INDIANA BASIC PROPERTY INSURANCE UNDERWRITING ASSOCIATION

Consumer

 


***IMPORTANT INDIANA FAIR PLAN NOTICE TO CONSUMERS***


Effective April 4, 2016 our new office address will be:

 

3502 Woodview Trace, Suite 100

Indianapolis IN 46268


PLEASE CONTINUE TO SEND APPLICATIONS AND PREMIUM PAYMENTS TO:

Indiana Basic Property Insurance Underwriting Association

PO Box 6457 – Dept #283

Indianapolis IN  46206

 


 

***IMPORTANT INDIANA FAIR PLAN NOTICE TO CONSUMERS***

 

 Effective April 1, 2015, all premium payments for FAIR Plan polices are to be sent to the following address:

 

Indiana Basic Property Insurance Underwriting Association

PO Box 6457 – Dept #283

Indianapolis IN  46206

  

If you have any questions, please contact the Indiana FAIR Plan at

317-264-2310 or 800-888-8627

 

*****IMPORTANT NOTICE TO CONSUMERS*****
 

On April 1, 2014, existing policy owners covered by a Dwelling Fire (DP-1) policy were given an opportunity to renew that policy with liability and theft coverage for one additional policy term.

 

Effective April 1, 2015, liability and theft coverage will no longer be available for Dwelling Fire (DP-1) policies renewing for an additional policy term. Liability and theft coverage is only available under a homeowners policy.

 

A homeowner policy is only available to owner-occupied applicants and all applicants for a homeowners policy will be required to submit an application and be subject to a new inspection and underwriting guidelines.

 

 

If you have any questions, please contact your agent.


 
***** IMPORTANT NOTICE TO CONSUMERS *****
 
NEW PRODUCT FORMS AND POLICIES WILL BE OFFERED BY THE INDIANA FAIR PLAN IN 2014.
EFFECTIVE APRIL 1, 2014, THE PLAN WILL BE INTRODUCING A DP-2 BROAD FORM DWELLING FIRE POLICY AND WILL BE ALSO BE INTRODUCING HOMEOWNERS HO-8 MODIFIED AND HOMEOWNERS HO-2 BROAD FORM POLICY FORMS.
 
·         Residential dwellings will be written with no co-insurance requirement. In the event of a covered loss, settlement will be based upon actual cash value.
·         Coverage limitations, exclusions and conditions are described in each policy form.  The policy language describes the coverage provided.  No replacement cost coverage is offered.
·         Owner occupied renewal policies will have the option of applying for Homeowners policy at the time of renewal.
·          Policyholders that choose to maintain their existing DP-1 policy may elect to continue the liability and/or theft coverage until their 2015 renewal date at which time liability and theft coverage will no longer be available under Dwelling Fire policy forms.
·         Homeowners policies are only available to owner occupied applicants that meet underwriting guidelines.
 
 If you wish to apply for any of the new products, please contact your agent to complete an application and receive a quote. Please be advised that all applications for a homeowner’s policy will require a new application, a new inspection and will be subject to underwriting guidelines.
 
 We will begin accepting new applications for the DP-2, HO-8, and HO-2 policy forms on policies effective April 1, 2014 or after.
 
*  *  *  *  I M P O R T A N T  N OT I C E    *  *  *  *
 
Indiana recently had severe storms in several Indiana counties.
 
The Indiana Commissioner of Insurance has issued a 60 day moratorium / grace period (Bulletin 201) which restricts a company’s ability to cancel, nonrenew or charge late payments to policyholders in “impacted areas” at this time the “impacted areas” are the following counties:   Benton, Boone, Cass, Clinton, Daviess, Fountain, Grant, Hamilton, Howard, Jasper, Knox, Kosciusko, Lawrence, Miami, Montgomery, Newtown, Pulaski, Tippecanoe, Tipton, Vermillion, Warren, Washington, and White Counties. If additional counties are added, we will update this notice.
 
RE:  AMOUNT DUE NOTICES
 
If you receive an AMOUNT DUE NOTICE your due date will remain the same.  However, the FAIR Plan will not cancel your policy if payment is received no later than January 22, 2014.  Premium not received by January 22, 2014 will result in cancellation of your policy coverage due to non-payment of premium as of the original cancellation date.  
 
RE:  RENEWAL NOTICES
 
If you have received a RENEWAL NOTICE you must still submit a renewal application, with annual premium by the specified date.  However, the FAIR Plan will not cancel your policy if the renewal premium is received on or before January 22, 2014.  If your renewal application has not been timely received and the renewal premium has not been received by January 22, 2014, your coverage will expire as of the original expiration date shown on renewal notice.
 
Please contact your agent or the Indiana FAIR Plan if you have questions or concerns regarding the impact of this grace period on your policy. 

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NEW PRODUCT FORMS AND POLICIES WILL BE OFFERED BY THE INDIANA FAIR PLAN IN 2014.
 
EFFECTIVE APRIL 1, 2014, THE PLAN WILL BE INTRODUCING A DP-2 BROAD FORM DWELLING FIRE POLICY AND WILL BE ALSO BE INTRODUCING HOMEOWNERS HO-8 MODIFIED AND HOMEOWNERS HO-2 BROAD FORM POLICY FORMS.
·         Residential dwellings will be written with no co-insurance requirement. In the event of a covered loss, settlement will be based upon actual cash value.
·         Coverage limitations, exclusions and conditions are described in each policy form.  The policy language describes the coverage provided.  No replacement cost coverage is offered.
·         Owner occupied renewal policies will have the option of applying for Homeowners policy at the time of renewal.
·          Policyholders that choose to maintain their existing DP-1 policy may elect to continue the liability and/or theft coverage until their 2015 renewal date at which time liability and theft coverage will no longer be available under Dwelling Fire policy forms.
·         Homeowners policies are only available to owner occupied applicants that meet underwriting guidelines.
 If you wish to apply for any of the new products, please contact your agent to complete an application and receive a quote. Please be advised that all applications for a homeowner’s policy will require a new application, a new inspection and will be subject to underwriting guidelines.

 

 We will begin accepting new applications for the DP-2, HO-8, and HO-2 policy forms on policies effective April 1, 2014 or after.
 
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The Indiana FAIR Plan was established for the use by Indiana residents.

 
Consumers must contact an Indiana licensed agent to apply or to obtain a quote. Licensed
agents have access to applications and rates. Consumers must be declined by at least
three insurance carriers before applying to the Indiana FAIR Plan. These denials can be verbal
denials.
 
NOTE THE TABS ON THE LEFT FOR MORE INFORMATION:
1)  Consumer  
      FAQ's - Consumer:  Additional information regarding the Indiana FAIR Plan
      Printable Forms:  Indiana FAIR Plan policy forms are available for viewing and/or printing

 2)  Coverage

       Personal: Overview of Indiana FAIR Plan Coverage for Personal Insurance

       Commercial: Overview of Indiana FAIR Plan Coverage for Commercial Insurance