When do you start the renewal process?
At least 90 days before renewal to assess changes and address gaps.
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4294 Dahlberg Drive, Golden Valley, MN 55422
Archives FAQs
Does it matter if a carrier is an “admitted carrier”?
Admitted carriers offer predictable pricing and installments; non-admitted often require full upfront payment.
Would insurers consider us a greater risk for jumping carriers?
No, switching is common in the current volatile market.
Is there a risk of losing a preferred rate for longevity?
Generally a sales pitch; carriers provide the best rates available regardless of longevity.
What’s admitted vs non-admitted?
Admitted carriers are state-regulated and backed by the state fund; non-admitted have more flexible pricing.
We don’t have any Sump Pumps. Can we remove this coverage to save money?
Yes, if separable from Sewer Backup, it can be removed to reduce costs.
We want to cut down costs. Is it recommended to remove Water/Sewer backup/Sump Failure?
Not recommended; the risk of uncovered water damage usually outweighs the low premium savings.
What is “ACV Endorsement”? Our roofs are not 15 years old, what does that mean?
Payout is depreciated value regardless of age; association pays the difference for new repairs.
What is “ACV Endorsement”?
Actual Cash Value (Replacement Cost minus Depreciation).
What is “Cosmetic Exclusion Endorsement”?
Carrier won’t cover damage that is strictly aesthetic (scratches/dents).