Posts Tagged ‘vacant dwellings’

The iMGA Vacant Dwelling program has been on the street for a couple months now and selling very well. As usual, though, we’ve been listening to our agents’ suggestions for improvements and have already implemented several. Some highlights of the Vacant Dwelling program changes include:

• Contents coverage is now available
• Up to 9 dwellings can now be scheduled
• Up to 10 mortgagees can now be scheduled
• A roof exclusion is an option if needed
• Tier 1 coverage is available (as long as the insured has separate wind and flood policies)

Of course iMGA programs can be quoted and bound online, within minutes (literally – please challenge us!) in most circumstances. Should a referral be required our underwriters are fast to respond and will work with you to solve your customers’ unusual needs.

To quote this or any other iMGA program, simply  log in to the iMGA web site, select “Online Quoting”, choose “Start All Quotes Here” as the Line of Business, and in just a couple moments you’ll have a price you can rely on.

As always, if you have any questions about this or any of our other products, please call Tony at extension 12 or Mike at extension 13 and they’ll be glad to help you.

At iMGA we have been asked a lot about the ability to insure mobile homes, rental dwellings, vacant dwellings and homes where the legal owner is a partnership, trust, corporation, estate or other legal entity.

In keeping with our mission to make every part of the process as easy as possible for our agents, iMGA is open to various types of named insureds on all of our policies – even if the policy includes liability coverage.

So, go ahead and place that partnership, LLC, LLP, corporation, estate or trust-owned property with us and free up some time to focus on something else instead. Plus, if it’s a TDP1, TDP3 or Vacant/Remodeler policy, you can put up to 9 dwellings on the same policy. Log in now and see just how easy it can be.

According to the U.S. Census bureau the first quarter of this year 1 in 9 U.S. homes – more than 19 million – were vacant.

Are any of those homes owned by your clients?

iMGA is proud to help fill this growing need with our new Vacant Dwelling program. Designed for Texas homes with current or post-renovation values up to $300,000, this program is designed to help meet this significant need.

This is an ADMITTED Vacant Dwelling program. As with all iMGA programs, the Vacant Dwelling product is EASY to quote and issue.

There are many reasons someone might own a vacant home:

• Found a bargain and is waiting for the market to turn.
• Is renovating the property for future rental or resale.
• Had to move but couldn’t sell.
• Inherited a property and haven’t decided what to do with it.
• Was renting it out but decided they didn’t like being landlords.

There are even more reasons to use iMGA’s admitted Vacant Dwelling product:

• 6-month and 12-month terms available (50% minimum earned premium)
• Corporate entities (LLCs, LLPs, etc.) eligible
• Renovation coverage available – including $5,000 for theft of unattached materials
• Dwellings valued up to $300,000 and on up to 5 acres are eligible
• Up to $300,000 liability coverage available on each dwelling
• No reporting requirements – limit based on completed value including renovations
• Unique admitted program offering using TDP1 policy form
• Underwritten by San Antonio Indemnity Company and backed by their B++ A.M. Best rating
• Direct-billed with paid-in-full and up to 8-pay installment options available
• Older roofs can be excluded
• Up to 9 dwellings on a single policy (unless mortgagee billed)
• Fast, EASY quoting and instant policy issuance (for qualified properties)

So, next time you have a customer with a vacant dwelling for whatever reason, login and quote their Vacant Dwelling coverage with us.

We are proud to be able to help meet this need – and proud to work with fantastic texas agents. As always, if you have any questions about this or any of our other products, please call Tony at extension 12 or Mike at extension 13 and they’ll be glad to help you.