Wednesday, December 7th, 2022

SageSure launches residential flood product

“We’re excited to supply owners versatile choices to insure their property for flood harm, which isn’t coated underneath customary residence insurance coverage insurance policies,” mentioned Paul VanderMarck, chief expertise and innovation officer at SageSure. “Hurricane Ian is the latest reminder of the significance of flood insurance coverage, not just for owners within the areas acknowledged as highest danger, but additionally in lower-risk areas the place flooding can nonetheless trigger catastrophic harm.”

SageSure’s flood program is out there by means of its service companion, SURE, as extra protection on SURE residence insurance coverage insurance policies. This system was developed in partnership with a number one international reinsurer, SageSure mentioned.

Learn subsequent: SageSure launches business insurance coverage line in coastal areas

Roughly 70% of house owners impacted by flooding from Hurricane Harvey in 2017 didn’t have flood insurance coverage, in response to CoreLogic. This was a part of a sample of excessive ranges of uninsured losses in Texas, with different current occasions together with the Tax Day Floods of 2016 and the July 2021 flash floods in South Texas.

The SageSure program gives complete, full-limit protection in order that owners can comprehensively shield their residence and property the identical means they do underneath conventional residence insurance coverage insurance policies. Policyholders also can select cheaper partial-coverage choices. 

“SageSure is devoted to defending owners in catastrophe-exposed markets,” VanderMarck mentioned. “We listened rigorously to our producing companions; issues concerning the shortcomings of present flood insurance coverage choices out there and invested in creating an progressive new product that can make it potential for a lot of extra owners to affordably insure their property in opposition to flood harm. We look ahead to working with our producers to assist shut the safety hole in Texas and past.”

Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *