the date of receipt of both application and minimum premium deposit.
4. A confirmation of coverage letter will be mailed to the agent.
5. It is the agent’s responsibility to inform the policyholder and mortgage company
of the coverage effective date.
5. Can an application be faxed?
Applications can be faxed to the FAIR Plan at 317-264-2395.
However, coverage will not be bound until the proper minimum premium
deposit has been received in the FAIR Plan office.
6. Are all risks inspected?
How long does it take for an inspection to be completed?
All new risks are inspected. This may take up to 30-45 days.
Renewals are inspected periodically.
7. Does the Plan write a renters policy?
Yes, a Dwelling Fire policy is offered.
Theft and Personal Liability coverage are not eligible under non-owner
8. Does the Plan write a condominium/townhouse policy?
No – The FAIR Plan does not offer building coverage
for a condominiums or townhouses.
Condominium /Townhouse contents are available
under a Dwelling Fire policy.
Theft & Personal Liability coverage are not eligible
under non-owner occupancy.
9. How is a FAIR plan policy cancelled?
The insured or agent must send in written request to cancel a policy.
Please state the date to cancel and the reason why policy is being cancelled.
Cancellation requests can be faxed to the FAIR Plan at 317-264-2395.
Refund resulting from cancellation is pro-rated and paid to the insured.
If a premium finance company has requested cancellation or a return in premium, then the premium finance comany will be added as a payee.
10. How does the FAIR Plan handle commissions?
The FAIR Plan pays a commission of 10%.
Commission statements are mailed once a month.