Wilshire Insurance Company

Transcription

1 Wilshire Insurance Company ARIZONA MOBILE HOMEOWNERS (HO-3) PROGRAM OWNER OCCUPIED AND SEASONAL PROGRAM P. O. Box Phoenix, AZ (602) FAX: (602) EFFECTIVE 3/1/2004 New Business 5/1/2004 Renewal Business Revised 8/1/03

2 NOTES 2

3 TERRITORY DEFINITIONS Territory 1 The entire state of Arizona is one territory. MOBILE HOME VALUATION When determining mobile home value use REPLACEMENT COST VALUE. The HO-3 policy is a replacement cost policy and contains an 80% coinsurance clause. BINDING AUTHORITY For coverage to begin as requested, the application must be fully completed, signed and mailed within 72 hours of the requested effective date. Otherwise coverage is bound 12:01 A.M. the day received by our General Agent. Submit risks, as defined in the Underwriting Guidelines, should be sent to our General Agent, clearly indicating coverage is not bound. If found acceptable, effective date of coverage will be the requested date, if mailed within 72 hours of this date or 12:01 A.M. the day coverage is deemed acceptable. TEMPORARY SUSPENSION OF BINDING AUTHORITY When impending severe weather conditions, disaterous events (natural or man made) or civil unrest exist in a given area, do not accept: 1. Applications for new coverage. 2. Increased limits on existing Wilshire policies. 3. Renewals requesting increased limits on existing Wilshire policies. ENDORSEMENT RULES 1. All changes requiring adjustment of premium shall be computed on a pro rate basis. 2. If an outstanding policy is amended and results in a premium adjustment of less than $5.00, the adjustment may be waived unless the insured requests the return premium. 3

4 UNDERWRITING GUIDELINES PHOTOS REQUIRED (FRONT & BACK) ON ALL MOBILE HOMES OVER 15 YEARS GENERAL UNDERWRITING 1. The Mobile Home and premises must be well maintained with no evidence of poor upkeep. 2. Attached structures must be added to the value of the mobile home and rated accordingly. 3. Unattached structures must be listed, described and rated according to the listed rates for Other Structures valued above package limits. 4. Mobile homes must be insured to 100% of value. 5. Satellite dishes and related equipment outside the mobile home are covered under radio and antenna cover age. This coverage should be increased to allow for the value of this equipment. See Optional Coverages. 6. Mobile Home must be located in an adult mobile home park with 25 or more mobile homes. An adult park must have at least 80% of the park residents age 50 or older. 7. THIS POLICY EXCLUDES ALL COVERAGES FOR BODILY INJURY AND/OR PROPERTY DAMAGE CAUSED BY ANY ANIMAL IN YOUR OWNERSHIP, MAINTENANCE OR CUSTODY SUBMIT - DO NOT BIND 1. Personal Property valued above 75% of the value of the mobile home. A personal property inventory should accompany the application. 2. Individual Other Structures that exceed $10,000, submit with photo. 3. Mobile Home coverage request for greater than $75,000. Attach photo. 4. Mobile Homes with more than two mortgagees, individual or dealer as a mortgagee. No Secured Interest Protection if dealer or individual as lienholder. 5. Mobile Homes with swimming pools. Attach photo of pool area. Pool must be completely enclosed by a four foot high fence with a locked gate. Liability coverage will not be increased above the package limit. 6. Auxiliary Heating Devices or Woodstove Complete woodburning stove inspection report and submit with photos showing the stove and flue exit. Requirement for all units except those originally installed by the manufacturer. Kerosene heaters or Space heaters are not acceptable. 7. Insured with two or more losses in the past 5 years. Submit with loss details. (Date of loss, cause, amount of loss) 8. Scheduled Personal Property All items must be submitted with current appraisal or bill of sale. Coverage is not bound until approved. Maximum limit is $10,000, all classes combined. 9. Rental policies with more than 10 units. RISKS NOT ACCEPTABLE 1. Vacant, custom or homemade units. 2. Applicants not gainfully employed. (Retired insured ACCEPTABLE) 3. Mobile Home where business is conducted on the premises. 4. Mobile Home with additions that are not professionally constructed of proper quality materials. 5. Applicants that have had any fire, theft, flood or liability loss in the past 3 years. 6. Liability coverage on mobile homes located on working farms. 7. Mobile Homes located within 1000 feet from any river or flood zone. 8. Mobile Homes without utility service. 9. Mobile Homes on raised poles or pilings. 10. Mobile Homes on a dealer s lot. 11. Mobile Homes with wood or coal burning stoves, heaters, or fireplaces that are the primary source of heat. 12. Mobile Homes located in areas at risk for unusual exposure hazards. Including but not limited to brush fires, snow and/or mudslides, flooding and/or severe wind. 13. Barns used to house or feed animals. 14. Liability coverage if a trampoline is on the premises 15. Travel trailers unless permanently located, wheels removed, tied down and skirted. 16. Singlewide mobile homes joined together without a common roof. 17. Mobile Homes that have been totally enclosed or substantially modified. 18. Applicants or spouse that have had a bankruptcy, repossession, foreclosure, judgement, multiple bad debts or charge offs in the past 4 years and/or are delinquent in current mortgage payments. 4

