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SageSure Launches DP3 Coverage

The DP3 surplus lines product can cover a wide range of dwelling types, including primary residences, secondary homes, rental properties and seasonal homes.
Sponsored by

PRODUCT: SageSure Expanded Markets Dwelling Fire (DP3) surplus lines product.

COMPANIES: SageSure, Vave.

BEST RATING: Vave Digital Services Limited is an MGA of Canopius Group, rated A.

AVAILABILITY: Available to producers enrolled with SageSure.

FOCUS: According to the latest U.S. Census figures, around one-third of housing units are renter-occupied. With even higher concentrations in coastal areas, this represents a significant market for secondary, tenanted and seasonal home coverage.

SageSure has seen dwelling fire products become one of the most requested surplus lines coverages by producers in these markets. As a result, the SageSure Expanded Markets Dwelling Fire (DP3) surplus lines product was developed to meet the increased demand for fire dwelling products in coastal states, including for primary, secondary, tenanted and seasonal homes in Louisiana, New Jersey, South Carolina and Texas.

With the addition of the DP3 dwelling fire product to the SageSure Expanded Markets Program, producers can easily quote and bind previously untapped rental and nonowner-occupied risks.

COVERAGE DETAILS: SageSure specializes in providing competitive, reliable coverage in catastrophe-exposed markets. The DP3 surplus lines product can cover a wide range of dwelling types, including primary residences, secondary homes, rental properties and seasonal homes.

It can also accommodate a broad range of risks, including homes with older roofs, dwellings on up to 10 acres of land and ISO protection classes 1-8. SageSure offers increased personal liability coverage limits and loss assessment coverage.

UNDERWRITING: Underwriting for the DP3 product evaluates the dwelling's age, condition, construction type, occupancy type, location, claims history and more. Producers with access to SageSure's agent portal can quote and bind policies directly in the portal.

TARGET: The product is a fit for single or multi-family property owners in Louisiana, New Jersey, South Carolina and Texas. It is meant for owners and landlords of various types of residences, including primary residences; secondary homes, such as vacation homes; tenanted properties; and homes occupied seasonally or for a small part of the year. 

COVERAGE AVAILABILITY: Louisiana, New Jersey, South Carolina and Texas.

CONTACT: SageSure.

Will Jones is IA editor-in-chief.

17903
Monday, September 23, 2024
Commercial Lines