrange financing through Best Choice Premium Finance.
  • Full Annual Premium - The Producer may withhold commission and remit net payment in full.
Certificates of Insurance

If adding as Additional Insured or special wording is required on the certificate, such request must be referred to BTIS for approval. Evidence of Insurance can be provided by the Agent.

Additional Insured Guidelines

Typically not applicable to Inland Marine or Property coverages.

Loss Payee and Lenders Loss Payee forms

Available upon request. In most cases, the Agent can process an Evidence of Coverage or Loss Payee form in their office.

Renewals

To receive a renewal quote, please submit your Acord forms by fax to 916.772.9292 Attn: Inland Marine Department. Policies will not be renewed unless requested by the Insured or Producer, along with the appropriate documents and down payment. To avoid a lapse in coverage, payment must be received prior to the expiration date. Payments received after the renewal date will be renewed as effective on the date payment is received by the company (lapse in coverage). Payments received more than 14 days from the renewal date will be returned with no coverage afforded.

NO COVERAGE IS BOUND WITHOUT PRIOR APPROVAL FROM THE CARRIER. THE CARRIER RESERVES THE RIGHT TO DENY ANY REQUEST FOR REINSTATEMENT.

Frequently Asked Questions

How do I find out more?
Use our live support for an immediate response or call your CSR or Underwriter toll free at 877.649.6682.

How do I get a quote?
Please refer to the Submission Instructions section.

If I am having system problems, what do I do?
Use our live support for an immediate response or call your CSR or Underwriter toll free at 877.649.6682.

Can I write B licensed contractors in this program?
As long as they are not performing prohibited operations, the B licensed contractors are eligible for the Great American Inland Marine program.

This information is provided as a guideline only and is subject to change with or without notice.