Florida homeowners have a reason to be optimistic with the introduction of a new home insurance solution. Two Florida-based insurers, Security First Insurance and Embark MGA, have collaborated to create an innovative insurance program designed to provide affordable and comprehensive coverage for homebuyers in the state. This new program aims to address the ongoing insurance crisis in Florida, where homeowners have been struggling to find coverage due to skyrocketing premiums and the withdrawal of private insurers from the market.
The new insurance program integrates insurance quotes into the homebuying and mortgage qualification process, making it easier for homebuyers to secure coverage while purchasing a property. This streamlined approach is particularly beneficial in a state where obtaining home insurance has become increasingly challenging. The program is currently available for homeowners purchasing brand new construction homes built by both national and regional home builders.
One of the standout features of this new program is the HO5 policy, which offers the broadest coverage available in the industry. Unlike standard policies, the HO5 policy provides “open-perils” coverage for both the home and personal belongings, as well as coverage for incidents often excluded from traditional policies. This comprehensive protection ensures that new homebuyers have peace of mind knowing their investment is well-protected.
The partnership between Security First Insurance and Embark MGA has also enabled the system to preload builders’ home inventory, community details, and model data, allowing for accurate and bindable insurance quotes without the need for lengthy applications. This integration with builders’ mortgage and title partners helps reduce closing delays and simplifies the homebuying process.
As Florida continues to grapple with the impacts of climate change and natural disasters, this new home insurance solution comes at a crucial time. By providing affordable and comprehensive coverage, the program aims to alleviate some of the financial burdens faced by homeowners and support the state’s housing market. The collaboration between Security First Insurance and Embark MGA demonstrates a commitment to innovation and customer-centric service, offering a much-needed solution for Florida’s homeowners.
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