Transitional Homeowners - A Path to Coverage for Homeowners Forced Out of Standard Markets
New Product Now Available!
Quote in peteRATER+ Homeowners Product Guide (PDF)
Surplus Lines HO3 for Well-Maintained Homes
In today's market even responsible homeowners can get pushed out of the standard markets... often for bad luck! This Concorde-designed surplus lines homeowners product can be a path to coverage for well-maintained homes 40 years and newer facing challenges with loss frequency / severity (especially wind, hail and water), risk location or carrier withdrawal, until they again qualify for a preferred HO3.
Product & Eligibility Highlights
- Surplus Lines HO3 with Coverage Limitations (See Below)
- Replacement Cost Settlement (ACV for Roof Surfaces)
- Homes Valued $250,000-1,000,000 ($1,800,000 TIV)
- Broad Claims Appetite - Up to 3 Losses or $300,000 Paid
Any Fire Loss Ineligible - Homes 40 Years and Newer
- HUGE Credit for selecting $5,000 or $10,000 AOP Deductible
- Owner and Seasonal/Secondary Occupancies Eligible
- All Protection Classes Eligible (PC 1-10)
- Broad Ownership Appetite - Individual, Trust, LLC & Partnership Eligible
- Online Quote, Pay & Bind with Automated Renewal Process
- Direct Billing on All Accounts with EFT Payment Options
Important Endorsements & Coverage Limitations
- Actual Cash Value - Loss Settlement for Wind/Hail Losses to Roof Surfacing
- Wind/Hail - $20,000 Sublimit or 3% of Coverage A (whichever is higher)
- Water Damage - $10,000 Sublimit
- Home-Sharing Amendatory Endorsement
- Solar Panels and Related Equipment Exclusion
- Trees, Shrubs, and Other Plants Exclusion
- Loss of Use Exclusion (for Secondary/Seasonal Occupancies only)
- Specified Breed Animal Exclusion
- Trampoline Exclusion
- Swimming Pool/Hot Tub Exclusion
Questions?
We're here to help! Give us a call or book a time for a personal product tour.