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 C - Personal Property: The standard limit included is 50% or more, but can be increase if more coverage is needed.
Coverage D - Loss of Use: The standard limit included is 20% or actual loss sustained, 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.
Replacement Cost on Personal Property: This endorsement should always be added if available in every case.
Animal Liability: This endorsement should be added if the client has any animals and given a minimum limit of 25K coverage but should have 100k if available.
Sewer or Drain Backup: This endorsement should be added and given a minimum limit of 10k coverage but should have 25k if available.
Personal Injury: This endorsement should always be added if available in every case.
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.