Vacation Rental Program Overview

• Minimum Policy Premium:

• $500 on Property

• $500 on General Liability

• Policy Deductible:

• $2,500, $5,000, $10,000 and $25,000 deductibles available

• Eligible Agents:

• Must have a current property & casualty and brokers license in the state (s) where you will be writing business.

• Provide necessary documentation for the risk.

• Eligible Insureds:

• Vacation rental properties are defined as units typicall leased for one or two week periods. Vacation rental properties include, but are not limited to the following:

• Resort condominiums & resort townhomes
• Lakeside cabins
• Seashore cottages
• Ski area chalets
• Park bungalows

Eligible prospects might be referred to as vacation homes, escape homes, sencond homes, and/or seasonal/holiday home rentals. Resort settings may include desert, golf, lake, mountain, beach, skiing, and them park properties.

• Binding:

• OLD LINE will bind coverage within 24 hours with the following conditions being met:
  1. Receipt of a completed and insured signed application.
  2. Photographs or website with photographs of structures.
  3. Determination that underwritting conditions are satisfied or will be within 30 days.
  4. Receipt of Loss Runs for the last 3 years.

• If the risk is not approved, you will be notified immediately via telephone, fax or e-mail.

• Claims:

• A dedicated claims department is available for you and your insureds. (Fax Claim Notices to 240-405-1450)

• Claim processing will commence immediately and insureds will be contacted within 24 hours.

• Paying Premium:
  
  
  • Producing agencies will be billed for client premium.
    
    
  • Producing agencies can determine theirown commission rate. A billing summary will be provided showing a defaulted 10% administrative fee (commission) for your use in billing insureds.
    
    
  • Insureds Payment Options
    
    
    • Payment in full to local agent or
    • Premium financing is available. The downpayment plus state taxes and fees, and signed finance agreement due upon binding of policy