OREGON
AUTOMOBILE
UNDERWRITING GUIDELINES
EFFECTIVE 04/09/2015
Index
Agent Services
2
Rating Rules
3
Coverages
4
Discounts
6
Surcharges
7
Fees
8
Payment Options
9
Underwriting
Rules
10
Procedures
14
OMNIOR (02/15)AGENT SERVICES
CUSTOMER SERVICE CENTER: 866-300-6433 Customer Service Fax: 800-983-3633 Customer Service Email:
1st 60 days of the new business term AgencyServices@OmniIns.com
61st day & after new business term and all renewals CustomerServiceFax@OmniIns.com
Customer Service Mailing Address: **Do not use for mailing payments**
Omni Insurance Group PO Box 105440
Atlanta, GA 30348-5440 POLICY PAYMENTS
Phone Payment: 800-727-6274
Credit/Debit Card: Visa, MasterCard, Discover Only Mail Payment:
Omni Insurance Group PO Box 105002
Atlanta, GA 30348-5002
Online Payment: https://www.aiico.com/Authentication.aspx CLAIMS
24 Hour Claim Reporting Center: 800-727-6664 Claims Fax: 800-680-1904
Claims Email: claims@omniins.com Mailing Address:
**Do not use for mailing payments** Omni Insurance Group
PO Box 105019
Atlanta, GA 30348-5019 INTERNET SITES:
Web Rating: www.omniagents.com
Omni Agent Resources/Underwriting Guides: www.omni-insurance.com MARKETING
Agency Sales / Marketing Representative:
Shelly D’Amico 866-300-6433 ext. 3617 Shelly.DAmico@OmniIns.com
Regional Sales / Marketing Manager:
Ray Medovich 866-300-6433 ext. 3118 RMedovich@AIICO.com
Marketing Support Team:
866-300-6433 ext. 6599 Atl.sales@OmniIns.com
Agency Commission (Returns): Omni Insurance Group PO Box 105365
RATING RULES
General Rules:• Highest Driver to Newest Vehicle: Continue the process until all vehicles have been assigned a driver. Lowest rated driver(s) are unassigned if more drivers than vehicles.
• Use driver’s age at policy effective date. Exception: If driver has an upcoming birthday within one
month of the policy effective date which will put him or her into a lower rated premium group, use the lower premium group.
• Married person must be living with spouse or domestic partner to be rated as such.
• Pleasure use includes those vehicles not driven for business or commercial purposes. Examples include the following:
To and from work or school
Farm or ranch usage (except the delivery of farm products)
Occasional non-required business use, such as infrequent trips to the bank, post office, court, etc. Symbols: ISO
POINT MAX: No risk will be accepted with more than 20 points. Accident / Violations:
Violations, convictions and/or accidents during the last 35 months are chargeable based upon conviction date. We will charge for the violation with the highest point value resulting from the same occurrence. In the event that an accident and conviction result from the same occurrence, always charge for the accident. POINTS ASSIGNED VIOLATION TYPES FIRST OCCURRENCE ADDITIONAL OCCURRENCE Alcohol 2 1 Speed 1 2 Minor Violation 1 2 Major Violation 4 4
Unverifiable Driving Record* 3 NA
Inexperienced Operator** 3 NA
* Driver for whom an MVR cannot be obtained.
**Insured drivers 20 years of age and older who have less than three years of verifiable driving experience in the U.S.
All accidents are chargeable unless acceptable proof is furnished. Acceptable proof of a not-at-fault accident:
• Police report showing that the other party was cited with a traffic violation
• Police report showing that the insured vehicle was stationary at the time of the accident • Proof that the other party or parties’ insurer paid for damages
POINTS ASSIGNED ACCIDENT TYPES PRIOR 12 MONTHS PRIOR 13-35 MONTHS At-Fault Accident 6 4
COVERAGES
Six and Twelve-Month Programs
BI/PD* UMBI* UMPD* PIP* COMP COLL AD&D
25/50/20 25/50/25 50/100/25 50/100/50 100/300/50 100/300/100 25/50 50/100 100/300 20,000 15,000 25,000 Deductible available $0, $250 100 250 500 1,000 100 250 500 1,000 1,000 min to 20,000 max Customizing Equipment Rental Reimbursement Towing & Labor
Safety Glass Mexico Limited Coverage Named Non-Owner $5000 max, $50 deductible $20 / day, $600 max $30 / day, $900 max $50 or $75 per disablement NO NO Yes
*All vehicles on the policy must have the same limits for this coverage when selected.
