YOU ASK:

What is the definition of Beach and Windstorm Plans?

WE ANSWER:

Beach and Windstorm plans protect against losses due to windstorms and hurricanes.

This kind of insurance is usually sold by state-sponsored insurance pools, since the voluntary market does not sell this. Most insurance companies do not willingly sell this kind of plan because of the high risk exposure, especially in states where windstorms and hurricanes often occur. The insurance pools are made up of insurance companies that are licensed to operate in a specific state. The insurance companies are required to sell a certain part of the risk. However, the funding and the mechanics for beach and windstorm plans may vary from state to state.

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