Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The insurance company employs an underwriter who will look to see if the home meets the criteria for a “standard risk.” Most insurers do not like to insure any home that they don’t consider standard. At renewal they are likely to surcharge a residence if there was a recent claim. There are other ways that the premium is affected. The insured could select more extensive coverage, or removal of limitations or exclusions (water backup is an example.) The company will usually reduce the premium if the insured selects a higher deductible, or installs a central station alarm system.
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The insurance company employs an underwriter who will look to see if the home meets the criteria for a “standard risk.” Most insurers do not like to insure any home that they don’t consider standard. At renewal they are likely to surcharge a residence if there was a recent claim. There are other ways that the premium is affected. The insured could select more extensive coverage, or removal of limitations or exclusions (water backup is an example.) The company will usually reduce the premium if the insured selects a higher deductible, or installs a central station alarm system.