Mortgage and Realtor Resources

The insurance industry has hardened. Due to storms, AOBs (Assignment of Benefits), and rising costs of reinsurance, carriers have tightened underwriting guidelines. At least 8 carriers are still closed for new business. Use the below checklist to keep your home in compliance with insurance guidelines.

• Roof Age:
  • Less than 15 years for architectural Shingles.
  • Less than 10 years for 3-tab.
  • less than 20 years for metal.
• The water heater must be less than 15 years old.
• HVAC must be less than 20 years old.
• Plumbing:
  • Galvanized plumbing is limited to only a couple of carriers which are closed in several zip codes.
  • PEX plumbing must be 2005 or newer
• Electrical Panels:
  • Must have at minimum 150 amps.
  • Federal Pacific, ZInzco, StabLock, Challenger, and Sylvania ARE NOT ACCEPTABLE.
• Additionally, hurricane claims for both the buyer AND the seller must be closed.
• The property will have to be underwritten to current guidelines regardless of current policy status.