States: All States
Effective Date: 5/1/22 New and Renewal
In a recent agency bulletin, we announced several corrections and form additions to our Homeowners line of business. We appreciate our agency partnerships and have listened to your valuable recommendations. As a result of your feedback and our ongoing commitment to offer competitive products, we are making the following changes:
- Actual Cash Value Loss Settlement for Windstorm or Hail Losses to Roof Surfacing, HO 04 93, is being removed as a mandatory form to all HO6 policies.
- Limited Loss Settlement for Windstorm or Hail Losses to Roof Surfacing, HO 06 46, is being removed as a mandatory form to all HO2, HO3, and HO9 (HO3 policy with form HO 05 30 attached) policies.
A small number of Illinois and Wisconsin homeowner policies have renewed with the above-mentioned forms. We are adjusting those policies and will resume homeowner renewals once the changes are in place. We will reach out to agents who had policies that renewed and were affected.
As a reminder, we will be implementing the following changes and additions to homeowner policies effective 5/1/2022 for new and renewal.
Corrections:
02-186 12/21 Homeowners – Additional Extensions of Coverage
Additional Coverages - Tree Debris Removal - The limit shown for this extension of coverage has been shown as $1,000. It should be $100. Claims will be settled at the current policy language until the correction is implemented at renewal.
We will be sending a Notice To Our Homeowner Policyholders – Revision Of Form No. 02-186, Homeowners – Additional Extensions Of Coverage (PD 06 00 12/21) to all Homeowner policyholders to advise of this correction at renewal.
PD 00 97 12/21 Coverage Plus (all states but Iowa)
PD 04 78 12/21 Coverage Plus (Iowa only)
Tree Debris Removal – The limit of liability has been shown as “is increased to $300”. The word "to" has been changed to "by".
Form Additions:
HO 04 81 03/22 (all states but Indiana)
HO 04 81 05/11 (Indiana only)
Actual Cash Value Loss Settlement is being adopted and will be used at the underwriter’s discretion.
Notice to Homeowner Policyholders, PD 06 05 01/22, will go out on any renewal to which form HO 04 81 has been added.
Thank you for your business.
This bulletin does not change the language of any policy. If there is a conflict between this bulletin and the policy language, the policy language will apply.