Condominium unit owners can now close the flood protection gap
BOSTON–(BUSINESS WIRE)–#floodinsurance–ShoreOne Insurance Managers, Inc. has launched a comprehensive condominium unit owners policy that includes full flood coverage at a very affordable cost.
Historically, condominium unit owners have relied on uncertain flood insurance through their associations, very often leaving a dangerous gap in coverage. Now, unit owners can rest assured that they will have full coverage for their unit’s additions and alterations, contents, as well as loss of use in the event of a flood.
Frequently, condominium unit owners believe that they are not at risk of flooding, particularly if they are on a higher floor. Most do not recognize that they are exposed to growing temporary housing costs while their building is restored.
ShoreOne has been closing the flood protection gap for thousands of homeowners since launching in South Carolina and New Jersey in early 2021. ShoreOne is in the process of entering additional states in the Northeast.
“In the wake of Hurricane Ida, we have seen increasing awareness of the flood coverage gap on the part of agents, as well as the home owners and condominium owners who they serve. People are realizing that a flood can happen anywhere — not just in the zones deemed high risk by FEMA,” said Cameron Rhodes, President and Chief Operating Officer of ShoreOne Insurance Managers, Inc.
About ShoreOne Insurance
ShoreOne Insurance Managers, Inc. was founded in 2019 to address the significant coverage gap that flood-exposed coastal homeowners face. Rather than placing the burden on homeowners to piece together coverage for their properties, ShoreOne provides one policy that covers both traditional homeowners’ perils and flood. ShoreOne policies are distributed through independent insurance agents with strong technical expertise and experience in solving coastal insurance problems. ShoreOne is backed by some of the largest reinsurers in the world who have combined assets in excess of $90 billion. Bringing together experienced leadership, proprietary technology, and a family-friendly way of doing business, ShoreOne is taking better care of coastal homeowners.
Satvinder Dhami – Press@shoreoneinsurance.com
ShoreOne Insurance Managers, Inc.