Updates
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Tips to Meet Underwriting GuidelinesApril 05, 2016
By definition, Underwriting is the evaluation of a risk and the potential exposures associated with a risk. Underwriters are vital to an insurance company’s success as they work not only to identify these exposures but also to set appropriate premiums for a given risk.
Each company has its own set of underwriting rules and guidelines to help underwriters determine if a risk is insurable. Barton Mutual also provides a physical inspection of each property it insures to assist in the underwriting of the property and to ensure the accuracy of the application submitted and policy that was written.
Listed below are just a few of the potential liability exposures our inspectors look for during an inspection to evaluate a risk:
- Trip and fall hazards – Are the sidewalks level? Steps safe? Deck boards and rails in good condition?
- Vicious Dogs – Potential bite hazards?
- Swimming Pools – Are they fenced? Diving board hazard? Too easy for children to access?
- Dead Trees – Any leaning trees? Dead limbs? If it falls, will it land on your or a neighbor’s property?
- Handrails – Do steps with four (4) or more risers have them?
- Attractive Nuisances – Are there non running vehicles, junk, and things kids can play on or around?
- Maintenance/Upkeep – Is the yard mowed? Property well kept? Is there pride of ownership?
- Smoke Alarms – Are there working smoke alarms in all homes and rental properties?
Paying attention to some of these key items will not only help you meet the standards of Barton’s underwriting guidelines but will also help keep our potential losses down and will give us the confidence we need to continue to offer affordable premiums.
This information is meant to be a broad overview and should not be the only source you consult for evaluating your risk management needs. Adherence to the above guidelines does not ensure coverage under your policy, nor does it guarantee your risk will be accepted by our company or that your property or operations are safe, healthful, or in compliance with laws, rules, or regulations. Coverage is determined by specific policy provisions, limitations and exclusions that can only be expressed in the policy itself.