RULE 05.1B - REPLACEMENT COST/INSURABLE VALUE
Premier, Premier Plus Homeowners
1) Primary dwelling - the replacement cost of the primary dwelling must be between $50,000 and $750,000 as computed by our standardized cost estimating process;
2) Secondary dwelling - the replacement cost of the secondary dwelling must be between $40,000 and $500,000 as computed by our standardized cost estimating process.
Replacement cost of the dwelling will be rounded up to the next $1,000.
If the replacement cost exceeds these limitations, prior underwriting approval must be secured.
Premier Select
1) Primary dwelling - the market value of the primary dwelling must be between $35,000 and $250,000;
2) Secondary dwelling - the market value of the secondary dwelling must be between $35,000 and $150,000.
Market value of the dwelling will be rounded up to the next $1,000.
If the market value deviates from these limitations, prior underwriting approval must be secured.
Premier Condominium
Replacement cost must be between $25,000 and $200,000. The replacement cost of the dwelling and personal property will be determined by the agent and the insured.
Replacement cost of the dwelling and personal personal property will be rounded up to the next $1,000.
If replacement cost exceeds this limit, prior underwriting approval is required.
Premier Renters
Replacement cost must be between $15,000 and $150,000.
Replacement cost will be rounded up to the next $1,000.
If replacement costs exceeds this limit, prior underwriting approved is required.
Prior underwriting approval is required for first time renters requesting coverage greater than $50,000.
