Eatontown, N.J.-based Quaker Special Risk launched a new program tailored for luxury home builders building homes that have a sale price of $350,000 and up. Coverage is provided for new home construction including incidental remodeling and renovations. The focus of the program is single family home construction and does not extend to condominiums or townhomes.
New ventures will be considered with adequate prior construction experience. Quaker has designed the program for accounts that build up to 15 homes per year. The minimum premium for $1 million/$2 million/$2 million in most states is $7,500. Project specific policies are available. Quaker’s program has a unique rating basis and broad policy wording. The program has an east coast focus and is not available in Calif., N.V., Ariz., Colo. or Wash. The carrier is rated “A XV” by A.M. Best.
Source: Quaker Special Risk, www.quakerspecialrisk.com
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