ORLANDO, Fla., Dec. 19, 2024 — Security First Insurance and Embark MGA have teamed up to introduce an updated HO5 homeowners’ insurance plan specifically for new home builders in Florida. This affordable, comprehensive insurance option simplifies the home-buying process for consumers by integrating insurance coverage directly into the transaction.
This collaboration addresses a critical need in the Florida housing market. Recent data indicates that insurance is a significant hurdle for potential homebuyers in the state. This new program offers enhanced protection for new home buyers, leveraging Embark’s expertise in customized insurance solutions and advanced technology.
The new HO5 policy offers more extensive coverage than standard HO3 policies, alongside streamlined claims procedures. Unlike typical builder-channel policies, these HO5 options provide “open-perils” coverage for both the home and personal possessions, and include protection for incidents frequently excluded from standard policies, giving buyers greater peace of mind.
“This partnership with Embark expands Security First’s reach within the Florida homeowner market,” said Bob Ketchum, SVP of Product and Underwriting. Ketchum added, “Our focus is on innovative products and superior service, ensuring we support our customers when they need it most.”
Embark’s focus on modern, technology-driven insurance solutions for specialized markets complements Security First’s in-depth understanding of the Florida market. Embark’s proprietary technology seamlessly integrates insurance quotes into the home-buying and mortgage approval process. The system pre-populates builders’ home details, community information, and model data, allowing for the generation of accurate, instantly-available quotes without extensive applications. This efficient method electronically transmits insurance data to builders’ mortgage and title partners, minimizing closing delays and reducing the typical friction associated with purchasing a home.
Key Features of the Security First New Home Builder HO5 Policy:
- Open-Perils Coverage: Provides extensive protection with fewer exclusions than typical homeowners’ insurance.
- Service Line and Equipment Breakdown Coverage: These beneficial extra coverages are included at no additional cost.
- Increased Personal Property Coverage: Higher coverage limits for personal belongings, including valuable items.
- Streamlined Claims Process: A simplified and user-friendly claims process for quicker resolution.
- Comprehensive Protection: Enhanced coverage for accidental damage and other risks not usually covered by HO3 policies.
“We’re excited to partner with Security First Insurance, a company that shares our commitment to innovation and exceptional customer service,” said Brian Crumbaker, EVP Distribution at Embark. “We aim to support the specific needs of new home builders and their clients. This embedded product stands out due to its competitive pricing and extensive coverage, providing a superior solution in Florida.”
Media Contacts:
Embark MGA
Marc T. Murphy Jr.
Director of Agency Operations and Marketing
470-723-4241
Security First Insurance
Wendy Maddalone
Director of Marketing and Communications
386-243-4707
About Embark MGA:
Embark is a technology-focused insurance provider dedicated to offering innovative and user-friendly insurance solutions. Its modern platform and product offerings simplify the insurance process, providing comprehensive protection to meet today’s consumer demands.
About Security First Insurance:
Security First Insurance is a leading provider of homeowners insurance in Florida, committed to providing reliable, customized coverage for Florida families. With extensive experience in the unique challenges faced by Florida residents, Security First provides superior service and protection.
About Our New Home Builder Program:
Our New Home Builder Program offers new home builders, their distribution partners, and clients direct access to insurance products designed for new homes. Exclusive to our partners, this program streamlines underwriting by only using home-specific data to issue policies generally offering more flexibility than standard homeowner’s policies.
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SOURCE Embark General
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