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Here are a few of the products we offer.

Protecting your personal belongings is always a primary concern for any family. At Inter Insurance Agency, our Personal Lines Specialists work with you to develop a custom-tailored insurance program to protect your family, home, auto, and other valuable possessions at the most reasonable, competitive costs our carriers can provide.

Homeowners Insurance

Homeowners Insurance The biggest investment most people will ever make is in their home. That’s why it makes sense to protect the sizable financial investment you’ve made in your own home with a comprehensive homeowners plan.

Your home purchase is an investment deserving the protection that only an experienced insurance professional can provide.

Basic Protection You Need For
• Your home
• Other buildings or structures on your property
• Your personal belongings
• Furniture, clothing, appliances, etc.
• Additional living expenses
• Your personal legal liability
Special features you can choose for additional security:
  • • Home Replacement Guarantee Replacement
  • • Cost on Contents
  • • Additional Coverage Form

Auto Insurance

To properly protect yourself from the always present danger of huge awards for auto liability, it is imperative that you maintain the proper level of coverage for your particular situation.

If you have any doubts about the appropriate level of automobile coverage that's right for you, we have excellent plans available through reputable auto insurers, and we will be happy to help pinpoint the coverage best suited to your needs.

Compulsory Auto Policy Coverage
  • • Bodily Injury to Others
  • • Personal Injury Protection
  • • Bodily Injury Caused by Uninsured Auto
  • • Damage to Someone Else's Property
Optional Coverage
  • • Optional Bodily Injury to Others
  • • Medical Payments
  • • Collision
  • • Comprehensive
  • • Substitute Transportation
  • • Towing and Labor
  • • Bodily Injury Caused by an Underinsured Auto

We offer insurance packages that are tailored for different types of businesses. Whether it is insurance for your building, business property, equipment, inventory or company vehicles, we offer products and services to protect your business. In addition, we offer group health and retirement plans.

Property Insurance

Property Insurance covers the risk of property loss in a variety of commercial situations, including commercial buildings, equipment, furniture, fixtures, inventories, business records, supplies and other physical items.  Commercial Property insurance is essential for any business, covering occurrences in which physical damage results in damage both to the physical items themselves or results in a loss of income.

Property Insurance may cover two types of property losses:
  • Direct losses may be covered when property is lost, stolen, damaged or destroyed.  This type of coverage is very common, since it important for a business to acquire insurance covering its physical assets.

  • Indirect or consequential losses related to direct losses can also be covered, including business income.   This covers the effects of a loss beyond the damage itself.

Commercial General Liability Insurance

Casualty Insurance consists primarily of liability coverage, which protect an insured party against injury or damage claims made by other parties.  In today's business environment, it is especially important for business to protect themselves against potential damages to other parties which could result in devastating lawsuits involving years of litigation.  We offer a broad range of options from dozens of markets and tailor our products to suit your specific needs.

Policies provide coverage for liability arising out of:
  • • Premises and Operation
  • • Fire Damage Liability (damage by fire to premises rented to insured)
  • • Personal and Advertising Injury
  • • Medical Payments
  • • Products/Completed Operations

Workers' Compensation

Workers' Compensation coverage applies to bodily injury and diseases arising out of and in the course of employment. Any bodily injury must be accidental, and the term includes death resulting from the accident. Only occupational diseases, which are unique to the occupation, are covered.

Workers' Compensation provides for the payment of four types of benefits:

        • • Medical benefits
      • • Income benefits
      • • Death benefits
      • • Rehabilitation benefits

A representative can provide you with complete details on Workers' Compensation Insurance and recommend cost-effective ways to control expenses through safety engineering and claim services.

Commercial Auto Insurance

Commercial Auto Insurance covers vehicles that are owned, leased, hired or borrowed by businesses, whether they are associations, corporations, partnerships or sole proprietorships.  Business Auto coverage may be used to insure private passenger autos and all types of trucks, trailers, semitrailers, limousines and other commercial vehicles designed for use on public roads. 

We can give you more details about specific coverage and deductibles and about tailoring a Business Auto plan that’s right for you and your business.

We offer Speciality Insurance Programs. These help you in tems of your cost and insurance coverage.

Trucking Insurance Division

Inter Insurance Agency is a full service Brokerage who handles all of your trucking related insurance needs quickly and efficiently.

We specialize in long and short haul trucking accounts consisting of small units of 1-4 as well as larger fleets and we can place your business with both admitted and non-admitted insurance companies rated by A.M. Best as "A" or better.

