Basic, Broad, Special

[Turz]

So there I was minding my own business, as we all do, when it happened. Someone says, oh you're insurance should cover that! Then another guy points to you (me in this case). He deals w/ insurance he'll tell you.

At first listening to his story I immediately said he had coverage. Then two days later I had to call him up and say I was wrong. It had been a few years since I was with his current carrier and I forgot they only offered broad form.

When I was Indy I had ONE, which was a small mutual company w/ less than 10 M in policies. They were extremely difficult to write for as their UW guidelines were insane. One guy over saw the whole operation and he was a _____.

That got me thinking, how many HO companies actually sell Special Form policies these days? Does your office promote them? How do you pitch it vrs broad form?

 

[iiinycboi]

I never had a problem with my carriers, i can quote all forms but some frame surplus lines i can only offer basic or special no broad.

 

[joshb]

Never written a broad form, Only Special and on very rare occasion basic.

 

[Guest]

I have to say, you are a ****** for ever admitting there is coverage, ESPECIALLY with a company you don't represent, who cares if you had them a couple years ago, policies change all the time!!!

 

[SSINS]

I have to say, you are a ****** for ever admitting there is coverage, ESPECIALLY with a company you don't represent, who cares if you had them a couple years ago, policies change all the time!!!

Bottom line, I am very thankful for him sharing his experience. Any time your asked a question like this, it is best to say "Let me review your policy"

 

[NCAgent]

I have to say, you are a ****** for ever admitting there is coverage, ESPECIALLY with a company you don't represent, who cares if you had them a couple years ago, policies change all the time!!!

This.

HE7 policies are available in NC that are known for guaranteed replacement cost. One company doesn't do GRC though and caps at 125-150% RC instead. No one would know that unless you represent the company and would have no way of knowing which until you review. Same company includes water backup as part of that whereas some other companies don't.

You just don't know until you see it. Even if a universal policy like HO3, there could be some exclusions on there that would **** up your understanding. Dog bite, trampoline, pool, excluded driver, etc.

 

[djs]

When it comes to a specific question, there is no such thing as a universal policy form. Every carrier tweeks them a bit. That specific question may be related to that companies specific tweek.

Dan