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I found this thread because I'm kind of on the other side of this problem.
I have an MSB estimate which is probably pretty accurate, but I'm still looking at a lower value home. Sub $125k, which I can't get a rate from the usual suspects if cov a is under that. I know that's usually the threshold that a home is often insured with an ho8 or some other non standard home policy.
I come from a captive background, where we could pretty much write anything so the appetites of these carriers are kind of new to me.
If I bump up the coverage on the house a little to get to the value they start looking for, is that going to be a problem for the underwriter/carrier? 125 is about 8k north of the MSB. Am I looking for trouble doing this, or is this fairly common?
I apologize if I seem to be obsessing over nothing, but I want to get this right without any hiccups, this is the first referral to my new agency from a mortgage broker and I want to make sure this leads to more and more referral business.
I have an MSB estimate which is probably pretty accurate, but I'm still looking at a lower value home. Sub $125k, which I can't get a rate from the usual suspects if cov a is under that. I know that's usually the threshold that a home is often insured with an ho8 or some other non standard home policy.
I come from a captive background, where we could pretty much write anything so the appetites of these carriers are kind of new to me.
If I bump up the coverage on the house a little to get to the value they start looking for, is that going to be a problem for the underwriter/carrier? 125 is about 8k north of the MSB. Am I looking for trouble doing this, or is this fairly common?
I apologize if I seem to be obsessing over nothing, but I want to get this right without any hiccups, this is the first referral to my new agency from a mortgage broker and I want to make sure this leads to more and more referral business.