Foremost Insurance Expands Dwelling Fire Program in 3 States

December 1, 2009

Foremost Insurance Group announced it is expanding its dwelling fire program in Montana, Nebraska and Tennessee, effective Dec. 1, 2009.

Typically known as the solution for hard-to-place landlord and owner-occupied properties, Foremost is enhancing its program to include standard and preferred business.

Montana

In Montana, all new business will be written on new Dwelling Fire One or Dwelling Fire Three policies, while current customers will be moved into the new program at renewal.

The company will accept: Vacation rental properties; Homes with open foundations; Customers who have had a lapse in coverage; Customers with up to five losses.

In Montana, some of the changes to the dwelling fire program include:

  • Overall rates are decreased on average by 15 percent for Dwelling Fire Three policies and 5 percent for Dwelling Fire One policies.
  • Credit is being used as a rating parameter for landlord business with a discount of up to 10 percent for Superior Financial Responsibility.
  • Homes up to 15 years old may qualify for an Age-of-Home discount up to 25 percent.
  • Owners with another Foremost, Bristol West or Zurich policy may qualify for a discount.
  • Owners without prior claims may receive a discount.
  • Owners using a Property Management Company may receive a discount.
  • Landlord Association members may receive a discount.

Nebraska

In Nebraska, the company now accepts: Vacation rental properties; Homes with open foundations are now eligible for Dwelling Fire Three.

Some of the changes to the dwelling fire program in Nebraska include:

  • Financial responsibility is being used as a rating parameter for landlord business.
  • Owners may qualify for a discount of up to 10 percent (new business only).
  • Owners with another Foremost, Bristol West or Zurich policy may receive a 5 percent discount.
  • Owners using a Property Management Company may receive a discount.
  • Landlord Association members may receive a discount.
  • Landlords who conduct tenant screening may receive a discount.

Tennessee

In Tennessee, the company will now accept: Customers who have had a lapse in coverage; Customers with up to five losses.

Some of the changes to the dwelling fire program in Tennessee include:

  • Base rates for Landlord business are decreased.
  • Credit is being used as a rating parameter for landlord business with a discount of up to 25 percent for Superior Financial Responsibility. Other Financial Responsibility scores will receive base rates.
  • Homes up to five years old may qualify for an Age-of-Home discount up to 26 percent.
  • Owners with another Foremost, Bristol West or Zurich policy may qualify for a discount.
  • Owners using a Property Management Company may receive a discount.
  • Landlord Association members may receive a discount.

Source: Foremost Insurance, ForemostSTAR.com

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