12/13/2024
❤️Mainstreet (MSA) Insurance Tip! Do you have Mainstreet Insurance, you may want to keep reading.
Hello Neighbors, if you have Mainstreet Insurance they have decided to pull out of Arizona (they say retire) for their Auto and Home business (P&C) and will be sending out non-renewal notices in April of 2025. They will continue to write Commercial Insurance (restaurants, stores, doctor offices...). After 100 years in business and being owned by American Family, they made the announcement that in April the will be transitioning policies to Safeco (depending on your agent/broker if they decide to participate in the transition program), otherwise Mainstreet will be sending out non-renewals and your agent/broker will need to place you with another carrier.
With current market conditions if you are in the wood area, it is very difficult right now to find a policy, especially for secondary/seasonal homes. With my last client up in Pine, I tried 21 companies and nobody would take it. Not fun for your agent/broker and the prices depending on the area and company can be absolutely crazy! How to get the best policy up in the woods is another Insurance Tip I will post soon! Make sure to click the FAV on my business page to get alerted when I post it.
So if you're with Mainstreet (MSA), I would recommend you contact your agent/broker and start the process early. Why Jim? Because on most applications there is a question that you attest to "Have you been canceled or non-renewed in the last 3 (sometimes 5 years)." If you answer yes, it is an instant decline for most companies, if you answer No, that is misrepresentation and the last thing you want to come up in an insurance claim investigation. The issue with the question is that so many insurance companies have not updated their underwriting guidelines to compensate for companies pulling out of state or the fire/brush line scores, so when the agent sets up the quoting software they have to answer yes to the question.
So that is why I recommend getting a head start. If you take my recommendation and do not have the non-renewal letter yet, you can answer No to the question and be ok. :-) The alternative is no fun and can be expensive. Now some companies will have the exception in their underwriting guidelines for a company pulling out of state, but I would guess not many agents realize that may be the case if they are not as analytical as myself and other brokers you find on Nextdoor.
Make sure to share if you have friends that may have Mainstreet (MSA) insurance, they will thank you and you will potentially save them $$$!
Please click FAV on my business page (https://nextdoor.com/pages/kreisman-insurance-group-scottsdale-az-1), like the post to support my business and get alerted to more tips.
Best Wishes - Jim Kreisman, your neighborhood insurance broker in Prescott Valley and Scottsdale.
