Overview of the Program from VAIL
VAIL - Value Added Insurance Lines, in partnership with Trivedi, offers a specialized Umbrella Program for Residential and Commercial Real Estate accounts. This program is designed for condos, co-ops, and other similar properties that require an extra layer of protection beyond their primary insurance policies. With access to Fireman's Fund and other top-tier carriers in most available markets, this umbrella solution is ideal for agents and brokers serving clients with complex or high-value real estate portfolios.
Ideal Accounts and Appetite
This program is tailored for:
- Residential condominiums and cooperative buildings
- Commercial real estate properties with multiple tenants or locations
- Property management companies and real estate investment groups
You might have a client who owns a portfolio of mid-rise condo buildings or manages a set of commercial units with exposure to public foot traffic. This umbrella program can help you deliver the higher limits and broader protection they need.
Coverage Highlights and Advantages
Separate Aggregate Limits Over Each Primary Policy
Unlike most carriers that offer a single aggregate limit for both excess and umbrella coverage, this program provides a separate aggregate limit over each scheduled primary policy. That means your clients receive enhanced protection across all liability aggregates, including:
- Premises liability
- Products/completed operations
- Liquor liability
- Employer’s liability
Additional Coverage Features:
- Automatic inclusion of additional insureds at the named insured’s option
- Automatic coverage for newly acquired or formed entities
- Follow-form aggregates that apply per location, per policy, per project, and per coverage
- Waiver of subrogation included (if present in the primary policy)
- Coverage for unintentional failure to disclose
In addition to lead umbrellas, this program also offers excess limits up to $15 million, supported by dedicated umbrella/excess claims specialists who understand the unique risks of real estate operations.
Underwriting Notes and Minimum Premiums
There is no minimum premium requirement, making this a flexible solution for a wide range of account sizes.
Minimum Underlying Requirements for First Layer Excess:
|
|
| General Liability |
$1,000,000 each occurrence/$2,000,000 general and products |
| Automobile Liability |
$1,000,000 combined single limit |
| Employers’ Liability |
$500,000/$500,000/$500,000 |
| Director’s and Officer’s |
$1,000,000 each claim |
|
Territories and Availability
This umbrella program is available in most U.S. markets, including AL, AZ, AR, CA, CO, CT, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, DC, WV, WI, and WY. Admitted paper is used where available.
Why Work With VAIL
VAIL is a trusted wholesale broker that brings value-added solutions to agents and brokers across the country. With access to high-quality carriers like Fireman’s Fund and a focus on real estate risk, VAIL provides tailored umbrella and excess coverage that helps you protect your clients and grow your business. Their expertise in crafting custom solutions and handling complex accounts ensures that you have the support you need from submission to claims.
Frequently Asked Questions
What types of accounts are a good fit for this umbrella program?
This program is ideal for residential condos, co-ops, and commercial real estate properties needing higher liability limits and broader coverage.
What are the umbrella limit options available?
You can offer your clients limits of $5 million, $10 million, or $15 million, with excess options also available.
Are newly acquired properties or entities automatically covered?
Yes, the program includes automatic coverage for newly acquired or formed companies, helping to keep your clients protected as their operations grow.
Is there a minimum premium requirement?
No, there is no minimum premium, making this program accessible for accounts of various sizes.
Which states is this program available in?
The program is available in most U.S. states, including key markets like CA, FL, TX, NY, and IL.
Need help placing an account? Connect with a market specialist.