High Risk Property Insurance – Personal & Commercial

Having trouble insuring high risk personal homes or commercial property? Trying to insure distressed property? Get help here.

From high risk coastal areas to policies that have lapsed for whatever reason.  Or has your property had several claims and now you’re being refused coverage from the big brand name insurance companies?

It is possible that we may be able to find you high risk property insurance coverage in the Speciality Markets.

Insurance for high risk personal or commercial PROPERTY in the states of New Jersey, Delaware, Florida, Pennsylvania, Ohio, Alabama, Indiana, Maryland, Nebraska, North Carolina, Oregon, South Dakota, Texas, Virginia, Wisconsin, South Dakota and South Carolina. Call (856) 863-5654.

Get help from agents that understand and want to help you. Confidential Online Help for high risk insurance (856) 863-5654.

Confidential Online Help for high risk insurance (856) 863-5654.

If all else fails we will have to seek coverage for you through the FAIR Plans.

FAIR Plans

In the late 1960s and early 70s, Fair Access to Insurance Requirements (FAIR) Plans were formed mostly as partnerships by insurance companies, regulators and legislators in response to insurance availability problems in metropolitan areas following property losses of catastrophicproportions from riots and civil disorders.

Originally, FAIR Plans offered “bare bones” products that covered the risk of fire only, in order to satisfy mortgage lender insurance requirements. Today, however, roughly half of all FAIR Plans offer full homeowners coverage (i.e., coverage for vandalism and theft and other perils in addition to fire), while the others continue to provide fire-only policies. So as not to compete with the voluntary insurers (and thereby discouraging residual market growth), FAIR Plan rates typically are higher than those of private insurers.

Regardless of the specific structure, insurers doing business in a given state generally must participate in these programs, typically by assuming their fair share of the residual market’s operating results. When a deficit occurs, a variety of mechanisms are in place – on a state-by state basis – to cover the losses.

Participating private insurers are assessed to cover deficits. These assessments are either recouped through increased premiums in future years, or by direct policyholder surcharges that are outside of premium. 