Florida homeowners struggling to find affordable insurance may finally have some good news.
Two local companies, Security First Insurance and Embark MGA, have teamed up to create a new insurance program designed to make getting coverage easier and more affordable.
What’s the Plan?
The program, announced earlier this month, integrates insurance quotes directly into the homebuying process.
This means buyers can get insurance and sort out their mortgage at the same time.
The goal is to simplify things for homebuyers in Florida, where finding insurance has become a major challenge.
The new plan comes as Florida faces an insurance crisis. Premiums have skyrocketed because of frequent hurricanes, lawsuits, and fraud.
Many private insurance companies have left the state, leaving most people with only one option: the state-run Citizens Property Insurance.
Without proper insurance, it’s nearly impossible to get a mortgage and buy a home.
Why This Matters for Florida Homebuyers
This new program is especially important for builders in Florida, as homebuyers often say insurance is one of the hardest parts of buying a home.
The companies are offering an HO5 policy, which is the most comprehensive type of home insurance.
These policies cover the home, personal belongings, liability, medical costs, and more.
They also offer protection for things that are often excluded in standard plans.
The program is designed to speed things up, too. Thanks to preloaded data like home inventory and community details, buyers can get accurate quotes fast, without long applications.
The system even shares insurance info directly with builders’ mortgage and title companies to prevent closing delays.
What They’re Saying
Here’s what the companies had to say about the partnership:
- Bob Ketchum, Senior VP of Product at Security First:
“This partnership helps us reach more Florida homeowners. We’re committed to providing innovative products and being there for our customers when they need us most.” - Brian Crumbaker, Executive VP at Embark MGA:
“We’re excited to work with Security First to offer better options for builders and homebuyers. This product stands out with competitive prices and broad coverage, making it a game-changer for Florida.”
Florida’s Insurance Crisis: What’s Next?
This program offers a glimmer of hope for Floridians dealing with rising insurance costs and fewer coverage options.
It promises faster quotes, better protection, and smoother homebuying.
Let’s see if this new solution helps turn things around in the Sunshine State.