|
Accepted and complete
More than
200 property/casualty insurers use the AAIS Homeowners Program
as the basis for their homeowners product.
The
program has all the components you need in a standardized
product base, including some you won't get from other providers.
The
forms
are newly
updated and include:
·
Seven
base coverage forms: basic, broad, special, contents
(renters), special building and contents, unit-owners, and
limited perils;
·
A variety
of loss settlement options: actual cash value, replacement value
for personal property, modified replacement cost, and functional
replacement cost;
·
Endorsements for excluding coverage for lead, pollutants,
punitive and exemplary damages, and other causes of liability
loss;
·
Endorsements for limiting losses due to fungi (mold);
·
Coverage
parts for insuring home-based business and equipment breakdown
exposures; and
·
More than
75 other optional endorsements, plus all necessary state
amendatory endorsements.
The manual
gives you
the data you need in formats that are easy to implement,
including:
·
Countrywide rules that include most rating factors;
·
Factor
rating for optional liability coverages;
·
Higher
wind and hail deductibles in most states;
·
New home
and age of system rating factors;
·
State
pages with loss costs and state-specific rules and rating
information; and
·
Rating
information that incorporates modeled data for hurricane and
earthquake from the nation's leading catastrophe modeling firms.
Innovative
The newly
updated forms include several important innovations, such as:
·
The
industry's first standardized endorsement options for adding
equipment breakdown coverage
for
certain household equipment;
·
Updated
policy language clarifying the extent of coverage for personal
injury arising from e-mail, blogs, and other forms of electronic
communication;
·
New
built-in coverages for association insurance deductibles,
property in rental units, and liquid fuel remediation; and
·
Important
updates to provisions addressing water-related losses, business
activities, motorized vehicles and other changing exposures.
Taken
together, these and other features of the 2007 AAIS Homeowners
Program demonstrate how AAIS staff specialists work on the
details so you can concentrate on the big picture.
To
learn more . . .
. . . contact Rick Maka, director of
marketing, at
rickm@AAISonline.com, or by calling 800-564-AAIS.
The AAIS Mobile-Homeowners Program provides all the coverages needed for insuring mobile homes, along with rating information based on mobile-home experience.
Perhaps a quarter of American households operate some type of business from the home, but very few of them are fully
insured for the business exposure.
With this endorsement, included as part of the AAIS Homeowners, Mobile-Homeowners, and Farmowners
Programs, insurers can provide coverage for certain business
activities that fall outside of standard personal lines coverage
but do not require separate commercial coverage.
As an endorsement, the option:
-
Replaces the personal liability coverage in the base policy with commercial liability coverage for business exposures
-
Extends Coverage C (Personal Property) to business property on the premises,
and increases the limit applicable to business property away
from the premises
-
Adds coverage for structures used to store business property, and offers business-related incidental and optional coverages
such as accounts receivable
-
Classifies covered businesses into six
categories, allowing personal lines staff to underwrite and rate the entire policy without using commercial lines procedures
|
