“We are excited to offer homeowners flexible options to insure their property for flood damage, which is not covered under standard home insurance policies,” mentioned Paul VanderMarck, chief expertise and innovation officer at SageSure. “Hurricane Ian is the most recent reminder of the importance of flood insurance, not only for homeowners in the areas recognized as highest risk, but also in lower-risk areas where flooding can still cause catastrophic damage.”
SageSure’s flood program is obtainable via its provider companion, SURE, as further protection on SURE house insurance coverage insurance policies. The program was developed in partnership with a number one international reinsurer, SageSure mentioned.
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Approximately 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 house and property the identical method they do underneath conventional house insurance coverage insurance policies. Policyholders also can select inexpensive partial-coverage choices.
“SageSure is dedicated to protecting homeowners in catastrophe-exposed markets,” VanderMarck mentioned. “We listened carefully to our producing partners; concerns about the shortcomings of existing flood insurance options in the market and invested in developing an innovative new product that will make it possible for many more homeowners to affordably insure their property against flood damage. We look forward to working with our producers to help close the protection gap in Texas and beyond.”