Someone Tell Me how Picky Foremost Is?

[indienoise]

I don't really NEEEEEED an appointment with them, but it would be nice to have the additional option for both auto and property. I wasn't going to bother with them, until I had a prospect who got a better price from National General (who is normally not even anywhere APPROACHING competitive in our state) and I was thinking I could sure use the extra option in the rare occasion they might give a better price on nonstandard auto, and I would probably place the odd property risk with them here and there, and possibly collector car, if their product is halfway decent. I've got plenty of opportunities with that, even though I realize Hagerty would probably be preferable.

My two questions are: do they normally have much in the way of production expectations? Or if I'm throwing them a little business here and there would they be alright with it?

Also, I don't remember ever seeing it in their rating website before, but do they do any HO4 at all?

 

[insurance1822]

I don't really NEEEEEED an appointment with them, but it would be nice to have the additional option for both auto and property. I wasn't going to bother with them, until I had a prospect who got a better price from National General (who is normally not even anywhere APPROACHING competitive in our state) and I was thinking I could sure use the extra option in the rare occasion they might give a better price on nonstandard auto, and I would probably place the odd property risk with them here and there, and possibly collector car, if their product is halfway decent. I've got plenty of opportunities with that, even though I realize Hagerty would probably be preferable.

My two questions are: do they normally have much in the way of production expectations? Or if I'm throwing them a little business here and there would they be alright with it?

Also, I don't remember ever seeing it in their rating website before, but do they do any HO4 at all?

Rumor has it they ask for $25,000 production per year. You most likely won't ever hear from your rep unless it's to talk about their "new motorcycle discounts." Plus your rep will quit every 3 months so it's constantly changing. They'll appoint anything w/ a heart beat. I've had them for 3.5 years and wrote 2 auto policies w/ them. I have about $30,000 in premium on the books w/ them...mainly vacant homes.

 

[indienoise]

I wonder if they don't bother you since you're in with SIAA? I didn't have them for auto when I was with Nationwide, only property, but not for long enough to really do any business with them. So I'm wondering if they'll look at that big zero under my old number and tell me no. It won't really hurt my feelings that much if they, I guess.

If they try to impose a production requirement on me, though, I'm pretty sure it won't happen. In which case, I guess I've got better ways to spend my time anyway.

 

[Dave864]

In my state, they are very competitive with motorcycle and boat. In fact, they have great policies for those two. I rarely use them for nonstandard auto.

They're property niche is vacant properties. I use them exclusively for clients who flip homes under renovation. They can be very picky with homeownes, mobile homes, and rental properties. In SC mobile home must be 6 years or newer and client must have good credit. Other than that, they don't really care about loss history on property insurance.

They have an HO4 for mobile homes; not sure why you would use them for an HO4 otherwise.

Foremost is quick to pick up on underwriting but don't really make exceptions for property policies. They also leave the office at (what seems like 4:59) so sometimes not being able to get ahold of an underwriter can be frustrating.

 

[Chrisl]

We're glad we have them. I couldn't tell you where our numbers are with them at present, but it's low; less than $100K for sure. We've never had anyone from Foremost lean on us in regard to production.

We regard them as having the same niche as we do Progressive for auto: Multiple property claims? Foremost. Non-continuous property insurance? Foremost. We don't waste time or jeopardize our loss ratios by trying to convince one of our "standard" markets to write a borderline (or harrier) risk. We quote/write with Foremost for all of those and feel good doing it.

Some agencies in our area regard Foremost as a place to write properties that should be written with the Fair Plan based on condition. We don't Foremost has guidelines for condition, roof, etc so we stick to that.

So.....they work for us!

ChrisL

 

[indienoise]

We're glad we have them. I couldn't tell you where our numbers are with them at present, but it's low; less than $100K for sure. We've never had anyone from Foremost lean on us in regard to production.

We regard them as having the same niche as we do Progressive for auto: Multiple property claims? Foremost. Non-continuous property insurance? Foremost. We don't waste time or jeopardize our loss ratios by trying to convince one of our "standard" markets to write a borderline (or harrier) risk. We quote/write with Foremost for all of those and feel good doing it.

Some agencies in our area regard Foremost as a place to write properties that should be written with the Fair Plan based on condition. We don't Foremost has guidelines for condition, roof, etc so we stick to that.

So.....they work for us!

ChrisL

I've seen the type of agencies you're talking about posting about them on here. In my experience, I don't see how they're placing business with them, because they definitely have guidelines and don't mind declining business!