ShoreOne Insurance was created to address the failure of most insurance carriers to provide flood coverage. To get flood insurance, homeowners may have to separately purchase the policy through the National Flood Insurance Program (NFIP) or other private providers.
ShoreOne is now offering a combined home insurance and flood policy to homeowners, which will make it easier for policyholders to manage their insurance needs in one place. With this policy, homeowners will have one deductible that applies to claims on both policies. This becomes very handy, particularly for flood-exposed coastal homeowners.
However, the company does not provide more specifics on its website regarding home and flood coverage, but we can expect it to offer the basic coverage that generally comes standard with these policies.
ShoreOne also has limited state coverage, which leaves most states with flood concerns out of coverage.
In addition, ShoreOne is still a new business in the market, and we couldn’t find many reviews about them from customers. This isn’t uncommon for a new company, since it might take some time to establish its presence.
Based on our review and research about ShoreOne, this article will explain all we have found about them. This will also cover the states they work with, including where they perform better and less.
Pros and Cons
Pros
- Seamless integration of home and flood insurance
- Good for homeowners in exposed coastal areas
- One deductible for flood and home policies
Cons
- Limited state availability
- New company and few customer reviews
- No detail regarding cost of insurance on the site
- Policy can only be obtained through an agent
State availability
ShoreOne home and flood coverage is only available in the states of New Jersey, South Carolina, Massachusetts, and New York.
About SHoreOne Insurance
ShoreOne was founded in 2019 by a small team ofinsurance professionals aiming to cover the lapse left by home insurance companies regarding their exclusion of flood coverage from home insurance. The company is based in Massachusetts.
Like all insurance agencies, you can’t directly obtain a quote on the ShoreOne website, but instead through an agent.
You only need to provide your contact information and name to be matched with an agent, who will then walk you through the enrollment process.
Keep in mind that you must reside in the states mentioned above in order to get coverage.
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ShoreOne home and flood insurance coverage
Shoreone is not explicit as to what is covered under its home policy. However, this is what comes standard on most home policies:
- Personal property: This will pay to repair or replace your damaged belongings like clothes, furniture, electronics, and similar items.
- Dwelling coverage: If the physical structure of your home, including roofs, walls, etc., gets damaged, this will cover the repair or replacement costs.
- Loss of use:also known as additional living expenses, will pay for the costs you incur for accommodations, meals, and other expenses if you can’t live in your home due to repairs after a covered loss.
- Personal liability: Personal liability will cover damages caused by you to other people or their property, including legal fees if you get sued.
- Medical payments: This will cover injuries sustained by guests in your home, regardless of who is at fault. This includes payment for medical bills and other minor treatments.
- Other structures:This extends coverage to other structures you own that are not connected to your home, like shreds, garages, and fences.
ShoreOne insurance flood coverage
To find out what is covered under ShoreOne flood insurance, you need to purchase a policy. According to the nation’s leading flood insurance provider (the National Flood Insurance Program), these are the two types of flood coverage:
Building property coverage
This will cover all damages to your building structure. It generally covers the following:
- Plumbing and electrical systems
- HVAC systems
- Installed paneling
- Permanently installed carpet
- Wallboard
- Bookcases
The maximum NFIP will pay for damages under this coverage is $250,000.
Personal contents coverage
Like personal property coverage found on a homeowners policy, personal contents coverage will pay for damages to your personal belongings. This includes:
- Electronics, including TVs and computers
- Furniture
- Clothing
- Firearms
- Jewelry
- Art
The maximum coverage limit is $100,000.
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Discounts
Discounts are not displayed on ShoreOne’s website. You can discuss this with an agent to find out if any apply.
How to file a claim
Policyholders can submit claims through the customer account portal online. Here is what you need:
- Your ShoreOne policy number
- Insured’s last name
- Phone number
If you need more help, you can call their customer support at 888-201-0394.
ShoreOne insurance rating and reviews
After researching ShoreOne on major credit rating sites, including the AM Best, here is the company’s current position and standing:
Reviews on AM Best
AM Best, the industry leader in financial strength ratings, has not assigned a rating to ShoreOne. This means the company does not have the full financial capacity when compared with other top insurance companies.
Reviews on BBB
Like AM Best, the company does not have any ratings or reviews with the Better Business Bureau.
Reviews on Demotech
ShoreOne is also not rated on Demotech, as the site does not provide any information about ShoreOne.
Our Verdict
Before shopping for insurance, trusting the company you are trading with is important. Although ShoreOne makes home and flood insurance manageable for homeowners, we found no rating about them online, including one from AM Best.
Also, we could not find any customer reviews about ShoreOne online, which makes it difficult for us to ascertain their reliability and trustworthiness. Only press releases from Business Wire and MarketWatch were the only information available online.
If you are not satisfied with ShoreOne’s rating and reviews, we suggest comparing quotes from other private companies with better ratings that offer flood insurance.
Frequently Asked Questions (FAQs)
Who needs flood insurance?
If you own a home in coastal areas that are prone to flooding, you might want to get flood insurance. It is also important to know that flood insurance may be required by mortgage lenders for properties located in high-risk flood zones.
Apart from ShoreOne insurance, where can I get flood insurance?
The National Flood Insurance Program, which is regulated by FEMA, is the largest provider of flood insurance in the United States. Other private companies, like Chubb and Wright Flood, also offer flood insurance.
Is flood insurance required by law?
Flood insurance is not required by federal law. However, mortgage lenders might require you to own one.
Is there a waiting period on ShoreOne’s flood insurance?
While ShoreOne does not provide details regarding waiting period on their website, the NFIP places an average 30-day waiting period from the time of purchase befor your policy kicks in.
