|June 10, 2020
Dear MPG Brokers:
I am excited to announce that Vault is now offering admitted paper for their High Net Worth Personal Lines products in Rhode Island. Vault also has non-admitted paper available for homes that do not belong in the admitted marketplace.
Here are some bullet points for the Vault’s appetite in the Northeast:
- Minimum coverage A replacement cost is $1M. If multiple homes are insured, lesser values can be considered as long as at least one home is valued at $1M or greater.
- No elevation certificates are required.
- Coastal primary & secondary homes will be considered, even on the islands.
- Monoline primary & secondary homes including long-term & short- term RTO locations (Airbnb & VRBO).
- No hurricane deductible required, although Vault can provide options upon request.
- Vault’s E&S contract, claims adjusters and inspectors are the same as their admitted.
- Quoting is easy – Send MPG an ACORDs, dec pages, MPG’s Quote Sheet or even email write ups. Submissions should be sent to PCSapps@maritimepg.com.
- Vault’s risk consulting will review current appraisals to consider reducing coverage A limits on accounts believed to be overvalued. In most cases inspections can be waived so not to disturb the client and to avoid incurring inspections fees.
- Monoline homes will be considered, even if other locations and lines are with another carrier.
- Vault and MPG will handle taxes and filings.
- Policies are direct bill to the client.
For additional information on Vault and MPG’s other High Net Worth personal lines carriers, please contact Brian Botwinick, firstname.lastname@example.org or Tim Boyle, email@example.com.
Damon Pesce – VP Business Development