Stockton, Calif.-based Hull & Co. recently announced a new residential homebuilders market in California.
Coverage is provided by an “A+” XV carrier and is designed for companies with up to $15 million in sales per year and up to 15 homes a year.
Custom building will be rated on gross sales basis while spec home builders will be written on a payroll and cost of sublet work basis. The form contains no action over exclusion. Builders putting up U.S. manufactured modular, prefabricated or kit homes, are acceptable.
The company program will consider removing subsidence or earth movement exclusion on flatlands. Importantly, defense costs are outside the limits.
Limits are $1 million per occurence, $2 million aggregate or up to $5 million per occurance/$5 million aggregate.
The minimum premiums for this program are $20,000 for up to five units; $25,000 for six to 15 units and U.S. manufactured modular, prefabricated or kit homes.
For more information contact Jeff Case at jcase@hullco.com or call 209-474-9100 ext. 224.
Topics California
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