Home Insurance - Underwriting
Home Insurance Underwriting Quiz
Test your knowledge about home insurance underwriting with our interactive quiz! Discover important facts and scenarios regarding policy management, claims processes, and customer service interactions.
- Understand the various underwriting conditions.
- Learn how to handle customer inquiries professionally.
- Improve your decision-making skills in real-world situations.
1. My policy was just cancelled for non-payment with you guys; can I get a new one?
Sorry we no longer have polices
Depending on how many cancellations you’ve had, maybe or maybe not
It is possible to reinstate the policy on the condition that is it not the third missed payment of the policy term. This is subject to a 40$ reinstatement fee.
(If First or Second non-payment) In order to reinstate your policy, we would need to collect the previous outstanding including all applicable fee’s. Please be aware that if you should have another non-payment in your policy term, there may not be an option to reinstate you policy. This can also affect your rates with other companies in the future
Yes, if there`s an outstanding balance you will need to pay that first and will need to send an application. Then we will be able to provide with a quote and will contact the client once we receive the written application to set up the policy.
verify if it's the first time this happens or if it has happened multiple times. If they have option to reinstate then you can advise them of the non-pay fee and what the fees are and if they are willing reinstate the policy.
If you were to pay the remaining balance (if applicable) We could give you a quote but in order to continue forward with insurance we would require an application.
2. MY HOUSE IS ON FIRE! WHAT DO I DO?!
Call 911 and Grab some marshmallows
GET OUT, call 911, stay calm, then call
Are you Okay? (claims & compassion reasons). Once it is determined that the client is safe reassure them that they are in good hands and transfer them to claims
Have you called 911? (customer answer) Is everyone okay? (customer answer) Let me get you in touch with our claims department, they can provide you with information for your next steps
Make sure client is safe, alright and called 911. Transfer to claim.
get out and call 911
Please leave the premises and make sure everyone is safe while I transfer you to a claims agent.
Please leave the premises and make sure everyone is safe while I transfer you to a claims agent.
Not a problem let us make that change
Please call back at a more convenient time however we can start the proses right now if you’d like
Notify them that it may take more than five minutes, confirm the information and make the cancellation.
I can appreciate you are in a hurry, to ensure we don’t make any mistakes on your file, is there a better time I can call you back to make the required changes to your policy?
Let client know that the process of setting up a home policy will take more than 5 minutes. We could call back at a more convenient time if necessary. If client is willing to take the time then do the quote and bind.
Change address in home ( + auto if applicable) and hold coverage until the closing time.
If you hold a mortgage on your new home your lawyer would require a binder for the new residence. Unfortunately I cannot guarantee that the change will take 5 minutes, would you prefer me to call you at a later time?
4. Can I have a $5000 deductible?
Sorry $2500 is the max
Yes
I can offer you a deductible of 2500$ (If the client requests it, prior UW approval is required, and a GP note indicating that it was the client's request)
To ensure our customer’s best interest, we currently only offer deductibles up to $2500. Would you like to take advantage of the savings from increasing your deductible?
We usually offer deductibles up to 2500$. I will need to ask our underwriting team to have the approval to give you a deductible of 5000$.
Only up to 2500$
Unfortunately our deductibles only go up to 2,500$, If you are worried about price we can go over your file together to make sure you are eligible for all discounts.
5. I just got married yesterday, is my new husband’s stuff covered at my house? We only met a month ago.
Does he live with you?
Yes
Congratulations! As your spouse, your husband will be covered under your policy. However, the limits of your policy may no longer meet your needs. Let’s take a look at your coverages and find out what suits you and your husband best.
Yes, since your husband is living with you. Did you have him to the deed of the house? If yes, let`s add him onto the policy. Probe to know what the husband occupation is. Then would probe to know if he has his own auto policy, if not add him to her policy.
If you are legally married his stuff is automatically covered under your policy
His stuff should be covered under contents, but lets look at your policy to verify all contents.
6. I’m going to rent my house out for about 6 months while I’m in Germany visiting family, is there anything I need to tell you?
