New HO5 Homeowners Insurance in Florida: Comprehensive Coverage for Newly Built Homes
Security First Insurance has partnered with Embark MGA to launch an innovative homeowners insurance program exclusively for buyers of newly built homes in Florida. Designed to address the state’s specific challenges, such as hurricanes and severe storms, this program offers enhanced coverage to protect homeowners from devastating financial impacts.
Why Florida Homeowners Need Insurance
In Florida, homeowners insurance is essential. With the ever-present threat of hurricanes, floods, and severe weather, repair or rebuilding costs can soar into the hundreds of thousands of dollars. Furthermore, most mortgage lenders require homeowners insurance to safeguard their investments.
What Makes This New HO5 Policy Stand Out?
The program introduces an HO5 insurance policy, one of the most comprehensive coverage types available. Here’s why it’s better than traditional HO3 policies:
Broader Coverage: HO5 policies cover the home, personal belongings, and additional risks often excluded by HO3 plans, such as certain types of water or accidental damage.
Higher Limits: This policy offers higher coverage limits for personal property, ensuring peace of mind during unexpected events.
Simplified Claims: A more streamlined claims process means faster resolution for homeowners.
A Seamless Experience for New Home Buyers
The program is designed to simplify the insurance process for buyers of newly constructed homes. Through integration with the mortgage qualification process, it automatically pulls:
Home inventory data
Community details
Builder-provided model information
This eliminates the need for lengthy applications and ensures accurate, bindable insurance quotes upfront, reducing delays and common roadblocks for homebuyers.
Addressing Florida’s Insurance Crisis
Florida’s homeowners insurance market has faced significant challenges, with over 30 insurance companies exiting the state. Rising costs—averaging over $4,000 annually for many residents—have left homeowners searching for reliable and affordable options.
The Security First and Embark MGA partnership is a step toward alleviating these pressures. The new HO5 policy provides:
Comprehensive coverage tailored to Florida’s risks
Flexibility for homebuyers
A more affordable solution amid rising premiums
Conclusion
If you’re buying a newly built home in Florida, this innovative HO5 insurance program is designed to protect your investment and streamline the insurance process. Offering enhanced coverage, simplified claims, and peace of mind, this partnership addresses Florida’s unique risks.
Contact a licensed insurance agent today to learn more about this comprehensive HO5 policy and secure the protection your home deserves.