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ShoreOne Rolls Out Combined Homeowners, Flood Policy in South Carolina February 10, 2021
Massachusetts-based managing general agent ShoreOne created a new coverage for coastal homeowners to address inadequate flood coverage.
ShoreOne’s new offering combines traditional homeowners insurance with full flood coverage in a single policy. Access to the combined policy fills the coverage gap affecting 4.8 million National Flood Insurance Program (NFIP) policyholders.
The new homeowners coverage that evaluates flood risk through proprietary modeling will be rolled out first in South Carolina. It is available through a ShoreOne designed technology platform, developed in partnership with Focus Technologies, that enables agents to issue a complete policy in under one minute. The segmented pricing plan incorporates geospatial features with individual risk characteristics and is backed by reinsurance partners.