Homeowners Package Policy Guidelines

Transcription

1 Homeowners Package Policy Guidelines State of Georgia

2 AVAILABLE LIMITS: Minimum Maximum Homeowner Package Policy (HO-3, HO-8) Dwelling (Coverage A) $5,000 Submit if over Binding Authority Adjacent Structures (Coverage B) **10% **200% Unscheduled Personal Property (Coverage C) **50% **100% Loss of Use (Coverage D) **10% **20% Tenant Homeowners (HO-4): Dwelling (Coverage A) Not Available Not Available Adjacent Structures (Coverage B) Not Available Not Available Unscheduled Personal Property (Coverage C) $5,000. Submit if over Binding Authority Loss of Use (Coverage D) ***10% ***100% Unit-Owners Homeowners (HO-6): Dwelling (Coverage A) * $1,000. Submit if over Binding Authority Adjacent Structures (Coverage B) Not Available Not Available Unscheduled Personal Property (Coverage C) $5,000. Submit if over Binding Authority Loss of Use (Coverage D) ***10% ***100% Loss Assessment $1,000. $25,000. All Policy Options: Liability (Coverage E) $ 25,000 Submit if over Binding Authority Medical Payments to Others (Coverage F) $500 $5,000 * Building Coverage is limited, please refer to. ** (Based on limit of liability requested for Coverage A) *** (Based on limit of liability requested for Coverage C) R-1 SIC (02-06)

3 PROGRAM OPTIONS AVAILABLE: Program: Homeowners Package Coverages Available: Buildings Personal Property Surcharge/Credit Base Rates HO NP/FRC NP/ACV +5% HO with HO NP/ACV NP/ACV Use Base Rates HO HO w/ho & HO NP/FRC NP/RC +10% NP/ACV NP/RC +4% HO DPL/RC NP/ACV +25% HO DPL/ACV NP/ACV +20% With HO HO DPL/RC NP/RC +30% HO w/ho & HO DPL/ACV NP/RC +23% Program: Tenant Homeowners Coverages Available: Buildings Personal Property Surcharge/Credit Base Rates HO No Coverage BF/ACV +20% HO No Coverage BF/RC +30% Program: Unit-Owners Homeowners Coverages Available: Buildings * Personal Property BF/RC BF/ACV +5% BF/ACV BF/ACV Use Base Rates With HO DPL/RC BF/ACV +15% With HO BF/RC BF/RC +10% DPL/RC BF/RC +20% w/ho & HO w/ho & HO BF/ACV BF/RC +7% * Building Coverage is limited, please refer to. NP = Named Perils Only BF = Broadform DPL = All "Direct Physical Loss" to Property ACV = Actual Cash Value R/C = Replacement Cost FRC = Functional Replacement Cost Please refer to Coverage Form for specific Definitions, Conditions, Exceptions and Exclusions. All conflicts in Definitions or Coverages offered will default to the Coverage Form attached to the policy. R-2 SIC (02-06)

4 HOMEOWNER PACKAGE PROGRAM RATING SPECIFICATIONS/STATE EXCEPTIONS Scottsdale Insurance Company will provide Homeowner coverages for owner occupied one or two family residences. Coverage is written utilizing ISO Homeowner forms. STATE EXCEPTIONS: INCREASED LIMITS & RATES: In addition to the basic coverages, the following increases are available when the premium indicated is charged: I. Adjacent Structures - To increase above the 10% included (Per $1,000 of additional coverage requested): Territory A $3.90 $4.50 Territory B $4.50 $5.25 Seacoast $4.95 $5.75 Territory D $5.70 $6.60 II. Personal Property - To increase above the 50% included (Per $1,000 of additional coverage requested): Territory A $2.90 $3.50 Territory B $3.50 $4.25 Seacoast $3.95 $4.75 Territory D $4.55 $5.45 III. Loss of Use - To increase limits over the 10% included (per $1,000 of additional coverage): Entire State $2.00 $3.00 IV. Unit-Owners Building Coverage - To increase limits over the $1,000 included (Per $1,000 of additional coverage requested): Entire State $2.00 $3.00 $500,000 $119 $1,000,000 Please Submit To include Secondary/Additional Residence Rented to Others, use HOS-44s and add the following additional premium to Personal Liability for each additional location: Liability Limit 1-2 Family 3-4 Family $25,000 $71 $107 $50,000 $79 $119 $100,000 $87 $131 $200,000 $103 $155 $300,000 $119 $179 $400,000 $139 $208 $500,000 $158 $236 $1,000,000 Please Submit Please Submit VII. Personal Medical Payments/Medical Payments to Others - Liability Limit Premium $500 Included $1,000 Add $28. Each Additional $1,000. Add $5. Maximum available limits are $5,000. VIII. Theft/Burglary Theft coverage is limited to burglary where visible signs of forced entry are evident. Mysterious disappearance is not covered. HO Attach form HOS-49. V. Loss Assessment Increased Limits ( only) - To increase limits over the $1,000 included (Per $1,000 of additional coverage requested): Entire State $2.00 $3.00 VI. Personal Liability - To increase above the $25,000 included: Liability Limit Premium $50,000 $56 $100,000 $63 $200,000 $70 $300,000 $79 $400,000 $99 04/25/07 R-3 SIC (02-06)

