Can Fla. insurance co. be held to homeowners binder rate that differs from policy rate due to incorrect info submitted by agent?
That's what I thought. There's absolutely no way to call this a
"partial hip" roof correct? Sounds like the agent was engaging in some
bait 'n switch or just tossing crap and seeing what sticks.
Not necessarily. When I was in insurance (not in Florida) often the
agents weren't given all the information necessary to make a good
underwriting decision. They'd write the policy, then an underwriter would
come along and tell the agent he wrote the policy with the wrong terms, so
the agent gets the fun of going back to the customer and telling them the
policy is now unavailable or more expensive.
If the underwriter insists you have a hip roof and you don't, you should
go elsewhere. It means the company has underwriters who aren't
knowledgeable enough to write correct policies. You don't want to get
stuck with a policy that incorrectly defines what type of house, roof,
etc. you have, because if you have a claim, that incorrect roof
classification could bite you in the butt.