Resources
Owner's Manual for Homesite models including: Homeowners Insurance Program, Insurance Program
File Info : application/pdf, 3 Pages, 3.36MB
DocumentDocumentDelos/Homesite Product & Underwriting Overview
For Delos sales agent & broker distribution only. Additional forms and information can be found on the Resources page.
This document is intended to provide an overview of the coverages available in the Delos/Homesite Homeowners program. It is not inclusive of all guidelines, coverages, and exclusions. We evaluate the general aspects of every risk to determine its underwriting profile, uniformly reviewing policy characteristics. Homesite/Delos will provide coverage for a one, two, three, or four-family owner-occupied dwelling used as a primary residence or a dwelling used as a seasonal/secondary residence.
Policy and form coverages
Delos/Homesite provides a non-admitted HO3 policy with open perils coverage on the dwelling and other structures and named perils on personal property. We write on A rated paper from Homesite (owned by American Family).
PROPERTY COVERAGES
Maximum TIV: Coverage A: Dwelling Coverage B: Other Structures Coverage C: Personal Property Coverage D: Loss of Use
Limits $3,000,000 maximum $70,000 to $1,500,000 1% to 20% of Coverage A 25%, 50% or 70% of Coverage A 10%, 15%, or 20% of Coverage A
UNDERWRITING GUIDELINES
The following risks are not acceptable (not inclusive of all underwriting guidelines... see full guidelines at getdelos.com/resources):
Occupanc¤ } Homes that are not owner-occupie } Homes that are vacan } Homes that are rented to others (this includes short-term rentals like Airbnb/ VRBO, and any other time-sharing lease or rental agreement{ } Business on the premise } Commercial or retail farming on the premise } Home daycar§ } High profile individual } Properties with more than one home on the property (even if there are two separate addresses{ } More than 4 separate living unit } Number of families per unit > } Number of roomers/boarders per family > 2
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Dwelling Condition & Featureâ
Insurance/Claim Histor¤
} Square footage over 500í
} More than 2 losses in past 5 year
} Homes 100 or more years ol
} More than 1 claim in the past 5 years due
} Log homes or homes with wood roof
to all causes of loss other than the weight
} Mobile/modular/manufactured home
of ice, snow, sleet; windstorm; lightning;
} Homes supported by piers or stilt
hail; earthquake; or flood
} Homes with wood stoves or space heaters as a } `Non-act-of-god' fire claim(s) with
primary heat sourc§
cumulative losses >$10k in past 5 year
} Polybutylene pipe
} More than 2 cancellations due to non-
} Underground fuel storage tank
payment in the past 3 year
} Knob and tube wiring, aluminum wiring, or fuse } SPP - not eligible if a theft or mysterious
} Electrical panels from Federal Pacific Electric
disappearance loss has occurred in the
(FPE) Stab-Lok, Challenger, Pushmatic, or ZinscÀ last 5 years
} Homes with ADU
} Applicants or properties with open claim
} Non-standard constructioÝ
} Note: all claims/losses experienced by an
} Residences that are not accessible to emergency applicant will be considered in the
vehicles year-roun
underwriting process, regardless of the
} Homes with adverse conditions or hazards that location of the claim/loss.
display a lack of maintenance as identified
through an inspection or otherwise.
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MINIMUM PREMIUM
2 The minimum annual premium is $2,200 (typically $2,605.30 with taxes and fees)C 2 The minimum earned premium is 25% (Per the MINIMUM EARNED PREMIUM ENDORSEMENT - HS 80 93 GE 02 21)
DISCOUNTS
Discounts will be automatically applied based on eligibility. The amount of discount is dependent on property characteristics.
Welcome Home: Customers who recently purchased a new home.
Roof It Over Discount: For homes with roofs less than 10 years old.
Safety First Discount: Fire and burglar alarms must have central station or direct notification to be eligible (Certificate of monitoring required).
New Construction Discount: For homes less than 10 years old.
Better Together Discount: For Gold and Platinum endorsement packages (Not available for secondary homes).
BILLING
Payment method
Types of billing
Payment due dates and
installment options
Bind date Recurring fees & taxes
2 Credit carP 2 Electronic check (ACHF 2 Escrow
All payments must be made electronically unless being paid by a mortgagee or escrow holder.
Direct or escrow (no agency-bill)
: F 2 1-pay Full payment due upon bind (except for escrow payments, which can be received later : 7 2 2-pay The down payment is 0% of the premium, plus policy fee, inspection fee, stamping fee, and
* CA surplus lines tax. The remaining balance is due 6 months from the effective date 2 4-pay: The down payment is 40% of the premium, plus policy fee, inspection fee, stamping fee, and
CA surplus lines tax. The remaining balance will be billed in 3 quarterly installments starting 3
months after the effective date**
**$20 fee per installment for 2-pay & 4-pay
: As early as 12 01 am the next day (no back-dating), or as late as 60 days in the future.
