The Guarantee launches water endorsements
Brokers also gain access to Opta’s quoting tool in order to calculate premiums for the new product
Guarantee Gold H2O+ and Guarantee Superior H2O+ are currently available for new business and will be available for the renewal of policies on May 23.
“This comprehensive, read-in coverage sits on top of existing sewer back-up coverage in every residential policy and is designed to offer complete water protection for all policyholders by extending coverage to overland or fresh water flooding, damage caused by ground and surface water and waterborne ice,” states The Guarantee’s announcement.
As the coverage is being read-in to existing policies with sewer back-up, customers will be covered under the new endorsement for the duration of their policy’s current term with no extra effort or expense on their part, according to the announcement.
The release of the new endorsements also comes with the launch of a partnership between The Guarantee and Opta Intelligence Services that will allow brokers to calculate the premium for H2O+ instantly through Opta’s iClarify quoting tool. However, brokers can still refer to The Guarantee’s underwriting teams for quotes, the announcement notes.