Safety First Insurance coverage has teamed up with Embark MGA to provide the HO5 owners insurance coverage programme in Florida for brand new dwelling builders.
The HO5 programme goals to simplify the method of acquiring insurance coverage for brand new owners by embedding it into the home-buying journey.
This initiative is alleged to handle the difficulty of insurance coverage being a significant barrier to dwelling purchases by leveraging Embark’s proprietary know-how and backed by customized options.
The programme integrates insurance coverage quotes straight into the home-buying and mortgage qualification course of.
Builders’ dwelling stock, neighborhood particulars, and mannequin information are preloaded into the system, which permits for correct, bindable quotes with out the necessity for prolonged functions.
This strategy is designed to cut back closing delays and take away a lot of the friction sometimes encountered through the home-buying journey.
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It electronically shares insurance coverage data with builders’ mortgage and title companions, additional streamlining the method.
The options of the coverage embrace open-perils protection, which offers broad safety with fewer exclusions than normal owners’ insurance coverage insurance policies.
Embark Distribution EVP Brian Crumbaker stated: “We’re thrilled to associate with Safety First Insurance coverage, an organization that shares our dedication to innovation and delivering distinctive, customer-centric service.
“We sit up for supporting the distinctive wants of latest dwelling builders and their shoppers. This new embedded product stands out with its aggressive pricing and broad protection choices, providing a superior resolution within the Florida market.”
Safety First product and underwriting SVP Bob Ketchum acknowledged: “This partnership with Embark permits Safety First to develop our attain into a brand new section of Florida owners. We pleasure ourselves on progressive product design and distinctive service and promise to be there for our clients once they want us essentially the most.”
