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How to Hurricane-Proof Your Home… Affordably

March 6, 2019 by NHSI

Close-up of craftsman hands in protective gloves measuring wooden plank with ruler and pencil. Woodwork and renovation concept.

Hurricanes can cause tremendous stress to homeowners, even before they hit. From grocery stores jam-packed with frantic shoppers to gas stations lined up with thirsty cars, preparing for an upcoming storm causes stress for just about everyone around town. And even after the storm has passed, it often may leave countless obstacles scattered in its wake. One of the most daunting post-hurricane challenges is assessing the damage to your home (and figuring out how to pay large, unexpected bills to repair the damage).

Now imagine a different way. Instead of the usual stress and frustration associated with such an ordeal, you can be calm and collected while assessing the storm’s aftermath. You’re able to do this because you were fully prepared to face the storm before it hit. Your home was already armed with a backup generator, storm shutters, and wind- and water-resistant measures securely in place. The best part is, you were able to do it all through 100% financing with no money down.

A unique and efficient program called Property Assessed Clean Energy (PACE) makes this possible. Scientific American has proclaimed the PACE program as one of its top 20 “world-changing” ideas; PACE is an affordable program that allows homeowners to make energy efficient and hurricane protection improvements to their homes that will continue to benefit them long after hurricane season has passed.

According to a survey by the National Hurricane Survival Initiative, 66% of Floridians identified installation of impact-resistant windows as one of their top three home-hardening preferences. With wind and water damage contributing significantly to a hurricane’s disastrous after-effects, PACE eligible storm protection improvements can greatly reduce the potential damage of a hurricane, including high-impact doors and basement membrane waterproofing.

“Everyone wants their home to be able to withstand the worst of a hurricane, but not every family’s budget has the means to make home hardening possible,” says David Kelly, Senior Vice President of Sales with Ygrene, a PACE provider and national leader in clean energy financing for storm home improvements. “Floridians are fortunate that the state is one of just three in the nation that allow residential PACE, so they should take advantage by investing in their future while increasing their property’s value now.”

The process for getting PACE financing approval is simple, taking just three easy steps:

  1.     Get qualified
  2.     Select a project
  3.     Choose a contractor.

Homeowners can get prequalified in less than thirty minutes with an online application, and their entire project is 100% financed with no money down. Even repaying the financing is easy; payments are added onto and made with the owner’s property tax bill and can be delayed up to a year or more, with the cost spread out over the lifetime of the financing agreement (sometimes up to 30 years). Eligibility is primarily based on factors other than credit score, such as home equity.

Hundreds of Projects Qualify including solar, heating and AC, and roofing.

PACE projects aren’t just proactive ways to start preparing for the inevitable challenges of hurricane season. PACE home improvement solutions can also result in a more sustainable home for you and your family. Options such as solar panels, electric vehicle charging stations, and wind turbines may help lower your utility bills.

In the end, the greatest value of PACE-financed improvement is the peace of mind that comes with knowing your home is properly hardened against the forces of nature, before they happen. The more prepared you are before the hurricane, the less you’ll need to worry once it arrives.

Ygrene PACE Financing How it Works from Ygrene Energy Fund on Vimeo.

For more information regarding Ygrene and how you can begin the PACE process today, visit Ygrene.com.

Filed Under: Blog, Get Ready, Florida Tagged With: Home hardening, hurricane preparation, PACE Financing, Storm Protection, Ygrene

Assured Risk Cover Making Big Waves in Immediate Protection for Hurricane-Prone Florida

August 23, 2018 by NHSI

CLEARWATER, FL & PLEASANTON, CA — While much of Florida is still recovering from the catastrophic damage caused by Hurricane Irma, many Sunshine State residents and businesses have found there’s a way to bounce back from a storm faster than ever before. When a hurricane hits and there are immediate costs, homeowners and commercial insurance usually don’t offer a quick fix — that’s where StormPeace comes in.

Unpredicted expenses such as debris removal, business interruption, spoiled food replacement, and evacuation costs rapidly add up and aren’t covered by the average homeowners and commercial insurance policy. StormPeace is parametric insurance offered by Assured Risk Cover that automatically pays eligible policyholders based on the strength of the hurricane and distance of the hurricane track at its closest point from their property. Policyholders can use the funds for virtually any hurricane-related costs.

“Our company paid 100 percent of eligible claims for Hurricane Irma, most within 24 hours of attestation,” said Alok Jha, CEO and founder of Assured Risk Cover. “With experts predicting active storm seasons to be the new normal, it’s crucial that residents are aware of products that will better help them recover from what is an inevitable event in the state of Florida.”

StormPeace recently partnered with the FAIR Foundation and the National Hurricane Survival Initiative to produce the 30-minute TV special, Get Ready, Florida! Through this sponsorship, the company was able to educate Floridians on how preparing early for the unexpected is necessary particularly in a state with 1,300 miles of coastline.

“Because of StormPeace, I can enter hurricane season with greater peace of mind,” said Jay Neal, CEO of the Florida Association for Insurance Reform. “Renewing my policy is now a part of my pre-season preparation — it’s comforting to know that many unplanned storm costs will be immediately covered.”

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ABOUT ASSURED RISK COVER

Assured Risk Cover (ARC) is a venture-backed Silicon Valley corporation based in Pleasanton, California. ARC is founded by an experienced team of catastrophe risk professionals whose singular vision is to bring immediate financial relief to people globally following catastrophes. Alok Jha (CEO), Kanwal Rekhi (lead investor from Inventus Capital Partners) and Kevin Schrage (former President of Aon Smalln Commercial Lines) form the Board of Directors of ARC. StormPeace is backed by highly rated insurance and reinsurance companies—ranked A- and A+ by A.M. Best, respectively. For more information, visit www.stormpeace.com and www.assuredriskcover.com.

 

Filed Under: Blog Tagged With: Assured Risk Cover, Florida, hurricane preparation, hurricane season, parametric insurance, StormPeace

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