Colonial Lloyds TEXAS HOMEOWNER POLICY FORM A UNDERWRITING GUIDELINES

Transcription

1 01/22/2007 Colonial Lloyds TEXAS HOMEOWNER POLICY FORM A UNDERWRITING GUIDELINES PROPERTY LIMITS: (1) DWELLING Minimum $ 25,000 Maximum $350,000 (2) CONTENTS Maximum without Replacement Cost 40% of Dwelling Maximum with Replacement Cost 60% of Dwelling (3) LIABILITY LIMITS Maximum $300,000 Medical Payments $ 5,000 (4) DEDUCTIBLE Minimum 1% Discount for Higher Deductibles (5) HO-160 Scheduled Personal Property $10,000 Per Property Classification (6) Minimum Premium $150 plus policy and/or Inspection fees Credits cannot reduce premium below $150 1

2 ACCEPTABLE RISK (1) Dwelling must be Owner Occupied (2) Secondary Dwelling (Cannot be used for rental) (3) Property must show Pride of Ownership and be well maintained UNACCEPTABLE RISK (1) Vacant Property (2) Property with any type of business on the premises, including farming (3) Commercial Risk, or property converted to private dwelling (4) Apartment Houses (5) Trampolines- May have with signed exclusion (6) Swimming Pool (unless completely surrounded by at least a five foot locked, gated fence and does not have a diving board and/or slide). (7) Asbestos Siding (8) Unprotected property not visible from another dwelling (9) In Foreclosure (10) Aluminum Wiring (11) Primary Source of Heat: Fireplace Space Heater with open flame Wood Burning Stove (12) Exotic, Vicious Animals, Livestock/Horses: Pit Bulls, Chows, Dobermans, Rottweilers, German Shepherds, and other breeds developed for aggressive behavior Application must include species, breed, and weight of dog over 30 pounds May sign animal exclusion to bypass the restriction 2

3 (13) ROOFS: (D) (E) (F) Roofs over 15 years in age More than Two layers-(2 Layers Max.)- No Comp over wood Slate Wood Shingles Tile Metal that are considered high value I.E., Alco Rustic CLAIMS HISTORY Applicants with the following claims history are UNACCEPTABLE RISKS: (1) History of habitual claims filing (2) If applicant has ever had insurance cancelled due to claims or moral hazard A risk with claims must have the HO-330 Premium Surcharge Endorsement attached in accordance with the requirements of the State of Texas Natural Causes would be Catastrophe Losses recognized by the State of Texas AGE OF DWELLING (1) Property that is 50 years or older must be approved by Preferred General Agency (2) Older Home Questionnaire must be completed and attached to application. WINDSTORM EXCLUSION (1) Property located in Tier One are ACCEPTABLE RISK only if Windstorm Coverage is Excluded (2) Application must have signed HO-140 Windstorm, Hurricane, and Hail Exclusion Agreement form Attached. (G) RESTRICTED RISK (MUST BE APPROVED BY PREFERRED GENERAL AGENCY) (1) Properties in the following areas must be approved before binding 3

4 ZIP CODE CITY PORTIONS Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Houston All Pasadena All Pasadena All Pasadena All Pasadena All Pasadena All Pasadena All Baytown Harris County Baytown S I-10 inside Harris County Deer Park All Friendswood Harris County La Porte West of Highway El Lago West of Highway South Houston All Webster All 4

5 MOBILE HOME FORM A UNDERWRITING GUIDELINES PROPERTY LIMITS: (6) DWELLING Minimum $ 25,000 Maximum $ 100,000 (7) LIABILITY LIMITS Maximum $100,000 Medical Payments $ 1,000 (3) DEDUCTIBLE Minimum 1% (4) PREMIUM Minimum Premium is $150 plus policy and/or Inspection Fees Credits cannot reduce premium below $150 (5) REPLACEMENT COST Dwelling only Dwelling must be less than 8 years old PROPERTY MUST BE: (1) Constructed after 1980 (2) Tied Down/Properly Secured (3) Skirted Front and Back or Continuous Foundation (4) Owner Occupied ENDORSEMENTS (1) CLA-DW-1201 Replacement Cost Settlement Endorsement- Dwelling must be less than 8 years old (2) CLA-PP-1201 Replacement Cost Settlement Endorsement- Personal Property Not Available (3) CPL Comprehensive Personal Liability (4) CHA Additional Perils & Limited Water Damage- $5,000 Maximum Meets All Other Guidelines for Texas Homeowner Policy, Form A 5

6 PREFERRED HO-A/HO-A Plus Colonial Lloyds is offering a 25% Preferred Discount for HO-A s in addition to our usual applicable credits, up to 45% total credits (25% Preferred credit + 20% existing discounts). The 25% discount applies to Homeowners A policies that meet existing HO-A guidelines, plus the following: Coverage A Limits of $100,000 and above Protection Class 1-6 Dwelling cannot be over 25 years old Roof cannot be over 12 years old Dead bolt locks and fire extinguisher required No Mobile or Modular Homes If the risk qualifies for this program, you must select the Preferred Discount box located in the discount section of the rating program. HO-A Plus HO-A Plus is available by adding the Limited Water/Additional Perils endorsement in the endorsement section. Look for Endorsement CHW Additional Perils. Perils covered include the following: Limited Water Coverage Fall of trees or limbs, including felling, topping or trimming Objects falling from the weight of ice, snow, or sleet Collapse of building or any part of building Breakage of glass. Glass which is part of the building. Contact your underwriter for any questions you may have. 6

7 PGA Notes and Rater Tips HO-A Replacement Cost Values- Frame= $60.00 per square foot and Brick Veneer = $70.00 per square foot. These values may be reduced no more than 20% down due to the quality of construction. Townhomes- Must have firewalls and they must extend through the roof to create a separate roof section. No shared roof. Discounts- See rater for details Senior Citizen Discount- Age 60 and above New Home Discount- Homes 5 years old or less Burglar Alarm Credits- Must have a copy of in force contract at inception of policy and at renewal. Roof Credits- We must have the Roofing Installation and Certification provided to the insured by the installer. We must also have the HO-145- Exclusion of Cosmetic Damages to Roof Coverings Caused by Hail signed on all metal roofs, please contact us if you need this form. Additional Perils Coverages 4-Levels- $5,000 $10,000 $15,000 $25,000 Coverages Included: Limited Water Coverage Glass Breakage Collapse of Building Falling of Trees Objects falling from ice, snow or sleet Must have a signed Mold Form with every application 7