Page 1

NEW JERSEY 2019 GUIDEBOOK


TABLE OF CONTENTS CONTACT INFO WHY SAGESURE? SAGESURE BY THE NUMBERS CARRIER STRENGTH PRODUCT OVERVIEW TIPS, TRICKS, TOOLS AND OTHER TIME-SAVERS


WE’RE HERE FOR YOU YOUR TERRITORY SALES MANAGERS Dennis D’Amico Territory Sales Manager (516) 272-2060 Dennis.Damico@SageSure.com Gary Cason Regional Vice President of Sales, Atlantic (757) 508-8707 Gary.Cason@SageSure.com

POLICY SERVICES Monday-Friday 8 a.m. to 9 p.m. EST; Saturday 10 a.m. to 3 p.m. EST (877) 304-4785, option 2 or PolicyServices@SageSure.com

CLAIMS (AVAILABLE 24/7) Occidental Fire & Casualty Company of North Carolina Call (800) 780-8423 or report online at www.IATInsuranceGroup.com/claims Occidental Flood Claims Call (800) 759-8656 or email Claims@FloodPro.net

AGENCY SUPPORT / CONTRACTING Marketing@SageSure.com

SAGESURE AGENT PORTAL https://agents.sagesure.com/

POLICYHOLDERS Visit MySageSure, our online customer care center at www.MySageSure.com


WHY SAGESURE? AT SAGESURE, OUR MISSION IS SIMPLE: PROVIDE HIGH-QUALITY, COST-COMPETITIVE PROPERTY INSURANCE TO UNDERSERVED COASTAL MARKETS. Our expertise and exclusive underwriting approach allow us to focus our efforts on catastropheprone areas. We plan for everything, so we’re ready for anything. At SageSure, writing coastal homeowners insurance isn’t just an accommodation…

...IT’S OUR SPECIALTY • We serve markets where the top 15 insurance carriers don’t offer capacity. • In just eight years, we’ve grown from one product in one state to 34 products in 14 states. • We are growing written premium by 30% annually in catastrophe-prone areas. With diversified offerings and a balanced spread of risk, SageSure provides long-term stability and profitability for our producers. In fact, we have never pulled business from any state, for any reason. We promise continuous capacity, so you can trust that…

...WE’LL BE HERE • Our products come from financially strong carriers, highly rated by A.M. Best or Demotech. • We have never filed more than one rate change per product in a single year. • We have never reduced producer commissions. We’re always seeking feedback to make our products more competitive and our producers more successful. Our in-house customer service team does everything from addressing underwriting concerns to collecting premium payments and more. It’s all part of our commitment to help producers…

...DO MORE IN LESS • We have invested in 60 significant software and feature enhancements in the past year. • Our SureQuote feature takes the guesswork out of product selection. • Producers can easily quote multiple product options using CopyQuote. • Our Customer Satisfaction team is dedicated to tracking, monitoring and reporting on claims.


SAGESURE BY THE NUMBERS


“Do what you do so well that they will want to see it again and bring their friends.� Walt Disney


WE’VE GOT YOU COVERED CHECK OUT ALL THE PRODUCTS SAGESURE HAS TO OFFER We proudly offer financially sound A.M. Best A- (Excellent) and Demotech A, Exceptional, rated residential property insurance products in 14 states. Below is a list of products we have available in each state by carrier. IAT (ADMITTED)

IAT (NON-ADMITTED)

Rated A- (Excellent) by A.M. Best

Rated A- (Excellent) by A.M. Best

ALABAMA

Occidental HO-3

Wilshire HO-3 | DP-3 | HWO

ALASKA

Occidental HO-3

CALIFORNIA CONNECTICUT

Occidental HO-3 | HO-5 Harco HO-3

FLORIDA LOUISIANA MASSACHUSETTS

Occidental HO-3

Wilshire HO-3

HO-3 Wilshire HO-3

MISSISSIPPI NORTH CAROLINA

Occidental HO-3 | HWO

NEW JERSEY

Occidental HO-3 | HO-5

NEW YORK

Occidental HO-3 | DP-3

Wilshire HO-3

Occidental HO-3 | HO-5 | HO-6 | DP-3

Acceptance HO-3

TEXAS

Occidental HO-3 | DP-3

Wilshire HO-3

VIRGINIA

Occidental HO-3 | DP-3

SOUTH CAROLINA

* Our Wilshire Insurance and Acceptance Casualty Insurance Company products are surplus lines only. This is a condensed overview of the product. It is not an insurance policy, nor does it provide complete eligibility information. Restrictions may apply. Information is subject to change. All risks are subject to underwriting approval and inspection. Please see detailed Underwriting Eligibility Overview (available in the Agent Portal at agents.sagesure.com). All products not available in all locations. Product authority is determined by master contract agreements. All policy jackets and policy declarations supersede this overview.