Our Trucking Division prides ourselves in our commitment to deliver courteous customer service; provide quick turn around time, instant I.D. Cards and same day processing for certificates of insurance. Depending on your needs, we can also help arrange competitive premium financing options.

Our trucking services include:
  • • Primary laibility
  • • ICC filings
  • • Cargo insurance filings
  • • General liability
  • • Workers' Compensation
  • • Trailer interchange
  • • Property Damage Coverage

Japanese Restaurant Insurance

 

We believed that even within this challenging insurance environment, that most risks could be insured profitably if properly developed, evaluated, underwritten, priced and serviced by experienced personnel. Based on this belief, and careful review of the other "programs" generally available to this class of business, we identified that there is significant niche that existed in the area of upscale Japanese Business that met this criteria.

Based on our extensive knowledge of this business and the way in which the standard classifications are currently applied within the insurance industry, we strongly felt the need to recognize the special risk characteristics of these quality Japanese businesses within the overall industry classification and premium structure.

Specialty Products Facilities

Various financial institutions and loans/lease originators of all sizes are exposed to significant loss arising from the devaluation or loss of their Specialty Products Facilities collateral. The loss on value of as asset can be caused by physical damage, theft, market value fluctuations and many other perils from which the purchaser of coverage has little or no control.

The groups, which we would be most likely to consider the services offered by the "Specialty Products" operations, are:

  • • Commercial Banks
  • • Dealerships
  • • Manufacturers
  • • Finance Companies
  • • Fleet Leasing Companies
  • • Credit Union

Numerous insurance products have been developed to protect the contingent liabilities and the assets of finance companies against several common perils. Three of the most common policies for coverage sought are Contingent and Excess Liability, Lender's Single Interest and Gap Insurance

Lender's Single Interest

Lender's Single Interest (LSI) coverage protects consumer loan collateral, autos, RV's, boats, mobile homes, etc., from uninsured damage or theft, skip by the borrower and lien filing errors.

All Risk Physical Damage & Theft

Coverage before and after repossession protects the lender from uninsured damage and loss of the loan collateral.

Skip & Confiscation

Covers the lender from loss of the collateral when both the borrower and vehicle cannot be located. Any goverment seizure of the vehicle resulting in forfeiture of the asset is also covered.

Instrument Non-Filing

Covers the lender from loss due to an unintentional error in the lien filing process, which upon default prevents the lender from taking possession of and re-marketing its loan collateral.

Blanket Lender Single Interest/Vendor Single Interest

Covers Uninsured Damage & Theft to the loan collateral, discovered after repossession of the vehicle or other consumer loan collateral. Also covers Skip by the borrower; and Security Interest Errors & Omissions that result in a loss of your right to repossess the collateral.

  • • No insurance follow-up required
  • • Small premium charge per new loan made( Charge added to Amount Financed Without Affecting APR in many states)
  • • Broad collateral coverage

Gap Insurance

A vehicle's value often declines much faster than a borrower's loan or lease balance. In the event that a borrower's car is wrecked or stolen and not recovered, the borrower is still responsible to pay off any outstanding balance of the financial contract. The primary insurance settlement may be several thousand dollars short of paying off the full Gap Insurance balance of the loan or lease. This deficient amount will be difficult for the lender or lessor to collect and is often charged off.

Gap insurance covers the difference between the net payoffs of a lease or loan and the amount of settlement made by the primary insurance carrier in the event a vehicle is deemed a total loss due to physical damage or un-recovered theft.

Gap insurance is good for the lender's bottom line because without gap, a deficiency balance is typically charged off. Gap also improves customer relationships by making the borrower whole and better able to obtain a replacement vehicle in the event of a total loss. This coverage is rated on a per vehicle basis.

Residual Value Insurance

 

A Residual Value Insurance (RVI) policy indemnifies the insured against loss that might occur if the sale proceeds of a properly maintained asset are less than the asset's insured value at a specific point in time RVI can be specifically tailored to meet client's numerous and diverse objectives.

This coverage has been designed specially for the financial institutions, leasing companies and equipment manufactures to insure a broad range of assets including: aircraft, vehicle, commercial equipment and real estate. The following are the most common utilization:

Asset Value Risk Management

Residual value insurance can be used to remove asset value risk from a lease or loan portfolio. The users of the application can range from financial institutions such as banks, insurance companies and commercial finance entities to equipment manufacturers who internally finance or guarantee the residual value of their products to third parties.

Financial Accounting Standards Board Statement No 13 (FASB-13)

Represents nominal risk and is used fir financial accounting purposes. Residual Value Insurance can be used to accelerate the growth of a leasing company's earnings and capital by allowing leases to be booked as Direct Financing lease rather than as Operating lease. This aggressive accounting practice allows the leasing company to realize the income generated over the entire term of the lease in the first year.

Securitization of Lease

Using residual value insurance, lease securitizations can be eliminated on the public and private markets by converting the residual value risk into a rated credit risk.

Reverse reequirement and Capital Allocation Management

With residual value insurance, residual value risk in a lease can be converted to a credit risk without losing the spread if its earning assets, This can allow regulated financial institutions to convert "open ended" asset risk into finite insured value risk which can carry a more favorable reserve requirement on a lender's statement.

Contingent Liability

Lessor's Contingent Liability

The Lessor and owner of a leased vehicle could be joined as an additional defendant in legal action if the lessee is involved in an accident and has failed to maintain insurance required by the terms and conditions of her/his lease. Contingent Liability insurance protects the interest of the lessor if, for reasons beyond their control or knowledge, the insurance provided by the lessee is not the insurance required by the lease agreement or is not present.

Example: $100,000 per person, $300,000 per occurrence, Bodily Injury, and $50,000 per occurrence, Property Damage($100/300/50)

Lessor's Only Excess Liability

As the registered owner of a vehicle, Lessor's Only Excess Liability will protect the lessor's interest over an above the lessee's primary liability of the lessor's contingent liability insurance.

This Owner Only Excess Liability policy protects the lessor, not only under the circumstance of the lessor's contingent liability claim, but also extends coverage in the circumstance that the lessee's insurance is present, but is not sufficient to handle a catastrophic incident.

It will also be excess liability coverage over the interim car policy.

Example: The difference to $1,000,000 CSL per occurrence

Interim Auto Coverage

"Interim Auto" means that at the time of accident or loss, an auto that you own and intend to lease to others an is not assigned to a lessee under a written lease agreement, or an auto returned to you after the expiration or early termination of such an agreement while held for sale of reassignment under a new written lease agreement. Interim Auto does not mean an auto you own that is assigned to a specific person, organization, company or employee for their day to day use.

Example: $100,000/$300,000/$50,000 Liability to include $2,500 deductible on both the comprehensive and collision with a maximum physical damage limit of $35,000 per vehicle.

Lessor's Contingent Physical Damage

As the owner of a leased vehicle, the lessor could face a financial loss if the leased car has physical damage loss and the lessee has failed to maintain the physical damage insurance required by the terms and conditions of her/his lease. Lessor's Contingent Physical Damage Insurance protects the lessor's interest in the vehicle if , for reasons beyond her/his control or knowledge, the lessee's insurance is not present.

Example: $1,000 deductible comprehensive/$1,000 deductible with a maximum limit of $35,000 per vehicle.

Warranty Programs and Product Enhancements

Inter Insurance Agency has successfully developed a number of new product enhancements and warranty programs relating to a variety of classes of products and services, including:

  • • Automobile Security
  • • Home Security
  • • Fuel Dealers
  • • Deductible Reimbursement

From automotive equipment and home appliances to dispensing machines and service contracts, we have structured several unique and cumulatively priced programs that have improved and enhanced consumer perceptions of these products. Consumer confidence increases with product purchases that have extended warranties. Whether your clients have exciting programs that they would like to restructure, or they want to create an entirely new product, we have the markets to develop their programs. If you have a client that is looking to explore this special area, please contact our programs and specialty division. We have the creativity and expertise to design your clients' program.

Excess Wear and Tear Program

The everyday use of a vehicle can cause deterioration and damage. At the end of a lease these unexpected problems can result in unexpected expenses. The Excess Wear and Tear Program protects you against the unknown by offering protection for your leased vehicle. This program offers coverage up to $2,500 for damages ranging from paint chips and scratches, to the catalytic converter, to interior stains and spotting. With this coverage you can increase the benefits and "worry free" advantages of automobile leasing by eliminating the cost of unforeseen wear and tear.

Coverages to Financial Institutions

Blanket Lender Single Interest/Vendor Single Interest

Covers Uninsured Damage & Theft to the loan collateral, discovered after repossession of the vehicle or other consumer loan collateral. Also, covers Skip by the borrower;and Security Interest Errors & Omissions that result in a loss of our right to repossess he collateral.

  • • No Insurance follow-up required
  • • Small premium charge per new loan made(Charge added to Amount Financed Without Affecting APR in many states)
  • • Broad Collateral Coverage
Gap Waiver Coverage

If a borrower's vehicle sustains a total loss due to an accident or theft, this insurance covers the difference between the net balance owned and the borrower's primary insurance settlement check(based on Actual Cash Value, often thousands less than the loan balance.)

