Effective August 1, 2016, for personal lines new-business policies, Citizens will accept lender-placed coverage as prior insurance.
Details
When an agent uploads the new required documents noted below, a policyholder with lender-placed coverage in effect within 45 days of the policy’s effective date will not be subject to:
The 30-day waiting period before binding coverage
The no-prior-insurance surcharge of 10 percent
Notes
"Lender-placed” terminology will replace “force-placed” in all of Citizens’ materials and in PolicyCenter®.
This change does not apply to tenant-named insured and condominium-unit owner policies.
In addition to the required documents outlined below, the agent also must upload proof of lender-placed coverage.
New Required Documents
To support insurability, agents must upload the required document noted below:
For Personal Residential Multiperil risks: 4-Point Inspection Form (regardless of the age of property)
Citizens provides agent communications online for historical purposes only, and the communications have not been updated to include any changes that may have been made after publication. Agents can find the latest information by reviewing the applicable underwriting manuals, and by logging in and accessing our FAQs, which are available from the top of any page on our website.
