Vacant dwelling

vacant dwelling with a fireplace

Vacant Dwelling Coverage: Protecting Assets when No One is Home

In April 2018, the U.S. Census Bureau announced that national vacancy rates in the first quarter of 2018 were seven percent for rental housing and 1.5 percent for homeowner housing. In total, there were an estimated 17,161 vacant housing units in the United States for Q1 2018. While there is ample opportunity for retail brokers…

Vacant Homes at Risk: Cleveland Explosion a Reminder of Vulnerability

A recent explosion at a vacant Cleveland-area home ended in tragedy—resulting in the death of one woman, critically injuring a man, causing five nearby residences to be uninhabitable and damaging nearly 100 other homes. Police say four individuals were stealing metal from the home and likely caused a natural gas leak. Over the past 20…

Vacant Dwelling Coverage: Uncovering Challenges and Finding Opportunities

Approximately 12.9 percent of residences, more than 17 million housing units, were vacant in 20151—many of which sit unprotected today. The window of opportunity for retail brokers and agents to speak to clients about Vacant Dwelling insurance is wide open. However, some brokers may think this coverage is difficult to sell for varying reasons, including…

Avoiding a Claims Catastrophe

Understanding Exclusions and Deductibles Before an Event & Reacting Quickly in its Aftermath Many insureds believe that the only interaction they require with their broker or agent is at the time they purchase a policy. But according to Melanie Elias, Corporate Vice President, and Director, Claims at Minuteman Adjusters, a leading third-party claims administrator says,…

Access to Excess (& Surplus) is Essential

Placing vacant properties, short-term rentals and similar nonstandard risks requires the kind of flexibility that is possible only through successful relationships with the excess and surplus market. “If you’re a personal insurance broker or agent, you might not be familiar with working with the excess and surplus market. If you’re a commercial broker or agent,…

Insurance Rights + Wrongs

Keep your clients in the clear with these helpful lessons pulled directly from our case files Even in good times, policy exclusions can test a relationship with a client. In tougher times, unforeseen exclusions can wreak havoc on an insured’s business and impede their ability to repair property damage, pay medical fees or adequately protect…

Coach Your Clients Don't Get Scared, Be Prepared

Coach Your Clients: “Don’t Get Scared… Be Prepared”

The recent tragic storms that raged across our country caused a path of destruction – disrupting the lives of many families and destroying the one safe place that we all cherish – their home. From sudden events like landslides and tornadoes to disasters like floods and wildfires that grow with force over time, Mother Nature…

Vanacy = Opportunity

Vacancy = Opportunity

That upheaval has changed circumstances and lifestyles, sometimes profoundly. And the insurance industry — especially the excess and surplus (E&S) market — is responding by providing or tweaking coverage to meet the shifting needs of its customers. Dwelling fire policies are a case in point. Typically used to protect residential properties that do not qualify…