Homesite Homeowners Insurance Program Owner’s Manual

Homesite Homeowners Insurance Program

Specifications

• Product Name: Delos/Homesite Homeowners Program
• Coverage: Dwelling, Other Structures, Personal
• Property, Loss of Use
• Policy Type: Non-admitted HO3 policy with open
• perils coverage on the dwelling and other structures, named perils on personal property

Maximum TIV

• Coverage A: Dwelling – $3,000,000 maximum
• Coverage B: Other Structures – $70,000 to $1,500,000
• Coverage C: Personal Property – 1% to 20% of Coverage A
• Coverage D: Loss of Use – 25%, 50%, or 70% of Coverage A
• Minimum Annual Premium: $2,200 (typically $2,605.30 with taxes and fees)
• Minimum Earned Premium: 25%

Product Usage Instructions

Eligible Properties
The Delos/Homesite Homeowners program provides coverage for one, two, three, or four-family owner-occupied dwellings used as primary residences or seasonal/secondary residences.

Premiums and Discounts
Familiarize yourself with the minimum annual premium and discounts available. Discounts are automatically applied based on eligibility criteria such as recent home purchase, roof age less than 10 years, safety features like fire and burglar alarms, andnew construction status.

FAQ

1. Q: What is the minimum annual premium for the Delos/Homesite Homeowners program?
   A: The minimum annual premium is $2,200, typically totaling $2,605.30 with taxes and fees included.

2. Q: How are discounts applied to the policy?
   A: Discounts are automatically applied based on eligibility criteria related to property characteristics such as recent home purchase, roof age, safety features, and new construction status.

DELOS/HOMESITE PRODUCT & UNDERWRITING OVERVIEW

For Delos sales agent & broker distribution only. Additional forms and information can be found on the Resources page.

This document is intended to provide an overview of the coverages available in the Delos/Homesite Homeowners program. It is not inclusive of all guidelines, coverages, and exclusions. We evaluate the general aspects of every risk to determine its underwriting profile, uniformly reviewing policy characteristics. Homesite/Delos will provide coverage for a one, two, three, or four-family owner-occupied dwelling used as a primary residence or a dwelling used as a seasonal/secondary residence.

POLICY AND FORM COVERAGES

Delos/Homesite provides a non-admitted HO3 policy with open perils coverage on the dwelling and other structures and named perils on personal property. We write on A rated paper from Homesite (owned by American Family).

PROPERTY COVERAGES

| Limits
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Maximum TIV:| $3,000,000 maximum
Coverage A: Dwelling| $70,000 to $1,500,000
Coverage B: Other Structures| 1% to 20% of Coverage A
Coverage C: Personal Property| 25%, 50% or 70% of Coverage A
Coverage D : Loss of Use| 10%, 1 5%, or 20% of Coverage A

UNDERWRITING GUIDELINES

The following risks are not acceptable (not inclusive of all underwriting guidelines… see full guidelines at getdelos.com/resources):

Occupancy

• Homes that are not owner-occupied
• Homes that are vacant|
• Homes that are rented to others (this includes short-term rentals like Airbnb/ VRBO, and any other time-sharing lease or rental agreement)
• Business on the premises
• Commercial or retail farming on the premises
• Home daycare
• High profile individuals
• Properties with more than one home on the property (even if there are two separate addresses)
• More than 4 separate living units
• Number of families per unit > 2
• Number of roomers/boarders per family > 2

Dwelling Condition & Features

• Square footage over 5000
• Homes 100 or more years old
• Log homes or homes with wood roofs
• Mobile/modular/manufactured homes
• Homes supported by piers or stilts
• Homes with wood stoves or space heaters as a primary heat source
• Polybutylene pipes
• Underground fuel storage tanks
• Knob and tube wiring, aluminum wiring, or fuses
• Electrical panels from Federal Pacific Electric (FPE) Stab-Lok, Challenger, Pushmatic, or Zinsco
• Homes with ADUs
• Non-standard construction
• Residences that are not accessible to emergency vehicles year-round
• Homes with adverse conditions or hazards that display a lack of maintenance as identified through an inspection or otherwise.

Insurance/Claim History

• More than 2 losses in past 5 years
• More than 1 claim in the past 5 years due to all causes of loss other than the weight of ice, snow, sleet; windstorm; lightning; hail; earthquake; or flood.
• ‘Non-act-of-god’ fire claims) with cumulative losses >$10k in past 5 years
• More than 2 cancellations due to non- payment in the past 3 years
• SPP – not eligible if a theft or mysterious disappearance loss has occurred in the last 5 years.
• Applicants or properties with open claims
• Note: all claims/losses experienced by an applicant will be considered in the underwriting process, regardless of the location of the claim/loss.

MINIMUM PREMIUM

• The minimum annual premium is S2,200 (typically S2,605.30 with taxes and fees).
• The minimum earned premium is 25% (Per the MINIMUM EARNED PREMIUM ENDORSEMENT – HS 80 93 GE 02 21)

DISCOUNTS
Discounts will be automatically applied based on eligibility. The amount of discount is dependent on property characteristics.

