HO-6 to HO-3

[swmall05]

I have a customer who currently owns a condo and has it insured with an HO-6. He is in the process of buying a house and I am writing him an HO-3.

The customer is going to keep his condo and rent it out. What would be the best way to insure his interest in the condo while he is renting it out?

 

[DiegoInsGuy]

You need to write it as a Condo rented to others. It is still an HO-6 not a dwelling fire policy..Just check with your UW they will/can verify this for you..

 

[Sales71]

I have a customer who currently owns a condo and has it insured with an HO-6. He is in the process of buying a house and I am writing him an HO-3.

The customer is going to keep his condo and rent it out. What would be the best way to insure his interest in the condo while he is renting it out?

You might be able to endorse the current condo policy to show that is rented out 52 weeks in the year.

 

[AdvisorsIns]

I agree. Keep HO6 endorse coverage for less personal property and rented out.

 

[Soaringagent]

It depends on the insurance carrier. some will want it written to dwelling fire

 

[USF3983]

Yeah we have a couple of companies that do DP-3C's.

 

[Agent Ave]

DP3 (Dwelling Fire - tenant occupied)
DP1 (Dwelling Fire - while its vacant).

Best,

 

[munda4545]

Hi there,
I am In bay area. I'd like to create a niche In Mortgage / home insurance area.
Previously worked as an Medicare area, any idea about leads,training,problems?
Please do advise @ your convenience.
email: [email protected]
Mike Munna

 

[pcbinsurance]

Hi there,
I am In bay area. I'd like to create a niche In Mortgage / home insurance area.
Previously worked as an Medicare area, any idea about leads,training,problems?
Please do advise @ your convenience.
email: [email protected]
Mike Munna

This is not keeping with the subject of this thread. Your best bet would be to start a new thread with a valid title. I'm sure you will get more traction that way.

 

[agentinsouth]

I have a customer who currently owns a condo and has it insured with an HO-6. He is in the process of buying a house and I am writing him an HO-3. The customer is going to keep his condo and rent it out. What would be the best way to insure his interest in the condo while he is renting it out?

You have to go DP, possibly a surplus lines carrier depending on where you're located. If you write an H06 and have a claim, there's a good chance your E&O insurance will be paying for it.

I am working on one right now.