Heartland Marketing Group Inc. recently introduced a new market for lower valued homes, including mobile/manufactured home, travel trailer and stand-alone dwelling fire risks.
Offered through Aegis Security Insurance Company, the program is available to HMG’s Texas agents, but the company plans expand it to HMG’s other operating states in 2006.
Pennsylvania-based Aegis Security Insurance Company offers coverage for manufactured homes, motorcycles, travel trailers, select-value dwellings and other specialty insurance products. Aegis Security has an “A” Excellent A.M. Best rating and has been providing insurance products since 1977.
According to HMG President Barney Schwartz, the new program fills a need in the homeowners market. He said HMG is one of the largest writers of standard personal lines in Texas with markets for high-value homes and mid-value homes, but until recently did not have options for lower value residences.
“We have the whole gamut covered from extremely high-value homes–with Chubb, AIG, Fireman’s Fund–to the everyday home, which would be Hartford, Safeco, America First. But we had a gap in lower value homes. So it really was a logical niche for us to fill in.”
Schwartz said the Aegis Security program targets home values under $150,000 and includes manufactured homes and those outside city limits. There are no volume requirements for the program.
“It isn’t a market that’s targeted by all agents–not all of our agents will utilize the product,” Schwartz said, adding that agents who write a lot of lower value homes would certainly be interested.
While the program is just getting off the ground, Schwartz said he thinks it “will pretty quickly become a $2.5 to $3 million program.”
Based in Dallas, the Heartland Marketing Group currently operates in Arkansas, Colorado, Kansas, Louisiana, Missouri, New Mexico, Ohio, Oklahoma and Texas.
The company was formed in 1994 to provide rural agencies with access to a wide variety of quality standard markets. It later expanded its focus to include smaller agents in large cities, and now appoints agents of all sizes. In 2001, HMG added access to surplus markets to its mix of products and services.
In October 2005, HMG announced it had added United National as its newest carrier for Main Street surplus commercial lines insurance. Coverages provided include general liability, property and umbrella for motels/hotels, restaurants and bars, convenience stores/gas stations, apartments and lessor’s risks, among others.
For more information about the new lower value homeowners product, contact Ken Davidson via e-mail at kdavidson@hmg.com or phone, (214) 432-1241.
Topics Texas Agencies Homeowners
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