Individual underwriting guidelines will vary by company, however, below is a general overview of the types of policies that we can write.
Dwelling Coverage
We can write up to $2.5M. Anything over $1M in dwelling coverage must be reviewed by the underwriter at the time of binding.
Age of Dwelling
No historical dwellings and the home is not eligible if built prior to 1900.
Business on Premise
Will be referred to underwriting. No foot traffic and incidental to residence may be accepted.
Construction Type
Log homes are ok if they are professionally built. Modular homes must be placed on a permanent foundation.
Course of Construction Coverage
New, ground up construction is acceptable, if the owner is not acting as the general contractor and the home will be completed and occupied within 1 year of the effective date.
Distance to Coast
Generally speaking our companies do not want anything within 5 miles of the coast. However, our underwriter will look at each risk on a case by case basis.
Lapse in Coverage
Must be approved by underwriting prior to quoting.
Prior Insurance
Required if there was a need. Not required if it is a new purchase.
Distance Between Dwellings
For homeowners, the risk must be more than 10 feet from the next adjacent dwelling not on the insured premise. For 3 & 4 family dwellings, the risk must be more than 25 feet for frame construction and more than 15 feet for masonry construction.
Electrical
Must be less than 25 years old. Not less than 100 amps. No Federal Pacific Electric Stab-Lok Electrical Panels and Circuit Breakers, no knob & tube, no aluminum wiring or fuses.
Foundation
Must be a solid, permanent foundation. No risks on pilings, stilts or blocks.
Property Inspections
Property inspections will be done by the company after binding for ALL new business policies.
Roof Age
Pitched roof must be less than 20 years old. Flat roofs must be less than 15 years old. Any roof older than 15 years will be referred to underwriting at the time of binding.
Swimming Pools
Must be fenced. If above ground, must have removeable steps or a locking gate. Depending on the company, slides and/or diving boards may be acceptable.
Vacant Homes
Not eligible. If newly purchased, insured/tenant must occupy the home within 30 days of the effective date.
Wood Stoves
Acceptable, if professionally installed.