“We’re excited to supply householders versatile choices to insure their property for flood harm, which isn’t lined below customary residence insurance coverage insurance policies,” mentioned Paul VanderMarck, chief know-how and innovation officer at SageSure. “Hurricane Ian is the newest reminder of the significance of flood insurance coverage, not just for householders within the areas acknowledged as highest threat, but in addition in lower-risk areas the place flooding can nonetheless trigger catastrophic harm.”
SageSure’s flood program is accessible via its provider 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.
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Roughly 70% of householders impacted by flooding from Hurricane Harvey in 2017 didn’t have flood insurance coverage, in line with 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 presents complete, full-limit protection in order that householders can comprehensively defend their residence and property the identical approach they do below conventional residence insurance coverage insurance policies. Policyholders may select inexpensive partial-coverage choices.
“SageSure is devoted to defending householders in catastrophe-exposed markets,” VanderMarck mentioned. “We listened fastidiously to our producing companions; considerations in regards to the shortcomings of present flood insurance coverage choices out there and invested in growing an progressive new product that may make it potential for a lot of extra householders 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.”