SC WIND & HAIL ASSOCIATION - CHANGES

The SC wind & hail association is making quite a few changes that all home buyers and their real estate agents should know about.

1. Effective October 1, 2007 a rate change of up to + 35 % will apply to all new and renewal business. The barrier Islands are hit the hardest.

2. Minimum Deductible available is 3%, optional deductibles of 4% , 5%,10% are available.

3. Replacement cost not available if home built before 1950. Replacement cost is removed at renewal if home built prior to 1950.

4. A flood policy is required as of January 1st 2008 in order to get replacement cost on the dwelling. Simply put, no flood-no replacement cost.

5. 15 day waiting period if no closing. Must bind coverage 24 hrs prior to closing to have effective date the same as date of closing,
15 day waiting period begins the next day after receipt of premium /app/pictures in SC wind & hail office in Columbia SC.. This is important to note due to the slow mail time. This could be a problem during hurricane season

If you have any questions or concerns feel free to call me, Sam Schirmer , Agent/Owner 843-881-4707 Email: schirms@nationwide.com