Cabrillo Coastal Launches Flood Coverage for Dwelling Fire Policies in Florida

Cabrillo Coastal General Insurance Agency launched a flood endorsement for new or existing dwelling fire policies for its admitted program in Florida.

The coverage follows Cabrillo Coastal’s launch of a flood endorsement for new or existing homeowners policies for their admitted programs in Florida last summer.Cabrillo’s flood product was built using a different rating structure than the National Flood Insurance Program (NFIP).

According to Cabrillo Coastal, its flood policy is broader than the NFIP’s coverage and comes with additional features and fewer restrictions common in most private flood insurance offerings.

Key benefits include dwelling coverage up to the full value of policy limits, losses using only a single deductible, replacement cost loss settlement, no wait period, no surcharge for rental properties and binding in Coastal Barrier Resource areas. All losses are reinsured, with carriers having an A.M. Best Financial Strength Rating (FSR) of A or better.

Selling property insurance since 2006, Cabrillo Coastal offers homeowners, mobile homeowners, condominium, dwelling fire, and mobile home dwelling products. Flood coverage is currently available by endorsement on homeowners policies.