Every property is different, and we believe that insurance policies should reflect the distinct qualities of each property and each homeowner’s unique situation. At Coastal American Insurance, we provide a variety of insurance policies and options for homeowners.
Home insurance policies come in several standard types, called “forms,” which vary in the degree of dwelling and the personal property coverage they provide. Choosing the right form is important to ensuring your home is adequately covered.
Special Homeowners Policy (HO-3)
For homeowners, we offer a Special Homeowners Policy (form HO-3), which covers all perils except those specifically excluded by the policy.
For more detailed information and a personal consultation, please contact an agent that represents Coastal American Insurance Company.
Our standard Homeowner’s policy, which includes the peril of wind, also includes the coordination of benefits, which requires the insured to have matching flood insurance in special flood hazard areas. This product has flexible deductible and coverage options which can be tailor made to match the customer’s needs. This coverage is written on a replacement cost basis.
HO3 – Wind Excluded
We offer this option with the same flexible structure as the HO3, but do not require flood insurance as we do not have the coordination of benefits.
This policy only covers the peril of wind and only insures the structure and contents. The coordination of benefits is part of the policy; therefore, the flood requirements are the same as the HO3 product. This can be written on a primary residence, seasonal residence, and tenant-occupied homes. The flood endorsement can be added to the wind only policy, but is not required.
This allows you to endorse your standard HO3 policy with the coverage of flood. As a result, you have one policy with one deductible to cover you for all perils. This endorsement can be added to any new or existing HO3 policies or wind only product.
Like our homeowners policies, we can help you tailor flood insurance coverage to your home, your location and your unique needs.
Additional Coverage & Endorsements
With your policy in place, you may want to supplement your policy with special coverage or endorsements to account for specific risks in your area, features of your home, or scheduled floaters to cover possessions like jewelry, fine arts and collectibles.
Additionally you might consider:
• Replacement Cost Coverage on Your Contents
• Scheduled Personal Property
• Loss Assessment
Homeowners with a high net worth or a large number of valuable assets may want to consider increased Personal Liability Coverage to insure against the risk of being sued for damages, injury or other legal liabilities.
Please contact your independent agent for available endorsements on your policy.
For new homes and homes equipped with any of the following preventative features, you may be eligible for discounts or credits on your premiums:
• Central Station Burglar Alarm System
• Fire Sprinklers
• Fire-Resistive or Wind-Resistive Construction
• Windstorm Loss Mitigation
These factors translate to the value of your policy—what coverage and assurances you get for your money. And that’s the most important factor by far.
Please contact us and let Coastal American Insurance create the policy that’s right for you.