Property
& Homes
& Homes
Home-Sharing is defined as renting a location between this number of nights per year.
What is between 1 and 180 nights per year?
- Incidental Business and home Sharing Bulletin
An LLC created for estate planning may qualify for homeowners coverage if the home is occupied by whom?
What are members of the LLC?
- Limited Liability Company Bulletin
To reinstate a canceled policy, underwriters must first obtain this signed statement.
What is a statement of no losses?
- Reinstatement of Policies Canceled for Nonpayment of Premium Bulletin
Customizations exceeding $30,000 require the vehicle to be insured as this type.
What is a converted/modified automobile?
- High Value Items – Personal Automobiles Bulletin
Adding this endorsement makes the umbrella follow the same exclusions as the underlying.
What is the Following Form endorsement (26360)?
- Executive Umbrella - Following Form Endorsement Bulletin
A barn-style building with living space, sometimes called a “shome,” is officially termed this.
What is a Barndominium?
- Barndominiums Bulletin
A trust holding legal title to a home must list this person first as the named insured.
Who is the occupant/settlor?
- Trusts Bulletin
This type of umbrella carrier, even if rated B+ or better, is not eligible as an underlying policy.
What is an Excess & Surplus (E&S) carrier?
- Underlying Carriers - E&S Lines Bulletin
A trust may only be added to a personal auto policy if it holds this in a titled vehicle.
What is an insurable interest?
- Personal Automobile Policies Written for an Entity Bulletin
The minimum per-seat liability limit required for aircraft coverage under an umbrella is this.
What is $500,000 per seat (with $1,000,000 total)?
- Aircraft Liability Bulletin
This ISO classification, introduced in 2014, applies to risks located between 5 and 7 miles from the responding fire department and within 1,000 feet of an approved water source.
What is Protection Class 10W?
- Personal Property Protection Class Rules Bulletin
Vehicles titled in the name of an LLC or Family Limited Partnership cannot be written under this policy type.
What is a Personal Auto policy?
- Personal Automobile Policies Written for an Entity Bulletin
Executive Umbrella renewals begin by reviewing these base policies.
What are underlying policies?
- Recommended Renewal Guidelines - Executive Umbrella Bulletin
These small imported trucks, often with right-hand steering, must be written as unlicensed recreational vehicles because they cannot pass U.S. rollover or side-impact safety tests.
What are Mini-Trucks?
- Mini Trucks Bulletin
Renewal underwriting of umbrella policies requires documenting this before making changes.
What is a thorough review of prior notes and account details?
- Recommended Renewal Guidelines - Executive Umbrella Bulletin
Even in states where marijuana is legal, a homeowners policy would not cover bodily injury or property damage arising from its use, possession, or cultivation because marijuana remains this under federal law.
What is a Schedule 1 controlled substance under the Controlled Substances Act?
- Marijuana Bulletin
When an insured rents a vehicle and it’s sold in damaged condition rather than repaired, this coverage protects them from the financial responsibility they still owe under the rental agreement—similar to ownership liability for the vehicle’s value.
What is Rental Auto Gap Coverage?
- Rented Automobiles Bulletin
Umbrella policies automatically cover non-owned aircraft rented for up to 30 days under this form.
What is the Executive Umbrella?
- Aircraft Liability Bulletin
A personal auto policy excludes coverage for assets stored in the car for work under this clause.
What is the Business Property Exclusion?
- Business Use for Personal Auto Bulletin
A trust or LLC may also be added to an umbrella if underlying coverage is written with this group.
What is Auto-Owners or affiliate companies?
- LLC as Named Insured on Executive Umbrella Policy Bulletin
If an insured accidentally damages a rented tool and the loss isn’t covered under Section I, this portion of the Homeowners policy provides up to $1,000 in coverage.
What is Damage to Property of Others under Section II – Liability?
- Rented Personal Property (Rewrite) Bulletin
Vehicles used for client visits or errands may qualify for this auto rating type.
What is Business Use?
- Business Use for Personal Auto Bulletin
An LLC can be added to an umbrella if it was created for this purpose.
What is estate planning or rental dwelling ownership?
- LLC as Named Insured on Executive Umbrella Policy Bulletin
This automated notification is triggered when a driver in a loss is listed as unknown, not on the policy, or classified as a non-driver or excluded driver.
What is the Automatic Underwriting Driver Notification?
- Automatic Underwriting Driver Notification Bulletin
This umbrella product provides worldwide liability coverage unless altered by endorsement.
What is the Executive Umbrella policy?
- Recommended Renewal Guidelines - Executive Umbrella Bulletin