CLEARWATER, Fla., May 24, 2018 (GLOBE NEWSWIRE) -- With forecasters predicting another active hurricane season, now is the time to take stock of your financial readiness. Most people assume their Homeowners insurance covers everything, but it doesn’t cover many out-of-pocket expenses, which often come as a surprise at the very worst time.
“You could find yourself stranded because a tree is blocking your garage, or you could be without power,” says Alok Jha, CEO of Assured Risk Cover. “With a supplemental insurance policy you can have cash in your pocket within days so you can clear a path to the street, or when the hardware store reopens you can purchase a generator and get the power back on.”
For the second year, StormPeace will be protecting Florida residents who understand the importance of getting back on their feet quickly after a disaster. StormPeace is parametric insurance that pays instantly based on the strength of the hurricane and its distance from your property. There’s no claims process and the money is automatically wired to your bank account.
“Last year after Hurricane Irma, Assured Risk Cover paid 100% of eligible claims, 98% of these claims were paid within three business days, most within one business day,” says Jha. “We emailed notifications to all eligible policyholders and all they had to do is reply in order to receive their claims money.”
"Within one hour of a major hurricane passing over my house I was able to determine what financial assistance I may get from my insurance company,” says R.B of Naples. “Unbelievable, unprecedented ... and a happy customer for life."
StormPeace covers a wide variety of expenses excluded from Homeowners insurance policies, such as repairing pool cages and unattached structures, replacing spoiled food and the cost of a hotel room and meals. Most importantly, you can use the proceeds to meet your Homeowners deductible, which can run into the thousands of dollars.
“If you can’t meet your deductible you may not be able to rebuild,” says Jha. “Or, you could take out a loan or put it on a credit card, which puts additional financial strain on the family budget.”
Jha anticipates an uptick in policy sales with the forecasts pointing to another intense hurricane season.
“The first few hours and days after a hurricane can be paralyzing, and that's why it’s important for residents to take some important financial preparedness steps while the sun is shining,” says Jha. “We can’t totally remove the stress from hurricane season, but supplemental insurance can certainly ease some of the anxiety.”
"Having bought StormPeace, I feel so much better going into this hurricane season,” says K.J. of Tampa.
For more information about a StormPeace policy, visit www.stormpeace.com or call (877) 932 9377.
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 Small 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.
Contact:
John Novaria
310.857.8934
john@assuredriskcover.com