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 claimed to handle the difficulty of insurance coverage being a serious barrier to dwelling purchases by leveraging Embark’s proprietary expertise and backed by customized options.
The programme integrates insurance coverage quotes immediately into the home-buying and mortgage qualification course of.
Builders’ dwelling stock, group 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 scale back closing delays and take away a lot of the friction sometimes encountered in the course of 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 embody open-perils protection, which supplies broad safety with fewer exclusions than normal owners’ insurance coverage insurance policies.
Embark Distribution EVP Brian Crumbaker mentioned: “We’re thrilled to accomplice with Safety First Insurance coverage, an organization that shares our dedication to innovation and delivering distinctive, customer-centric service.
“We look ahead to supporting the distinctive wants of latest dwelling builders and their purchasers. 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 said: “This partnership with Embark permits Safety First to develop our attain into a brand new phase of Florida owners. We pleasure ourselves on revolutionary product design and distinctive service and promise to be there for our prospects once they want us probably the most.”
