Steadily's Landlord and Dwelling Fire coverage is officially live in New York! With Steadily, get secure, accurate, and competitive quotes. Request access and earn a commission of 12% on New Business and 10% on Renewals. Watch the webinar recording below to see how you can leverage Steadily for your clients.
Steadily's Insurance Coverage Overview
Ashley presented an overview of Steadily's operations, highlighting their partnership with various AM Best A-rated carriers and their coverage offerings across the United States. She explained their appetite for properties with tenant exposure, including single-family dwellings, 2-4plexes, and short-term rentals, as well as their interest in additional dwelling units and Casitas. Ashley also introduced a renovation product available in non-resident states, offering coverage up to $1 million for coverage A and premise liability, suitable for light or cosmetic fix-up projects.
Steadily Insurance Coverage Overview
Ashley discussed Steadily's insurance offerings, including a $150 broker fee and a 12-month policy term with a vacant dwelling requirement during renovations. She outlined eligibility criteria for New York properties, including distance from the coastline and specific areas on Long Island. Ashley also covered what Steadily does not insure, such as apartments, commercial exposure, mobile homes, and properties with poor condition. She explained the inspection process and multi-location policy options, noting that up to 40 locations can be covered on a single policy. Lastly, Ashley mentioned that Steadily accepts business entities as named insureds and can insure older homes with adequate updates, provided certain conditions are met.
Pre-1940 Dwelling Quoting Guidelines
Ashley presented guidelines for quoting pre-1940 dwellings, which require electrical, plumbing, and HVAC updates within the last 30 years, with a yes/no validation question for homes over 100 years old to be referred to underwriting. She outlined a 5-year look-back period for claims eligibility and explained billing options, including lender-paid and client-paid methods with a 10% discount for full premium payment. Ashley also discussed New York-specific requirements, including the need for an active New York producer's or broker's license to bind policies and sign the Part C affidavit, and clarified that policy renewals require updated signatures and stamping 72 days before expiration.
Policy Billing and Underwriting Overview
Ashley provided an overview of policy billing and underwriting processes at Steadily, including interaction methods and response times. She emphasized the importance of using the quoting system to submit reviews and endorsements, noting that underwriting responses are typically within a business hour. Ashley also highlighted available agent resources, such as state eligibility guides and underwriting guidelines, and encouraged participants to practice running quotes in the system. McKenzie concluded the session by confirming that the webinar was recorded and would be shared with participants, and she reminded attendees to reach out to their agency support team if they had any questions.