In this episode, we discuss:

• The growing trend of property owners turning to non-standard insurance due to traditional carriers pulling out of high-risk areas
• Why standard homeowners insurance is becoming unavailable in markets affected by:
  • Wildfires (California)
  • Hurricanes (Florida)
  • Hail and tornadoes (Midwest)
• The reality that some homeowners are going bare (without insurance) if they don't have a mortgage
• The problem of being underinsured for those who still carry some coverage

Understanding ENS (Excess and Surplus Lines Insurance):

• ENS insurance covers properties that admitted carriers won’t insure
• Issued by carriers not technically admitted in the state, but filling important gaps
• Most insurance brokers can help you access ENS policies
• Types of ENS include:
  • Severe weather policies
  • Over-and-above policies
  • Parametric insurance

What is Parametric Insurance?

• Event-based trigger insurance
• Pays a flat amount regardless of damage scope
• Not traditionally primary coverage but can be used as such if:
  • You own the house outright
  • You’re willing to take the risk on catastrophic loss
• Available for both residential and commercial properties

Need personalized help?

• Visit actualhum.com for live one-on-one consultations
• Speak with licensed experts in:
  • Insurance
  • Surety bonds
  • Civil court mediation
  • Real estate research
  • Mortgage lending
  • Business development
  • Marketing & advertising

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