Can Fla. insurance co. be held to homeowners binder rate that differsfrom policy rate due to incorrect info submitted by agent?
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Can Fla. insurance co. be held to homeowners binder rate that differs from policy rate due to incorrect info submitted by agent?
In article a60cff37-2e48-44b8-a0c2-
Since the binder reflects the amended amount she quoted me over the
phone, do I have any basis to hold the company to this since the lower
quote was based on the information this agent submitted?
I'm not a Florida insurance agent and I don't know the specifics of your
laws, this is just general information, but usually, the language of a
binder makes it clear that the binder's coverage is temporary, and that
the company reserves the right to decline coverage or adjust the premium
after underwriting the risk.
So, in general, no, you can't hold them to the quoted rate beyond the
temporary coverage period of the binder.
is Joshua Putnam
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