Preferred Carriers VS Non-Standard Carrier

[indienoise]

Find a different way to spin it... First off I would bet the E&S policy is under a co-insurance clause 80% or 90% with ACV not RC.
With those two differences you should be able to explain why the extra money is worth spending.

As far as straight up pricing... non admitted carriers are not regulated as hard as standard carriers. They write their own policy forms and for the most part their own rates. Typically if a standard company will quote a risk it is most always cheaper, especially after policy fees. You could have a rare situation.

erm...this is auto we're talking about. I know in other lines of business, nonstandard often equals non-admitted, but in good ol' personal auto, you just have an admitted nonstandard carrier. Also being auto, it's always ACV, unless it's a collector car policy, which is agreed value, so no co-insurance clauses necessary...

 

[marindependent]

Is this auto or home?

 

[dahonored1]

Is this auto or home?

it's auto..there's not much wholesalers in NY that does auto.. Does anyone know of/recommend any good MGA/wholesalers?

 

[LostDollar]

I see nonstandard carriers beat standard carrier premiums a fair bit. Normally when this happens, there are a LOT of holes (or at least cons) in the nonstandard policy: named driver, lack of grace period, requires immediate payment when endorsement creates additional premium, no substitute vehicle coverage, etc. If the client can't appreciate the differences, he probably fits the nonstandard profile anyway.
Safeco is a perfect example of this scenario. They'll take risks that many other standard carriers would decline, but they kinda make their statement with their premium. In my area, they are typically in line with progressive's premium when the prospect doesn't hit their preferred tier.

So Safeco is a non-standard carrier?

If so, what/where do I read to understand meanings of that better?

Does the same concept apply in home coverage?

 

[indienoise]

So Safeco is a non-standard carrier?

If so, what/where do I read to understand meanings of that better?

Does the same concept apply in home coverage?

Depends who you ask. The point of my post was, some will say they are more nonstandard because they accept a wider range of risks than some carriers, based on certain factors.
But my experience is they only tend to be competitive on very preferred risks.