SERVICE

INDEPENDENT MUTUAL FIRE

FEDNAT

Rated A- (Excellent) by A.M. Best

Rated A- (Excellent) by A.M. Best

Rated A, Exceptional, by Demotech HO-3

Service HO-3 Service HO-3 | DP-3 | HO-5

HO-3

Service HO-3 | HWO

Service HO-3 | HO-5

MHO

HO-3 | HO-5

Pillar DP-3

HO-3 | MHO

HO-3


PRODUCT OVERVIEW CARRIER

OCCIDENTAL PREFERRED

SURPLUS

FORM

HO-3

ELITE | HO-3

HO-3

Financial stability rating

A- (Excellent) from A.M. Best

A- (Excellent) from A.M. Best

A- (Excellent) from A.M. Best

Primary homes

Yes

Yes

Yes

Seasonal / secondary homes (with or without primary)

Yes

Yes

Yes

Rental homes

See guidelines

See guidelines

Yes

Home sharing

Yes

Yes

No

Vacant homes

No

No

No

Under construction

No

No

No

Multi-family dwellings

Yes

Yes

Yes

Resort islands eligible

Yes

Yes

No

Up to front row homes

No

Yes

No

Unfenced pool

With natural barrier

Yes

No

Divingboards, trampolines, slides

No

Yes

Yes

Flexibility with dog breed

No

Yes

No

Protection class eligibility

1 to 10

1 to 10

1 to 9

Property held in trust

Yes

Yes

Yes

Corporate or LLC owned homes

No

No

No

Age limitation

Any age

Any age

Any age

Acreage

No limit

No limit

No limit

Dwelling

Up to $2,000,000

Up to $2,000,000

Up to $2,000,000

Extended replacement cost

Available

Available

Available

Other structures exclusion

Available

Available

Available

Personal property

RC and ACV available

RC and ACV available

Available on primary residence

Personal liability

Options up to $1,000,000

Options up to $1,000,000

Options up to $1,000,000

Ordinance and law

Options of 25% and 50% are available

Options of 25% and 50% are available

Included options up to 25%

Water sewer backup

Available

Available

Available

Home equipment breakdown

Available

Available

Available

Service line

No

No

No

Identity theft

Available

Available

Available

Scheduled personal property

Available

Available

No

Blanket Personal Property

Available

Available

No

HO-5 available

Yes

Yes

Yes

All other perils

Flat deductible

Flat deductible

Flat deductible

Hurricane deductible

%

%

%

Wind/hail deductible

%

%

%

Earthquake deductible

%

%

%

Multi-policy

Yes

Yes

Yes

Prime-time

Yes

Yes

Yes

Protective device

Yes

Yes

Yes

DEDUCTIBLES

DISCOUNTS


TIPS AND TRICKS REPLACEMENT COST ESTIMATE What is the best way to provide a replacement cost estimate to my customer? When quoting, give us your best estimate for Coverage A. Upon completing the quote, we submit the risk characteristics to our rater, Marshall & Swift/Boeckh (MSB), to determine the replacement cost estimate. As we are 100% insurance to value, the Coverage A estimate you entered must meet or beat MSB’s estimated replacement cost.

CLAIMS HISTORY How do I verify an applicant’s claims history? Remember that claims history is associated with the person, not the home. Enter any claims the applicant has had in the last six years at any owned residence, whether primary, secondary, seasonal or rental property. We will obtain the C.L.U.E. report at the end of the application to verify.

INSURANCE SCORE When should I use an insurance score estimate vs. insurance score? You should always run the true insurance score during a quote. There are very few cases in which you should use an insurance score estimate (e.g., printing out sample quote sheets to leave at a model home). Running a true insurance score can be done with or without the applicant’s Social Security number.

HURRICANE & WIND/HAIL COVERAGE How do I determine whether I should recommend a hurricane or wind/hail coverage? The right choice strikes a balance between your customer’s comfort in nature’s unpredictability and how their budget might weather the storm. Both options can provide the insured peace of mind. • H  urricane coverage applies only to events in which a named hurricane is declared. The premium tends to be higher, since all other wind/hail losses would be covered by the lower AOP deductible. • W  ind/Hail coverage applies to all wind damage from any source, not just from hurricanes. The premium tends to be lower, since the deductible covers all wind/hail losses.