Refer to the policy booklet for a complete description of the coverage
BI/PD• Required on all policies
• Limits must be the same on all vehicles
• It is the insured’s responsibility to understand and request the required liability limits for a leased vehicle
PIP
• Required on all policies
• Limits must be the same on all vehicles • Deductible of $0 or $250 available UMBI
• Required at minimum limits
• Limits lower than BI can be selected • May not exceed BI limits
• Available on Named Non-Owner policies and policies with an SR22 UMPD
• Required at minimum limits
• May only be purchased with BI/PD and UMBI • Can NOT be written with Physical Damage coverage • Not available on Named Non-Owner policies • Available on policies with an SR22
TOWING & LABOR
• Not available without comprehensive and collision coverage • Not available on vehicles over 25 years old
• Reimburses the insured for towing & labor expenses each time an insured vehicle is disabled, including mechanical breakdown.
• Coverage pays a maximum of $50 or $75 per disablement
RENTAL REIMBURSEMENT
• Not available without comprehensive and collision coverage • Not available on vehicles over 25 years old
• Provides coverage for temporary transportation expenses incurred by the insured in the event of a loss to a covered vehicle
• Coverage pays up to $20 / day, $600 maximum or $30 / day, $900 maximum for the rental duration NAMED NON-OWNER
• Applies to the Named Insured Only
• Coverage does not apply to a vehicle owned by a member of the household in which the Named Insured resides
• Liability only coverage is available
• SR22 filings are available with this coverage PHYSICAL DAMAGE RULES
• Optional Coverage
• Not available without BI/PD
• Comprehensive deductible can not exceed the Collision deductible • Physical damage coverage only policies are not available
• Comprehensive may not be written without Collision. • Collision may not be written without Comprehensive. • Not available on vehicles over 25 years old
• Inspection / photo may be requested CUSTOMIZING EQUIPMENT
• Not available without Comprehensive and Collision Coverages
• Coverage for permanently installed or attached equipment in excess of $500 must be scheduled. • $50 deductible applies for scheduled coverage
• Not available on vehicles over 25 years old
If Additional Equipment exceeds $5,000, the vehicle is unacceptable for coverage. ACCIDENTAL DEATH & DISMEMBERMENT
DISCOUNTS
DISCOUNT QUALIFICATIONS REQUIRED DOCUMENTATION Anti-Theft Device DiscountVehicle is equipped with an alarm (passive or active) or vehicle recovery system.
N/A
Homeowners Discount
Named insured owns and resides in a house, town home, condo or duplex. Mobile homes do qualify if the policyholder owns the land.
Tax documents, mortgage coupon/statement, homeowner’s declarations page, or deed
In-Agency Discount
Named insured meets qualifications for Transfer Discount, and the prior policy was insured by the same agent with no lapse in coverage.
Prior policy must include name and address of same agent and have no lapse in coverage.
Multi-Car Discount
Policy has at least two vehicles. N/A
Paid-In-Full Discount
Full policy premium is paid at inception. N/A Senior Driving
Discount
Any driver 55 years of age or older who have completed an approved Motor Vehicle Accident Prevention Course in the last 3 years.
Copy of the certificate of course completion. Renewal
Discount
Any renewal policy that does not have a loss in the 35 month experience period prior to the renewal effective date.
N/A Transfer
Discount
Named insured has a minimum of six months of continuous insurance coverage with a carrier other than Omni and no greater than 30 days lapse in coverage.
Proof must include prior policy effective date and expiration/ cancellation date. Examples: Declarations Page, Insurance ID Card, Cancellation Notice (The named insured must be listed as the named insured or driver on the prior policy.) Advance
Quote Discount
Applies to new business policy when the named insured provides proof of prior with no lapse and the OMNI quote is initiated up to 7 days prior to the policy effective date.
