ShoreOne Celebrates First Year Of Closing The Protection Gap

CHARLESTON, S.C.--(BUSINESS WIRE)--ShoreOne Insurance Managers, Inc. successfully concluded its first year of covering coastal Palmetto State residents with an admitted homeowners policy that includes full flood coverage.

South Carolina homeowners now have an alternative to FEMA’s National Flood Insurance Program (NFIP). With NFIP’s rating change, more and more homeowners are seeking private flood options.

Coverage	National Flood Insurance Program	ShoreOne
Flood Definition	Two Acres of Inundation Required	No Two Acre Requirement
Dwelling Limit	$250,000 Maximum	Same as Homeowners (Up to $2,000,000)
Other Structures	Detached Garage (Only) Up to $25,000	Optional: $0 to $1,000,000 Available
Contents Limit	$100,000 Maximum	Same as Homeowners (Up to $1,500,000)
Loss of Use	None	Same as Homeowners (Up to $600,000)
Dwelling Loss Settlement	Replacements Cost Actual Cash Value if Secondary Home	Replacement Cost
Contents Loss Assessment	Actual Cash Value	Replacement Cost Available
Deductibles	Separate deductibles for Dwelling and Contents	One Homeowners Deductible
Waiting Period	30 days	None
Adjuster	Different Adjusters for Homeowners and Flood	One Adjuster for Homeowners and Flood
Elevation Certificate	Often Required	Not Required

Bill Fuge, Partner at Kinghorn Insurance Agency of Bluffton, expressed his agency’s appreciation for an admitted homeowners product with an exceptional flood endorsement entering the South Carolina marketplace at a time when we need it the most.” Adding “We are very grateful for the partnership.”

Floods continue to be the #1 natural disaster in the United States and, according to FEMA, 99% of U.S. counties have now been impacted by a significant flooding event in the past 25 years.

“Basic flood policies can fall significantly short of fully protecting homeowners. Our partner agencies are doing excellent work in illustrating how important it is to protect the full value of their clients’ property, and we’re proud to be a leader with our admitted homeowners policy in South Carolina”, said Ben Hoover, Chief Marketing 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.

www.shoreoneinsurance.com