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What discounts does Bamboo offer?
The maximum total premium credit that can be applied to any policy is 60%.
MULTI-POLICY DISCOUNT
If the insured has another in-force personal or commercial lines policy with The Company or a private passenger auto policy (car, truck, or SUV only) with the same producer a premium credit will be allowed. This credit will apply to the basic premium for the policy. This credit will be discontinued if/when the other policy(ies) lapse. Only one credit for the highest qualifying discount level, as identified below, can be applied to the policy at any time.
|
Discount Level |
Other Policy Type |
Premium Adjustment |
|
Level I |
Private Passenger Auto with Same Producer |
5% |
|
Level II |
Any other policy with The Company |
12% |
GATED COMMUNITY DISCOUNT
If the risk is located in a gated community or neighborhood where access is restricted and controlled for residents by operational, powered gates, a 5% discount is applied to the basic premium.
NEWLY ACQUIRED HOME DISCOUNT
If the insured dwelling has been newly purchased by the Named Insured, a 9% discount will be applied to the basic premium for the first year of the policy. This discount will be reduced to 6% at the first policy renewal, 3% at the second policy renewal, and will be removed thereafter. To qualify for the discount, the effective date of the policy must be within 60 days of the closing date of the insured’s purchase of the dwelling. We will apply the discount upon proof that the insured dwelling qualifies.
AGE OF HOME RATING PLAN
The following credits or surcharges are applied to the basic premium based on the age of the home to be insured.
|
Age of Home (Years) |
Premium Adjustment |
|
0 |
-35% |
|
1 |
-31% |
|
2 |
-29% |
|
3-4 |
-24% |
|
5-6 |
-22% |
|
7-8 |
-20% |
|
9-10 |
-17% |
|
11-12 |
-15% |
|
13-14 |
-13% |
|
15 |
-12% |
|
16 |
-10% |
|
17 |
-8% |
|
19 |
-3% |
|
20 |
0% |
|
21 |
+2% |
|
22 |
+4% |
|
23 |
+6% |
|
23 |
6% |
|
24 |
8% |
|
25-30 |
10% |
|
31-41 |
8% |
|
42-54 |
5% |
|
55-62 |
7% |
|
63-90 |
10% |
|
91-100 |
15% |
|
101+ |
25% |
TILE ROOF CREDIT
If the insured dwelling has a tile roof in good condition, a 5% credit to the basic premium will be applied.
CENTRAL ALARM SERVICE DISCOUNT
|
Central Alarm Service |
Premium Adjustment |
|
Burglary Only |
5% |
|
Fire Only |
5% |
|
Burglary and Fire |
10% |
*Adjustment applies to the basic premium
To qualify for this credit, the alarm must be a full perimeter or motion-detecting system connected to a remote 24-hour central station service, or police and fire department. The credit is applied to the total premium for Coverages A (Dwelling), B (Other Structures), and C (Unscheduled Personal Property).