{"id":262,"date":"2015-06-05T15:48:00","date_gmt":"2015-06-05T22:48:00","guid":{"rendered":"http:\/\/www.corrinblogsinsurance.com\/?p=262"},"modified":"2015-06-05T15:48:00","modified_gmt":"2015-06-05T22:48:00","slug":"five-challenges-can-make-homes-hard-to-place","status":"publish","type":"post","link":"https:\/\/www.corrinblogsinsurance.com\/?p=262","title":{"rendered":"Five challenges can make Homes hard-to-place"},"content":{"rendered":"

Even the savviest insurance professional can face challenges when dealing with their client\u2019s hard-to-place risks.<\/strong><\/p>\n

The housing market is no exception and brokers may find that some homes are falling outside of the standard insurance market appetite due to a number of unique exposures. If not outright cancellation, many homeowners are facing exponential increases in their premiums, something hard to stomach for the occasional weekend visit to the second home. \u00a0In these situations, clients can get frustrated, particularly if quick, and acceptable solutions are not delivered.<\/p>\n

Here are\u00a0five contributing factors that can make some homes hard-to-place:<\/strong><\/p>\n

    \n
  1. Physical Structure<\/strong>: Often the physical structure itself is a challenge. The home may be older or in need of repairs or updates to the electrical or plumbing systems. Alternatively, a client may purchase a home that is still under construction or renovation which may disqualify it for a standard homeowners\u2019 policy.<\/li>\n
  2. Location<\/strong>: Homes may be located in areas prone to earthquake, flood or wildfire. Often, these homes are in a remote location, placing them at greater risk for fire.<\/li>\n
  3. High-Value<\/strong>: High-value homes and the contents inside often create a challenge for the standard insurance market. These homes and their owners require a carrier that caters to the affluent market.<\/li>\n
  4. Client Profile<\/strong>: High-profile clients, such as celebrities, athletes or entertainers are natural targets for lawsuits and may not qualify for standard home policies because of the high limits of liability they require. Conversely, clients with a history of credit or payment issues may also have difficulty obtaining standard coverage.<\/li>\n
  5. Previous Claims<\/strong>: Some applicants have filed too many insurance claims or certain \u201cred flag\u201d types of claims such as dog bites and have been non-renewed or cancelled from the standard market.<\/li>\n<\/ol>\n

    Numerous insurance options are available for hard-to-place risks with the right Agent\/Broker. Experienced Brokers and Agents can tailor coverage solutions to fit their client\u2019s exposures and make sure they have the protection they need.<\/p>\n

    Adopted from an Article found in the May 21, 2015 edition, Insurance Market Source<\/a>, Copyright 2015 | Kaufman Financial Group<\/a>.<\/p>\n

    For more information, or if you have questions, contact Corrin Trowbridge, 650-876-9600, ctrowbridge@farmersagent.com<\/a><\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Even the savviest insurance professional can face challenges when dealing with their client\u2019s hard-to-place risks. The housing market is no exception and brokers may find that some homes are falling outside of the standard insurance market appetite due to a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[8],"tags":[],"class_list":["post-262","post","type-post","status-publish","format-standard","hentry","category-homeowners-insurance"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7CwcV-4e","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=\/wp\/v2\/posts\/262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=262"}],"version-history":[{"count":1,"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=\/wp\/v2\/posts\/262\/revisions"}],"predecessor-version":[{"id":263,"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=\/wp\/v2\/posts\/262\/revisions\/263"}],"wp:attachment":[{"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.corrinblogsinsurance.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}