We need to apply a vacancy permit, ask UM
Unfortunately we cannot insure you because that doesn’t fit within our guidelines (boarders). We could only insure you if no one lives in the home. If this doesn’t work for you, you could try our partners at powell.
Unfortunately, our policy does not have the appropriate coverage for your situation. We would be required to end your current policy, but I can provide you with the information for another company who would be able to accommodate your needs. Feel free to contact us again to re-establish your policy when you return.
Unfortunately we will be no longer be able to continue with your policy as your lifestyle no longer meets our guidelines. I can refer you to Powell insurance. Once you come back, you can give us a call back and will be able to give you a quote.
REFER TO POWELL!
Unfortunately we would have to cancel your policy, if you want though I can refer you to a company that would be able to help you out >POWELL
7. The workers you hired to fix my flooded bathroom are very rude.
Sorry to hear, we will inquire about it.
I’m very sorry to hear that, I can transfer you to claims
Be empathetic, tell them you will transfer them to claims.
I am sorry to hear you are having a negative experience with the workers. As a company, we maintain relationships with reputable companies and we certainly appreciate your feedback. Regarding your concern, I would recommend getting in touch with the company doing the repairs as they would be able to respond to the issue
I am very sorry to hear about this. I would recommend you to contact your adjuster to see if they could help you with that.
I'm very sorry to hear that... I will see if there's anything we can do. I will call you back in 15 minutes. (get a different crew)
I'm sorry to hear that, would you want me to transfer you over to our claims department in order to see what we can do about this ?
8. I thought my first claim would be forgiven but my price went up on my home insurance!
We don’t offer claims forgiveness
This is auto we don’t have CPC for res, I am very sorry. Can I offer a file review?
Be understanding, explain them that their claims free discount has now disappeared and that would explain the price surge.
Unfortunately we do not have a coverage that forgives your first claim with home. However you were benefiting from a claim free discount when you have no claim within 5 years.
Unfortunately because you've placed a claim you are no longer able to receive the claims free discount that was automatically given to you.
That would be comparing auto insurance with residential, also your price could have gone up for a lot of other reasons, would you want to look at your file with me?
9. I think the last guy I talked to misunderstood me when I told him a have client’s visiting my house…I don’t really…it was just a joke haha ha ha…
haha no problem your still not insured
App, I’m very sorry to hear that however we do go based on first disclosure and we cannot insure you.
Explain to the client we cannot insure business use but if that has changed we can. Also remind him that if he has a claim and is found to have lied the claim will be denied.
Due to your first disclosure, we have determined that we might not have the right coverage you require. We want to ensure you will have coverage in the event of a claim, while we cannot accommodate your needs, I can recommend another company who can help (POWELL).
Unfortunately we have to go with first disclosure and we do not have the right coverage for client who have client visiting their home. I could transfer you to Powell who will be able to provide you with a quote that has coverage that meets your needs.
Unfortunately, based on the first disclosure we have to indicate that you have clients coming to your home.
Would you mind trying to tell me the situation while I look at the notes on my side ?
10. I just got a call from some home inspection company saying something about my woodstove, is that a scam?
Well first Do you have a woodstove? We sent them at our cost
Do you have a woodstove? – yes. Then no, you should get it inspected every year.
Your woodstove must be maintained and pass certain guidelines to meet our eligibility criteria.
A home inspection is required for your file, please note that this is at our expense not yours and will help us better write your policy.
A home inspection is required for your file, please note that this is at our expense not yours and will help us better write your policy.
No it is not a scam, they are calling to make an appointment
Our underwriters will contact you about a home inspection in some cases. Don't worry about cost, it comes out of our pockets not yours
11. On my policy documents it says that there is a “clause that limits the amount payable” what is that about?
Not too sure, read your policy.
OPCF 19- Limiting Amount Paid For Loss Or Damage Coverages Limits the amount payable to either actual cash value or the stated amount on the endorsement, whichever is less. It states the limit of physical damage cover.
