Arkansas-based surplus lines broker Argenia has created a new Florida program designed to cover the reduction of coverage under Citizens Property Insurance Corp. homeowners policies.
The program provides high enough liability limits to write an excess/umbrella policy with minimum premiums as low as $144. Excess limits are available up to $1 million for as low as $569.
The policy will be written on nonadmitted Lloyd’s of London paper.
Coverage is broken down into two sections. Section 1 is the property coverage and starts at $147.
Coverage A under this section includes attached structures, including any structure enclosed by screens on more than one side. Coverage B include adjacent structures, including structures that have roofs or exterior wall coverings made of thatch, lattice slats or similar material. However, adjacent structures used for commercial, manufacturing, farming or that are rented and occupied by a tenant other than the tenant of the dwelling are excluded.
The coverage excludes wind, hail, mold and sinkhole.
Section 2 covers excess personal liability over the normal Citizens limit of $100,000. It is available in increments of $200,000, $400,000 and $900,000. The minimum premiums begin at $144.
Producers interested in quoting this program can fill out a form via the website and send it to Argenia.