I may be the only one to belive this way, but much of the homeowners cancellation problem(s) stem from “inspectors” who half do a job and a bad half at that. I had one policy non-renew because the inspector took a photo of “tree limbs handing over the roof.” He had photographed a shadow.
I can give many more examples.
If we are going to have inspectors, train them to do their jobs correctly, get the ISO to update the maps, and you will solve
the greater percentage of the problems.
The truth is a larger number of homeowners are not being renewed. Dog bites, false claims, unsafe homes,excessive theft and liability calims make good business sense. Cancelling a client because they file or just called about a water claim is wrong. Grouping water losses in the same pot as mold claims is wrong. Marking that home and client for future losses is wrong. Non renewing because of a credit report, without verification is wrong. What some in the industry are doing is cherry picking thier customers and hurting many good people.
In last 20 years, our agency didn’t have any problem with non-renewing issues unless insured lied or undisclosed the information. Most of inspectors are working diligently and carriers are usually reasonable when it comes down to non-renewal. Of course, they are also human being after all just like us and they do make mistakes occationally, however, 50/50% comparison is way too much. Do you really want to keep the risk that has over 30 yr old roof or with 2 claims in the last 3 yrs? Remember, We’re dealing with over hundreds thousands of dollar coverages. Just like the umbrella, property carriers should have some limitation also.
Joe, Completly agree with you, when an insured lies, withholds important information, has a 30 year old roof, cracked pavements & driveway, they should not be written or renewed. Same goes for dog bits, wild family teenagers etc. What I’m hearing people say is: they were cancelled because they reported a washer hose water loss. In some cases they were advised by thier agent not to report the loss, they were still cancelled because the agent reported the claim. I understand the big awards being paid in S. CA & Texas for mold damages, a rubber hose breaking will not lead to mold. By the way those claims should have never been paid, most policies exclude vice over a long period of time. As for the misuse of credit scoring, that battle will be fought for a long time. Don’t look now some lawyer is just waiting for a case where the credit report was wrong or of someone else.
I may be the only one to belive this way, but much of the homeowners cancellation problem(s) stem from “inspectors” who half do a job and a bad half at that. I had one policy non-renew because the inspector took a photo of “tree limbs handing over the roof.” He had photographed a shadow.
I can give many more examples.
If we are going to have inspectors, train them to do their jobs correctly, get the ISO to update the maps, and you will solve
the greater percentage of the problems.
The truth is a larger number of homeowners are not being renewed. Dog bites, false claims, unsafe homes,excessive theft and liability calims make good business sense. Cancelling a client because they file or just called about a water claim is wrong. Grouping water losses in the same pot as mold claims is wrong. Marking that home and client for future losses is wrong. Non renewing because of a credit report, without verification is wrong. What some in the industry are doing is cherry picking thier customers and hurting many good people.
In last 20 years, our agency didn’t have any problem with non-renewing issues unless insured lied or undisclosed the information. Most of inspectors are working diligently and carriers are usually reasonable when it comes down to non-renewal. Of course, they are also human being after all just like us and they do make mistakes occationally, however, 50/50% comparison is way too much. Do you really want to keep the risk that has over 30 yr old roof or with 2 claims in the last 3 yrs? Remember, We’re dealing with over hundreds thousands of dollar coverages. Just like the umbrella, property carriers should have some limitation also.
Joe, Completly agree with you, when an insured lies, withholds important information, has a 30 year old roof, cracked pavements & driveway, they should not be written or renewed. Same goes for dog bits, wild family teenagers etc. What I’m hearing people say is: they were cancelled because they reported a washer hose water loss. In some cases they were advised by thier agent not to report the loss, they were still cancelled because the agent reported the claim. I understand the big awards being paid in S. CA & Texas for mold damages, a rubber hose breaking will not lead to mold. By the way those claims should have never been paid, most policies exclude vice over a long period of time. As for the misuse of credit scoring, that battle will be fought for a long time. Don’t look now some lawyer is just waiting for a case where the credit report was wrong or of someone else.