Condo Insurance
Start a New Quote
If you don’t already have your carrier credentials, make sure to submit “New Quote Service” form to your underwriter after inputting the quote.
Overview
Condo policies can be affordable and easy to sell with our partner carriers. For most carriers, you can sell multiple options and levels of coverage.
Many ways for clients to saveOur partner carriers offer a variety of discounts and incentives designed to reward and benefit clients, and help you sell and retain policies. Make sure you review the manuals to understand know all the discount rules and eligibility. | |
Explore value-add optional coverageWether it’s the Platinum tiers of Travelers and MetLife/Foremost or the Optima package for Safeco. You can find a way to build coverage unique to your insured’s needs. |
Multi-Policy Discounts – Auto & Condo are better together
Most of our partner insurance carriers are multi-line providers, offering both auto and home – and condo – insurance. Insure the entire householdSure, make sure your client’s cars receive comprehensive coverage, but you and your client both stand to benefit from bundling the both the auto and condo with the same carrier. It will lower premiums, offer convenience and help provide clients added peace of mind when sold as a package. |
Provide the service your customers expect
Take advantage of mobile service toolsToday’s customers prefer the option of doing business online. Take advantage of e-signature and ensure your customers are taken care of 24/7 online access to their carrier account and the Mobile, our smartphone app. Get started today! |
Underwriting
Our carrier partners are looking to insure responsible condo owners who practice prudent home maintenance and carefully maintain their property.
We rely on you to confirm eligibility requirements and provide disciplined frontline underwriting. Generally, if your customer is claim-free, the property will be accepted. If they have had multiple property claims in the last five years, or their condo unit is used for a permitted business, contact your Safeco® underwriter. If a condo unit is under construction, it is ineligible
What about earthquake?
California state regulations stipulate that insurance companies that sell residential property coverage in the state – including condo, dwelling fire, homeowners and renters – must offer earthquake coverage to their policyholders. Members can issue policies with CEA if the insurance carrier is a participant (eg. Nationwide, Safeco) or by submitting a request to underwriting or a mono-line Earthquake policy.
Pro-Tip:
The underwriting rules for condo and homeowners will be very similar. You an refer to the homeowners page, or the underwriting manual to get the underwriting rules.
Dedicated underwriting and supportHave a question about a particular policy risk? No problem! Our team of underwriters is dedicated to helping you get answers and getting your policy issued. To get in touch, call underwriting at (877) 334-7646 Ext. 106. To create a trackable ticket, submit a service form: Policy Service New Quote ServicePolicy Service RequestNew Quote Assistance |
Quoting
- The Basics of Quoting
We make it easy for our members get comparison quotes. Each member will be provided access to our online comparative rating platform offered through PL Rating®. Even if you don’t yet have your own carrier credentials, you will be able to quote in PL Rating® and refer the quote to underwriting to receive a bindable proposal for your insured.
PL Rating® will allow you to quote, auto, home, condo, renters, dwelling fire and motorcycle risks. All required fields are clearly marked. For the most accurate quote – and to avoid surprises later for you and your customer – ensure all fields and data are as complete as possible.
If you have carrier credentials, you can always go directly into the carrier to quote your risk.
Pro-Tip:
Presently there is no connectivity from PL Rating to the policy system (NowCerts). When you complete a quote, you’ll also want to login to NowCerts to add the prospect under your account. This will help in matching any policy issued to your customer for accounting, future service and system access. Always input the name, address, and contact information the same as you do in PL Rating or the carriers systems to guaranty accurate matching during the nightly policy download from the insurance companies.
Notable quoting tips:
- When quoting in PL Rating® create templates to help with coverage profiles and commonly answered questions.
- Eligible discounts are applied automatically based on information you have entered.
- PL Rating allows you to quote auto & home at the same time. Try to get all the information entered to quote a bundle when quoting. The most durable customers are those you bundle at the point-of-sale.
- Comparative Raters
Because we represent multiple carriers, we know that a comparative rater is the best tool for shopping auto and home insurance. As part of your membership we provide you access to PL Rating®. However, once you get your carrier credentials you are free to use any comparative rater you choose. Note: ITC TurboRater has a direct integration with our policy management system, and there is a workaround if you use EZLynx. Contact marketing if you need assistance.
Best practices for using comparative raters
- If available, use rater prefills to ease your workflow, but be mindful of unique customer attributes.
- Be specific when quoting Occupation and Education (where permitted by state). Selecting values such as Other may not give you an accurate rate.
- Some raters prefill the effective date with today’s date. If quoting for the future, set the effective dates in the future to take advantage of all available discounts (outside CA), unless the customer needs the coverage today.
- Multi-policy discounts may be worded as package, multi-policy or companion depending on the rater.
- Some carriers return quotes with discounts they are encouraging your to sell (eg. multi-policy or telematics). Make sure you remove them or get the final bindable quote from the carrier before you present it to the insured.
The more accurate the quote, the less follow–up work will be needed once you or your underwriter are in the carrier system. And you’ll provide a better customer experience with a policy and a price that represents the best solution to their insurance needs.
Things to remember post bridging from a rater to the carrier:
If you set defaults in carrier system or your rater to help with quoting efficiency, remember:
- If you set defaults the rater, the carrier system may override those values;
- Some default options in a rater may lead to selecting something you don’t intend. It’s best to avoid relying on defaults in the rater that are not coverage-related.
The bottom line: When you are diligent about gathering and entering your customer’s complete information up front – whether in the carrier system or the comparative rater – you’ll save time and potential frustration later. Relying too much on pre-filled information or skipping steps may lead to an inaccurate quote for the coverage your customer needs.
- Tips for Accurate Quotes
Our carriers offer various resources and reminders to help guide you in quoting and selling their products. Below are the basic themes from all these tools to help you get the most accurate quote.
- Property Losses & CLUE Reconciliation
With this process, you compare property losses from the CLUE (or other loss history) report with those that the customer disclosed and you entered in into PL Rating or the carrier’s system.
You can order the CLUE (or loss history) reports from the carrier quote process, and comparison and loss reconciliation provided to get the accurate loss history applied for final rating.
Service Request Forms
- Policy Service
Policy Service Request
- New Quote Service
New Quote Assistance
- New Help Desk Ticket
New Help Desk Ticket Request
Read Me: Service Requests
>Service Request Instructions
Policy Service:
Use this form if you need help with an existing policy. By submitting this form you will be creating a tracking ticket policy change request. After submitting the form you will get an email with your tracking number, and that can be used with anyone to check status, review history, and provide assistance.
New Quote Assistance:
If you have already completed a quote in the carrier system, PL Rating (Personal Lines) or Insureon (Commercial Lines) and want to receive quoting assistance or a bindable proposal, then complete this form. After submitting the form a tracking ticket will be created and sent to you via email. Your tracking ticket can be used with anyone to track the history of your request, or provide furhter assitance.
Help Desk Tickets:
This form should be used if you need assistance with carrier credentials, access to carriers or specific lines of business or need help with software. After submitting the form a tracking ticket will be created and sent to you via email. Your tracking ticket can be used with anyone to track the history of your request, or provide furhter assitance.
Pro Tip
Once a ticket is created you need to respond to the email where the ticket originated, or to any new subsequent email threads created by IronPoint team members provdiing service on your request. If you send emails outside the tracking system (eg. directly to an underwriter) then the tracking and history may be disrupted.