Proof of Prior with no lapse in coverage
Non-Owners Discount
Non-owners coverage should be written when an insured does not own a personal auto but needs Liability coverage for the personal operation of a vehicle not owned by the named insured, spouse, or relative. Applies to the named insured and spouse on non-owned vehicles. The named insured or spouse can not give permission to a second permittee to use a non-owned auto.
N/A
Cell Phone Safety Discount
Applies for each qualifying vehicle in which a cell phone disabling device that, when paired with the driver’s phone, will prevent the driver from sending or receiving text or email messages and accessing the internet while driving. Qualifying devices include, but are not limited to the following:
TextBuster@TextBuster.com Origo@DriveOrigo.com Cellcontrol@Cellcontrol.com Quiet Zone Drive@ Quiet‐Zone.com Proof of installation Roadside Assistance Plan B: 15 Miles Plan C: 25 Miles
This is an optional policy level coverage.
If selected, it applies to all listed autos.
No vehicle age or coverage restrictions.
Service provided through Nation Safe Drivers (NSD).
SURCHARGES
Surcharge Qualifications
Business / Artisan Use Acceptable business use vehicles will be surcharged. To be covered, the business use must be disclosed and accepted by us. Excess Vehicle
Surcharge Automatically applies when there are 2 or more vehicles than drivers on the policy. The surcharge will automatically apply at new business or, if during the policy term additional vehicles are added to the policy creating 2 or more excess vehicles.
Business
• Business use includes those vehicles owned or leased by the insured and used in the business or occupation of the insured or driver. Examples include the following:
o Customarily used for work or business other than commuting to or from the principal place of business:
Services - Cable services, telephone repair, A/C services, etc.
Sales – Tupperware, Avon, etc.
o Primarily used by professionals visiting multiple locations per day (Examples: real estate agents, insurance agents, doctors, ministers, accountants, etc.).
o Utilized for pulling a trailer, which is used for business purposes, regardless of the number of locations visited per day.
• Business use is acceptable if the listed driver has an occupation similar to the above.
• Business use is not acceptable for vehicles used in delivery, carrying persons, etc. (see Unacceptable Vehicle Use section).
• The number of business use vehicles cannot exceed the number of listed drivers on the policy with a policy maximum of two business vehicles.
• A surcharge applies to business use vehicles. Artisan
• Artisan use includes those vehicles used to carry tools and supplies between the place of business and job site.
• Artisan designation is acceptable if the listed driver uses the vehicle for the reasons indicated above. • The number of artisan use vehicles cannot exceed the number of listed drivers on the policy with a
policy maximum of two artisan use vehicles. • A surcharge applies to artisan use vehicles. Foreign / International Driver’s License
Assigned to drivers on the policy with a foreign or international license.
Unverifiable Driving Record
FEES
FEE AMOUNT SPECIFICS
Policy Fee $20.00 Included on each policy
Credit Card Fee $3.00 Applied to each debit or credit card payment Installment Fee $8.00 Included in each payment
Late Fee $10.00 Applied to each payment received anytime after the due date
Reinstatement Fee $10.00 Applied each time policy is reinstated with or without a lapse in coverage Cancellation Fee $25.00 Applied to final cancellation of policy due to non-payment of premium NSF Fee $20.00 Applied to all returned checks
SR-22 Fee $15.00 Applied to each SR-22 filing for each operator that is required to file EFT Fee $5.00 Applied to each payment made via electronic funds transfer
PAYMENT OPTIONS
Electronic Funds Transfer (EFT)
EFT may be initiated at time of new business or during the active policy term per endorsement request. However, the down payment can not be withdrawn via EFT and must be submitted by another payment method.
An EFT Authorization form must be completed and signed before EFT is initiated. This signed form must be submitted to the Company and a copy of the form should be provided to the insured for their records.
Any changes for the EFT information (i.e. account number, account type, etc.) will require a new EFT Authorization form to be completed and submitted to the Company.
Any termination request for EFT must be submitted in writing in to Company.
