Today’s house fires burn eight times faster and produce 200 times the amount of smoke compared to fires 50 years ago. This increase is a direct result of homes being furnished with modern technology and oil-based products.
Extreme losses resulting from fires, floods and storms can lead to severe claims which often set off alarms for standard market carriers. Claims frequency is another common issue, as typically insurers expect a homeowner to make less than one or two claims in a decade. When clients exceed this threshold, they may be deemed high-risk. These are just two of the numerous factors that can put a home in the hard-to-place category, along with payment issues, nonstandard mortgages or high-profile inhabitants.
Homeowners and Dwelling Coverage can be customized to protect your clients who face a broad spectrum of hard-to-place exposures.
The advantage of owning a condo is that you become a shareholder in a property from which you “share” access to common areas. However, this benefit does not come without risk. Although condominium associations carry insurance policies, they typically only cover items that are part of the building, including the common areas, parking lots, and swimming pool. Condo owners can also be held personally liable for injuries to visitors or for damage accidentally caused to other property including their neighbors. In addition, your clients need to ensure that their personal possessions in the condo are protected.
Burns & Wilcox can provide access to Condominium Unit Coverage which is required to protect your client’s personal property and any parts of their unit that aren’t covered by the condo association’s insurance policy. As a leader in providing excess and specialty insurance, we can provide you access to coverage for owner-occupied, tenant occupied and rented condominium units. Combined with our outstanding expertise and service, Burns & Wilcox is the only personal insurance wholesaler you need.
Course of Construction
The risk of property damage while you’re a home is under construction is a significant concern for property owners. Damage can result in severe, unexpected costs which can delay the building process or halt it entirely. Course of Construction insurance (often referred to as “Builder’s Risk”) provides a specialized form of insurance designed to insure against repair or replacement costs while construction is underway and, in some cases, for a specified period afterwards.
Course of Construction Coverage through Burns & Wilcox can cover your clients’ personal property while under construction, as well as property at off-site storage locations and in transit. As a leading provider of wholesale insurance, the experienced professionals at Burns & Wilcox can deliver insurance solutions that meet the unique needs of your clients.
Difference in Conditions (DIC)
An All-risk policy can exclude certain perils that your client may need covered. For example, floods are excluded from a homeowners policy. However, if your client lives in a flood zone, they will encounter different conditions and require supplemental coverage. Having the right add-on coverage can help meet the unique needs of your clients related to these conditions.
Burns & Wilcox offers Difference in Conditions (DIC) Coverage as an extension to an all-risk policy which adds perils that are typically excluded. As each DIC policy is unique, it is important that you work with professionals who understand how to obtain policies that properly supplement your clients’ existing coverage. We can arrange for the customized insurance policies for each of your clients’ unique needs. Coupled with our extremely fast submission response time and low minimum premiums, Burns & Wilcox is one of the leading providers for excess and specialty insurance.
When an earthquake hits, most people understand that damage to their property is a possibility. However, many people assume that their homeowners insurance will cover the cost of damages, which isn’t always the case. A specially-designed stand-alone earthquake policy ensures that your client is protected from the financial fallout of an earthquake.
Earthquake Coverage through Burns & Wilcox can protect your clients’ property and personal belongings after an earthquake hits, including landslide coverage and difference in conditions. As a leading provider of wholesale insurance, the experienced professionals at Burns & Wilcox can deliver insurance solutions that meet the unique needs of your clients.
Renters Coverage through Burns & Wilcox
Coverage for your clients who rent property
Renting a home, condo or apartment is often easier and less costly than owning a property. Renters are not required to take out a mortgage, pay for property maintenance or purchase homeowners insurance. However, the landlord’s insurance policy generally only covers the actual house, apartment or condo, leaving the tenant’s personal property and personal liability exposed to insurance risks. Obtaining Renters Coverage, often referred to as a Tenants Policy, can help mitigate the costs of replacing or repairing your client’s personal belongings, such as televisions, jewelry, computers and furniture. It will also provide liability coverage in the event they are found negligent, liable or presented with a lawsuit.
Burns & Wilcox can provide access to Renters Coverage which provides specialized coverage for a broad range of tenant occupied apartments, condominiums, and homes. As a leading provider of wholesale insurance, the experienced professionals at Burns & Wilcox can deliver insurance solutions that provide both peace of mind and security.
Burns & Wilcox provides Hard-to-Place Homeowners Coverage targeted for properties that are not properly serviced by the standard insurance market. Contact your nearest Burns & Wilcox office today to ensure your client’s specific needs are being met.
Coverage Details and Features
- Dwelling limits starting at $200,000 and up
- Three coverage options available:
- Comprehensive Form
- Named Perils Form
- Broad Form
- Personal Liability and Umbrella Coverage available
- Includes replacement cost for contents
- Can cover if prior coverage cancelled for non-payment
- Homes with multiple claims considered
- Two or more mortgagees accepted
- No prior insurance experience required
- Private lender homes accepted
(including but not limited to)
- Primary homes
- Homes with minor maintainance issues
- Homeowners with financial instability
- Homeowners with poor credit history
- Homes under construction
- Unprotected dwellings
- Standalone seasonal homes
- Standalone vacation homes
- Homes with poor claim history
- Lower value homes
- Rented dwellings
- Condo owner & tenants
Ask an Expert
At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.