The policy fee, stamping fee, and state tax are charged every year. Inspection fees are only incurred when inspections actually happen.
DEDUCTIBLES
2 All other peril (AOP) deductibles available are $2,500 or $5,000C
W / 2 ind Hail deductible (mandatory) must match AOP deductible.
Options are $2,500 or $5,000C
W 2 ildfire deductible minimums are 2%, 5%, 10%, or 15% and are
assigned based on property location.
ACL IMS
Claims are handled by the parent company American Family. In the event
7 of a claim, please call American Family at 888-823-356 , extension 9.
A AL L V AG DDITION INC UDED CO ER ES (see more optional coverages on the next page)
v Debris Remo al , S , Trees hrubs and Plants
Provides an additional 5% of the limit available for such expense. And, up to $1,000 aggregate per occurrence for removal of trees felled by the peril of windstorm or hail, weight of ice, snow, or sleet.
Provides up to 5% of the limit of liability that applies to the dwelling for all trees, shrubs, plants, or lawns. No more than $500 of this limit will be paid for any one tree, shrub, or plant.
Loss Assessment O O L rdinance r aw
Provides up to $1,000 of loss assessment charged during the policy period. The included amount is 10% and it can be increased up to 25%.
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LIABILITY COVERAGES
Coverage E: Personal Liability Coverage F: Medical Payment Animal Liability
Swimming Pool
$100,000, $300,000, or $500,000
$1,000, $3,000 or $5,000
$25,000 Limit Per Occurrence or Excluded (If there is a bite history or exotic animal, animal liability will not be available and we will limit Coverage E to $100,000 & Coverage F to $1,000).
$25,000 Limit Per Occurrence or Excluded (Dwellings are ineligible for the pool liability endorsement if there's a pool with a diving board, a slide, or a pool not enclosed by a locked fence at least 4 feet high)
ADDITIONAL AVAILABLE COVERAGES (All endorsements not listed)
Extended Replacement Cost Coverage (Cov A): 25% or 50%
Water Back-Up Coverage: $5,000 and $10,000.
Ordinance or Law Coverage: 10% included, can increase to 25%
Limited Mold and Fungi: $2,500 and $25,000.
Phy i D u s cal amage Comp ter Coverage (Adds "All Risk." All risk deductible still applies).
Equipment Breakdown Coverage: Limit of $100,000 with a $500
deductible per occurrence.
P I ju y ersonal n r (Limits match Personal Liability).
Identity Fraud Expense Coverage: $15,000 limit.
Scheduled Personal Property: Jewelry, fine art, furs, silverware,
stamps & coins, cameras, musical instruments, sporting equipment
(Limitations apply. This will be quoted post-bind.)
D Li i i Water amage m tat on (Homes over 30 years old are limited to $10k water damage):
$10,000, $25,000, $50,000.
Service Line Coverage:
Limit of $10,000 with a $500 deductible per occurrence.
Personal Property Replacement Cost and PP Open Peril
ADDITIONAL OFFERINGS, REQUIREMENTS & EXCLUSIONS
At new business, homes 30 years old or older will be limited to $10,000 of water damage coverage using the Limited Water Damage Coverage Endorsement. If this endorsement is removed, the Water Damage Exclusion will be attached.
Homes with roofs older than 10 years will have the Actual Cash Value
R Loss Settlement Windstorm or Hail Losses to oof Surfacing (HS 04
93) endorsement included.
Gold Endorsement Package includes: 25%
ERC on Cov A, "All-Risk" Personal Property Coverage, Refrigerated Property Coverage,
and $5,000 Limited Water Back-Up (not
available for secondary homes or multi-
family homes).
Platinum Endorsement Package includes:
the same items as Gold, 50% ERC on Cov A,
$10,000 Limited Water Back-Up and
Ordinance or Law coverage of 25% (not
available for secondary homes or multi-
family homes).
The named insured cannot be a trust, LLC, LLP, or estate. US-based trusts, LLCs & LLPs can be added as additional insureds with a
post-bind endorsement. For details, please
see the document "Insureds vs Interested Parties on a Delos/Homesite policy".
INSPECTIONS
§ All homes/properties are subject to an external inspection with a wildfire/brush supplement. Refusal of inspection may result in cancellationÀ
§ Properties meeting the following criteria are also subject to an internal inspection: Coverage A > $499K, or age of home > 29 year° § Please be aware¥
§ If inspectors determine that the dwelling replacement cost exceeds $1.5M, a cancellation will be issue § If inspectors determine that the replacement cost of other structures exceeds 20% of Coverage A, a cancellation will be issue § If inspectors observe that the roof has debris, moss or granular loss, a cancellation may be issued until proof of repairs can be provide § If inspectors are unable to reach the insured to arrange a home inspection, the policy may be canceled
BINDING MORATORIUMS
§ Agents will be notified via email when a binding moratorium is implemented and when rescindedÀ § Moratoriums will be applied on a zip code basis.
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