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More than 200 property/casualty insurers throughout the United States use
AAIS's personal lines insurance programs, which provide standard forms,
manual rules, and loss cost rating information for insuring residential
property and personal liability.
Whether you are competing in standard markets or targeted ones (coastal,
urban, high-value, etc.), AAIS personal lines programs provide product
development and maintenance service that can be a very cost-effective
alternative to other providers or to the cost of maintaining your own
program.
The Homeowners Program,
a complete standard program revised in 2007, features the industry's
first standardized endorsements for adding equipment breakdown coverage
to a homeowners policy, and introduces new coverage provisions
addressing exposure to personal injury arising from electronic
communications. It's the alternative you can't afford to overlook. 
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The AAIS Homeowners Program features seven base forms (basic, broad,
special, contents/renters, special building and contents, unit-owners,
and limited perils) plus a variety of loss settlement options (actual
cash value, replacement cost for personal property, modified replacement
cost, and functional replacement cost).
The program includes several mandatory endorsements not available in
other programs; these exclude coverage for liability arising from lead,
pollutants, punitive and exemplary damages, and other causes of loss.
There are more than 75 other optional endorsements, including
endorsements limiting loss due to fungi (mold).
The AAIS Homeowners Program manual features countrywide rules that
include most rating factors, including countrywide rating factors for
optional liability coverages. Individual state pages are provided with
state-specific rules and rating information, where applicable.
The manual provides factors for higher wind and hail
deductibles in most states, and an optional manual supplement provides
rating factors for new homes and age of home systems. The program's rating information incorporates modeled data from leading catastrophe modeling firms. |
The Mobile-Homeowners Program provides all the coverages needed for
insuring mobile homes along with rating information based on mobile-home
experience.
The Home-Based Business Coverage Part,
provided as part of the AAIS Homeowners, Mobile-Homeowners, and Farmowners programs, was the industry's first standard endorsement
developed to provide personal lines coverage for the property and
liability exposures of certain home-based businesses. It was
subsequently expanded to add a class for bed and breakfast operations,
and is scheduled for further revision in 2008.
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The AAIS Home-Based Business Coverage Part classifies eligible
home-based businesses into six categories, allowing personal lines staff
to underwrite and rate the entire policy without using commercial lines
procedures.
Regarding liability coverage, the endorsement replaces the personal
liability coverage in the base policy with commercial liability coverage
for business exposures.
Regarding property coverage, the endorsement does four things:
- It extends personal property coverage to business property on
the premises;
- It adds coverage for structures used to store business property,
- It increases the limit for business property away from the
premises; and
- It provides business-related incidental and optional coverages
such as accounts receivable.
Loss cost rating information is provided by category or risk and
amount of limit, and for coverage options. |
The
Personal Umbrella Program provides policy
forms, optional endorsements, and manual rules for writing excess
coverage over the limits of underlying policies, plus "drop down"
coverage for personal injury liability.
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Under the AAIS Personal Umbrella Program, companies have the option
of writing umbrella coverage as an endorsement to a homeowners policy or
as a stand-alone policy.
One endorsement option allows carriers to write excess liability
insurance for home-based businesses covered under the AAIS Home-Based
Business Coverage Part. Other options are available for extending
"follow form" excess coverage to farming or specified business
activities covered by underlying policies.
Endorsements are provided for excluding coverage for punitive damages
or for liability arising from designated premises, drivers, vehicles,
and watercraft.
In all cases, defense costs are paid outside of policy limits. |
AAIS
Personal Monolines provide a range of
booklet-style forms that can be written on a stand-alone basis or
packaged with other forms to insure residential property, personal
property, and personal liability.
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The Dwelling Properties Program includes three residential property
forms--basic, broad, and open perils--that each provides the four
principal coverages--residence, related private structures, personal
property, and additional living cost/fair rental value.
The Landlord's Package, provided as part of the Dwelling Properties
Program, consists of the industry's first standard endorsement option
for insuring a landlord's premises liability exposure for small rental
units (1-4 families).
The Personal and Premises Liability Program provides three principal
coverage forms--personal liability, farm personal liability, and
premises-only liability--whose coverage are analogous to those provided
in liability sections of homeowners forms. Options are available for
excluding coverage for lead liability, pollution liability, and punitive
damages. |
The Boatowners Program,
which is undergoing its third comprehensive revision since being
introduced in the early 1990s, is the industry's first standardized program for insuring
small, privately owned watercraft. Companies can use this program as the
basis for a watercraft specialty line, or as an accommodation to their
homeowners and auto accounts.
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Filed countrywide, the Boatowners Program provides a base form for
insuring privately owned pleasure craft, plus motors and trailers.
Coverage extends to personal watercraft such as "Jet Skis," but personal watercraft
coverage can be excluded by endorsement.
Under the program, coverage can be written for property only,
liability only, or property and liability; policies can either stand
alone or be endorsed onto another personal lines policy. The manual features
an expanded but still simplified rating procedure that can be utilized
by most personal lines underwriters. Program features include:
Eligibility
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Watercraft
(including motors, trailers, and personal watercraft, such as “Jet
Skis”) owned by individuals for personal pleasure use.
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30 feet or less
in overall length; 20 years or less in age; valued at $75,000 or
less
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Maximum speed
not greater than 50 mph
Additional
property coverage
Coverage for boating
equipment; optional coverage for personal effects of passengers is
available by endorsement.
Newly acquired
boats
Coverage for boats up to 30
feet in length under limit of $25,000 for 30 days after new watercraft
is acquired.
Perils
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Open perils
coverage subject to standard exclusions plus exclusions for
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Illicit
transportation and trade
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Freezing or
overheating
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Process to
repair, adjust or service
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Marring,
bubbling or delamination
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Animals and
insects, including marine life
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Business use,
with an exception for the entertainment of clients
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Racing or speed
contest
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Residential use
Property loss
settlement
Property covered
for liability
Liability
coverage for wreck removal
Coverage provided for 25% of
the coverage X limits that applies to the covered property.
Liability
exclusions
Coverage subject to standard
liability exclusions, plus additional exclusions for:
Uninsured boaters
coverage
$10,000 uninsured boater
coverage automatically included with liability coverage; increased
limits available.
Uninsured boaters
exclusions
Deductible
One deductible per
loss unless more than one insured boat is involved in a loss. In that
case, a separate deductible applies to each boat.
General
conditions
Added two conditions:
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Coverage to 100
miles from coast. Coverage for personal watercraft limited to 10
miles from coast. (This was previously in the insuring agreement).
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Seaworthiness
Warranty--No coverage is provided if the boat is not maintained in a
seaworthy condition.
Additional rating
components
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Increase from
five to 11 territories
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Outboard motor
factor
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Higher
deductible options added
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Experienced
operator credit
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Multi-owner
surcharge
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High liability
and med pay limits available
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American Association of
Insurance Services
1745 S. Naperville Road | Wheaton, IL 60189-8132
630-681-8347 | 800-564-AAIS | Fax 630-681-8356
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Homeowners 2007 
