New Hurricane Coverage Fills the Gaps

Nothing gives Floridians more stress than having to worry about their options if and when a hurricane damages their homes. Flooding or roof damage is usually under separate policies and residents are on their own when it comes to evacuation expenses. Well, now there is a niche coverage that reimburses expenses paid out-of-pocket that are not covered by traditional insurance providers.

StormPeace, offered by Assured Risk Cover, offers to wire money to account holders within three days after a storm with no adjusters, inspections, or deductibles. They do require 45 days to submit proof of any and all losses. After Hurricane Irma hit last fall, nearly one third of insurance claims were closed without payment. This was because the estimated costs fell short of the policyholders’ deductibles, forcing them to pay the difference.

StormPeace has been well received. The Florida Association of Insurance Agents has endorsed it. It has also spurred the founding of competitors in other states hurricane vulnerable to hurricanes.

This update is presented by the Miami Beach real estate team representing Blackstone International Realty, specializing in the Continuum in South Beach. If you are interested in Miami Beach condos such as the Continuum South Tower for sale, call the Continuum experts at 305-588-2451 for information on sales and rentals.