All requests should be submitted 6 business days prior to the effective date of the change. Recurring Credit Card (RCC)
RCC can be utilized in conjunction with all payment plans except for Insured EFT. RCC is a payment option not a pay plan.
RCC requires that the down payment be paid with the credit card that will be used for future installment payments. Credit Card fee is applicable to the down payment and all future credit card fees are waived while on RCC.
The 1st installment invoice will be sent to the insured indicating all future installments’ due dates and amounts. If a policy endorsement causes a change in the remaining installment amounts, a revised invoice will be sent to the insured.
Policy Term Bill Plan Down Payment Installments
6 Month
Paid in Full 100 % None
Basic – 2 Pay 50 % 1 @ 50.0 %
Basic Plus – 5 Pay 50% 4 @ 12.5%
Monthly – 5 Pay 34 % 4 @ 16.5 %
Standard – 5 Pay 25% 4 @ 18.8%
Standard Plus – 5 Pay 20% 4 @ 20%
Same Day – 6 Pay 20 % 5 @ 16.0 %
EFT – 6 Pay 16.7% 5 @ 16.7%
12 Month
Paid in Full 100 % None
Basic Plus – 11 Pay 25 % 10 @ 7.5 %
Basic – 4 Pay 25 % 3 @ 25%
Monthly – 11 Pay 17 % 10 @ 8.3 %
Standard – 11 Pay 12.5 % 10 @ 8.8 %
Standard Plus – 11 Pay 10 % 10 @ 9 %
Same Day – 12 Pay 10 % 11 @ 8.18 %
Insured should sign the RCC Authorization form at the time of policy issuance. RCC can also be added mid-term by contacting our Customer Service Department for handling.
UNDERWRITING RULES:
PROGRAM
• Coverage is offered through Omni Insurance Company. • Policies may be written on a 6 or 12 month basis.
• Policies are billed directly with a variety of payment plans available. • Outside premium financing is not available.
HOW TO BIND COVERAGE
Agents may bind coverage when all of the following are met:
• The risk is acceptable. (Please refer to the Unacceptable Risk section.)
• The producing agent and applicant sign a fully-completed application (including the date and time coverage is bound).
• The required down payment is collected.
• The application and payment are submitted within three calendar days of the effective date.
• Drivers’ License numbers are on the application for all operators including operators that are excluded from coverage.
BINDING DURING SEVERE WEATHER
Binding is NOT allowed for Physical Damage Coverage during a severe weather alert, hurricane, tropical storm, tornado, or flood watch or warning as issued by the National Weather Service.
DRIVER EXCLUSIONS
• All household member 14 years and older (including roommates) must be identified on the application.
• All drivers must be rated or excluded. Drivers with a revoked or suspended license must be excluded. However, a spouse with a revoked or suspended license CANNOT be excluded and therefore must be rated on the policy.
• An exclusion is allowed if the policy premium would increase in excess of $1000 per annual term ($500 per semi-annual term) if the person to be excluded was not excluded; thus causing a financial hardship.
• The named insured and spouses cannot be excluded or deleted without canceling the policy.
• Requests to exclude drivers from coverage must be signed by the named insured on the designated space on the Driver Exclusion Form.
• Excluded drivers are not required to sign the Driver Exclusion Form. • Drivers cannot be excluded from a specific vehicle on a policy. • Drivers requesting an SR-22 may not be excluded.
• In general, all title owners of the vehicle must be listed as drivers on the policy. MARITAL STATUS
• A married person must be living with his or her spouse / domestic partner to be rated as such. • Drivers who are single, widowed, separated, divorced or cohabitating unmarried couples will be rated
as single. Drivers widowed during a policy term will be rated as married for the remainder of the term. Cohabitating unmarried adults may obtain insurance jointly. Only one driver may be the named insured and will be required to sign all coverage elections. The other driver may be listed as an additional insured and additional interest on any vehicle he or she owns or co-owns. Please note:
Omni’s systems presently issue ID cards to the named insured only. Your agency may be asked by the customer to provide ID cards as needed.
DRIVER’S LICENSE STATUS
• Out-of-state license: Driver agrees to obtain a license in resident (policy) state within the time period required by that state.
