Intrepid Specialty Insurance Company is a new player in the insurance market, offering a range of products and services for businesses in various industries.
In this blog post, we will review the company’s history, basic information, services and products, financial details, coverage details, claims, and customer experiences.
Company Details
Intrepid Specialty Insurance Company was founded in November 2021 as a subsidiary of W. R.
The company is based in Urbandale, Iowa, and operates as a direct insurance provider, meaning that it does not use agents or brokers to sell its policies.
The company is licensed and admitted in 50 states and the District of Columbia, and has an A+ (Superior) rating from A.M. Best, a leading rating agency for the insurance industry.
The company’s market share and company size are not publicly available, but it is likely that it is still a small player compared to the established competitors in the insurance market.
Basic Information
| Category | Information |
|---|---|
| Phone Number | (800) 842-8917 |
| Address | 11201 Douglas Ave, Urbandale, IA 50322 |
| Customer Service Contact | jbriggs@nautilus-ins.com |
| Policy Details | Varies depending on the type of insurance and the industry |
| Email Address | info@intrepiddirect.com |
| Fax Number | (515) 276-0244 |
| Operating Hours | Monday-Friday, 8:00 AM – 5:00 PM (Central Time) |
Services and Products
Intrepid Specialty Insurance Company offers a variety of insurance products and services for businesses in different industries, such as:
- Restaurant Franchises: The company provides coverage for property, general liability, liquor liability, workers’ compensation, auto, umbrella, and cyber liability for restaurant franchises.
- Auto Aftermarket: The company provides coverage for property, general liability, garage liability, garagekeepers, workers’ compensation, auto, umbrella, and cyber liability for auto aftermarket businesses, such as auto repair shops, car washes, tire dealers, and towing services.
- Gyms and Fitness Studios: The company provides coverage for property, general liability, professional liability, workers’ compensation, auto, umbrella, and cyber liability for gyms and fitness studios, such as yoga studios, martial arts studios, and personal training studios.
- Last Mile Delivery: The company provides coverage for auto liability, physical damage, cargo, workers’ compensation, and umbrella for last mile delivery businesses, such as food delivery, grocery delivery, and courier services.
- Architects and Engineers: The company provides coverage for professional liability, general liability, workers’ compensation, auto, umbrella, and cyber liability for architects and engineers.
- Roofing Contractors: The company provides coverage for general liability, workers’ compensation, auto, umbrella, and cyber liability for roofing contractors.
Financial Details
The premium costs of Intrepid Specialty Insurance Company vary depending on the type of insurance, the industry, the location, the size, and the risk profile of the business.
The company claims that it can save up to 20% for its customers by cutting out the middleman and working directly with them.
Interpid also offers flexible payment options, such as monthly, quarterly, or annually.
The company also offers discounts and promotional offers for some of its products, such as:
- Multi-Policy Discount: A discount that applies when a customer purchases more than one policy from the company.
- Safety Discount: A discount that applies when a customer implements safety measures and practices in their business, such as installing fire sprinklers, conducting employee training, or using anti-theft devices.
- Loyalty Discount: A discount that applies when a customer renews their policy with the company.
The claim payout ratio of Intrepid Specialty Insurance Company is not publicly available, but it is likely that it is similar to the industry average, which is around 70%.
This means that for every $100 of premium collected, the company pays out $70 in claims.
Coverage Details
The policy exclusions of Intrepid Specialty Insurance Company depend on the type of insurance and the industry, but some of the common exclusions are:
- Intentional or fraudulent acts
- War or terrorism
- Nuclear or radioactive events
- Pollution or environmental damage
- Contractual liability
- Employment-related practices
- Professional services
The coverage limits of Intrepid Specialty Insurance Company also depend on the type of insurance and the industry, but some of the common limits are:
- Property: The maximum amount that the company will pay for the damage or loss of the insured property, such as buildings, equipment, inventory, or furniture.
- General Liability: The maximum amount that the company will pay for the bodily injury or property damage that the insured business causes to a third party, such as a customer, a vendor, or a passerby.
- Professional Liability: The maximum amount that the company will pay for the errors or omissions that the insured business makes in providing professional services, such as design, engineering, or consulting.
- Workers’ Compensation: The maximum amount that the company will pay for the medical expenses, lost wages, or death benefits of the employees who are injured or killed on the job.
- Auto: The maximum amount that the company will pay for the bodily injury or property damage that the insured vehicle causes to a third party, or for the damage or loss of the insured vehicle itself.
- Umbrella: The maximum amount that the company will pay for the excess liability that exceeds the limits of the underlying policies, such as general liability, professional liability, or auto.
- Cyber Liability: The maximum amount that the company will pay for the data breach or cyber attack that affects the insured business, such as the costs of notification, credit monitoring, legal fees, or fines.
Claims
The company provides online and phone options for reporting a claim, and assigns a dedicated claim representative for each claim.
The company also provides online access to the claim status and documents, and offers direct deposit for claim payments.
The required documents for claims vary depending on the type of insurance and the nature of the claim, but some of the common documents are:
- Policy number and contact information
- Date, time, and location of the incident
- Description and photos of the damage or loss
- Police report or fire department report, if applicable
- Estimates or invoices for the repair or replacement
- Medical records or bills, if applicable
- Witness statements or contact information, if applicable
The average claim approval time of Intrepid Specialty Insurance Company is not publicly available, but it is likely that it is faster than the industry average, which is around 30 days.
This is because the company works directly with its customers and does not involve any intermediaries in the claim process.
Customer Experiences
The customer reviews and ratings of Intrepid Specialty Insurance Company are not widely available, as the company is relatively new and has a small customer base.
However, based on the few reviews that we found online, the company seems to have a positive reputation among its customers.
FAQs:
How do I get a quote from Intrepid Specialty Insurance Company?
You can get a quote from Intrepid Specialty Insurance Company by visiting their website and filling out a short online form.
How do I pay for my policy from Intrepid Specialty Insurance Company?
You can pay for your policy from Intrepid Specialty Insurance Company by using a credit card, a debit card, or an electronic check.
How do I cancel or change my policy from Intrepid Specialty Insurance Company?
You can cancel or change your policy from Intrepid Specialty Insurance Company by contacting the customer service team and providing your policy number and the reason for the cancellation or change.
I’m Jose, a business enthusiast and an expert in the insurance field. As a graduate of Eastern University in Business Administration, I have gained significant knowledge insurance. Join me as we delve into everything you need to know about insurance.