Offers an additional Layer of Protection for the Insured

High insurance deductibles, often required in wind-prone areas, can add financial exposure to unprepared property owners and construction companies. Wind Deductible Buy Back Coverage provides an additional layer of protection in areas where requirements for insurance deductibles have significantly increased, along with satisfying new Lender requirements, that are requiring lower deductibles that current primary insurance carriers are not offering.

Wind Deductible Buy Back coverage on Builders Risk coverage can be written on both commercial and residential properties during construction. Typical policy terms are 12 months; for builder’s risk policies the maximum length of the policy is up to 18 months. Soft Costs will be excluded from coverage. Wind Deductible Buy Back Coverage can be written with or without an annual aggregate limit and can be written for wind in general or named windstorms only.

We are the Coverholder for Lloyd’s of London on our in-house program.

All Construction types, excluding exterior insulation finishing system (EIFS)

  • Fire-resistive
  • Modified fire-resistive
  • Non-combustible (ISO class 3)
  • Masonry non-combustible
  • Joisted masonry
  • Frame (restrictions apply)

Terms

  • Commercial property - 12 months
  • Builder's risk - commercial & residential policy terms; policy terms can be up to 36 months

Eligible territory

All states; primary focus for all Convective Storm exposed states; along with East Coast and Gulf Coastal states.

Retentions

  • TIV more than $2.5 million up to $5 million: minimum of $2,500
  • TIV more than $5 million up to $10 million: minimum of $5,000
  • TIV more than $10 million: minimum of $10,000

The above Retentions, along with East and Gulf Coast locations: could be higher depending on the construction of the exposed buildings and 5yr prior W&H loss history

Maximum limit

  • $1.5 million maximum limit per occurrence – in-house authority
  • Up to $5,000,000 per Occurrence; with referral and approval

Maximum insured value (TIV)

  • $100,000,000 any one location
  • Over $100,000,000 upon referral and approval

Requirements

  • Our 1pg Application, SOV’s are not needed on Single building risks with a completed application
  • Acord Applications - including current overlying W&H deductibles and the Retention requested
  • SOV (including all construction and roof information – year built, year updated); on schedules with more than a single building
  • 5yr Property loss history

Provided By

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Resources

Ready to Get Started?

Contact us to explore how Safehold can tailor a comprehensive package to meet your specialized insurance needs.

Due to the nature of this program, agents must have a surplus license to write wind buy back coverage.

Territory: National, some exclusions