For the Pros--Help Please

[Guest]

I agree with the person that said you are going to have to charge an upfront fee. Besides, that is A LOT of work for you and your staff so don't be afraid to charge him.

In my state, you can't charge a fee unless it's with a E&S carrier.

 

[Scottyj]

there is a "ONE SHOT" program and a few others through BTIS that could work. They start off as a builders risk but then can be converted to a home owners...

 

[JCK818]

I agree with the person that said you are going to have to charge an upfront fee. Besides, that is A LOT of work for you and your staff so don't be afraid to charge him.

Never afraid to charge! lol

 

[Guest]

Renovating does not pose a coverage issue with a standard form DP3 unless the carrier restricts the standard form to underwrite the risk. If a dwelling is undergoing construction of an addition during renovation a builder's risk policy, in lieu of, a DP3 should be issued however, separate liability coverage would have to be obtained.

A commercial blanket policy is ideal as it avoids the hassel of multiple policies and gaps in coverage. Also, a single blanket policy simplifies securing umbrella or excess liability coverage. Unfortunately, converting this insurance program from personal lines to commercial lines results in a higher premium.

Good luck!

 

[JCK818]

We actually got a great program through Burns & Wilcox. Their package blanket policy was far superior with others we had found. Thank you all for your suggestions.

 

[FLInsa]

What your client needs is a Master Policy with language that supports his or her activities. These policies are done everyday (especially now since many investors are purchasing distressed properties).

 

[JCK818]

HE didn't want to do the master policy yet, he's trying us out. Looks like we are moving in that direction though. By the way guys, Burns & Wilcox blew everyone out of the water with their pricing on this.

 

[Soaringagent]

Is it easy to add locations with Burns and Wilcox or do you have to write a new policy for each location?

 

[JCK818]

once you do the master policy (it's like an umbrella), it's very easy to add and drop individual policies. They even do 6 month term, which is great.