• Welcome Home: Customers who recently purchased a new home.
• Safety First Discount: Fire and burglar alarms must have central station or direct notification to be eligible (Certificate of monitoring required).
• Roof It Over Discount: For homes with roofs less than 10 years old
• Better Together Discount: For Gold and Platinum endorsement packages (Not available for secondary homes).
• New Construction Discount: For homes less than 10 !ears old,

BILLING

Payment method|

• Credit card
• Electronic check (ACH)
• Escrow

All payments must be made electronically unless being paid by a mortgagee or escrow holder.

---|---
Types of billing| Direct or escrow (no agency bill)
Payment due dates and installment options|

• 1  pay : Full payment due upon bind (except for escrow payments, which can be received later)
• 2 pay: The down payment is 70% of the premium, plus the policy fee, inspection fee, stamping fee, and CA surplus lines tax. The remaining balance is due 6 months from the effective date**
• 4 pay: The down payment is 40% of the premium, plus the policy fee, inspection fee, stamping fee, and CA surplus lines tax. The remaining balance will be billed in 3 quarterly installments starting 3 months after the effective date**

***$20 fee per installment for 2-pay & 4-pay**

Bind date| As early as 12:01 am the next day (no back-dating), or as late as 60 days in the future.
**Recurring fees & taxes**| The policy fee, stamping fee, and state tax are charged every year. Inspection fees are only incurred when inspections actually happen.

DEDUCTIBLES

• All other peril (AOP) deductibles available are $2,500 or $5,000.
• Wind/Hail deductible (mandatory) must match AOP deductible. Options are $2,500 or $5,000.
• Wildfire deductible minimums are 2%, 5%, 10%, or 15% and are assigned based on property location.

CLAIMS
Claims are handled by the parent company American Family. In the event of a claim, please call American Family at 888-823-3567, extension 9.

ADDITIONAL INCLUDED COVERAGES (see more optional coverages on the next page)

Debris Removal| Provides an additional 5% of the limit available for such expense. And, up to $1,000 aggregate per occurrence for removal of trees felled by the peril of windstorm or hail, weight of ice, snow, or sleet.
---|---
Trees, Shrubs, and Plants| Provides up to 5% of the limit of liability that applies to the dwelling for all trees, shrubs, plants, or lawns. No more than $500 of this limit will be paid for any one tree, shrub, or plant.
Loss Assessment| Provides up to $1,000 of loss assessment charged during the policy period.
Ordinance Or Law| The included amount is 10% and it can be increased up to 25%.

LIABILITY COVERAGES

a bite history or exotic animal, animal liability will not be available and we will limit Coverage E to $100,000 & Coverage F to $1,000).
Swimming Pool| $25,000 Limit Per Occurrence or Excluded (Dwellings are ineligible for the pool liability endorsement if there’s a pool with a diving board, a slide, or a pool not enclosed by a locked fence at least 4 feet high)

ADDITIONAL AVAILABLE COVERAGES (All endorsements not listed)

ADDITIONAL OFFERINGS, REQUIREMENTS & EXCLUSIONS

• At new business, homes 30 years old or older will be limited to $10,000 of water damage coverage using the Limited Water Damage Coverage Endorsement. If this endorsement is removed, the Water Damage Exclusion will be attached.
• Homes with roofs older than 10 years will have the Actual Cash Value Loss Settlement Windstorm or Hail Losses to Roof Surfacing (HS 04 93) endorsement included.
• Gold Endorsement Package includes: 25% ERC on Cov A, “All-Risk” Personal Property Coverage, Refrigerated Property Coverage, and $5,000 Limited Water Back-Up (not available for secondary homes or multi-family homes).
• Platinum Endorsement Package includes: the same items as Gold, 50% ERC on Cov A, $10,000 Limited Water Back-Up and Ordinance or Law coverage of 25% (not available for secondary homes or multi-family homes)
• The named insured cannot be a trust, LLC, LLP, or estate. US-based trusts, LLCs & LLPS can be added as additional insureds with a post-bind endorsement. For details, please see the document “Insureds vs Interested Parties on a Delos/Homesite policy”.

INSPECTIONS

• All homes/properties are subject to an external inspection with a wildfire/brush supplement. Refusal of inspection may result in cancellation.
• Properties meeting the following criteria are also subject to an internal inspection: Coverage A > $499K, or age of home > 29 years
• Please be aware:
  • If inspectors determine that the dwelling replacement cost exceeds $1.5M, a cancellation will be issued
  • If inspectors determine that the replacement cost of other structures exceeds 20% of Coverage A, a cancellation will be issued
  • If inspectors observe that the roof has debris, moss or granular loss, a cancellation may be issued until proof of repairs can be provided
  • If inspectors are unable to reach the insured to arrange a home inspection, the policy may be canceled

BINDING MORATORIUMS

•  Agents will be notified via email when a binding moratorium is implemented and when rescinded.
• Moratoriums will be applied on a zip code basis.

References

• Resources

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