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OCP for large home project in CA (high value single home)
Posted: Fri Nov 03, 2006 10:57 am
by INTLXS
Who is writing OCP for a high value residential home being built in CA?
Posted: Fri Nov 03, 2006 12:10 pm
by simiinsuranceguy
Try James River Insurance. I access them through my local Swett and Crawford office. Just wrote an OCP for 3 SFD's with a $7,500 premium.
OCP
Posted: Fri Nov 03, 2006 12:54 pm
by DEG
Try Penn-Star Insurance co. Access them via Bliss & Glennon, Morgan Hill.
Posted: Fri Nov 03, 2006 8:57 pm
by LadyBroker
It's more important to make certain the General on the job has the proper coverage for the home being built, especially the completed ops. An OCP policy just picks up the premises in the event of injury...it's not a construction policy.
OCP in CA
Posted: Mon Nov 06, 2006 11:46 am
by INTLXS
Thanks simiinsuranceguy! Just picked up JR and didn't know if they could do it. They did and it provided the perfect solution.
Posted: Mon Nov 06, 2006 11:52 am
by INTLXS
I take that back..... they declined it since the insured is both the owner of the property and is acting as the GC. Any other ideas?
Posted: Mon Nov 06, 2006 4:59 pm
by LadyBroker
The client needs to spend the money and hire a GC. Typically they will get a better rate on their loan, too.