******IMPORTANT NOTICE TO AGENTS******
Please visit the Agent Bulletins page for information on new Indiana FAIR Plan forms and procedures
****** IMPORTANT NOTICE TO AGENTS ******
NEW PRODUCT FORMS AND POLICIES WILL BE OFFERED BY THE INDIANA FAIR PLAN FOR NEW POLICIES AND RENEWALS EFFECTIVE APRIL 1, 2014.
EFFECTIVE APRIL 1, 2014, THE PLAN WILL BE INTRODUCING A DP-2 BROAD FORM DWELLING FIRE POLICY AND WILL BE ALSO BE INTRODUCING HOMEOWNERS HO-8 MODIFIED AND HOMEOWNERS HO-2 BROAD FORM.
* Residential dwellings will be written with no co-insurance requirement. In the event of a covered loss, settlement will be based upon actual cash value.
* Coverage limitations, exclusions, and conditions are described in each policy form. The policy language describes the coverage provided. No replacement cost coverage is offered.
* HO-8 and HO-2 will be available to owner occupied only, subject to underwriting.
* Liability and theft coverage will no longer be available for new Dwelling Fire policies issued on or after April 1, 2014.
* Existing owner occupied, Dwelling Fire renewal policies will have the option of applying for Homeowners policy at the time of renewal.
* Policyholders that choose to maintain their existing DP-1 policy may elect to continue the liability and/or theft coverage until their 2015 renewal date at which time liability and theft coverage will no longer be available under Dwelling Fire policy forms.
* The addition of these new product forms will provide additional coverage options to consumers seeking broader insurance coverage protection. The homeowner policies are only available to owner occupied applicants that meet underwriting guidelines.
Please be advised that all applications for a homeowner’s policy will require a new application, a new inspection and will be subject to underwriting guidelines.
Please refer to the Product Comparison chart that can be found on the Printable Forms Page in the Agent’s Section. We will begin accepting new applications for the DP-2, HO-8, and HO-2 policy forms on policies effective April 1, 2014 or after.
If you have any questions please call Jim at 317-692-0563.
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