Dwelling Fire in CA - How?

williamsassoins · 12-03-2008, 10:09 AM

Hi everyone!

How are you all currently getting your dwelling fire quotes?

williamsassoins · 12-04-2008, 12:52 PM

Anyone?

djs · 12-04-2008, 08:40 PM

What do you mean?
The fastest way - dwelling coverage = square footage times $175. This works okay for straight tract homes. use $250 for nice home, $350 or higher for custom homes.

I actually recommend gettign some sort of cost estimator. The somewhat standard is Marshall and Swift.

There is no secret formula to do these correctly. There are always 'oh, by the way', such as a built in garage is more expensive than a standard garage. A standalone garage is separate structure, so it doesn't need to be accounted for (as long as there is adequate separate structure coverage), etc.

Of course, keep an eye on the kitchens, and weird things like a in-law apartment above the garage out back. Kitchens are by far the most expensive room in the house. Have your kitchen fully remodeled, then you'll be pretty good at estimating kitchen values

Dan

williamsassoins · 12-05-2008, 10:06 AM

Dan, thank you.

I should have been more clear though. I meant, how are you currently getting the actual quote, do you guys submit the accord apps to the carrier? Go to the carrier's site? Or any other way?

Also, how often is the dwelling fire placed with a different carrier than the home insurance?

SCLady · 12-07-2008, 09:40 AM

Originally Posted by williamsassoins

Dan, thank you.

I should have been more clear though. I meant, how are you currently getting the actual quote, do you guys submit the accord apps to the carrier? Go to the carrier's site? Or any other way?

Also, how often is the dwelling fire placed with a different carrier than the home insurance?

Well, if you have a direct contract with the carrier, you go directly to their site to quote. If you have a marketer, you can usually quote directly on their website, then submit the ACORD app when ready to bind.

djs · 12-07-2008, 09:49 AM

I've never placed the dwelling fire with someone other than the home insurance. Truthfully, never even thought about doing this, not sure why I would.

I have direct appointments, I can enter the information directly, quote, bind, collect premium, out the door.

Most carriers or aggregators will provide some tool for you to quote the risk. It's different for commercial, but they would go crazy if they had to manually run every personal lines quote (like the old days...) Manual submissions are done in some cases where the risk does not fit normal guidelines.

Dan

SCLady · 12-07-2008, 11:06 AM

Originally Posted by djs

I've never placed the dwelling fire with someone other than the home insurance. Truthfully, never even thought about doing this, not sure why I would.

I have direct appointments, I can enter the information directly, quote, bind, collect premium, out the door.

Most carriers or aggregators will provide some tool for you to quote the risk. It's different for commercial, but they would go crazy if they had to manually run every personal lines quote (like the old days...) Manual submissions are done in some cases where the risk does not fit normal guidelines.

Dan

Sometimes the property is in another state, and the current home agent isn't licensed in that state. Sometimes the property doesn't qualify for the original carrier. Sometimes the rate is too expensive with the original carrier.