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Venture Insurance Partners, Inc
HURRICANE DEDUCTIBLE PAYMENT
Homeowner’s policies typically have a deductible that is a percentage of the dwelling limit. This is often a significant amount of money that the homeowner is responsible for before the insurance kicks in after a hurricane is even triggered.
What limits are available?
A homeowner may purchase from $1,000 to $60,000 of coverage with the maximum limit in an amount equal to the hurricane deductible on the homeowners policy.
For example: insured’s windstorm deductible is $5,000 – may purchase from $1,000 to a maximum of $5,000. If you do not carry wind coverage on your home you may purchase up to the $60,000 maximum limit.
How does it work?
When a named hurricane hits the insured’s location the policy pays a fixed amount – payments are determined by the strength of the named hurricane and how close to the insured property the hurricane passes. Storm Peace uses objective data from U.S. National Hurricane Center – no human interpretation.
PRIMARY HURRICANE COVERAGE
Many homeowners that do not have a mortgage exclude hurricane insurance on their home policy.
StormPeace provides an alternative to endorsing hurricane coverage onto a traditional homeowner’s policy:
StormPeace – a new stand-alone product in the State of Florida designed to provide hurricane coverage that a traditional homeowner’s policy does not cover. The StormPeace product has no deductible; there is no claims process, no adjusters and payment is often received within 72 hours after a hurricane event. There are three ways to utilize StormPeace
1003 W. Indiantown Road, ste 215, Jupiter, FL 33458
HURRICANE PROTECTION PROGRAM
How much does it cost?
Rates range from 2% to 8% of the desired limit. For example: purchasing a limit of $10,000 and the dwelling is located in an area where the rate is 6% the premium would be $600 plus taxes and fees.
Can the policy be cancelled?
No. StormPeace is an annual policy and cannot be cancelled mid-term.
Who underwrites the program?
StormPeace is backed by a highly rated global reinsurer. Policy is underwritten by Topa, an A.M. Best A- rated carrier
Does this policy only cover hurricanes that make landfall?
No. All named hurricanes, whether they make landfall or not, are eligible.Type your paragraph here.
HURRICANE SUPPLEMENTAL COVERAGE
Provides coverage your homeowner's policy does not cover: