Limits high CAT deductibles by applying the percentage only to damaged buildings, not the entire property, reducing out-of-pocket costs

Estimated loss refers to the potential out-of-pocket expenses due to high deductibles applied when a catastrophic (CAT) event, such as a tornado or hailstorm, damages your property. In CAT-prone areas, these deductibles can significantly increase your financial burden following a loss. The result can be substantial costs, potentially reaching six or seven-figure amounts.

The default approach in standard property insurance policies is to apply a percentage deductible against the total insured value of all properties at a location, regardless of which buildings or units were actually damaged. This means you might be responsible for a large deductible based on the entire property's value, even if only a portion was affected, leading to higher out-of-pocket expenses.

USI works with carrier partners to adjust the deductible application in your property policy. Our wording ensures that the percentage deductible applies only to the actual buildings or units that sustained damage from the CAT event. This focused approach can result in significant savings, reducing your deductible costs by high five-figure or six-figure amounts, and providing better financial protection against tornado and hail losses.

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Typically, no. Because of USI's expertise in risk management and strong relationships with insurers, we're often able to provide you with highly tailored insurance solutions with increased coverage at no additional cost.

No. These recommendations are a preliminary hypothesis based on what we know about you.  Once we're your broker, USI will determine what data we need to perform a comprehensive analysis of your property coverage needs.

 Every property is different, and the level of risk depends on factors such as operational hazards, natural catastrophe exposures, and physical protection in place. We analyze the specific risk factors of your property and recommend enhancements based on those findings. Rather than overselling, our goal is to offer coverage that matches your property’s unique exposures, preventing you from having to bear the financial burden of unexpected repairs.

The claims process with these enhancements is straightforward. These coverage enhancements ensure that more of your property is protected, reducing the chance of disputes over what is or isn’t covered. We streamline the process by clarifying coverage upfront and working closely with your carrier to minimize delays or complications in the event of a loss.