The wind peril is now the carrier’s largest exposure and the reason why we are continually seeing wind deductibles steadily increase. The carriers want to limit how much they will pay out and to do this they increase deductibles. The deductibles represent the insured’s out-of-pocket exposure at time of a loss and can be overwhelming to the insured.
The solution is in WDBB (Wind Deductible Buyback) policies.
Our WDBB policies reduce the insureds wind (named wind, wind/hail or all other wind) deductible to a lower amount thus help offsetting the burden of risk insured has to assume. Our product is backed by A.M. Best A rated carriers providing our clients the highest level of confidence and security.
WDBB coverage uses a follow form policy and works in collaboration with the overlying or primary insurance policy. We can offer options to “buy down” the wind deductible to a lower percentage or flat dollar amount as low as $5,000.
Example:
$10M property with a 5% percent wind deductible equals $500,000 out of pocket exposure for the insured regardless of the size of wind loss. The insured can reduce their wind deductible to a 1% percent ($100k) wind deductible, they would purchase WDBD policy with a $400,000 limit excess of a $100,000 deductible.
WHO WE ARE
We are property insurance professionals who have over 20 years of experience offering various Wind Deductible Buy-Back coverages with the passion to help insureds.
Over the last 10 years, we have become one of the nation’s largest distributors for this specialty product. With several unique programs available, we offer a tailored program that best fits the insured’s preferred deductible exposure at the most competitive pricing available.
We are the experts and will carefully guide insurance agents in their WDBB placements to ensure their clients are well protected if a loss were to arise. We carefully look at the overlying policy to ensure that WDBB policies are correctly written without any gap in coverage. The overlying policy could have many nuances that cannot be overlooked – is the wind deductible per building, location, TIV? Does the BI deductible follow the wind deductible or is it a separate waiting period? Does the per occurrence come into factor? We have skillset to guide you through the process and provide the best available solutions.
PRODUCT OVERVIEW
A.M. Best A Rated Carriers
Competitive Commissions
24-Hour Turnaround Time
Eligible Classes
All Commercial Properties (ie Apartments / Office Buildings / Real Estate / Hotels / Warehouses / Shopping Centers / etc
Builders Risk / Course of Construction (COC)
Min Premium
In-House
Buydown Limit
States Covered
Get A Quote Today
This product is available in all states, except NJ and in most cases can turnaround indications in less than 24 hrs. To get a quote today, please attach Acord 125/140 (or excel SOV if more than 4 bldgs) and overlying quote or policy. In the message field let us know what you are looking to buydown the deductible to and provide any loss details.