Hindsight from 2020

Posted on February 8, 2021

Preparing for a successful 2021

Using Hindsight from 2020

Is your agency ready for the busy spring & summer home buying season? To help you succeed in 2021, Aspera’s underwriters have compiled some helpful tips.

As always, we encourage you to review policies with your customers prior to renewal or at the point of sale.

Direct Pay

Direct Pay allows you to view balances in real-time, eliminating the need to wait until monthly statements are posted to review the net amount due on your Aspera policies.

One of the many features of Direct Pay is the ability to pay online using a bank account number, however, you still have the option to pay by mailing a check to Aspera’s payment address. We are currently unable to accept partial payments through Direct Pay or credit card payments in any capacity.

The Direct Pay portal also lets you view current and historical statements, without the need for your Aspera monthly statement email.

Premium Financing

Aspera partners with Imperial Premium Finance (IPFS) to offer installment payment options to your clients.

A premium finance agreement (PFA) is included with every quote.

Agencies are responsible for collecting the down payment detailed in the PFA and remitting to Aspera. IPFS will then work with your clients to collect the remaining balance through monthly installments. The PFA outlines instructions on how to forward the executed agreement to IPFS.

This is an optional service. You are under no obligation to use IPFS for premium financing on Aspera policies. You may continue utilizing other premium finance companies or use the single-pay, agency-bill model.

Dwelling Coverage

We are able to offer coverage without a co-insurance clause or a mandate to purchase coverage at full replacement cost.

Aspera can offer replacement cost coverage, regardless of age, for total losses. For partial losses and homes more than twenty (20) years old, settlement payment will be *actual cash value.

* Actual coverage offered may be dependent upon in force underwriting guidelines and state regulations.

Other Structures Coverage

Don’t forget about Coverage B options! Dwellings may hold up well in a storm, but detached structures (sheds, detached garages/carports, fences, etc.) could end up taking the brunt of the damage from the storm.

Home Maintenance & Claims

Regular maintenance of your clients’ home can have a positive impact as weather or other claim events can exacerbate existing damage.

Maintaining a home can reduce the impact of storm-related damage and eliminate the unpleasant surprise of a claim that is denied or not paid out to the extent the client expected.

Personal Property Limits

Aspera offers Special Limits of Liability (Coverage C – Personal Property) for certain classes of personal property such as firearms, computers, musical instruments, and more. These Special Limits differ from that included in a typical HO-3 policy.

You can find and select scheduled personal property coverage in the next to last question on the application; find scheduled personal property rates in our underwriting guidelines.