ISO’s first major change to the Homeowners’ program has been filed. These changes are scheduled to take effect beginning March of 2022. Although this sounds like a long time from now, the time will go quickly. Review the coming changes now and print this for future reference.
An agent asks: We hired a new personal lines manager and realized we never developed any homeowners’ charts; do you have any you can share?
An agent asks: Are pets Covered under a homeowners’ policy?
How can a policy generating about $75 in revenue cost you $5,000, $10,000, or more? Believing that writing an HO-6 is quick and easy is the beginning of an E&O storm that can cost you thousands (your E&O deductible).
Does having friends over during a state-mandated stay-at-home order create any insurance issues regarding COVID-19? What about when it’s over? These sound like weird questions. As weird as the questions sounds, the answer may be weirder.
An often asked question is, “Which is more appropriate when writing a townhouse within a homeowners’ association that purportedly provides the real property coverage for the entire building?” This is a really good question because in these situations, the agent must choose between the HO-3 and the HO-6.
Halloween pranks can cause injury or damage. Even if no pranks are pulled, a trick-or-treater could suffer injury on the insured’s premises. What should we tell our clients about Halloween and the little candy beggars showing up at their door?
A concept as common as the application of a “property deductible” is rarely taught or even considered, it is simply “understood.” The problem is we tend towards the belief that everyone “understands” the application of a property deductible the same way. They don’t.
Carriers seem to believe that a property loss must be discovered within 180 days of the event causing the damage for the policy to respond on a replacement cost basis; even some agents believe this. Well, it just isn’t true. Find out why.
A house exploded in Charlotte, NC. Rumors of a meth lab began to swirl leading to an analysis of the HO policy to answer the question, does the insurance carrier owe anything if damage was the result of a meth lab?
