3, 2, 1 … The Fastest Residential Builders Risk Policy Just Launched
Leave the competition behind with XPressBIND®, the fastest and easiest way to issue residential builders risk insurance. We created a brand new application eliminating most of the underwriting questions required for new home construction projects valued up to $500,000. Now, you can say “yes” to new accounts more often, earn revenue quicker and get a few minutes back in your day.
With XPressBIND, you’ll answer just six questions, along with the risk address. If your responses meet the requirements, you’ll get a formal quote in record time. No additional underwriting information or holds will be required.
- Is this a single family dwelling with a total completed value of $500,000 or less?
- Does the contractor have at least two years of project related experience?
- Is the home more than 30 percent complete?
- Is this a modular home?
- Is the protection class 9, 10 or ending in X?
- Effective date (text field).
All that’s left is to enter basic client information, validate your license, select the billing preference, and 3, 2, 1…liftoff! The policy is ready for delivery, and the premium invoice will be direct billed to your client.
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Through US Assure, you have access to policies that often complement the needs of your builders risk insurance clients. Check out these instructions to service them in the most efficient way.
Do you know the differences between a named insured, additional name insured and additional insured?
When a covered cause of loss occurs, the claims payment check will be issued to all named and additional insureds, as well as lenders, and each will be required to sign it in order to receive funds.
Check out these definitions to ensure you understand the full impact of each insured type.