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MULTI-STATE HOMEOWNERS HO3
Product Overview

 

MULTI-STATE HOMEOWNERS HO3

POLICY HIGHLIGHTS
• ISO Special Form HO3
• Carrier is A.M. Best A-rated (Trisura Specialty Insurance Company) (TSI)
• Coverage A Appetite: Min = $100,000 Max = $750,000
• Max Total Insured Value (TIV) = $1,250,000
• Extended Replacement Cost Option @125%
• Credit scoring – None
• Distance to coast restrictions –None, includes all wind zones-Some Barrier Island Restrictions apply in AL, MS & NC
• Age of home restrictions –None (Proper upgrades required)
• Protection Classes 1-9 eligible / Protection Class 10-ineligible
• Up to 2 claims reported in last 3 years acceptable (no more than 2 property or no more than 1 liability, med. pay or fire.) (Act ofGod not counted)
• Proof of prior coverage is not required
• Quotes are valid for 60 days
• Effective dates on bound policies can change with closing date changes up to 60 days from bind
• Liability and Medical Payments can be excluded

DISCOUNTS
• Auto Companion –5% (Your agency has their auto policy)
• Renewal –Year 1-3% Year 2-4% Year 3-5%
• LossFree –2 years Claims Free 3% / 5 years Claims Free $0 AOP deductible
• Affinity -Military / First Responder (Active or Retired) 5%
• Golden Age –(60 or older) 5%
• Protective Device –Secured Community and Many More
• Fortified Homes for Safer Living Discounts (FFSLS): (Alabama & Mississippi only)
       a. New Construction Compliant – FFSLS – Bronze/Silver/Gold
       b. Retrofitted Existing Homes – Bronze/Silver/Gold
• 2006 IRC Bldg. Code –(Alabama specific) Homes built 2007 and newer meeting all protection requirements.(South Carolina-Specific Coastal Counties)

DEDUCTIBLE CHOICES
• All Other Peril (AOP) –$500 -$1,000 -$2,500 -1% -2% -3% -5%
• Hurricane/Wind/Hail or Tornado –COASTAL –$2,500 -1% -2% -3% -5%
• Hurricane/Wind/Hail or Tornado –INLAND –$1,000 -$2,500 -1% -2% -3% -5%

PAYMENT PLANS
• Annual
• Semiannual
• Quarterly
• Ten Pay

OPTIONAL COVERAGES
• Personal Property Replacement Cost
• Ordinance or Law Coverage –10% included(25%-optional buy up)
• Limited Fungi, Wet or Dry Rot or Bacteria coverage –$5,000/$10,000included($15,000/$30,000 optional buy up)
• Water Backup/Sump Pump Coverage –$5,000 or $10,000 available
• Loss Assessment coverage –$1,000 included / $2,000, $3,000 or $5,000 buy up
• Unscheduled Personal Property Special Limits of Liability Increased amounts to a maximum of$9,500 in $1,000 increments for Jewelry, Watches and Furs and Silverware,  Goldware and Pewterware
• Maximum $1,000 for loss by theft of firearms and related equipment included on all policies (included in Coverage C)
• Personal Injury coverage
• Special Computer coverage @ $2,000, $5,000 or $10,000 amounts
• Equipment Breakdown Coverage @ $25,000 occurrence / $50,000 aggregate
• Identity Theft Expense @$25,000
• Increased Coverage A Dwelling Replacement Cost @ 25% increased limit

ELIGIBLE RISKS
• Single family homes as the principal residence, Townhouse or Duplex if it meets“single building” description.
• Seasonal / Secondary owner occupied only, NO rental exposure.
• Homes 30 years or older must have Electrical, Plumbing, HVAC and Roof in good condition.
• Homes30 years or older written with a Limited Water Damage Limitation (may be removed with proof of all upgrades within the last 10 years and passed building code)
• Metal or tile roofs no older than 35 years; Shingle roofs no older than 20 years, first policy year.
• All roofs must have 5 years minimum remaining useful life, first policy year.
• All homes over 15 years old are inspected (included in the premium),
        • 16 to 30 years old – exterior only,
       • 31 years and older – interior and exterior
• Concrete Slab, open foundation with crawl space 3 feet or less, Pilings, Piers or Stilts