CONTINUED... DEFINING THE PROPERTY’S FEATURES What is the best way to define the property’s features to keep the premium down and the replacement costs in line? In many cases, we employ the law of averages and look at majority percentages to keep rates down and replacement costs viable. • B  athrooms: If the applicant has more than one bath, you can average differences in grades (e.g., if master bath is custom and guest bath is builder’s grade, you can average and choose semi-custom grade). •  Roof type: If the applicant’s roof is a mixture of roof types, select the one that is the majority (e.g., if 70% hip roof, 30% gable, you may select hip as the roof type). •  Stories: If the home is 1.5 stories, we will calculate the size of the second story as 65% of the first floor. •  Inspections: Be thorough in describing all risks and conditions to protect the insured from a post-inspection rise in premium. If the replacement cost estimate comes back 10% or more higher than the selected Coverage A limit, then Coverage A will be adjusted to 100% of the estimated replacement cost.

INSPECTIONS How do I help my policyholders sail through inspection? SageSure inspects all new risks, as well as renewals, every third year. Attached structures and roof condition will be seen on inspection, so it’s important to accurately complete all information when quoting to reduce post inspection premium changes.

DELIVERY TIMING When can the insured plan on the inspection and the delivery of the new business package? Exterior inspections are scheduled and new business packages are mailed +/- 5 days of the effective date (not the date you bind the policy, unless binding is also within +/- 5 days of the effective date). Interior inspections are scheduled with the homeowner prior to the effective date when Coverage A reaches a specific threshold. This varies by state and product.


TOOLS & OTHER TIME SAVERS SAGE TOOLS: SELF-SERVICE PRODUCER TOOLS HOW TO...

WHERE TO GO

CHANGE POLICY EFFECTIVE DATE

Closing date changed? Need to update the future effective date for a policy? No problem. You can easily extend the future effective date on a bound policy through our Agent Portal. Just locate the insured, click Manage Policy and select Change Effective Date.

CHECK CLAIMS AND INSPECTION STATUS 24/7

Check the status of FedNat and Occidental claims anytime through our Agent Portal. Just open the policy and select the Claims button. The Inspections button is right there as well, where you can see the status of the inspection, updated in real time.

OFFER FLOOD COVERAGE

FedNat and Occidental flood systems are fully integrated with our Agent Portal. Any common information will be shared automatically, making it easier to offer comprehensive homeowners and flood coverage to your customers. Simply enroll to get started.

UPLOAD PENDING POLICY DOCUMENTS

You can upload policy documents (alarm certificates, flood policies, SPP appraisals) directly to the policy. Simply open the policy in Agent Portal, select Manage Policy, attach the documents and submit.

VIEW AGENT PORTAL NOTICES

You can always find out what’s new through our Agent Portal notices. New products, changes to rates or guidelines, even holiday hours and closures can be found here. An orange number next to the profile icons on the top right of the Agent Portal indicates you have a new notice.

MANUAL PUSHPIN GEOLOCATION

If a policyholder’s property can’t be found, use our pushpin feature to manually pinpoint the address. Simply drop the pin near the precise property location, add the house number, click Confirm Property Location and proceed with the quote.

SAGE SAVERS: TIME AND MONEY WELL SPENT TOOL

WHAT IT DOES

COPYQUOTE

CopyQuote makes it easy to offer more options in less time. Simply click “CopyQuote” to duplicate an active quote in a new tab. Then, select a second product to compare quotes without reentering the information.

EASYPAY

Save your customers time by signing them up for EasyPay at binding. There is no fee and the payment is automatically deducted on the same day each month from their bank account. For convenience, we also offer credit card payments through EasyPay for a small fee.

IVANS AGENCY DOWNLOAD

I VANS automatically shares SageSure data with your agency management system, so policy management is quicker and easier. Transactional data for renewals, reinstatements, endorsements, canceled policies and new business will be available for you.

LIVE CHAT WITH POLICY SERVICES

With one click from the Agent Portal, you can connect via online chat with a Policy Services representative. You can keep working and quoting as you chat, making more of the valuable time you have with your customer.

BUNDLED COVERAGE

Check out our Sage Plus, Premier or Premier Plus options when available, allowing you to bundle popular coverages at a discounted price. Increase specific coverages from the bundle price and you still keep the savings.*

*Bundled coverage availability varies by product and insured’s eligibility. See the Underwriting Eligibility Overview on the Agent Portal for more information.


“The man on top of the mountain didn’t fall there.” Vince Lombardi SageSure.com This booklet is not an insurance policy. Actual coverage is determined by issued policy terms and conditions. The material contained in this document is for information purposes only. Information is subject to change without notice. SageSure and the SageSure Logo are trademarks of SageSure Insurance Managers. © 2019 SageSure Insurance Managers. All rights reserved. Updated 04.29.19.

Profile for sagesure

New Jersey Guidebook 2019  

New Jersey Guidebook 2019  

Profile for sagesure
Advertisement