All Forum Posts by: Donald Stevens

Aluminum wiring is going to be an obstacle for insurance. You could buy from the specialty market but it is going to be a very high premium.

They are becoming more normal because courts are quick to side with the injured person. Ive heard of people teasing animals and being cruel, then when the dog bites they sue. I think your example is a great one. The problem with pets is not just the pets, but the people they encounter. Some people have dogs for home protection which flies directly in the face of insurance liability because of the ease of litigation. Not sure what a good solution is for that.

There are still some companies out there that do not exclude dog bites. Im not sure but SWBC might be a good option. Its an all peril policy and I dont remember seeing that exclusion in their contract. Im not sure which companies your agent has access to but sometimes it doesnt hurt to look around. Its a little work but if it saves you some money on the front end in premiums and the back end in claims coverage then it may be worth it.

I've never heard of dog bite only insurance. I think the reason is only people who would need it would buy it which would be a high risk pool. Insurance is for the unexpected. I believe the premiums would be so high no one would buy it. Could be why I havent seen it before. My advice would be that you may need to look for another carrier without this exclusion. It may be some hard work on your part but it will be easier than handling a claim yourself.

Just my opinion.

When the roof is not up to the carriers standards, its hard for them to carry the policy because of the risk it poses to the carrier. They want to pay ligitimate claims but do not want to insure a house that has a high chance of a claim.

I think you have two options. See if the carrier or the agent can put you with a fire only company. Its usually called a DP1. Its a very basic policy but will give you coverage for fire, lightening, wind, and hail. Its not going to be easy but could be done.

Your second option is the state fair plan. Every agent that writes homes has access to the company. It is a place for homes to buy insurance when no other option is available. Most state fair plans do not offer liability so you would have to purchase that seperately. You could buy that until you can fix the roof then switch back to a more standard carrier.

Just an idea for you to consider.

A few that we work with are SWBC, Foremost, and American Modern. They will all do a list bill "scheduled" policy. Its convienent because you get one bill instead of many and you can track all of your property coverages on a single policy. Plus there are discounts when the properties are combined so its a little less expensive to boot.

Most commercial companies use a single database so when one agent quotes you it "locks out" all other agents from quoting it. Not sure if its that way with Erie but it is with Travelers and Hartford.

In insurance a big factor in determining if someone is a GC is by how many reciepts minus contracted labor. If you contract out 70% of labor than the insurance company will call you a GC. GC insurance is relatively expensive because of the risk posed by mutliple contractors working on the job with multiple skill sets and reliability. The insurance company does not underwrite the contractors but they take the risk to some degree when the company insures the GC.

No matter what you call yourself, the work you do and how you pay people will be the main factors in the insurance companies classifying your business. You can say your a builder, or gc, or finished carpenter but your license, reciepts, and 1099's may tell a different story. Insurance companies are in the business of evaluating risk and new businesses are the most risky because the carrier doesnt have any history to evaluate the risk. Also your not the first contractor trying to get insurance so the companies can be pretty savy at determining what your business is and if they want the risk. Truthfully, if the business discription starts to sound "fishy" many agents will tell you they dont write that business when they actually do because they dont want to be "tricked" and then possibly lose a contract with the insurance company.

If it were me I would try Burns and Wilcox or an MGA like that. They dont write directly with the public but they can refer you to an agent that can quote your policy. If an agent works with B&W, they probably work with a few other MGA's so they can shop around for you. I believe USLI or maybe Lloyds or Zurich might be a good fit for you but they have to be purchased through an agent that works with one of the MGA's that offers one of those companies. You need a company willing to write insurance for a new contractor and these companies have a niche in the industry. After 3-5 years you can then get insurance with a traditional admitted company if you dont have any claims.

Yes there are. You want to talk to an independant agent that represents multiple companies. They write stand alone umbrellas and some companies like Safeco (offered by independant agents) will write the umbrella and they only need your auto insured with them. The "umbrella only" companies are a little less known but as long as they offer the coverages you are looking for and have an A rating or better then that will be your best shot.

Unfortanetly for you, this is a perfect example of why the cheapest insurance is not always the best.

In my opinion you have two things you need to do right away. Increase your liability limits to the amount of your exposure (how much you are worth=net worth) because that is what an attorney is going to sue you for. Also an umbrella would be a great addition.

Second, if you are being sued, did your insurance hire you an attorney for your defense? YOU NEED TO TALK TO AN ATTORNEY. You do not want to be accused of hiding assets from litigation. Also posting details online is not advised as it becomes public information.

Just my 2 cents.