US Assure is excited to announce a builders risk enhancement for Mississippi Seacoast Tier 1 counties. In response to the needs of you and your clients, we’re taking an even more competitive approach in our pricing structure by lowering our named storm base wind deductible by two percentage points, from five to three percent, at no additional charge in the following counties: Hancock, Harrison, Jackson, George, Stone and Pearl River.
This change means you can now issue a residential or commercial builders risk policy in Mississippi Seacoast counties with a named storm wind deductible endorsement for three percent of the total completed value. The optional three percent wind deductible will not be priced at a higher rate so your client can secure a lower deductible on future projects at no additional charge when compared to the prior five percent base deductible requirement.
Under your guidance, clients have the option to choose between a three, four or five percent wind deductible based on their comfort level of payment should a loss occur during the policy period. Previously, only a five percent wind deductible was offered in these counties.
The option to purchase wind is available with any of our residential and commercial new construction, remodeling or installation builders risk policies. Named storm is available for purchase with all new construction builder risk policies. This excludes remodeling, unsold dwelling, model home contents and trade-ins. A minimum three percent deductible will be applied to policies with wind coverage in a Seacoast Tier 1 county. Projects within 1,000 feet of tidal water continue to be eligible with wind coverage excluded.
Effective July 1, you’ll have the opportunity to secure more automatic and optional coverage enhancements for commercial risks, including the ability to issue online while also securing many of the same coverages only previously available when written on our manual policy. This improvement will also provide you the ability to access, endorse and renew more enhanced commercial policies online when valued up to $10 million.
We’re here to help. Should you have questions about this enhancement, our dedicated team of more than 50+ specialists is available at (800) 800 – 3907.