Recent catastrophic losses around the country, as result of Hurricanes Harvey, Irma and Maria, coupled with the threat of severe weather continuing to impact coastal communities, further underscore the need for insurance agents to offer alternatives to their coastal clients. Over the years, on the heels of a cat loss, policyholders, many with high property values, face overwhelming financial burden in their deductible layers. Higher premiums and high deductibles for wind or flood damage have increased their financial burden when a loss occurs.
Wilmington Insurance Agency specializes in working with agents to provide property solutions to coastal residents. One of our solutions includes offering insureds deductible buyback insurance (DBB) to help them reduce their financial risk in the event of a loss by lowering their wind or flood deductible with a separate policy.