1 Location Per 1 Policy: TWIA Residential Is TransitioningPublished on: March 5, 2020
Attention agents: We are updating our systems to transition away from covering multiple insured locations on a single residential policy. The updates will go live after business hours on March 11 as part of routine TWIA system updates (view upcoming maintenance schedule).
Effective March 12, 2020:
- New business submissions for residential policies will only allow one insured location per policy
- Existing residential policies will not be able to add additional insured locations
- The “Add Location” button will no longer be available in TWIA Policy Center for residential policies
Existing residential policies that cover multiple locations will not be immediately impacted by this change. However, they will need to be separated into multiple policies before their next renewal. In the coming weeks, TWIA Underwriting will contact impacted agents to provide guidance on this process.
This change will not impact TWIA commercial policies.
Allowing only one insured location per residential policy will:
- Improve the ability to manage policy activities and documentation for each location
- Where needed, allow for each location to have its own claims timeline
- Help ensure the correct location(s) are identified and evaluated during the claims process
- Align with standard residential property insurance industry practices
If you have any questions or concerns about this change, please contact Policy Services at (800) 788-8247 or email@example.com.