5 DEFINITIONS MOBILE HOMEOWNERS (HO-3) PROGRAM This program is designed for mobile homes that are under 25 years old and located in an adult mobile home park with 25 or more mobile homes. An adult park must have at least 80% of the park residents age 50 or older. All criteria listed on Page 4 of this Rate Guide must be met to be eligible for this program. PROTECTED Mobile Home is located in a mobile home park, community or subdivision of 25 or more spaces or in protection class 1 8. UNPROTECTED Mobile Homes that do not meet the definition of protected. PRIMARY RESIDENCE Owner occupied, used for year-round residence. Must be the owner s principal residence for at least 5 consecutive months during the year. MOBILE HOME AND ATTACHED STRUCTURES The definition of mobile home includes other structures attached to the mobile home including awnings, carports, fences, porches, decks, add-on rooms and garages. Add the value of these attached structures to that of the mobile home. OTHER STRUCTURES Other structures are structures located on the premises that are not attached to the mobile home. Examples include utility sheds, pump houses and unattached garages. Structures attached to the mobile home by only a fence, utility line or similar connection are also other structures. CREDITS AND SURCHARGES AGE OF INSURED CREDIT A 5% credit will apply if the insured is age 50 or older. PRIVATE FIRE DEPARTMENT CREDIT A 1% credit will apply if the mobile home is located in an incorporated city or town that utilizes the services of a private fire department. SUPPLEMENTAL HEATING SURCHARGE A surcharge of $30.00 will apply to a mobile home equipped with a wood or coal burning stoves or heaters used for supplemental heat. RENEWAL SURCHARGE - For any renewing mobile home reaching it s 25th year in age, a surcharge of 10 % will apply. MINIMUM PREMIUM RULE A minimum written premium of $100 and a minimum earned premium of $50 will apply to all policies. INSTALLMENT BILLING RULE A fully earned Premium Installment Charge of $5.00 will be assessed on each installment for all insureds electing to pay on an installment basis. 5

