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      3. Bamboo Insurance

      Bamboo: Surcharges

      What are the surcharges in the Bamboo program?

      PRIOR LOSS SURCHARGE

      The Prior Loss Surcharge recognizes the loss history of an insured, applicant, or property in determining the appropriate premium for a new or renewal policy.

      The following types of losses are not considered chargeable:

      • Catastrophe claims such as wildfires, tornados, hurricanes, or earthquakes are assigned a CAT number by ISO
      • A loss for which a payment occurred only with respect to Medical Payments to Others or Similar
      • Equipment Breakdown Coverage

      Risks with losses will be surcharged as follows:

      Type and Number of Losses

      Premium Adjustment

      1 Non-theft/non-water related claim in last 36 months

      10%

      1 Theft or 2 non-theft/non-water related claims in

      last 36 months*

      15%

      1 Water related claim in the last 36 months

      20%

      *Increase basic premium by 15% - risk not eligible for $500 deductible for all perils (excluding earthquake).

      PROTECTION CLASS 9 AND 10 SURCHARGE

      Risks in protection class 9 or higher are subject to a surcharge as outlined in the factors below:

      Protection Class

      Rating Factor

      8 or less

      1.00

      9

      1.15

      10

      1.30

      WILDFIRE RISK SURCHARGE

      Risks with higher wildfire risk are subject to a surcharge as outlined in the factors below. Wildfire discounts and surcharges will not apply to policies with the DIC endorsement attached.:

      Fireline Score

      SHIA Factor No

      SHIA Factor Yes

      True 0

      0.900

      n/a

      0

      1.000

      1.125

      1

      1.130

      1.170

      2

      1.180

      1.210

      3

      1.220

      1.250

      AGE OF PLUMBING SURCHARGE

       

      Age of Plumbing (Years)

      Premium Adjustment

      1 - 10

      0%

      11- 20

      2%

      21 - 30

      4%

      31 - 40

      6%

      41 - 50

      8%

      51+

      10%

      *Adjustment applies to the basic premium

      UNFENCED SWIMMING POOL SURCHARGE

      When an unfenced swimming pool, hot tub, spa, or similar structure is on the property, apply the applicable premium surcharges.

      Personal Liability

      Premium

      $100,000

      $30

      $200,000

      $39

      $300,000

      $48

      $500,000

      $60

       

      Medical Payments

      Premium

      $1,000

      $8

      $2,000

      $10

      $3,000

      $12

      $4,000

      $14

      $5,000

      $15

      NOTE: Selected limit must match Personal Liability Limit and Medical Payment Limit.

      OCCUPANCY SURCHARGE

      If the insured dwelling is not the sole primary home, a 20% surcharge to the basic premium will be applied.