NY independent
Expert
- 88
In NY, HO1 or 2 only (no HO3), ACV only, any wind/hail deductibles of 10%, liability limit cap of $100K with a $5k ded, warranties galore (locked house, heat on 55, no vacancies, CS alarm, no construction work, no electric cars allowed in garage), AOP deduct of $10K, underwritten for trees (wind knocks down trees into house), 10 year old roof or newer, one family only, etc. I'm not talking coastal here or those with prior claim history. Premiums for $475K coverage A with above terms is around $6K. The lenders are not going to like these. For those that don't know, HO markets are pretty much baron here (NY) these days. Most carriers are on a moratorium with several in runoff. Bad times......