Insurance Agent Brent
Insurance AgentForum Replies Created
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Hey Rhonda, I can help!
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Mobile homes have different insurance requirements compared to standard homes. They need the HUD or serial number, the year, make, and model for replacement cost. Standard homes don’t have these requirements as they are built on-site. Manufactured homes, however, are built in manufacturing plants or warehouses and need a permanent foundation or to be tied down when placed on land. Failure to do so might affect their eligibility with standard market carriers, and you may need to look at surplus lines or carriers that are not in the standard market that are on commercials. It is essential to shop around for insurance premiums for mobile, manufactured, or modular homes because it all comes down to location. Claims history can also affect rates. If your home is in an area prone to hail, storms, or dangerous weather conditions, insurance premiums can be costly.
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DUI is not great for your insurance. Some carriers may reject or decline a renewal, and in that instance, you may even need to get an SR 22 once the ticket and DUI are filed through Lexus Nexus, which pulls through carrier reports. Essentially, an SR 22 is to place your business in the standard market because, most often, carriers will not take you unless you have the SR 22 and the expiration date and when it was filed.
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I think that it might affect the number of agents in that profession, but as it always has been, typically, the best will keep doing so. It might be more challenging to fight for your commission percentage per buyer, but providing value in expertise will be more critical than ever.
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I have an assortment of carriers that I work with getting a DUI may lead to two items. These two items may consist of being non-renewed or surcharged next year with higher costs.
In the case you/clients are non-renewed we could find another carrier option in my portfolio that would work best for you/ clients.
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@brown Good Question!
Every insurance company has its own underwriting criteria for drivers with a DUI. Some may drop you, some may not renew you, and you might not qualify for other carriers.
In the eyes of insurance carriers, a DUI can be treated as negligence behind the wheel and risk the possibility of a claim payout as well if there was an accident to occur.
In most instances, depending on the state you are in, the law may ask you to carry an SR-22, which is essentially a way to help you get insurance in the standard market. This can become a premium headache as well. Usually, the SR-22 has a start and expiration date as well.
Just like any other kind of claim or ticket, a DUI leaves a blemish on your insurance score one way or another. A DUI makes auto insurance harder to obtain or even get at a fair price. As soon as your insurance score takes a hit from any blemish, there is a good chance that home premiums can be affected as well.
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Suppose you have a local reporting alarm, such as a ring camera or a system that reports to your phone. In that case, that is a discount, but most companies are looking for a central reporting alarm, a system that reports directly to the police.
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Thank you, Lilly! Let me know what else you may have questions about, and I would be happy to write about it!
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Insurance carriers are not really concerned about windows. Getting a new roof can certainly help you qualify for a lower rate and give you more carrier options!