Distinguished Programs expands coastal builders risk coverage | Insurance Business America
Distinguished Programs, a national insurance program manager, has announced the expansion of its Coastal Builder’s RIsk coverage to five additional states – Alabama, Hawaii, Mississippi, Rhode Island, and commercial properties only in Texas.
The program covers all risks for brand-new construction, remodeler’s risk and betterments only projects in select states. In addition to the new states, the program is available in Delaware, Maryland, Georgia, New Jersey, Virginia, North Carolina, and South Carolina.
“When we launched the Coastal Builder’s Risk program last year, the broker response was incredible,” said Katie Vespia, managing vice president of the Builder’s Risk program at Distinguished. “Available coverage in the market is shrinking, and brokers need options for these harder-to-insure properties. We are thrilled to introduce our comprehensive Coastal Builder’s Risk program to brokers in these new states.”
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The program offers flexible initial policy terms (up to 24 months) with extensions available. Beachfront and barrier island properties are acceptable. Additional coverages include named storm deductible, wind coverage, theft and vandalism, debris removal and more.