One Owner 2 Houses

[bill777]

Bill,

I mean absolutely no offense, but you have got to learn the products you are selling and why your customers need each coverage etc. Take some training courses, most of our carriers in Florida, offer training courses on their products, but more importantly they offer training on the different policy forms.

As to your question, You don't want to insure them on the same policy, you want two separate policies. IF they are on the same parcel, you still want two separate policies. I've heard so many agents telling their customers that yo ucan insure the second home under Cov. B. This is a TERRIBLE idea. Most of our carriers down here, only offer basic peril coverage on other structures, not special, thus they need their own policy. This can become an issue so you need to contact your underwriter with this question specifically, but one company in particular, Southern Fidelity, will allow you to write two separate homes on the same parcel, but you must exclude liability on one of them.

Again no offense at all, but by your questions you desparately need proper training.

Feel free to shoot me a PM if you have any particular questions I don't mind.
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One more thing I should have mentioned; Being that homeowners is so hard to comeby especially in Florida, you need to realize if they both are on the same policy, if you have a claim, it will affect BOTH homes' eligibility going forward instead of just one.

thanks for the advice i'm taking ce cources and i also study the carrier manuals, and thanks to this forum i'm learning faster

 

[Guest]

thanks for the advice i'm taking ce cources and i also study the carrier manuals, and thanks to this forum i'm learning faster

Bill, I will agree with Josh, you better learn the products SOON, if your new, stay away from commercial for a while until you learn auto/home. Commercial can get pretty complicated and each type of business is compeltely different and needs specific coverages, if you dont have a mentor, find another agent to split the commercial with you for now.

Also, if you have a question, you are much better off calling the carriers U/W and talking with them, every state and every carrier will have different answers and coverages, you come on here and get the wrong answer because of a different state or carrier, you could be screwed, not saying to ask questions here, but just be careful with specific coverage questions. The U/W are always the best bet

 

[1manshow]

Erie will allow agents to write up to 4 owner occupied homes on the same policy. Of course each one is listed as if it were it's own seperate policy/coverage limits.

 

[joshb]

Erie will allow agents to write up to 4 owner occupied homes on the same policy. Of course each one is listed as if it were it's own seperate policy/coverage limits.

Lets not confuse the OP. In Florida there is no option for what he's trying to do. Erie does not write in Florida.

 

[Underwriter2Agent]

There are some circumstances with some carriers where you can do this on one policy. If both houses are on the same parcel of land, and one of them is the primary residence of the insured, and the other is a rental, you can add a rider for "separate structures rented to other" and then make sure the separate structures coverage is enough to cover that building.

If they're both used for the insureds personal use (say for instance the second home is a guest house that isn't rented and only used occasionally) a standard policy should cover it as long as the separate structures is high enough.

If they're different parcels of land, you're going to need separate policies.

If they're both rentals, even if they're on the same parcel of land, you'll probably need two separate policies. At least I haven't found a carrier willing to do them as one. I only deal with personal lines carriers though, so there are probably commercial carriers that would do this (and possibly personal lines ones that I don't work with).

When all else fails, ask your underwriters.

This is the correct answer