Business Details
50+ Years
experience
Your Trusted Source for Property Insurance in Indiana
Established in 1968, the Indiana FAIR Plan was created to provide property insurance solutions for residents unable to secure coverage through traditional markets. As a voluntary association of licensed Indiana property insurers, we operate as a last-resort provider while maintaining strict compliance with state regulations and industry standards. Our funding model combines premium income with member company assessments to ensure financial stability for claims and operations. We specialize in offering standardized dwelling and commercial fire insurance policies with clearly defined coverage limits up to $250,000 for residential properties and $1,000,000 for commercial properties.Our experienced underwriting team follows rigorous verification processes, requiring applicants to demonstrate prior declinations from three non-related insurers. Through our centralized Indianapolis operations, we maintain transparent processes for policy issuance, claims management, and customer service while providing comprehensive documentation and support for both policyholders and licensed agents. Our commitment to regulatory compliance is demonstrated through our structured office operations, documented procedures, and formal appointment requirements for in-person visits.
Services
Dwelling Fire Insurance
Commercial Fire Insurance
Claims Processing
Policy Renewals
Underwriting Services
Agent Support
Premium Payments
Policy Cancellations
Inspection Coordination
Coverage Verification
Details
- Year established: 1968
Highlights and features
- We serve as Indiana's designated property insurance provider of last resort
- We offer standardized coverage up to $250,000 for dwellings and $1,000,000 for commercial properties
- Our underwriting process requires verification of three prior insurance declinations
- We maintain financial stability through premium income and member company assessments
- Our operations are conducted through a centralized Indianapolis office with established procedures
Services
Dwelling Fire Insurance
We provide essential dwelling fire insurance coverage for Indiana residents unable to obtain traditional homeowners insurance. Our DP1 Basic and DP2 Broad policies cover building and contents up to $250,000. Coverage includes protection against fire, lightning, and internal explosion risks with standardized policy terms.
Commercial Fire Insurance
Our commercial fire insurance program serves Indiana businesses that cannot secure coverage through standard markets. Policies provide up to $1,000,000 in combined building and contents coverage for commercial properties meeting our underwriting guidelines. This specialized program follows strict state-mandated requirements.
Claims Processing
We manage property insurance claims through an independent adjusting network. Policyholders report claims through our online system with detailed loss information. Our claims department coordinates with licensed adjusters to evaluate and resolve claims according to policy terms and conditions.
Policy Renewals
Annual policy renewals require updated insurance declination documentation. We process renewal applications while maintaining coverage continuity. Periodic property inspections ensure ongoing compliance with our underwriting standards for policy continuation.
Agent Support
We provide comprehensive support for licensed Indiana insurance agents through our online application system. Services include policy quoting, application submission, and policy status tracking. Agents access specialized resources and documentation to assist clients seeking property insurance solutions.
People
Rick Vasil
Manager
Rick Vasil oversees daily operations of the Indiana FAIR Plan with extensive insurance industry experience. He manages underwriting, claims, and administrative functions while ensuring compliance with state insurance regulations and association standards.
Stephanie Davis
Controller
Stephanie Davis manages financial operations for the Indiana FAIR Plan. With deep accounting expertise, she ensures proper financial controls and reporting for premium collections, claims payments, and association financial management.
Steve Michaels
Operations Manager
Steve Michaels directs operational activities for the Indiana FAIR Plan. He coordinates policy processing, agent support services, and system operations while maintaining efficient business processes across all functional areas.
Questions
How can individuals apply for FAIR Plan insurance?
Consumers must apply through a licensed Indiana insurance agent using our online application system. A premium deposit of $250 or full annual premium must accompany the application.
What coverage limits does the FAIR Plan offer?
Dwelling coverage maximum is $250,000 combined for building and contents. Commercial coverage maximum is $1,000,000 combined for building and contents.
Does the FAIR Plan offer payment plans?
No, we only accept annual premium payments by check, money order, or ACH transfer. We do not accept credit card payments or phone payments.
What types of insurance policies are available?
We offer Dwelling Fire DP1 Basic, DP2 Broad, Homeowners Modified 8 Basic, Homeowners 2 Broad, and Commercial Fire policies meeting specific underwriting guidelines.
How are property inspections conducted?
Independent inspection companies contact applicants to schedule interior and exterior inspections. Inspections are required for all risks and may take up to 30 days to complete.
Can I cancel my FAIR Plan policy?
Yes, written cancellation requests can be submitted by insureds or agents. Refunds are prorated for unearned premiums, with finance companies added as co-payees when applicable.
