Property Insurance Program: Summary of Protection

CFSA administers the Alliant Property Insurance Program for California’s fairs. This is commercial coverage and there’s no risk sharing or pooling. The Property Insurance Program protects all fair buildings located on your fairgrounds; your fair’s premium is based on your individual property values. There is a $50,000 all-risk deductible; flood deductibles vary starting at $100,000. Note: Participating fairs must maintain at least $100,000 in business personal property coverage.

Here’s a summary of the Property Insurance Program’s highlights:

Coverage Limits:

  • All-risk protection for buildings – $1,000,000,000 per occurrence, subject to the fair deductible.
  • Flood protection for buildings NOT located in a designated flood zone – $50,000,000 per occurrence/annual aggregate, subject to the fair deductible.
  • Flood protection for buildings located in a designated flood zone – $25,000,000 per occurrence, subject to the fair deductible.
  • All-risk protection resulting from acts of terrorism for buildings – $250,000,000 per occurrence, subject to the fair deductible.
  • Boiler and machinery coverage for covered objects at fairs -$100,000,000 per occurrence, subject to a deductible of $2,500 per loss.
  • Business personal property, contractors/mobile equipment and business interruption/rents coverages – limits selected by fairs and subject to a deductible of $50,000 per loss. (Business Interruptions/Rents covers loss of rental income if a covered building can’t be rented due to physical damage. The Rents portion of the coverage covers any loan payments on damaged property that can’t be rented out.)

Valuation basis: Actual replacement.
Protection period: 07/01/2016 to 07/01/2017.
Lead Policy Layer: Insurer – Lexington Insurance Company.
Boilers and Machinery: Insurer – Lexington Insurance Company.
Earthquake Coverage: None.

If you have questions about this program and what it does or does not cover, please contact Tom Amberson at tamberson@cfsa.org or (916) 263-6180, or Lianne Lewellen at llewellen@cfsa.org or (916) 263-6145.