• Permit Drivers (see Youthful Drivers section): Drivers age 16 or older with a permit will be added to the policy.
• Newly licensed drivers may be surcharged up to three years.
• Drivers without a valid U.S. driver’s license may be surcharged for up to three years. Drivers who hold a valid foreign driver’s license should submit a photocopy with their application.
YOUTHFUL DRIVERS • Students away at school:
o within the same state as the policy state will be rated at the school address. Agent must show alternate garaging address with zip code;
o in a state other than the policy state, the vehicle will be rated at the policy address;
o in Alaska, Hawaii, Massachusetts, Michigan, New Jersey and New York are unacceptable risks. • Drivers under the age of 15 are not rated.
• A driver under age 18 may be listed as a named insured when the application is also signed by a parent or guardian.
FILING INFORMATION (SR-22)
• Financial Responsibility filings may be requested for any resident operator for Oregon. • Out-of-state Financial Responsibility filings are not allowed at this time.
• The name on the filing must appear exactly as it reads on the driver’s license.
• Financial Responsibility filings may not be requested for any operator with a Foreign / International License. Only operators with a valid Oregon driver license number or customer number can obtain an SR-22.
CONSUMER REPORTS
As a matter of good business practice, Omni requires that the agent provide the consumer with prior notice that MVR’s and loss reports will be ordered as a routine part of the underwriting process in order to determine eligibility and/or price for insurance products (or, where applicable, to determine eligibility for payment plan options). Most states also require this notice as a matter of law. The notice may be given verbally, initially, but must be followed up in writing when an application is taken.
TERRITORY
• Omni’s rating program automatically assigns territory based on the mailing address. • If the mailing address is listed as a P.O. Box, an alternate street address is required.
• The principal garaging address for each vehicle must be disclosed where different from mailing address.
UNACCEPTABLE POLICIES
• Named Insureds permanently residing in a state other than the policy state. • More business or artisan use vehicles than listed drivers.
• More than two business or artisan use vehicles on a policy. • Information omitted that is essential to rate and issue a policy.
• Applications with a business, partnership, or corporation listed as the named or additional insured. • If any representation contained in the application or policy change request is false, misleading, or
materially affects the acceptance or rating of the risk by either direct misrepresentation, omission, concealment of facts or incorrect statements, the policy will be null and void as of the effective date of the new business application or policy change. Policy recession shall also apply to misstatement of use and omission of fact. Omni will not provide coverage for any insured who has made fraudulent
statements or engaged in fraudulent conduct in connection with any accident or loss for which coverage is sought under the policy.
• Policies with more than 4 vehicles unless prior approval for 5+ vehicles is received from Agency Services.
UNACCEPTABLE INSUREDS / DRIVERS
• Under the minimum age to obtain a driver’s license, unless holding a valid driver’s permit. • Operators not possessing a valid driver’s license.
• Been convicted of insurance fraud.
• Operators with more than 20 driving record points.
• With three or more at-fault accidents in the 35 months preceding the policy effective date. • Had a policy cancelled or non-renewed due to fraud or misrepresentation.
• With a suspended or revoked driver’s license, unless filing an SR-22 or excluded from the policy. • Operators requiring an out-of-state SR-22 filing.
• Physically, mentally, or emotionally impaired beyond the restricted capacity of his/her driver’s license. • Not residing in the policy state at least 6 months of the year, unless military, government service, or
student away at school.
UNACCEPTABLE VEHICLES (See Vehicle Definition section) Ownership/Title
• Not titled or leased to the named insured or a listed driver. • With a salvaged or reconstructed title.
• Owned or leased by a partnership or corporation. • Without a verifiable garaging address.
Use
• Carrying persons or property for compensation or a fee including, but not limited to: o limousine or taxi services;
o emergency or escort services; or
o delivery service (food, mail, newspapers, magazines, courier, florist, etc.). • Available to multiple drivers for sales, farming, or artisan use.
• Vehicles carrying flammable or explosive substances.
