Helping Customers Plan for High Commercial Wind/Hail Deductibles
With catastrophic storm damage on the rise, many companies are increasing wind and hail deductibles, creating potential financial strain for your insured clients. This product offers a solution for single buildings — enabling you to reduce these deductibles to a flat amount as low as $2,500 for residential and $5,000 for commercial properties. Protect your clients from unexpected costs with this valuable coverage enhancement.
Concorde can write Windstorm/Hail Deductible Buy Back for primary policies with ANY carrier.
How It Works:
When a primary homeowners or commercial policy includes a 3% wind and hail deductible on a $1 million property, the result is a substantial $30,000 self-retention deductible. This program allows the insured to reduce this deductible to as little as $2,500 for residential or $5,000 for commercial risks. In the event of wind or hail damage, the primary carrier won’t cover losses until the $30,000 threshold is reached. Policies bridge this gap by covering losses beyond the self-retention level of $2,500 or $5,000, up to the primary policy’s $30,000 deductible.
Premiums:
- Minimum premiums for residential begin as low as $200 + policy fee + state surplus lines tax.
- Minimum premiums for commercial begin as low as $200 + policy fee + state surplus lines tax.
Quoting:
Single buildings can be quoted online at the link below. For multiple buildings and/or locations, please contact commdirectbill@cgains.com.
For additional details or questions, please reach out to:
Commercial Direct Bill Team
800.726.1611 ext. 8975
commdirectbill@cgains.com