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Motus Insurance Services partners with Paisley via BHI Digital, to launch Earthquake product in all 50 states
SAN FRANCISCO, March 1, 2022 /PRNewswire/ — Motus Insurance Services, LLC has added Beazley PLC via BHI Digital to provide an optional earthquake program to residential and business associations. Beasley is a public company (LSE: BEZ) with over $3 billion in premium and maintains an A rating from AM Best with a stable outlook. Paisley will give condominium associations and their individual unit owners access to the market leader in deductible catastrophic purchase insurance, adding more flexibility to the Motus product range with a carrier that can ensure these risks are properly targeted.
Motus Insurance Services: Certificate professional insurance made simple. Professional insurance for an increasingly complex world.
“This is an important step for Motos and our customers,” says CEO Dan Wallis. “We can formally write our earthquake insurance program in all 50 states, and adding Paisley as the fourth insurer validates our unique earthquake insurance program for associations. Each of our carriers takes a different view of earthquake risk, and adding Paisley adds even more capabilities to our program. And that’s It means we can offer the most competitive rates to our customers, whether they are focused on full coverage in the event of a major earthquake, or paying for minor repairs.”
“Motus Insurance Services is, in my opinion, as innovative in the insurance industry as it is today,” says Kevin Ware, co-founder of BHI Digital. “Through our partnership with Motus Insurance Services, together we can provide fewer earthquake discounts to individual condominium owners in an association than is typically available in the insurance market. Rather than tie their hands at a massive discount in the event of loss and potential cash flow problems, owners can Units purchase a lower deductible through Motus Insurance Services that fits their wants and needs. Not only in California, but now all over the United States.”
Motus was founded to provide housing and membership association councils with a third option: an optional tailored earthquake insurance program that provides individual unit owners with the benefits of commercial underwriting and commercial coverage without placing a burden on the association’s budget. The Motus Opt-in Earthquake Program offers a better option for associations struggling to manage risk within increasingly difficult financial constraints.
The Motus Opt-In Earthquake Program is designed to offer all the benefits of a traditional major earthquake insurance policy to over 30,000 societies and 2.2 million uncovered apartment owners.
Only a major earthquake policy can allow an apartment owner to fully protect the property rights in their home. This is because only the main policy can cover damage to apartment buildings, foundations, garages, underground pipes, and other common areas within the community. Traditional unit owners policies (which are not available to many apartment owners) are designed to complement a traditional main policy – not to replace the coverage you provide. These unit owner’s traditional earthquake policies are based on zip code rates and coverage of critical coverages such as loss assessment or contingent liability coverage.
Each Motus program is specifically designed based on the association’s specific exposures. Once the board of directors approves their association’s Motus program, each unit owner has the option to purchase their proportionate share of the master policy — which covers unit interiors, apartment buildings, and common areas. No more mind-boggling exclusions. To learn more about Motus, visit http://www.motusins.com.
SOURCE Motus Insurance Services
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