Question for the Experts

[bukev1]

I have a non-profit client, ABC co. that is looking to purchase a single family dwelling in a residential neighborhood. ABC co. will have low income seniors in the dwelling who will pay the company a subsidized rent, there is no medical care done on site. I am trying to determine if I should explore a personal lines Dp-1 or DP-3 policy in the corp. name or offer a commercial Prop & GL policy in the corp name.

Any advise is greatly appreciated. The dwelling is located in a coastal town in FL and will need wind coverage.

Thanks!

 

[BTFuzz]

That is a commercial exposure...company owned. Personal lines underwriting won't touch it I'm sure.

 

[bukev1]

i have one quote on the table with a DP-1 under a personal lines policy thru Tapco that is written in the corp name...any other th?oughts/ideas?

 

[BTFuzz]

At the very least it's a landlord policy...I'm saying commercial all the way. That's how I would right it.

 

[Guest]

Why would you write a DP1? Put it on the commercial side and give them the type of policy they NEED!

 

[bukev1]

thanks gentleman...

 

[Guest]

thanks gentleman...

Well, what did you decide to do with it?

 

[bukev1]

been shot down in commercial by everyone due to frame construction and they wont cover wind due to proximity to water..then the client threw a wrench in it stating that they are making the dwelling a duplex. The one tapco personal dp-1 quote is no longer valid due to the duplex. may have to settle for citizens unless someone has some ideas. THX

 

[Guest]

been shot down in commercial by everyone due to frame construction and they wont cover wind due to proximity to water..then the client threw a wrench in it stating that they are making the dwelling a duplex. The one tapco personal dp-1 quote is no longer valid due to the duplex. may have to settle for citizens unless someone has some ideas. THX

Pk, now my opinion changes.......send them somewhere else, you will be running circles and spending too much time trying to find a policy, unless this is a larger client for you, but too much time spent on one policy.

 

[bukev1]

thats why im doing it...trying to help a friend and it could lead to much larger deals...fun stuff