  • • Covers the over-financing of the MSRP/Retail value
  • • Reimburses the borrower's deductible up to $1,000
  • • Offered directly to the borrower or sold through your dealers
Creditor-Placed Insurance(CPI) - For consumer loan collateral

Physical damage insurance coverage is placed on only the uninsured loan collateral (vehicle or other collateral) within the portfolio. Annual premium is added to the loan balance and collected from the borrower with interest.

  • • Pro-active approach to covering the risk of physical damage loss
  • • Computer system tracks the borrower's insurance status, relieving the lender of administrative burden and hassle.
  • • Increases profitability of the loan portfolio (Lower charge offs; Less administrative expense, and more interest income)
Write-Your-Own CPI

Creditor-placed insurance without system-generated policies.

  • • Lender retains control over when collateral coverage is placed or cancelled.
  • • Coverage requests are faxed in & effective that day.
Vehicle Service Contract Sales

Allows you to easily offer vehicle service contracts to your borrowers on a direct loan or off-lease vehicle. Extend coverage of mechanical failures.

  • • Software on your PC facilitates easy quoting
  • • A covered major repair often prevents repossession
  • • Contract sales generate significant fee income
Lease-Like(Balloon Note) Lending Program

Software and insurance combined to make balloon (lease-like) lending easy for a lender. Creates a competitive loan product that gives your borrowers a much lower monthly payment.

  • • Software calculates monthly payment & balloon amount
  • • At end of loan term, borrower can payoff balloon, refinance the amount due, or return the vehicle.
  • • Lender protected against residual value loss, gap loss, excess wear & tear, & vehicle disposition expenses.
Blanket Mortgage Hazard Insurance

With no insurance tracking required, this protects the Home Equity Lines, 2nd Mortgage Loans, and First Mortgage Loans against loss due to physical damage to the real estate property.

  • • No insurance tracking required - A time & cost saving
  • • Simple monthly or annual premium report
  • • High limits of loss Available
Lender-Placed Mortgage Hazard Coverage

The lending institution can place physical damage coverage on uninsured real estate properties(residential, commercial or REO)

  • • Simplified reporting of insurance placed/cancelled.
  • • Broad Physical Damage Coverage - Liability coverage option
  • • Fully-Automated outsourced tracking available
Mortgage Impairment Coverage

Broad blanket protection for a mortgage loan portfolio covering uninsured physical damage, errors & omissions related to insurance follow-up, and other loan servicing exposures.

  • • Coverage with or without insurance checking requirement.
  • • Optional balance or perils coverage & real estate tax liability
  • • Annual premium, or multi-year premium option
Insurance Tracking Only - All Type Of Loans/Leases

Outsourcing the complete insurance tracking function.

  • • No mail to sort or to input, less administrative burden & expense
  • • Complete reporting of uninsured properties/collateral
  • • Low monthly charge per loan tracked
Contingent & Excess Liability - Lease Vehicles

Protects a lessor who become liable for a loss caused by an accident involving one of its leased vehicle. This coverage applies over & above the lessee's primary policy or becomes contingent coverage when the vehicle lacks coverage.

  • • 'Vicarious Liability' Protection
  • • High limits of loss available; or Excess layer
  • • Annual Premium covers entire lease portfolio
Residual Value Insurance

Covers the residual value loss exposure on a leased asset/vehicle when it comes to the end of its lease term. This coverage can be written two ways: (1) FASB coverage: to gain a more favorable accounting treatment for the leased asset. (2) Full insurance: the asset's future value risk is completely transferred from the lessor to the insurer.

  • • Peace-of-mind knowing the future value of the vehicle is insured
  • • Vehicles easily enrolled for coverage by data file transfer
  • • Out-sourced vehicle re-marketing assistance available

Casualty - Contractors General Liability

Inter Insurance Agency specializes in providing primary liability coverage for commercial and high-end residential contractors. Our typical insured are homebuilders, project owners, residential and commercial general contractors in Northeast region. Our team of experienced casualty underwriters will work with you and take the time to understand and tailor policies to your business needs. Our preferred carries are "A" rated by A.M. Best and are establish holding companies that specialize in Owner and Contractors general liability coverage.

Our Contractors General Liability Coverage includes:

  • • Primary & Non-Contributory Liability for Contractors and Owners
  • • Commercial & General Liability Product & Completed Operations exposures
  • • Blanket Additional Insureds
  • • Per Project Aggregates
  • • Excess Liability Umbrella coverage