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News from the DCPIF
Effective October 1, 2010, the Standard Deductible for Homowners Policies is changing from $250 to $500. The $250 deductible will no longer be available. In addition the following homeowner's deductibles are available:
• Optional Higher Section I Deductibles of $1,000, $2,500, $5,000, $7,500 and $10,000;
• Additional Optional Windstorm or Hail Percentage Deductibles, for all forms except Forms HO4 & HO6, of 7.5% and 10%;
• Additional Optional Windstorm or Hail Fixed-Dollar Deductibles, for all forms except Forms HO4 & HO6, of $7,500 and $10,000.
The DCPIF has also adopted a Loss History Rating Plan. The Loss History Rating Plan recognizes three years of both Property and Liability losses of a new or continuation applicant, which will result in an adjustment in premium.
Losses from windstorm or hail, mine subsidence, sinkhole collapse, as well as medical payments to others will not be considered under this plan. Also, the combined claim payments for each loss being considered must equal or exceed $500.
Please contact your Producer or the DCPIF with any questions.
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