• Vehicles regularly available to non-listed, non-resident drivers. Types/Equipment
• Pickup or sport utility vehicle with a load capacity in excess of 1 ton or Dually . • Flatbed, stake, modified bed or dump truck.
• Van with a load capacity in excess of ¾ ton.
• With a gross vehicle weight in excess of 10,000 pounds. • With a cost new value in excess of $60,000.
• With less than four wheels. • Not registered for street use. • Gray market vehicles. • Fully electric vehicles.
• Kit, classic or antique vehicles. • Any vehicle manufactured in China. • Altered, modified or customized:
o For reasons including, but not limited to performance, racing, drag contests, stunting, competition or show.
o With equipment, including, but not limited to cooking, bathroom, or snowplowing. UNACCEPTABLE FOR PHYSICAL DAMAGE
• With existing damage of $500 or more, unless inspected by the agent and submitted with a complete description of the damage. Photos may be required. Damage cannot affect the safe operation of the vehicle.
• With a salvaged or reconstructed title. • Vehicles over 25 years old
o Age of vehicle (may not exceed 24) = Current calendar year minus (-) vehicle model year o For example, in 2013:
a 1989 vehicle would be acceptable for physical damage.
a 1988 or older vehicle would not be acceptable for physical damage.
• Physical damage added mid-term to a vehicle on an existing policy without also adding a lien-holder requires prior approval and may require an inspection with photos.
• Any vehicle listed below:
VEHICLE DEFINITIONS
• Conversion Vehicles are incomplete vehicles that have been completed for acceptable personal or business/ artisan usage.
• Customized Vehicles are vehicles with added features, such as pin striping, wheels, tires, captain’s chairs, tinted windows, etc. These features may be covered under Customizing Parts and Equipment Coverage.
• Electric Vehicles are vehicles that run solely on electricity.
• Gray Market Vehicles are vehicles not originally built to U.S. pollution and safety requirements. • Incomplete Vehicles are vehicles purchased from a manufacturer that consist of, at a minimum, frame
and chassis structure, power train, steering system, suspension system and braking system.
• Kit Vehicles are vehicles whose parts may be purchased in kit form and later assembled. Kit vehicles may also be completely original designs.
• Salvage Vehicles are vehicles that have been deemed a total loss for reasons including, but not limited to damage caused by theft, vandalism, accident or natural disaster.
• Vehicles with Existing Damage are vehicles with some form of unrepaired physical damage at the time coverage is requested.
All MODELS: ALFA ROMEO, ARO, ASTON MARTIN, AUSTIN, AVANTI, BENTLEY, BERTONE, BRICKLIN, BUGATTI, CITROEN, DCX SPRINTER, DELOREAN, DUESENBERG, EXCALIBUR, FERRARI, ROUSH, SALEEN, JENSEN, LADA, LAFORZA, LAMBORGHINI, LANCIA, LOTUS, MASERATI, MAYBACH, MCLAREN, PANOZ, PANTERA, PEUGEOT, PININFARINA, ROLLS ROYCE, SPRINTER, STERLING, STUTZ, TESLA, TRIUMPH, TVR, YUGO
ACURA NSAll AUDI A1, A8 BMW Z8 BMW 850 CHEVROLET Corvette, 3500HD, G-20,G-2500, G-30, G-3500 DODGE B-2500, B3500, DRW, SPRINTER FORD DRQ, E-250, E-350, GT, SHELBY GMC 3500HD, EV=1, G-2500, G-3500 JAGUAR AllJ8 MERCEDES SL500 PLYMOUTH PROWLER PORSCHE 911 CARRERA SATURN SKY SHELBY COBRA SUBARU WRAll
NEW VEHICLES
Contact our Customer Service Department for any vehicle not listed in the Omni rating program. Vehicle symbols will be assigned based on comparison of such new models to similar existing vehicles.
Final Underwriting Authority
We reserve the right to make final underwriting decisions on all applications. A combination of factors may cause an application to be unacceptable even though not specified in this guide. All requests for exceptions must be made through your underwriter.
PROCEDURES
COMMISSION• Commission is paid in advance for the full policy term. • Net commission is paid at the close of each month. APPLICATION
• All new business must be uploaded through our website. Applications and related forms must be signed by the Agent and the applicant.
