1. . www.InsuranceCommunityUniversity.com Steps in reviewing residential properties and identifying exposures 1

2. . www.InsuranceCommunityUniversity.com Steps in reviewing the residential property and identifying exposures 1.Conduct a Residence Inspection 2.Identify the types of residences to be insured 3. Identify the types of occupancy for each residence 4.Obtain information on the insured, ownership of the residence, and occupants 2

3. . www.InsuranceCommunityUniversity.com Steps in reviewing the residential property and identifying exposures 5.Complete the Residence Location Survey Sheet 6.Identify Hazards 7.Complete the Hazard Questionnaire 8.Determine which program and type of policy the insured is qualified for 3

4. . www.InsuranceCommunityUniversity.com Steps in reviewing the residential property and identifying exposures 9.Complete the Homeowners Application 10.Determine which insurance companies are best suited for the risk in terms of eligibility, coverages and pricing 11.Submit the applications to the insurance companies 4

5. . www.InsuranceCommunityUniversity.com 1. Conduct a Residence Inspection  Many insurance companies either require or expect that the insurance representative will physically see the property they are insuring and meet to prospective insured  Inspections help in valuation and identifying potential hazards 5

6. . www.InsuranceCommunityUniversity.com 2. Identify Type of Residential Property  Single Family Dwelling,  Duplex;  3-4 Family Dwelling;  Townhouse;  Condominium;  Cooperative;  Apartment Unit;  Mobile Home;  RV (Motor Home, Fifth Wheel, Other) 6

7. . www.InsuranceCommunityUniversity.com 2. Identify Type of Residential Property  An insured might have multiple residences that they own and/or rent. Some of the residences may be owner occupied as primary residences while others could be seasonal; part time; or rented to others. 7

8. . www.InsuranceCommunityUniversity.com 3. Identify Type of Occupancy  Own the residence and Occupy as primary residence  Own the residence and Occupy as a secondary or part time residence  Own the residence and Occupy as a residence on a farm  Own the residence on a farm and rent it out  Own and Occupy in part and rent out part of the residence (Duplex, 3-4 Family Dwelling)  Own and Rent to Others  Rent 8

9. . www.InsuranceCommunityUniversity.com 4. Identify Type of “Ownership”  Husband and Wife (Vesting)  Husband or Wife (Vesting)  Domestic Partners (Vesting)  Individuals  Co-Owners  Estate Arrangement  Family or “other” Trust  Contract of Sale  LLC 9

10. . www.InsuranceCommunityUniversity.com 5. Complete the Residence Location Survey Sheet  The university has provided a residence location survey sheet in their checklists 10