At Lighthouse, we are pleased to offer our Beacon Homeowners policy program as our premier policy package that offers many optional coverages and a vast array of discounts for insureds.  The following is a summary of some of the discounts available and what is required to receive these discounts.  If you need more or specific information regarding these discounts, please review the Underwriting Manual located in the Manuals button on the Agency Website.

Book Transfer Discount – This discount requires Lighthouse pre-approval prior to use.  The book transfer discount is available to an insured that had prior insurance and comes to Lighthouse as part of an approved agency book transfer.  If your agency is looking to move a book to Lighthouse, please provide the following to your marketing representative for review:

• A minimum of 3 years PIF, Premium and Claim history with the company from where the book is coming.

Affinity Discount – This discount requires Lighthouse pre-approval prior to use.  The affinity discount is available to an insured affiliated with an organization or school district in which your agency has a strong influence that will lead to writing a large number of policies.  If your agency has such an affiliation, please provide the following to your marketing representative for review:

• The name of the organization or school district, your connection and the expected number of policies expected from the association.

Companion Policy Discount – Does your agency also write this homeowners’ auto policy?  If so, the insured can receive a companion policy discount for maintaining their auto policy with your agency.

Protective Device Discounts – The underwriting and eligibility requirements for these discounts were discussed in a previous Underwriting Corner.

Golden Age Discount – When the named insured and their spouse are both 55+ years old and retired, they are eligible to receive the golden age discount.

Wind Mitigation Discounts - The underwriting and eligibility requirements for these discounts were discussed in a previous Underwriting Corner.

Claims Free Discount – We offer a discount to insureds who have not had any non-Act of God losses within the last 3 years.  All loss information is required to be entered as part of the application process but we do verify the loss history after binding as well.  Act of God (weather) losses do not disqualify an insured from the claim free discount.

Please note, not all discounts are available in all programs or states.  Please refer to the Underwriting Manual of the program you are working with for additional information.  The information provided here is only applicable to Lighthouse Property Insurance Corporation and should not be construed as underwriting guidelines for general knowledge.

Written by: Jennifer Vazquez, CPCU