ShoreOne Insurance Managers, which combines homeowner and flood insurance, has launched its residential homeowners policy with full flood insurance protection in Massachusetts.
ShoreOne Insurance Managers was established in 2019 to tackle the substantial insurance void that coastal homeowners exposed to flooding encounter.
The company is supported by some of the largest reinsurers in the world. Instead of placing the burden on homeowners by providing separate policies for flood and other perils, ShoreOne offers a single policy that covers both, providing coverage for their properties.
This product is already available for homeowners who live in South Carolina, North Carolina, and New Jersey and have coastal properties. It offers separate deductibles and policies for each property purchased.
In case the resident was forced to leave their home, the flood insurance policies failed to encompass the actual expenses of finding a new home or covering temporary accommodation costs, and they were priced in a generic manner.
Homeowners will find significantly broader coverage and many premium savings compared to their existing insurance policies through ShoreOne, an agency that exclusively sells policies using ShoreOne’s highly customized and proprietary technology, which delivers gap protection that is designed this close to policy.
“We are extremely pleased to have received very strong support from the Insurance Division of Massachusetts,” stated ShoreOne’s Chief Executive Officer, Nick Steffey. “In South Carolina and New York, just like their counterparts in New Jersey, there is a recognized need for more comprehensive flood solutions for coastal constituents.”
“We endorse ongoing expansion in the private flood market. As a prominent agency specializing in coastal regions, we are delighted to witness ShoreOne’s entrance into Massachusetts. Coastal residents, who often face insufficient flood protection, experience a significant gap in coverage. David Robinson, the CEO of RogersGray, further stated.”
In the United States, InsurTech NsureHub partnered with Guardian Leak Detection earlier this year to improve its home insurance offerings.
The partnership aims to offers customers discounts on their home insurance policies, as well as discounts on devices from Guardian Leak Detection.
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