Remove Crime Remove Insurance Carrier Remove Underwriter
article thumbnail

Why Your Home Insurance Premium Increased by 20% – Even If Only Your Neighbor’s House Burned Down 

Agency Height

These models account for: Save more by comparing quotes from multiple insurance agents near you. Insurance companies generally apply a temporary surcharge lasting between 3 to 7 years after a nearby fire event or claim in your ZIP code. Insurers use this report when setting premiums. Easy, free and secure.

article thumbnail

How Insurance Carriers Use Crime Scores to Assess Risk in the Affordable Housing Industry

Scott Insurance

Many insurance carriers use third-party crime scores to evaluate their exposure to criminal risk when underwriting general liability insurance policies. Thus, affordable housing providers are highly likely to experience a loss of coverage or relatively high insurance premiums.

article thumbnail

Affordable Housing Insurance Challenges: Understanding the Market

Scott Insurance

Uneven investment profits causing insurers to pursue underwriting profit, which translates to stricter underwriting criteria and declined submissions. suburban) and are more susceptible to the use of crime scores when underwriters rate their liability insurance.