While natural disasters are unpredictable, Safehold Special Risk offers a structured solution to help your clients safeguard their property and financial stability. The Natural Disaster Protection Program is designed for residential and commercial property owners seeking risk management for catastrophic events such as floods, earthquakes, and landslides. With expert underwriting, flexible coverage options, and a broad state footprint, this program enables agents and brokers to offer proactive solutions that help clients reduce losses and recover faster after a disaster.
Ideal Accounts and Appetite
This program is well-suited for:
- Residential property owners looking to protect dwellings, personal property, and additional living expenses.
- Commercial property owners seeking coverage for buildings, contents, and loss of income due to catastrophic events.
- Clients located in areas exposed to natural disasters but outside of high-risk exclusion zones.
Example: You may have a commercial client operating a warehouse in the Midwest who is concerned about flooding near the Mississippi River. This program may offer a suitable solution—provided the insured is outside the restricted proximity zones.
Coverage Highlights and Advantages
Safehold’s Natural Disaster Program offers tailored protection for a range of perils. Key coverage features include:
Residential Property
• Dwelling
• Other structures
• Personal property
• Additional living expenses
• Debris removal
Commercial Property
• Building
• Contents
• Loss of income/extra expense
• Debris removal
Maximum Limits
• $10,000,000 general maximum
• $2,500,000 for California Earthquake
• $1,000,000 for Coastal Flood
Underwriting Notes and Minimum Premiums
This is a non-admitted program available through Safehold Special Risk, a program administrator experienced in evaluating and placing catastrophic risk exposures. Minimum premiums are:
- $350 for residential risks
- $500 for commercial accounts
Waiting periods apply: 15 days for flood and landslide coverage, and 5 days for earthquake coverage.
Exclusions and Restrictions
Agents should be aware of underwriting restrictions based on location, structure, and value. Examples include:
- Coverage not available in certain counties in CA, FL, HI, LA, and others
- Flood risks too close to major rivers or saltwater bodies
- Buildings built before 1950 (earthquake coverage only)
- Structures with non-standard materials or extremely high TIVs
Full underwriting guidelines are available upon request.
Territories and Availability
The program is available in most states, including AL, AZ, CA, FL, GA, NY, TX, and many others. However, specific restrictions apply based on geographic risk and proximity to high-hazard zones.
Why Work With Safehold Special Risk
Safehold brings specialized expertise in catastrophe-exposed markets and offers agents a responsive underwriting team that understands complex risk profiles. Their ability to tailor policies based on unique exposures makes them a valuable partner for placing hard-to-insure risks.
Whether your clients are homeowners in wildfire-prone areas or commercial operators near coastal flood zones, Safehold’s Natural Disaster Protection Program offers a flexible and knowledgeable market for your placement needs.