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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- George Flaggs regrets repayment flaw in lending law
- TECH 21 — Mississippi's most wanted in technology
- Mississippi judge dismisses lawsuit seeking to overturn Sen. Cochran's GOP primary win
- Chefs John Folse and Rick Tramonto are dotting every ‘i’ and crossing every ‘t’ in the development of Seafood R’evolution, which is set to open in November
- Bryant issues executive order to establish Delta water task force
- PEDIGREE dog food recalled; might contain metal fragments