
Dwelling Basic
Offer up to 10 discounts, plus flexible coverage, to customers who just need the basics.
Some homes may not be eligible for full coverage, and sometimes a customer may request just the basics. This product helps you cover most occupancies – a full-time home, rental property, seasonal home, vacant property, and even non-residential structures. The flexible format makes it easy to insure the building and protect a customer from loss.
Discounts help customers save
Property coverage has up to ten available discounts, making it pretty easy for you to save a customer 20 percent or more:
- Approved association membership – 5%
- Auto policy with agent – 5%
- Multiple policies with American Modern – 5%
- No claim in past 3 years – varies
- Paperless documents – 1%
- Paying in full – 5%
- Central station fire / smoke alarm – 5%*
- Central station burglar alarm – 5%*
- Local smoke and / or burglar alarm – 2%*
- Deadbolt, smoke alarm, fire extinguisher – 2%*
* up to 10% total / not available for vacant property
Options offer customers added protection
- Add water damage coverage to a home ($10,000 limit with $5,000 mold limit).
- Add burglary and vandalism coverage.
- Premises liability coverage protects both the landlord and the property manager. For rental property covered by premises liability, you can add landlord personal injury coverage for circumstances such as a wrongful eviction complaint.
AMsuite™ makes your work easier
- C.L.U.E. reports and MSB valuation data are automatically imported making the quotes more accurate and easier to complete.
- Customer data already in the system auto populates fields in a new quote, eliminating duplicate work.
- Customers can electronically sign required forms, saving you the hassle of chasing and filing paper documents.
Occupancy types | • Owner – O • Seasonal – S • Standalone, non-residence structures – N • Rental – R • Vacant – V |
Property description | • Up to four-family • Up to three-stories • No age restriction • Fair condition and better • Row or town homes • Schedule up to 10 homes on one policy |
Value range | • $5,000 min. – S V N • $20,000 min. – O R • $300,000 max. – O R S N • $1M max. – V There will be some state variation but this is the standard |
Insured for | • Market value |
Protection classes | • 1 to 10 |
Coverage | • Named peril for dwelling, other structures and personal property (Named perils same as those on 2014 ISO DP-1 form) |
Deductible | • $500 default • Optional $1,000, $2,500, $5,000 Separate deductibles may apply in some states for coverage such as wind/hail. |
Loss settlement | • Actual cash value for dwelling and other structures / full repair cost is an upgrade • Actual cash value for personal property |
Included coverage | • Other structures – 10% Coverage A (does not reduce Coverage A) • Reasonable repairs • Debris removal • Additional living expenses / Fair rental value – 10% Coverage A (a combined coverage) • Fire department surcharge – $500 |
Optional coverage | • Personal liability – O – $25,000 to $500,000 • Premises liability – R S V – $25,000 to $500,000 (covers a property manager / can add landlord personal injury if a rental) • Personal property – O R S V • Vandalism • Burglary • Theft with resulting vandalism – O – $10,000 limit • Water damage – O R S – $10,000 sublimit, $5,000 limit for mold and remediation • Short term rental – R • Occasional rental – O S • Identity recovery – O S • Builder’s risk – V • Home equipment breakdown protection • Service line – $10,000 limit ($500 deductible) |
Discounts | For O R S: • Central station fire / smoke alarm – 5%* • Central station burglar alarm – 5%* • Local smoke and /or burglar alarm – 2%* • Deadbolt, smoke alarm, fire extinguisher – 2%* *up to 10% total For O R S V N: • Approved association membership – 5% • Auto policy with agent – 5% • Multiple policies with American Modern – 5% • No claim in past 3 years – varies • Paperless documents – 1% • Paying in full – 5% |
Payment options | • Full pay • Monthly, EFT only • 2-Pay, billed or EFT • 4-Pay, billed or EFT • 6-Pay, billed or EFT |
Capital letters following a coverage or description show any restriction on the eligible occupancy types