5 OPTIONAL COVERAGES: I. In-Home Day Care - Coverage is available for a maximum of 5 children. In-Home Day Care liability limit must match the Personal Liability limit. Sexual and/or physical abuse limit of $25,000 is included, with no option to increase. Additional premiums are applied on a Per Child basis. If Personal Liability Limit is: Liability Limit Premium (Per Child) $ 25,000 $36 $ 50,000 $39 $100,000 $43 $200,000 $50 $300,000 $58 $400,000 $61 $500,000 $64 NOTE: These premiums are separate from the Personal Liability increase premiums shown in section VI. II. In Home Business - Refer to In Home Supplemental Coverage Guidelines or the Company Underwriter for availability. III. Inland Marine Refer to Inland Marine Supplemental Coverage Guidelines. IV. Secondary/Seasonal Property rates are to be surcharged 20%. Submit for approval. V. Extended Replacement Cost Amount Surcharge 125% 10% Complete and attach form HO Coverage is only available with form HO Building must be 50 years old or newer to qualify for coverage. Home must be insured to 100% replacement cost and an inspection is required. VI. Water Backup and Sump Discharge or Overflow (providing there are no prior water losses) Limit Premium $5,000 $100 $10,000 $150 $25,000 $250 Complete and attach form HOS-88. Coverage is only available with form HO Deductible must be equal to or greater than policy AOP deductible. VII. Identify Fraud Expense Coverage Limit Premium $15,000 $25 Attach form HOS-87s. Coverage is available on all homeowner coverage forms. $250 deductible. Subject to no prior identity theft losses. DEDUCTIBLE OPTIONS: A minimum deductible of $500 is required on all Homeowner policies. Optional Deductibles: Deductible Credit $1,000 5% $2,500 10% INSPECTIONS & PHOTOS Required on ALL new business and at every third renewal. UPDATES All update requirements must be met. Completed updating information must accompany all applications. HO-8 Wiring, roof & heating must be fully updated within 30 years. HO-3 Wiring, roof, heating & plumbing must be fully updated within 30 years. WIND/HAIL GUIDELINES: Within 2,000 feet of *coastal waters - Exclude Wind & Hail and Attach HOS-13 - Apply 20% credit feet to 2.5 miles of *coastal waters - Apply 2% Wind & Hail deductible - Attach HOS-12. If more than 2.5 miles inland, the following new wind guideline applies: For all new and renewal business statewide : If any wind or hail losses within the past 3 years, apply $1000 mandatory wind and hail deductible. Attach form UTS-251 (5-96). *Coastal waters - includes open salt water (ocean), bays & inlets OR if located on an island. MINIMUM PREMIUM: The Company requires a minimum premium of $500, excluding taxes and fees, be applied to all policies. ACREAGE 0 5 Acres: INCLUDED 6 to 25 Acres: $2.50 Per Acre or $25.00 R-4 SIC (02-06)

6 (Whichever is Greater) Submit over 25 Acres WOODSTOVE SURCHARGE: If the residence has any type of wood, kerosene or Coal burning facility: Surcharge an additional $35.00 MINIMUM EARNED PREMIUM: Use of a 25% minimum earned premium is required. A higher minimum earned premium may be required by the Company POLICY FEE: A $25.00 policy fee shall be applied to each policy. R-5 SIC (02-06)

7 HOMEOWNER FORMS SEASONAL / SECONDARY HOMEOWNER GUIDELINES Underwriting Guidelines - (In addition to the state Homeowner Guidelines) HO-8, HO-3, HO-6 eligible Must be located in Protection Class 1-8 Minimum Deductible $1,000 (no credit) Surcharge base premium 20% Regular monitoring or caretaker required Owner occupied only Submit: Coverage A values below $75,000 Do not attach UTS-32g TERRITORIES: County: Territory A - Remainder of State Territory B Bibb, Clayton, Cobb, DeKalb, Gwinett and Jones Territory C - Seacoast - Bryan Camden Chatham Glynn Liberty McIntoch This Includes All Islands Territory D Fulton County 04/25/07 R-6 SIC (02-06)