6 ENTIRE STATE NON-STRUCTURAL HAIL DAMAGE, MOLD AND EARTHQUAKE COVERAGE EXCLUDED Package Program for Owner Occupied Primary and Seasonal Mobile Homes Package Includes: 50% Personal Property Coverage 10% Other Structure Coverage 20% Loss of Use Coverage $100,000 Personal Liability Coverage $1,000 Medical Payments To Others Coverage Flood Coverage Replacement Cost - Mobile Home Replacement Cost - Personal Property $250 Deductible - See Pg. 7 for Deductible Options and Credits. Age of Insured Credit 5% Private Fire Department Credit 1% Supplemental Heating Surcharge + $30 $10 Policy Fee Amount 25 Years Old & Newer Over 25 Years Old of Insurance Protected Protected $25,000 $202 $222 $26,000 $206 $226 $27,000 $209 $230 $28,000 $213 $234 $29,000 $216 $238 $30,000 $220 $242 $31,000 $225 $248 $32,000 $230 $253 $33,000 $235 $259 $34,000 $240 $264 $35,000 $245 $270 $36,000 $250 $275 $37,000 $256 $281 $38,000 $261 $286 $39,000 $266 $292 $40,000 $271 $297 $41,000 $275 $302 $42,000 $279 $306 $43,000 $283 $311 $44,000 $287 $315 $45,000 $291 $320 $46,000 $295 $324 $47,000 $299 $329 $48,000 $303 $333 $49,000 $307 $337 $50,000 $311 $342 $51,000 $315 $347 $52,000 $320 $352 $53,000 $325 $358 $54,000 $329 $363 $55,000 $334 $368 $56,000 $339 $373 $57,000 $343 $378 $58,000 $348 $384 $59,000 $353 $389 $60,000 $357 $394 $61,000 $363 $400 $62,000 $368 $406 $63,000 $374 $412 $64,000 $379 $418 $65,000 $385 $423 $66,000 $390 $429 $67,000 $395 $435 $68,000 $401 $441 $69,000 $406 $447 $70,000 $412 $453 Add'l Rate Per $1,000 $5 $6 6

7 Personal Liability Coverage OPTIONAL COVERAGE Medical Payments To Others Limit of Liability $100,000 - Included $300,000 - Add $18.00 $1,000 - Included $2,500 - Add $30.00 $5,000 - Add $75.00 $10,000 - Submit Additional Limits Coverage B Other Structures (per $100 of coverage) 25 Years Old & Newer $.40 Over 25 Years Old $.44 Additional Limits Coverage C Personal Property (per $100 of coverage) 25 Years Old & Newer $.25 Over 25 Years Old $.28 Deductible $250 $500 $1,000 Deductible Options Credit Included 10% - Maximum $35 15% - Maximum $50 Water/Theft/Wind $500 $500 $1000 Replacement Cost Coverage Personal Property Included To Delete Credit $.30 per $100 of Coverage Flood Coverage Included To Delete Credit $25.00 Earth Movement Coverage Premium: $.70 per $1,000 of Coverage Deductible: 2% (subject to $250 minimum) Golf Cart Coverage Premium: $35 Inflation Guard Premium: $5.00 5% pro-rated increase See Page 8 for Additional Optional Coverage 7

8 ADDITIONAL OPTIONAL COVERAGE Scheduled Personal Property Coverage Class Rate Per $100 of Coverage Jewelry $1.80 first $5,000 $2.50 for $5,001 to $10,000 Furs $1.00 Fine Art, Cameras, Antiques $2.00 Musical Instruments $2.00 Mobile (guitar, violins, horns, etc.) $.25 Immobile (pianos, organs, etc.) Silverware $.60 Submit unbound with appraisal or bill of sale. Not available on Seasonal Mobile Home Risks. Minimum premium of $25 applies. Maximum limit of $10,000 on all scheduled property with a $5,000 limit per item. Transportation/Permission to Move (fully earned) Premium: $20.00 $250 Deductible - This is a 30-day coverage and premium is fully earned. Mobile Home Lienholder s Single Interest $15.00 Cash Out Loss Settlement for Total Loss $20.00 Increased Special Limits for Unscheduled Jewelry The $1,000 policy limit may be increased to a maximum of $2,000, but not exceeding $1,000 on any one item. Premium: $15.00 Watercraft Liability Limit of Liability $50,000/$500 $100,000/$500 $300,000/$ HP $12 $17 $25 Outboard Boats 50 & Over HP $15 $27 $34 Under 30 MPH $20 $40 $60 Inboard & Inboard/Outboard MHP $33 $66 $99 Additional Residence Premises Liability Limit of Liability $100,000/$1,000 Occupied by Insured $21 1 Family $37 Rented to Others 2 Family $48 $300,000/$1,000 $30 $46 $57 $500,000*/$1,000 $55 $68 $79 *only available if insured has umbrella coverage Premium is per residence. Limit of Liability must match Personal Liability Limits Radio & Television Antenna Coverage $50.00 per $1,000 (Maximum $5,000) Includes Satellite Dishes and all Interior and Exterior Auxiliary Equipment 8