Safety First Insurance coverage has teamed up with Embark MGA to supply the HO5 owners insurance coverage programme in Florida for brand new residence 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 residence purchases by leveraging Embark’s proprietary expertise and backed by customized options.
The programme integrates insurance coverage quotes straight into the home-buying and mortgage qualification course of.
Builders’ residence stock, neighborhood particulars, and mannequin information are preloaded into the system, which permits for correct, bindable quotes with out the necessity for prolonged purposes.
This strategy is designed to scale back closing delays and take away a lot of the friction usually encountered throughout 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 offers broad safety with fewer exclusions than commonplace 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 stay up for supporting the distinctive wants of latest residence 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 acknowledged: “This partnership with Embark permits Safety First to increase our attain into a brand new phase of Florida owners. We delight ourselves on revolutionary product design and distinctive service and promise to be there for our prospects after they want us probably the most.”
