Archives for TDP3

The Longhorn Dwelling product makes quoting any Texas dwelling policy very easy. Whether your client needs a TDP1, TDP1 Plus, or TDP3 you can quickly get a quote using the same easy process.

To ensure you get our best possible price for your client, though, be sure to add the details on any dwelling improvements. A dwelling built in 1950 whose heating was completely updated in 2005 will get a much better price than the same dwelling with no updates.

With the ability to cover properties of to 100 acres, any protection class, up to $550,000 value and a monthly pay option, the Longhorn dwelling program can meet many of your clients’ needs quickly and easily.

Learn more about the Longhorn dwelling program.

We are amused by large insurers spending their time and money advertising how claims caused by mayhem are covered by their policies. The ads truly are funny, but we laugh because we have yet to see a scenario advertised that would not be covered by most any auto policy.  So, we’re left asking “where’s the beef”?

Well, we have been listening to our agents, and based on your input we put some serious beef into rental dwelling policies. Our new Longhorn Dwelling program includes coverages and options that have all but disappeared from the rest of the market especially when combined into a single policy.

Here just a few of these additional coverages that are now available to your clients.

Available on any new Longhorn Dwelling policy:

  • TDP1 and TDP3 Form options
  • $500 deductible option
  • Up to 2 owner-occupied dwellings on a single policy
  • Mortgagee or Direct Bill options, with up to 9 monthly installments

Available on all Longhorn Non-Admitted Dwelling policies:

  • Up to 9 tenant-occupied dwellings on a single policy
  • No deductible for Fire and Lightning claims
  • Optional deductibles up to 5%
  • Automatic hail resistive roof credits without documentation
  • Corporate named insureds, partnerships, and LLC’s eligible
  • A new TDP1 Plus package option that includes replacement cost and additional extended dwelling coverages
  • Optional extended vacancy clause – up to 3 months’ vacancy coverage without cancellation or rewrite
  • Optional liability and medical payments coverage available on properties up to 100 acres
  • Slide, diving board and trampoline liability buyback options available
  • Owner occupied mobiles homes eligible (depending on age)
  • Rewarding new credits:
    • Senior/Retiree
    • Age of Roof
    • Age of Dwelling
    • Fire and Burglar Protective Devices

Available only on Longhorn TDP1 policies:

  • Coverage for tenant-occupied mobile homes

Available only on Longhorn TDP1 Plus and TDP3 policies:

  • Vandalism & Malicious Mischief automatically included
  • Limited foundation and water back up automatically included
  • Limited mold coverage automatically included

Of course we can’t possibly list all the options or terms and conditions here, so be sure to quote a Longhorn Dwelling program policy as soon as possible and see for yourself just how much beef is really there.

Most owner-occupied Longhorn Dwelling policies will continue to be issued through San Antonio Indemnity Company. All other Longhorn Dwelling policies will be underwritten by Lloyd’s of London which is non-admitted in the State of Texas.  However, Lloyd’s of London is rated “A” by A.M. Best, and known the world over for their security and innovative insurance products.  For example, they insured Betty Grable’s legs and Bruce Springsteen’s vocal cords.  They also insure tens of thousands of Texas houses and have been doing business since about 1688, so they’re very solid. We’ll automatically include the appropriate notices with any renewals switched from SAIC to Lloyds, of course, so you wont’ have to do anything special with those.

We thank you for the opportunity to continue to provide you and your clients leading insurance products for rental properties.  We hope that we may serve you for years to come.  We promise to continue to innovate and improve our product offerings to earn that privilege.  We’re putting the beef back into insurance!

So please quote a Texas Longhorn TDP and let us know how we are doing.

Different MobileHome owners have different needs. That’s why at iMGA we offer three different ways for you to protect your MobileHome customers:

  1. A TDP3 Policy. That’s right – if you’re looking for special risk coverage for the dwelling you can provide a TDP3 policy for a MobileHome. This is particularly good for insureds with higher value MobileHomes since dwelling limits of up to $300,000 are available in this program. It’s also a great choice for those who might need additional Loss of Use coverage. (Loss of Use coverage is 20% of the dwelling amount on a TDP3 but only up to $100 per month on a MobileHome policy.) A TDP3 also provides coverage for the peril of wind-driven rain, which is not available under other forms.
  2. A MobileHome Policy. Of course we offer a traditional MobileHome policy also. This offers a good alternative for insureds where the contents value is up to twice the dwelling limit and the total value of the dwelling and all building additions is less than $75,000.
  3. A TDP1 Policy. In cases where the dwelling is ineligible for either a MobileHome or TDP3 policy we may be able to accommodate the risk on a TDP1 policy, giving you a coverage option for an otherwise difficult-to-place risk.

No matter what your client’s MobileHome needs are, iMGA offers a great way to provide them with appropriate coverage.

You might be surprised to learn that there are cases where – even for a homeowner – an iMGA Texas Dwelling Policy (TDP3) with liability coverage added offers more coverage than a Texas Homeowners policy (either HOA or HOA+). As a professional independent insurance agent it is important that you know the differences so you can offer the coverages that best fit your clients’ needs.

Where an iMGA TDP3 Policy is Better

  • Covers all perils not excluded (commonly known as “All risk” or “open perils” coverage) vs. named perils on HOA/HOA+
  • Loss of Use Coverage – 20% vs. 10% for HOA/HOA+.
  • No deductible for Fire and Lightning, and only one deductible. HOA/HOA+ has a deductible on all perils including fire and lightning and a separate deductible for wind and hail losses.
  • Wind-driven rain IS covered. It is not on an HOA/HOA+ policy.
  • There is no coverage for Fire, Lightning and Vandalism and Malicious Mischief after the dwelling has been vacant for 60 days. On an HOA/HOA+ policy there is no coverage for any cause of loss after vacancy for 60 days.
  • There is no subrogation clause. HOA/HOA+ policies do have a subrogation clause.

Where an HOA+ (“HOA Plus”) Policy is Better

  • TDP3 doesn’t provide coverage for business personal property,  property of guests or residence employees away from the premises. HOA/HOA+ policy does except for business personal property.
  • Both provide a 10% extension of personal property off premises. On the TDP3 this is not additional insurance and does not increase the personal property (Coverage B) limit.
  • TDP3 covers only utility failure under Consequential Loss. HOA/HOA+ covers loss due to change in temperature as a direct result of damage to the dwelling, equipment in the dwelling including damage to any power, heating or cooling equipment (including connections and supply pipes not in or on the dwelling under Consequential Loss.
  • HOA/HOA+ provides some Automatic Removal coverage and In-Transit coverage. The TDP3 does not.
  • The TDP3 does not provide glass breakage as a named peril insured against.
  • The TDP3 does not provide any coverage for theft of personal property.

Of course every policy can have unique conditions and endorsements, so it is important that you carefully read and understand all the policy language.

↑ Top of Page