Natural Disasters
Offered by Innovation Growth Partners Specialty, LLC (IGP Specialty)
Earthquake Dwelling Personal Property Landslide Natural Disaster Debris Removal TransportDescription
Protection for Earthquakes, Landslides and Other Natural Disasters
Earthquakes and landslides can create a devastating burden on businesses, often shutting down operations. The Insurance Information Institute reports that approximately 40% of companies do not reopen after a catastrophe or disaster.
While natural disasters may be unpredictable, the IGP Specialty Natural Disaster Program helps clients establish solid preparedness plans to proactively protect individuals and businesses before a catastrophe occurs. According to the Federal Emergency Management Agency (FEMA), prepared businesses reduce losses by resuming operations more quickly and restoring normalcy to their communities.
Coverages
Residential property
- Dwelling
- Other structures
- Personal property
- Additional living expenses
- Debris removal
Commercial property
- Building
- Contents
- Loss of income/extra expense
- Debris removal
Maximum limits
$10,000,000, except:
- California Earthquake: $2,500,000
- Coastal Flood: $1,000,000
Minimum premiums
- Residential: $350
- Commercial: $500
Requirements and Exclusions
The information below is a general summary of common requirements and exclusions and is for reference only. Additional requirements and exclusions may apply.
Waiting periods
- Landslide and flood coverage is effective on the fifteenth day after the inception date of the policy.
- Earthquake coverage if effective on the fifth day after the inception date of the policy.
Exclusions
By location
- California: Earthquake limitations; coverage not available in Santa Barbara County or Sacramento County
- Florida: Flood limitations; coverage not available in Monroe County
- Hawaii: Coverage not available in Hilo
- Louisiana: Coverage not available
- Texas: Flood limitations
By geographic proximity
- Flood risks within five miles of the Mississippi or Missouri Rivers
- Flood risks within one mile of the Hudson, Delaware, Ohio, or Susquehanna Rivers
- Flood risks located more than three feet below the base flood elevation
- Coastal flood risks exceeding $2.5MM in total insurable value (TIV):
• All of Florida and Louisiana
• First tier Texas to North Carolina (AL, FL, GA, LA, MS, NC, SC, TX)
• Flood risks within two miles of saltwater in Massachusetts and Virginia - Earthquake in zones A or B of the California Catastrophic Risk Evaluation and Standardizing Target Accumulations (CRESTA)
- Flood in Coastal Barrier Resource Act (CBRA) zones
By structure
- Buildings built pre-1950 (earthquakes only)
- Buildings constructed of adobe clay, non-reinforced masonry, tile, or logs
- Duplexes or condos, unless building is fully owned or coverage is contents only
By value
- Loss of income exceeding $1MM with respect to flood only coverage
- TIV exceeding $25MM
Offered By
Innovation Growth Partners Specialty, LLC (IGP Specialty)
28 listings in 50 states + DC
View CompanyAvailability 49 states
Covered
Not Covered
