Coastal Homeowners Program from BUA
BUA's Coastal Homeowners program is designed to help insurance agents and brokers place hard-to-insure residential risks located in coastal areas. As a Managing General Agency (MGA), BUA offers a competitive and flexible surplus lines solution for properties that fall outside the appetite of standard admitted carriers due to their coastal exposure.
This program provides broad coverage options with underwriting flexibility for both primary and secondary homes across select Northeastern states. If your client is currently in a surplus lines market or being non-renewed due to location, BUA can provide an alternative with strong coverage and responsive service.
Ideal Accounts and Appetite
This program is well-suited for agents working with homeowners in coastal regions who might be struggling to find adequate coverage in the standard market. Ideal properties include:
- Primary or secondary homes near the coast
- Dwellings insured on HO3 or DP3 forms
- Homes owned by individuals, trusts, or corporations
- Properties that are well-maintained, even if over 30 years old (with updated major systems)
You might have a client with a vacation home in Cape Cod or a primary residence in Long Island who has been declined coverage due to wind exposure. These are exactly the types of risks that may qualify under BUA’s program.
Coverage Highlights and Advantages
- Offers broad HO3 and DP3 coverage forms
- Replacement Cost coverage (not Actual Cash Value)
- Competitive pricing with a minimum premium of $850
- Secondary homes and non-individual ownership structures are acceptable
Underwriting Notes and Minimum Premiums
Homes over 30 years old must have major system updates (e.g., electrical, plumbing, heating, and roofing) to be considered. The minimum premium for this program starts at $850, making it a competitive option in the surplus lines space.
Territories and Availability
The Coastal Homeowners program is available in:
- Connecticut
- Maine
- Massachusetts
- New Hampshire
- New York
- Rhode Island
These coastal states often present challenges for standard carriers, and BUA’s offering helps fill that market gap.
Why Work With BUA
BUA brings extensive experience in managing specialty personal lines programs, particularly for hard-to-place and coastal-exposed risks. As an MGA with access to multiple surplus lines markets, BUA offers responsive underwriting, competitive pricing, and a streamlined submission process to help you place difficult homeowners accounts confidently and efficiently.