Hilton Head Island, SC, August 28, 2014 --(PR.com
)-- The coastal insurance marketplace for consumers just improved in South Carolina. Beacon Insurance Group recently finalized contracting with three additional homeowners insurance carriers who will be offering choices for South Carolina homeowners.
The new homeowners insurance companies are all rated A or better by either A.M. Best or Demotech rating agencies. The insurance and financial marketplace, along with decreasing reinsurance costs have allowed companies to expand into coastal homeowners insurance writings in South Carolina areas such as Hilton Head Island, Charleston, and Myrtle Beach. This most recent influx in companies and capacity should put pressure for more competitive rates. Homeowners will still find that newer, better constructed homes and higher credit scores will obtain them the best possible rates.
Not every coastal homeowners insurance carrier targets the same types of homes or distance from coastal waters. A thorough review of each homeowner’s situation needs to performed and evaluated. When choosing a carrier, a homeowner should consider the claim paying ability of the insurance carrier. Not all insurance carriers have the manpower or capacity to offer swift claims responses in a catastrophic situation. During testimony before a Senate hearing on Superstorm Sandy, it was claimed the lack of available catastrophic adjusters was an issue in delaying the payment of claims.
Most of the newer companies just began writing business in August 2014. “We have been comparing rates on the new companies with existing companies we represent and we are quite pleased with the competitive options they provide our clients and prospects,” stated Ken Groff, partner at Beacon Insurance Group.
About Beacon Insurance Group:
Beacon Insurance Group is an independent insurance broker located in Bluffton, South Carolina. Beacon is a compilation of experienced insurance professionals who develop innovative solutions for South Carolina Insurance and risk management needs. The South Carolina agency utilizes both innovative and alternative risk methods in strategic planning for their clients. Beacon Insurance Group works hard to understand needs and problems which assist them in providing solutions that are designed specifically for their clients. Beacon’s forward looking approach helps protect their clients from seen and unseen risk factors. Beacon Insurance Group - the right people can make a difference in your insurance program.