Earthquake Deductible Buy-Back
Help reduce out-of-pocket exposure for commercial clients after earthquake damage
TIV
From $500K to $250M
Minimum Buy-Back
As low as $10K*
Follow Form
To primary policy terms
50 States
Available in all states
It’s supplemental follow-form buy-back coverage for commercial property owners and construction projects with high earthquake deductible risk.
How Does It Work?
Imagine the primary earthquake deductible is $1M, for example
Client chooses to retain $100K out-of-pocket (deductible)
A covered earthquake loss occurs
The primary policy adjusts the loss
Earthquake Deductible Buy-Back policy reimburses $900K of deductible
Client only pays $100K out-of-pocket
What’s Included
Commercial properties, classes of business, and construction projects
Pay covered earthquake deductibles
Follow-form to primary policy terms
Instantly quote, bind, and issue in under 5 minutes
As low as $10K
How Are Claims Handled?
Sullivan, Inc. owns a 10-story office building in San Francisco.
An earthquake compromised the building’s structural frame and cracked support columns throughout the lower floors, causing $750K in damage and triggering the $600K deductible on the primary policy (15% of the building’s $4M value).
Fortunately, Sullivan, Inc.’s policy made it possible to reduce their exposure to just $10K out of pocket.
With that paid, repairs moved forward and their Earthquake Deductible Buy-Back policy absorbed the $590K difference.
out-of-pocket
Deductible Buy-Back
Real World Examples
Office Building in Washington
Multi-Use Building in Nevada
Retail Building in Tennessee
