You are able to search permits with mostly every county. Additionally not sure in your state but FL I require a 4pt inspection is required on homes over 30 years old.
In AR, does State Farm has a different policy form that allows a home to be insured for less than the true replacement cost? 2012 brick veneer home- 2365 sq foot- they have insured for 226k… the policy form says A2 replacement cost-common construction. It is on a HW-2104 policy form if that helps identify anything. Perhaps is named peril coverage? It’s not even close to 80% of this RCE I have pulled
member 413 State Farm uses its own calculator for RCV. So whatever calculator you are using is not the same. This also depends on when the policy was written. The ERC is not manually recalculated at every renewal. Example if the policy was written in 2012, the replacement cost obviously will calculate higher today than it did 14 years ago. State Farm policies automatically carry an additional percentage of coverage for RCV if a claim occurs. This is not optional and included in every policy. Underwriting will increase coverage every year to account for inflation. Unless they removed the inflation guard from their policy, which some people request. If the policy was written under the calculated RCV then it would not say replacement cost. (Staying anonymous because I have received the nastiest comments in this group because I work for an SF agent and I am not in the mood for that bullshit today).
$100 a sq ft watch the SF peps justify this and then say “it’s got ERC”. No it doesn’t. It’s got $100 a sq ft and a useless endorsement the pay for and can’t use.
Had a quote request for a customer in NM. It’s an older home (1950-60) and the roof is a derned T-Lock shingle roof. Openly would decline based on roof, American modern same decline (unless granted exclusion), so I went surplus (roughly 2200 but can go down a lot). Well lender said customer got a lower quote and is going with either Openly, American Modern, or Farmers (didn’t specify). Did I look at the risk too hard and should ha
Farmers will write with 2% deductible if under 30 years old
I wouldn't have wasted my time!
Florida indy agents: I have a TX customer whose son (22/23 yrs) is going to grad school in FL. He just got his FL license, but auto carrier in TX (progressive) said since he’s non-dependent & drives mom/dad vehicle that is currently title/registered in TX, would need to get insurance in FL -rather than just changing garage location for that vehicle to where he is in FL… Questions: wouldn’t the vehicle need to be tagged/registered in
Yes he will have to register the vehicle in his name in Florida. But parents would have to sign over to him. If not then the parents can be named insureds since they own car and he can be listed as a driver… He will need to get the FL insurance first t
I had this conversation with a realtor in town once and they looked at me like I had a third head. Just a blank stare back at me.