I'm looking to get homeowners insurance and talking with an agent. One agent is telling me that I have eligible for this homeowner insurance and another agent is telling me that that same company won't qualify me for a policy because of xyz.
Let's say I go with the insurance company, what will happen if I need to file a claim? Will they say… "well…. actually you don't qualify because xyz, tough luck"? If so, how is that fair?
What happens with an insurance agent error?
byu/DurrDude inInsurance
Posted by DurrDude
4 Comments
The scenario you’re describing isn’t a thing that’s going to happen. Once the policy is issued, it’s issued. So long as you didn’t lie about something material when you applied for the policy (misrepresentation) and as long as the claim is covered (no other exclusions apply) the insurer can’t just go “oh wait we didn’t mean to issue this policy to you.”
If the agent committed an error on their end they have coverage for that.
Interesting. Im guessing it’s one of 2 things.
1. you have something that’s questionable and the agent asked underwriting for an exception. If I have a good history with an underwriter I can ask for exceptions. I don’t waste my exceptions on new business unless it’s really something silly preventing the application to move forward.
2. The other agent doesn’t understand the underwriting guidelines. If they can get the policy to submit it will be kicked back by UW and you will have 30 days to get new insurance.
>another agent is telling me that that same company won’t qualify me for a policy because of xyz.
How about telling us what the “xyz” is?
You can file a error and omission lawsuit against agency if insurance denies coverage for error made by agent (and you have evidence you didn’t provide false or any information claimed by agent, ideally through email).
But if you are filing a claim, you are already going through tough times and you have another lawsuit to worry about. Better to get everything sorted out in my opinion.