Homeguard *Additional* Underwriting Guidelines

*New Business Only*

Effective October 1, 2023

Homeowners: HG-2 ACV

• $2,500 minimum deductible.
• One loss in the previous 5 years not to exceed $1,000.
• Optional premium bearing endorsement available for the purchase of replacement cost for the roof and siding (HMIC 108).

Homeowners: HG-3 RC Standard Homeowners

• $2,500 minimum deductible.
• One loss in the previous 5 years not to exceed $1,000.
• Dwelling replacement cost between $125,000 and $600,000.
• The risk cannot exceed $600,000 at the time of new business.
• Property upkeep and care must be in excellent condition.

Homeowners: HG-3 RC Preferred Homeowners

• $2,500 minimum deductible.
• Dwelling age cannot exceed 35 years (No exceptions).
• One loss in the previous 5 years not to exceed $1,000.
• Dwelling replacement cost between $125,00 and $650,00.
  • Please note when the policy exceeds the $650,000 coverage amount at the renewal, the policy will be placed in the High Value Preferred Homeowner and the deductible will be moved to $5,000 deductible. This move will not change any type of coverage associated with the policy.
• Property upkeep and care must be in excellent condition.
• No limiting endorsements of coverage permitted.

Homeowners: HG-3 RC High Value Preferred Homeowners

• $5,000 minimum deductible
• Dwelling age does not exceed 35 years.
• One loss in the previous 5 years not to exceed $1,000.
• Dwelling replacement cost between $650,001 and $850,000.
• The risk cannot exceed $850,000 at the time of new business.
• Property upkeep and care must be in excellent condition.
• No limiting endorsements of coverage permitted.

 

Please note: Additional Underwriting Restrictions to the Farmate will follow soon.