AFM is pleased to announce that beginning 1/1/2024, we have added Service Line Coverage to all Select HO-3 and Secondary new business and renewal policies. In the past, we have received several inquiries from agents regarding the availability of this coverage, and your input has not gone unnoticed.
This coverage pays to repair or replace homeowner-owned exterior underground water and sewer piping, electrical service lines and data lines and wiring that fails or is accidentally broken. A $500 deductible applies, and the limit of coverage for each occurrence is $10,000 for homes 50 years and newer or $2,500 for homes older than 50 years.
This coverage will automatically be added to all Select HO-3 and Secondary new business policies with effective dates of 1/1/24 or after. For renewal policies, this coverage will automatically be included on the insured’s 2024 renewal. There is no further action required on either the agent’s or the insured’s part.
AFM is continually working to improve our products and services for both our agents and our insureds. We strive to be our agents’ first choice for Standard and Preferred Homeowners business. We always welcome feedback and suggestions, so if there is something that you’d like to see us offer, please let us know.
If you have any questions about Service Line Coverage, please feel free to contact our Underwriting Team for further information.