INELIGIBLE RISKS – (Not all inclusive)
• Homes intended to be vacant, relisted for sale, on more than 5acres, or under construction
• Homes in Foreclosure, Short Sale or in state of disrepair
• Roofs with less than 5 years of useful life
• Space heaters, fireplace or wood burning stoves as primary source of heat
• Fuses, knob and tube wiring or Federal Pacific electric panels
• Asbestos
• Farm animals, livestock or farming exposure
• Home Day Care, college housing or nursing home/assisted living exposures
• Homes on Historical Registry
• Mobile Homes, Modular Homes, Log Homes
• Homes with empty Pools
• Homes in the name of a business, corporation, land trust or estates oOnly exception is Trusts as an additional interest
• Homes on landfill sites or geologically unstable areas are ineligible for coverage
• Homes on mountainsides, cliffs, or bluffs, or over water are ineligible for coverage
• Homes partially or entirely over water
• Homes of unconventional constructions, using unconventional parts or not meeting building codes
• Homes built on open foundation
• Homes in Protection Class 10

EXCLUSIONS/LIMITATIONS TO COVERAGE: (Conditions or endorsements may apply)
• PEX (prior to 2006), Polybutylene, Galvanized plumbing (Water Damage limited to $10,000)
• Golf Carts –all coverages are excluded
• Screened Enclosures – excluded
• Animal liability-All animals are excluded from liability coverage
• Diving boards, pool slides, trampolines – excluded
• Unprotected Pool, or hot tub or body of water-liability excluded. Buy back option available. (Requires 4 foot secured fence)
• Aluminum or Metal Siding must include Structural Hail Loss Endorsement (OIS 108)
• Roofs over 15 years old (20 years old if tile, metal or slate) will be settled on an actual cash value basis

BINDING AUTHORITY:
• Risks must meet eligibility & underwriting guidelines.
• Accurately compute the replacement cost of the property and retain this information in your agency file. Orion180 requires 100% insured to value.
• Risks can be quoted and bound up to 60 days in advance.
• Subject to restrictions in the event of a hurricane or tropical storm

DISCOUNTS OFFERED AND DOCUMENTATION NEEDED

OPENING PROTECTION
Opening Protection refers to the discounts an insured can receive for having Hurricane Protection to their property. All opening protection discount proof items to be supplied to us must be received within30 days of the effective date of the policy. NO EXCEPTIONS WILL BE MADE TO THIS REQUIREMENT.In qualifying SC coastal counties of Horry, Georgetown, Charleston, Beaufort and Jasper, homes built 2007 and newer include this discount automatically in your premium calculation.
• Photos of windows with hurricane approved shutters.
• Photos where you can see tracks on windows along with photo of corrugated shutters.
• Paid receipt for impact windows with matching home address.
• Photos of numbered pre-cut plywood specific for each designated opening (window or door).
• Hurricane approved netting with track proof around windows.
• Gold FFSL or IBHS Certificate will satisfy requirement for Opening Protection proof.

2006 IRC BUILDING CODE DISCOUNT
For homes built 2007 and newer a discount may be applied when all of the protection requirements of the 2006 IRC Building Code are met in the construction of the home. This discount is not available for homes receiving either of the Fortified for Safer Living Discounts

GOLD/SILVER/BRONZE CERTIFICATE (IN AL& MS):
• Copy of gold/silver/bronze certificate- *** MUST BE WITHIN 60 DAYS OF EFF. DATE
• When unable to get copy of certificate, a letter from the builder stating that the home has been built to a gold/silver/bronze level will suffice until a certificate can be obtained.

AFFINITY DISCOUNT (FOR FIRST RESPONDERS/VETERANS):
• Copy of police/fire/paramedic/military ID card
• Copy of DD-214 for veterans
** This discount can apply to active and retired persons or anyone living currently under roof of the insured that may have served.

AUTO-COMPANION DISCOUNT:
• Copy of auto policy with same agency listed on it

REPORTING BURGLAR/FIRE ALARM DISCOUNT:
• Copy of alarm certificate from monitoring company
• Paid receipt from alarm monitoring company

*** All discount items pertaining to Affinity, Builder discounts, Alarm Discounts, or Auto-companion discounts must be supplied within 30 days of the effective date of the policy or such discounts will be removed from the policy and will not be able to be re-applied until the following renewal period.You can supply these discounted proof items throughout the policy period; however, it will only be applied to policies that did not earlier request and then fail to supply such items to our U/W team.

ONCE ALL ITEMS ARE UPLOADED TO THE DOCUMENTS SECTION WITHIN EACH POLICY PLEASE EMAIL: SUPPORT@ORION180.COM ADVISING THAT ALL ITEMS HAVE BEEN SUBMITTED ALONG WITH THE POLICY NUMBER IN THE SUBJECT LINE SO OUR TEAM CAN BEGIN THE REVIEW/APPROVAL PROCESS.
Non Admitted HO3 Underwriting Overview (Refer to complete U/W guide for details) 07.2021