The Indiana Basic Property Insurance Underwriting Association, also known as the FAIR Plan, is a voluntary association of licensed insurance companies in the State of Indiana. Established in 1968, the FAIR Plan provides property insurance to applicants who have been unable to secure coverage through the normal insurance market, serving as a last resort option. It offers dwelling and commercial insurance to Indiana residents who have been declined coverage by at least three non-related insurance companies, with maximum coverage amounts for building and contents.
The Indiana FAIR Plan operates independently from the Indiana Automobile Insurance Plan (IAIP), which provides automobile insurance to individuals who are unable to obtain coverage through the voluntary market. The FAIR Plan's funding comes from premium income and, if necessary, assessments paid by its member companies to cover policy loss claims and administrative expenses. Visitors to the FAIR Plan office must schedule an appointment, and more information on the IAIP can be obtained from licensed insurance agents in Indiana.
Generated from the website