The Importance of Underwriting Flexibility in City Housing

June 15, 2022 / Distinguished

In a competitive insurance marketplace, having access to a program that provides underwriting flexibility in addition to tailored, comprehensive coverage gives agents and brokers a leg up when approaching prospects for new business and in retaining existing accounts. Distinguished Programs is committed to pioneering and creating innovative products supported by underwriting expertise and flexibility and technology. Our City Insurance program reflects this commitment.

Designed to provide coverage for two to 100 units in designated cities across the country, City Insurance addresses the needs of residential property owners along with owners of mixed-use, as long as 50% of the building’s occupancy is residential. Owner-occupied, tenant-occupied, and condominium associations are eligible for our City Insurance program.

Insure Properties That Others Don’t

Unlike other insurance markets, our City Insurance program has no building age restrictions, enabling agents and brokers to expand their footprint. In fact, Distinguished specializes in insuring older properties as long as their systems are upgraded. We also provide greater flexibility on smaller properties – two to eight units – with our minimum smoke detectors and one exit per floor requirements.

City Insurance also covers frame buildings, which have become increasingly more difficult to insure in cities like San Francisco, where these types of properties are prevalent. With City Insurance, you can also write a single location or multiple properties. This underwriting flexibility provides agents and brokers with additional bandwidth to insure more properties.

City Insurance Program Overview Video (~1.5 min)

Inside the City Insurance Program

City Insurance includes a package policy that provides both Property and General Liability insurance. Coverage for Equipment Breakdown, Backup of Sewer and Drains, and Ordinance or Law A, B, & C is included. Crime, Hired and Non-Owned Automobile, and Employee Benefits Liability insurance can be added. In addition, you can provide clients with the option to purchase Flood and Earthquake insurance.

For owner-occupied risks where the owner lives in one of the units, in addition to providing the commercial package policy on the property, you can also offer the opportunity to add Personal Liability ($1 million), Personal Contents, Inland Marine for scheduled valuables, and Additional Living Expenses coverages on the policy. The owner-occupant can insure both the building and his or her own unit with you.

Insureds have access to added-value services such as Sedgwick Repair Services. They gain access to vetted, trusted contractors for renovation work or in the event of claim as well as an Iron Clad Warranty^TM program that guarantees a contractor’s labor and workmanship beyond the standard one-year warranties.