Owners of high-value, high-risk home in California are being offered broader coverage than is typically found in the high net worth Excess & Surplus (E&S) market by the PURE Group of Insurance Companies.
In addition, the group says brokers who serve these individuals will benefit from a faster, easier and more efficient process.
This offering is being introduced following the Camp and Woolsey wildfires, a series of high-profile and destructive fires that tore through the state.
Included in PURE Programs’ High Value Homeowners policy is Extended Replacement Cost coverage, which provides up to 200% of the insured limit for non-wildfire related losses and up to 125% of the insured limit for wildfire related losses (with the option to purchase up to 150% of the insured limit for wildfire related losses).
Should the cost to rebuild after a loss prove greater than the limit of insurance shown on the declarations page; a waiver of the All Other Peril deductible in the event of a large loss; and a loss prevention allowance to help cover the cost of taking steps to prevent a loss from reoccurring.
In California, PURE Programs also offers Coverage for Earthquake, Excess Flood, Jewelry, Fine Art and other Collectibles by endorsement, and a Builders Risk policy for homes under construction or renovation.
In addition to the confidence that their clients are better served, brokers benefit from a more efficient quoting, underwriting and administrative process, agency download and a direct bill process with quarterly billing and up to 30 days to pay.
The group says Brokers work directly with PURE Programs’ dedicated in-house high-net worth E&S underwriters as well as PURE Programs’ state-of-the-art policy quoting and administration systems.
“PURE Programs has moved the Personal Lines E&S market into the 21st Century. By committing to a mission which focuses on client protection and broad based logical services, coupled with the ease of business for the broker, they are propelling some much needed change,” said Steven Brown of Hoffman Brown Company.