With summer fast approaching, many of your clients are likely to be heading to their second or vacation homes on the coast. While a stay by the ocean would ideally be relaxing and incident-free, unfortunately that is not the case; proximity to the coastline brings a number of unique and potentially devastating risks that have led to coastal property being considered a “hard-to-place” property, a term defined by Tennant as one that often is not considered by standard underwriters and markets due to unusual activities, operations, or loss expectancy. However, our multi-peril Property Insurance coverage is specifically designed to cover these hard-to-place risks and will give your clients peace of mind this vacation season.
The Biggest Risks
While coastal property is incredible for its residents, it does come with a number of inherent risks that can be difficult for the insurer (or even the residents) without adequate coverage and preparation. One such risk, especially as we move into summer, is hurricanes and tropical storms. These storms bring high chances of flooding and wind-related damage, and there is an even higher risk for potential floods with rising sea levels. In addition, the National Ocean Service cites other disasters such as tsunamis, landslides, and long-term coastal erosion. With such a variety of potential risks, it is crucial that your clients have the comprehensive property insurance coverage that they need.
How Property Insurance Can Help
Our Property Insurance coverage specializes in tackling coastal property and other properties that may come with more specialized risks than the average residential property. Due to the array of potential risks, coastal homeowners often find themselves forced to having to carry numerous separate policies – such as homeowner’s insurance, flood insurance, excess flood insurance, and wind insurance coverage – just to ensure that they are adequately protected. In a 2013 report by the Union of Concerned Scientists, it was found that the high-risk level of coastal properties led to increased damage, which in turn led to more spent nationwide on post-storm rebuilding. With proper, comprehensive property coverage, your clients can better protect their coastal properties and prevent this type of lasting damage.
Formed in 2013, AmSuisse, Inc. has quickly distinguished itself as a wholesale operation that specializes in working very closely with our agents and broker partners to develop responsive, individualized service for each client. Our unparalleled writing support, industry-specific expertise, marketing support, responsive proposals and quotes, strong customer service, and strong relationships with our carrier partners have all helped us to provide the best possible coverage for our clients. To learn more about our available coverage, contact us today at (800) 485-0229 to speak with one of our representatives.