Melbourne, Florida, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Orion180, a leader in innovative insurance solutions, is redefining flood insurance with the launch of its new Residential Private Flood Insurance product. The Private Flood product provides comprehensive and customizable coverage for homeowners in all flood zones. Designed to address the evolving needs of agents and policyholders, this product combines competitive rates with a full menu of policy options and can be endorsed into Orion180’s surplus lines homeowner product.
Besides being accepted by all mortgage lenders, the Orion180 Residential Private Flood Insurance product offers multiple advantages over the National Flood Insurance Program (NFIP) managed by FEMA. The Orion180 program allows single-family home building coverage up to $1 million with just a 10-day waiting period or less if needed for closings or mortgagee requirements. This compares to NFIP coverage of only $250,000 with a 30-day waiting period.
Providing complete home and contents coverage, the Orion180 Flood Insurance Program allows policyholders to have the flexibility to design and select the protection they need. This includes loss of use coverage — which is not available through NFIP — as well as coverage for replacement cost (both home and contents), loss avoidance, as well as debris removal. Protection can also be extended to include water backup and sump overflow, as well as swimming pool cleanup and repair. Orion180 Flood Insurance policies are designed to safeguard the structure, foundation, major systems, furniture, appliances, and valuables, including collectibles and electronics, up to specified limits.
Homeowners can purchase Orion180 Flood Insurance as a standalone private flood policy or as an add-on to their existing Orion180 surplus lines home insurance. Policies can be purchased with no elevation certificate required, and in most cases, no inspections are needed for separate flood insurance policies not associated with a home insurance policy. Orion180 leverages advanced technology to assess and validate various risk characteristics to ensure accuracy and fair pricing.
The Orion180 Flood Insurance Program is now available in ten states: Alabama, Arizona, Colorado, Georgia, Illinois, Mississippi, North Carolina, Ohio, South Carolina, and Tennessee, with more states coming in 2025.
For more information, visit Orion180.com/flood
About Orion180:
Orion180 is a people-focused, technology-driven insurance brand that offers proprietary technology, real-time data, and straightforward underwriting practices, enabling independent insurance agents to provide their customers with a premier insurance experience.
Orion180’s operating companies are:
- Orion180 Insurance Co., a surplus lines (non-admitted) insurance company domiciled in Indiana and doing business in Alabama, Georgia, Mississippi, North Carolina, and South Carolina.
- Orion180 Select Insurance Co., an admitted insurance company domiciled in Indiana that is approved to provide coverage in Alabama, Arizona, Georgia, Indiana, Mississippi, North Carolina, and Ohio.
Orion180 has developed its own proprietary mobile application and technology platform, MY180, while also supporting third-party data integrations with insurance industry partners. Orion180’s vision is to be the global premier provider of insurance solutions. Our mission is to deliver an exceptional insurance experience through innovative technology, unparalleled customer service, and a comprehensive suite of product solutions.
Info – www.Orion180.com