This clause indicates that you are covered up to a certain amount. (explain to them various coverages they have and what they are covered up to)
Based on the type of policy you have, this clause limits any applicable payouts to Actual Cash Value as opposed to Replacement Cost. This means that in the event of a loss we would account for the depreciation when providing a settlement.
This clause is to let you know that we will cover you up to the actual cash value. This means that we will replace your residence up to what the value of your residence is.
Depreciation is built in therefore it is based off of actual cash value.
12. My husband and I are fighting; please don’t let him call in to make any changes to the policy without my consent!
Not a problem, we need consent from both parties on the policy
See who is on the deed, if only her no problem if they are both on it, talk to UM and panic a little
We will need to speak to both you and your husband before we can make any changes to the policy.
If your husband is listed on the policy, we are unfortunately unable to make any changes without his consent. Leave a GP note saying if any changes are made to the policy we would require consent from both insureds??
Advise client that if husband is on the deed, he is able to make changes. If not on the deed, I would leave a gp notes indicating that I spoke to wife and she is not letting husband to make any changes on policy.
If you are both policy holders then we cannot make changes without both of your consent. I will make a note on file not to make any changes,
Well your husband would not be able to cancel your policy without your consent, but in the case of small changes we could give you a call before completing the changes.
13. My dad has dementia so he is going to move in with me, cancel his policy please
We cannot without authorization
Ummm nope? I need POE before I can do anything
Confirm info of the father and if possible get the fathers consent.
In order to make the changes you’ve requested, I would require proof of power of attorney before proceeding. To avoid this issue in the future, once I receive these documents, I can update the policy to reflect who is authorized.
Probe who is the power of attorney. For privacy reason, we will require for him to send proof of POA. Probe what is going to happen with the house. Depending on what is happening to the house we can cancel the dad policy.
Unfortunately, I will need proof of power of attorney before I can cancel his policy. Once we receive this we can certainly cancel it!
I'm sorry for your father, but in order to move forward with the cancellation we would require power of attorney.• I'm sorry for your father, but in order to move forward with the cancellation we would require power of attorney.
14. There’s no way my house is worth the amount showing on my policy documents, it’s 3 times what I paid for it last year.
What you paid is market value, we do construction cost x2
This amount is what it would cost to re-build not the market value. A home is a home, if you build it in Toronto or in Ottawa it’s a house
Explain to the customer that the house they have paid for include the land they had it built on. We are insurance the strict rebuilding cost of the home.
The limits of your policy are based on the reconstruction cost of your home. While you are correct in that the market value is much higher, we do not account for things like the price of your land as the actual rebuild of your home would cost the same regardless of these factors. You are also covered by the Guaranteed Replacement Clause which states that if we have underestimated the rebuild cost in anyway, we promise to pay above and beyond the limit of your policy at no additional cost to you.
We use a tool to calculate how much it would cost to rebuilt your house. With this amount we double it to give you your policy limit which covers you for your building, your contents, detached private structures and additional living expenses. So the amount showing on your policy covers more than only your building.
The cost to rebuild the home may have increased, have there been any changes or updates made to the home? (Policy review)
The market value of your house and the reconstruction cost of a house are almost never the same, the land and location of the home would not be considered under our reconstruction costs.
15. I’m worried that my neighbour’s tree is going to blow over onto my house but he won’t have it cut down.
Do you have a chain saw? If not call the city
Call the city? It would be covered on your home policy.
Notify the client that he is covered in the event something does happen but if it is on his property he is not obliged to cut it down.
In the event that your neighbour’s tree causes physical damage to your property, he would be responsible to repair the damages. Under his own residential insurance, he would have a mandatory liability coverage which would react in the even that he is found negligently liable for damage to others.
I would advise that if the tree does damage his house, the damages would be covered under his homeowner policy. Advised to talk to neighbour to cut it down if he is really scared that it might fall as the claim would fall under his policy.
You are covered if ever that were to happen because damage from falling objects is covered.
You would be covered in case something like that would happen, but I would talk to your neighbour about this.
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