Who are we writing homeowner policies with recently lapsed coverage?

[Tristan Bills]

Who are we writing homeowner policies with recently lapsed coverage?

Homeowner takes full responsibility, a chain of unfortunate events after they lost their son, they lost their debit card and got a new one, forgot to update billing with Traveler's Insurance, ignored all of their mail, and it was cancelled for non-payment. Now they're wanting to get coverage on a 104 year old home with no mortgage. I've exhausted all of my carriers and none are interested because of the lapse.

This would be in Utah.

 

[NY independent]

Time to reach out to your GA. You might even wind up E&S for a year or two. Get photos of the inside and outside of the house showing that it's in great shape (assuming it is), and prepare the insured that they will need to prepay the rewrite in full, and that if it's an E&S placement it will be much more expensive.

 

[fed up]

And Travelers won't take it back even as new business with full paid premium?

 

[marindependent]

This sounds like an surplus lines / nonadmitted option all day long.

 

[Lance Manion-KCMO]

Time to reach out to your GA. You might even wind up E&S for a year or two. Get photos of the inside and outside of the house showing that it's in great shape (assuming it is), and prepare the insured that they will need to prepay the rewrite in full, and that if it's an E&S placement it will be much more expensive.

I came across a very similar issue in KS just yesterday with a 20yr old roof and a barn to boot. AO is the only carrier we have that may be a fit but I'm doubtful. Appreciate the post and comments- good to know!

 

[RickyG]

Who are we writing homeowner policies with recently lapsed coverage?

Homeowner takes full responsibility, a chain of unfortunate events after they lost their son, they lost their debit card and got a new one, forgot to update billing with Traveler's Insurance, ignored all of their mail, and it was cancelled for non-payment. Now they're wanting to get coverage on a 104 year old home with no mortgage. I've exhausted all of my carriers and none are interested because of the lapse.

This would be in Utah.

I know people who would just select "yes" they have current coverage & select "other carrier" under who they are currently insured with. Then bind it, if it gets canceled due to agent error you can show a new carrier the home was covered by carrier A in example. I mean I wouldn't do such a thing but I know some who would.