• If an application is to re-write a previously cancelled policy, and there is earned premium due on the cancelled policy, the amount of earned premium due must be submitted. If the full balance due is not received, the new policy will be cancelled and the outstanding earned premium will be deducted from any refund.
• A down payment is required with each new business submission. ACCOUNTING
The following is included in agent monthly statements: • New business and renewal policies
• Endorsements
• Cancellations and reinstatements • Commission
POLICY ISSUANCE
• The agent must deliver the policy booklet to insureds at the time the application is completed. • The company will send the declaration pages directly to the Insured and notify the listed lien holder. UPRATES AND DOWN PAYMENT SHORTAGES
When an up rate or down payment shortage occurs, an additional down payment will be necessary. The additional down payment will be billed to the insured with the original declarations page.
ENDORSEMENTS
Endorsement can be uploaded through our website.
• Resulting additional premium charge (AP) or return premium credit (RP) is spread over remaining installments.
• Endorsements requiring a signed form must be signed by the applicant and kept on file. • Endorsements resulting in a revised premium will be provided real-time.
• All changes requiring premium adjustments shall be computed pro rata.
• An updated policy declarations page and payment schedule will be mailed the day after the endorsement is processed.
CANCELLATIONS
• A policy is void when down payment funds do not clear the banking institution. • Company-initiated cancellations for underwriting reasons are pro-rated. • Non-payment cancellations are calculated pro-rata.
• All other cancellations (EXCLUDING insured-requested) are calculated pro-rata. • Insured requested cancellations are canceled short rate (90% of pro-rata.)
REINSTATEMENTS WITH NO LAPSE IN COVERAGE
• A policy that is canceling for non-payment of premium may be reinstated when the past-due amount is either postmarked or received in our office prior to the cancellation date (shown on the cancellation notice). Policies cancelled for any reason other than non-payment will be reinstated ONLY if all requested information is postmarked on or prior to the effective date of cancellation and all payments are current.
• If requesting a reinstatement with no lapse in coverage, a completed No Loss / No Claim Statement must be submitted along with the past due premium amount. The reinstatement request must be made within 4 days of the cancellation effective date.
• A new application must be completed if the required steps for reinstatement are not fulfilled. REINSTATEMENTS WITH A LAPSE IN COVERAGE
Policies cancelled for non-payment of premium will be reinstated with a lapse in coverage as of 12:01 AM the day following payment or postmark date if:
1. The postmark or payment date is within 29 days of the cancellation date.
2. The insured has paid the entire amount due and this payment is honored by the financial institution. 3. The policy is not in the last 30 days of its term without a renewal offer.
All of the following must be forwarded to Omni: 1. All information that was previously missing. 2. A No Loss / No Claim Statement, if requested. REFUNDS
There are occasions when the company owes unearned premium back to an insured or agent. Refunds are mailed to the insured at the current address on file, unless otherwise requested. If it is necessary to mail the refund to the agent or a different address, please contact Customer Service.
Refunds are computer generated approximately 30 days from the last payment transaction to allow ample time for the payment to clear.
RENEWALS AND NON-RENEWALS
• Thirty days prior to the expiration date, a renewal offer is sent to the insured with a bill for the renewal premium or down payment.
• If the bill is not paid, the renewal offer will expire for non-payment.
• The renewal down payment on 6 and 12 month policies is one month’s premium followed by monthly installments.
• If Omni elects to non-renew your customer, a notice of non-renewal will be sent at least 30 days prior to the anniversary date of the policy.
RENEWAL REPLACEMENT POLICY
Renewals may be reinstated with a lapse in coverage of up to 30 days from the effective date of the renewal policy.
If a renewal down payment is paid within 30 days of the renewal effective date, a replacement policy will be issued with a lapse in coverage.
The replacement policy will be effective on:
• The date and time of the electronic payment; or
• The date Omni receives the renewal down payment if payment is sent directly to Omni by the insured. CLAIMS
• All losses should be reported to our office by telephone immediately after an accident. New claims may be reported 7 days a week. Voice-mail will be used after normal business hours.
