5 Things to Review Before You Renew

Posted on June 7, 2018

In less than six months, anything can change in a homeowner’s life from mortgages, trusts, additional insureds, property sold and new property purchased. Peak renewal season can also be stressful on agents, and some policies can be overly time-consuming when there is a lot of back-and-forth in order to renew Manufactured Housing policies. Our team at Aspera has compiled a short list of items sometimes overlooked during the renewal process:

Five Items to Review Before You Renew:

  1. Updates and Add-ons to the Home – Photos and receipts may be required for changes made to the manufactured home if a change in coverage amount is being requested.
  2. Outstanding Claims – IN order to avoid a claims surcharge, we may request documentation showing the damage associated with the claim has been remediated. Such documentation could include photos and/or invoices detailing charge for work completed.
  3. Older Homes (25+years) – In order to obtain the best renewal rate on homes older than 25 years old, we may request documentation that is not currently in the policy file such as: inspection records and pictures of each side of the home and photos of the tie-downs and anchors for homes over 30 years old.
  4. Request to Bind/Surplus Lines Form –  In order for us to bind a renewal, we must receive a request to bind the submission via email, which includes an updated copy of the surplus lines form associated with the State in which the property is located. Request to bind and state forms can be sent to: mh@asperains.com.
  5. Renewal Premium – Payment in full is to be collected by your agency. All renewals will be included on the monthly statements sent to your agency at the beginning of each month. Please ensure the premium is made payable to your agency to avoid any delays in binding the renewal.

Final Thoughts: The best compliment the insured can give you is a referral! When finalizing the renewal process, take a moment to thank your insured and inquire if they have any family or friends who also own a manufactured home along the coast. Word of mouth is the strongest and most effective marketing tool your agency has to offer. Renewals are a great way to reconnect and grow your business!