Coastal Homeowners Insurance

What is a High Risk Coastal Location ?

A high risk location is defined as an area that  is more susceptible to certain perils covered under the homeowners policy. For example,  if your dwelling is located at the beach or in a coastal area, it is  considered more susceptible to the peril of  windstorm and tidal surge.

Your home is your probably your most valuable asset and should be protected with the best possible home & flood insurance coverage. For homeowners living in coastal counties, those options are sometimes insured with policies that have stripped down coverage’s or (E&S) carriers that do not carry financial ratings through A.M. Best. With the introduction of our Coastal Homeowners Insurance Program you don’t have to settle for second best when insuring your home.

Our Coastal Homeowners Insurance Program (HO-3) policy is designed to provide comprehensive property coverage (including wind) as well as liability coverage for homes in coastal areas. The policy provides insurance related to most risks, including losses or damages to your dwelling and contents due to hurricanes, windstorms, hail, fire, lightning and theft. There is coverage for your other structures as well as additional living expenses in the event you cannot live in your house while it is repaired due to a covered loss. Liability coverage includes personal liability coverage or judgments when you are liable for damages or injuries to others as well as medical payments to others.

Highlights of typical coastal coverage options

•Coverage A dwelling property coverage for homes◦Property
◦Contents Replacement
◦Liability
◦Medical Payments
◦Additional Living Expenses

•“A” Rated or better Admitted and Non-Admitted Markets

Hard-to-place risks accepted

◦Low credit scores
◦Claims history
◦Lapse in coverage
◦Coastal
◦Protection Classes 9 and 10
◦Homes with fire losses (with Fire Marshal Report)
◦Homes with fuses
◦No bankruptcies, foreclosures or repossessions in the last five year

•Construction types accepted:

◦Frame
◦Masonry
◦Veneer
◦Stucco or EIFS (Synthetic Stucco)
◦Log
◦Cinder block

•Multiple deductible options $500 – $5,000
•Direct Bill available on renewal policies
•Fire Marshal Report required if previous fire claim

Additional Options

•Increased Ordinance of Law
•Extended Replacement Cost (home built in 1950 or newer)

•Personal Article Floater

◦Jewelry, furs, cameras, musical instruments (personal use only), silverware, golfer’s equipment, golf carts, fine art, postage stamps, rare and current coins, guns/firearms, bicycles
◦Can be written as a standalone policy or as a package policy
◦Appraisal requirements: jewelry $5,000+ and all other items $10,000+

•FEMA – NFIP Flood Insurance Primary and Excess Flood Coverage Personal or Commercial Policies Available

◦All flood zone (excludes COBRA and non-participating communities)
◦Single family dwellings, 1-4 family dwellings, condo and townhomes
◦Flood zone A and V may require elevation certificates for quoting
◦Up to $5,000,000 TIV
◦No restrictions on Coverage Limits (Can not be excess replacement cost of home. No minimum requirements)

Other Coverage’s
•Identity Theft
•Earthquake – availability varies upon state and market
•Personal Injury
•Golf Cart coverage
•Water Back-up
•Animal Liability (no vicious breeds)

A little extra time may be needed for quoting hard-to-place single family coastal home insurance policies with 1-2 families valued at $600,000 or more, however we can move things along for you.

Targeted Classes of High Value Coastal Home Insurance Customers:
•HO-3 Special Form (covers most every home type) and HO-5 Comprehensive Form
•Primary Homeowners plus one additional line of supporting business may or may not be required for Preferred or Admitted market carriers ◦Automobile ◦Umbrella ◦Rental Property etc.

Important things to make note of.
•Protection Classes 1-10
•Hard-to-place risks including Coastal properties
•Trusts & LLCs Ownership
•High profile individuals accepted
•All construction types

Highlights of a typical policy High Value Coastal Home Insurance Policy:

•Coverage A dwelling property coverage for homes valued $600,000+◦Property
◦Contents Replacement
◦Liability
◦Medical Payments
◦Additional Living Expenses

•“A” Rated or better Admitted and Non-Admitted Markets
•Guaranteed Replacement Costs, may vary by state and carrier
•Up to two claims accepted based on cause and payout amount for Admitted markets
•Tailored coverage and limits to meet the needs of high-end clients
•Wind mitigation credits available
•Multiple deductible options, $500 – $5,000
•Direct Bill available on renewal policies
•Fire Marshal Report required if previous fire claim

Additional Possible Coverages for High Value Coastal Home Insurance Policies:

•Increased Ordinance of Law
•Extended Replacement Cost (home built in 1950 or newer)
•Personal Article Floater (both blanket and scheduled property)◦Jewelry, furs, cameras, musical instruments (personal use only), silverware, golfer’s equipment, golf carts, fine art, postage stamps, rare and current coins, guns/firearms, bicycles
◦Can be written as a standalone policy or as a package policy
◦Appraisal requirements: jewelry $5,000+, all other items $10,000+

•Excess & Primary High Value Coastal Home Insurance Flood Policy:

◦All flood zone (excludes COBRA and non-participating communities)
◦Single family dwellings, 1-4 family dwellings, condo and townhomes
◦Flood zone A and V require elevation certificates for quoting
◦Up to $5,000,000 TIV
◦No restrictions on Coverage Limits (Can not be excess replacement cost of home. No minimum requirements)
◦Home Protection Form

•Identity Theft
•Earthquake
•Personal Injury (excluding high profile individuals)
•Golf Cart coverage
•Water Back-up and Sump Discharge or Overflow
•Animal Liability (no vicious breeds)
•Equipment Breakdown
•Personal Umbrella◦Admitted up to $5M
◦Non-Admitted up to $10M
•Automobile Coverage
•Yacht Coverage
•Watercraft up to 26ft