Need source for older homes with asbestos siding.

[peewee]

I have researched almost ever carrier I can find and no one writes homes with asbestos siding. So where are they are being insured I must ask since we have a lot of homes built in the 50's and 60's with it.

 

[Allen Trent]

Likely insured by the states last resort insurance programs. Or, maybe some carriers will allow it to be insured on a repair cost/ACV policy. Or, maybe on a DP policy instead of a standard HO

 

[Markthebroker]

It's been over five years since I've written a personal policy, but I remember back when I used to write personal I was able to find carriers that just didn't ask certain questions in the application. There were certain things that certain carrier didn't even ask, so it was okay to write it with them.

It was Nationwide, now that I think about it. They didn't care that the house was still on galvanized plumbing.

Come to think about it a couple of years ago I wrote a commercial auto policy for a a guy that was transporting firearms. Nationwide didn't have an issue for it because it wasn't even a question to ask on the form. I made sure to get it in writing from them that it was okay.

I don't know how helpful this is, but food for thought at least.

 

[peewee]

I don't think ignoring an issue is a good field underwriting practice - for one when the 3rd party inspection is done and almost all submissions are inspected - it will get caught then and it will get setup to cancel. Not a good experience for the customer, a time waster for the agent, and fraud. If it doesn't get caught a claim could get denied leading to an E&O Claim so my view is do it right or just don't write it - walk away. There's enough legit business without resorting to cheating and enough agents survive on cheating as it is.

 

[shonceman]

I don't think ignoring an issue is a good field underwriting practice - for one when the 3rd party inspection is done and almost all submissions are inspected - it will get caught then and it will get setup to cancel. Not a good experience for the customer, a time waster for the agent, and fraud. If it doesn't get caught a claim could get denied leading to an E&O Claim so my view is do it right or just don't write it - walk away. There's enough legit business without resorting to cheating and enough agents survive on cheating as it is.

Don’t think either responder suggested cheating. @Markthebroker even said he got the firearms transport ok’d in writing before submission, even though they don’t ask. So, where did you see cheating suggested?

 

[peewee]

shonceman - I've never completed an application for a homeowner's policy that it didn't ask what the exterior was - if you answer asbestos siding and they don't accept those risks and most don't, then it's a no go to get issued. So if/when you put anything else to get it issued - that is cheating. On the transporting firearms - as the agent you are the field underwriter and you know when to ask if a risk of unusual dimension calls for another supplement application as anyone "should" realize when transporting unusual cargo. Non-disclosure is the cheating. It is your/our obligation to disclose known facts pertaining to any risk we submit. If the person transporting got approval in writing beforehand then that's not even what the thread has been discussing and a non-issue.