Coverage Guidance: The following will help to choose the coverage limits and endorsement on the policy.
Standard Coverage:
Coverage A - Dwelling: Based on the RC Estimator, this is the amount of coverage need to replace the home in case of a total loss aka reconstruction cost.
Coverage B - Other Structures: The standard limit included is 10% and should be increase in case the others structures value is greater than 10%.
Coverage E - Personal Liability: The standard limit is 300K, but can be increase if more coverage is needed.
Coverage F - Medical Payment: The standard limit is 5K, but can be increase if more coverage is needed.
Other Coverages & Endorsements:
DIC Endorsement: This endorsement if available should be added in case the home does not pass brush requirements & a Fair Plan policy need to be written.
Replacement Cost on Dwelling: This endorsement should always be added if available in every case.
Extended Replacement for Dwelling: This endorsement should always be added with a minimum of 125% but can be increase to 150% if needed.
Deductible: The standard deductible we should be quoting is $2500, however rates for different deductibles can be given to the client so they can choose what they prefer to have in case of future loss.