When your insured’s vehicle takes a hit, so does their business. We are excited to announce that our office recently began a partnership with Allstate! Our Halcyon agent partners can now access Allstate for monoline auto. Continue reading for further details on this market for monoline and excess commercial auto. Here we will share the classes of business that fit Allstate’s appetite, general guidelines, and endorsements available to your customers.

Target Classes of Business

The below chart is a quick reference of the classes Allstate likes to see submitted and assist you in identifying potential opportunities that may be a great fit for us.

General Guidelines

Allstate can offer a quote up to $200K range in premium; preferably with a loss ratio below 40%. This commercial business auto program has a fleet size rating structure. Four auto units (units include trailers) or less are considered non-fleet, whereas 5+ units are considered a fleet, under these circumstances, the Fleet Supplemental Application will be required to receive a quote. For large fleet accounts please send in your submissions with a four-week lead time prior to the effective date.

Moreover, Allstate tends to be most competitive with businesses whose vehicles travel within a local radius. What is considered “local”? Allstate define a local radius as one that is within 50 miles from the vehicles garage address to the farthest point the vehicle operates on a regular basis.

• Here are additional appetite highlights for your review:
• Most competitive in the $30-80K range with binds.
• Can write pickup trucks, panel trucks, box trucks, refrigerated box trucks.
• SUVs are rated as trucks and not a Private Passenger Type (PPT) vehicle. PPT needs to be a sedan type vehicle.
• Can accept BOR’s.

It is crucial for our underwriting team to receive detailed submissions from our retail agent partners for a more accurate indication and faster turnaround time.

Endorsements

Insureds can also enhance their commercial auto policy with Allstate at no additional premium. Allstate’s Business Auto Enhancement Endorsement is available, which includes Blanket of Waiver of Subrogation, and Blanket Additional Insureds. In addition, Blanket Primary & Non-contributory is available upon request that may incur an additional premium. These optional coverages will further protect the liability of the insured.

Conclusion

We are excited to now partner with Allstate to be your new go-to market for monoline auto for the many classes listed above. Do you have a match for this product? Send your submissions our way for our underwriting staff to provide you a quote today.
This content is strictly informational and should not be used as specific advice on insurance products, legal, accounting, and/or tax related matters. Insureds should always contact the appropriate licensed professional for their insurance, legal, accounting, or tax needs.