Safeco to offer wind coverage to homeowners
MISSISSIPPI GULF COAST — State Insurance Commissioner Mike Chaney says Safeco Insurance plans to offer homeowners insurance, including wind coverage, in south Mississippi.
Chaney says the company will offer 500 to 1,000 homeowner policies wind coverage beginning in mid-March.
Some companies have restricted wind coverage, stopped offering it altogether to new customers and/or nonrenewed policyholders who live near shore.
Chaney believes Safeco also will offer discounts in the near future to policyholders who strengthen their homes to minimize hurricane damage.
Chaney says one other large insurer, Republic Insurance Group, is writing new homeowner policies with wind coverage on the coast, as are some smaller companies.
Since Hurricane Katrina, many policyholders have been forced into the state-run wind pool. The wind pool maintains rates higher than the private market.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Deal for Jackson-Orlando flights in works with Allegiant
- Baseball stadium for Farish Street? It’s possible
- State GOP chairman calls on McDaniel to hurry with challenge
- Explosion at Coast fish plant leaves one dead, three injured
- McCarthy hired as CFO of Mississippi Development Authority
- Former Gov. Musgrove pushing lawsuit to school districts
- Guns OK inside Mississippi polling places, attorney general says
- Former state lawmaker Green dies at home at age 62
- White House hotel making comeback in Biloxi
- 'Get on Up' movie premiers in Madison with Chadwick Boseman and Tate Taylor walking the red carpet