Fee Schedule and Payment Button

Premium or TIV                                                        Fee

(whichever is lower)


Premium: $0 to $5,000                                           $125.00

TIV: $0 to $1,500,000


Premium: $5,001 to $10,000                                   $150 .00

TIV: $1,500,000 to $2,500,000


Premium: $10,001 to $20,000                                 $200.00

TIV: $2,500,001 to $5,000,000


Premium: $20,001 and over                                    $250.00

TIV: $5,000,001 and over



                                           How To Determine The Fee

  

The fee to you cannot be based on premium alone as premiums reflect exposure; meaning, identical Inns may be paying different premiums based on their exposure, such as location. For example:

  • Inns located on or near the Atlantic/Gulf coast or in tornado alley will pay more for wind coverage then Inns not located in these areas. 
  • Inns in wildfire or hail areas pay more than their counterparts say in Vermont. 


In addition to location, there are other exposures and rating factors which drive rates and impact premium: type of construction (frame or brick), existence of sprinkler systems, claim activity, age of building, activities offered, distance to fire station/hydrant, water pressure in the hydrant, etc., etc., etc.


Therefore, your fee is based on your premium or TIV, whichever is lower. TIV means “Total Insured Value”. To derive TIV simply add together your building(s), contents and business income limits.


             Fee Determination Examples--Same Limits, Different States


The Inn is located in Maine: Building limit $500,000, contents limit $100,000, 

business income limit $200,000, TIV of $800,000 and premium of $4,300

Fee is $125


The Inn is located in Florida: Building limit $500,000, contents limit $100,000, business income limit $200,000, TIV of $800,000 and premium of $8,700

Fee is $125

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