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I am wondering of any homeowners carriers that you are aware of will allow binding the effective date of the quote? A carrier would not honor the quote effective date and I was wondering if this is common practice.

Thanks for your help!

A quote is just that...a pricing indication. The vast majority of carriers where an agency has direct access to the quote/bind platform require underwriting info to initiate coverage and will not back date coverage from a quote date.

Whatever your capacity in this business...owner, agent, csr...you quickly need to get clear on any company's quote and bind requirements before you do harm to an insured, a carrier, your e & o carrier or most importantly, yourself.

Thank you for your response. My specific question is, does anyone know of carriers that will bind coverage the same day of the quote? Some carriers specify that if I quote a customer today, the earliest coverage will be effective would be tomorrow, which does not help the insured if they want coverage effective today. Will any carriers allow quoting and binding effective today, say if someone paid cash for a house and was not required to obtain insurance to close?

Thanks again for your response!

Which state are you in? There're a lot carriers allow same day binding in California. Some may issue the policy effective the next day, but binding coverage when the agent receive everything - signed apps, payment etc - and click "bind".

Currently I am in Florida.

Thanks for your response!

I am also in Florida, out of 18 carriers, only 1 holds binding until next day. All the others can be the same day as quoted (if day is today). If I quoted 3 days ago, I have to bind with the current date of today or in the future.

Sure, I do it frequently. In some cases you can even back date coverage. Depends on the company.