10/02/2011 (press release: triest01) // Charleston, SC, USA // Triest Agency Insurance
Triest Agency Insurance announces new programs available to provide homeowners insurance protection to coastal South Carolina residents. In recent years the cost of insuring homes in coastal areas has increased substantially. This can be attributed to the increased number of homes and other structures now located on the coast compared to the number ten or twenty years ago. It is also a global insurance problem since there have been so many catastrophes worldwide and global insurers and reinsurers are trying to lesson exposures by not being highly concentrated in certain high risk areas. Global catastrophies include hurricanes, floods, tsunamis, terrorism and earthquakes. The coastal areas of South Carolina are considered a high risk area due to the risk of a catastrophic loss caused by a hurricane.
Coastal South Carolina has been no stranger to hurricanes of catastrophic proportions. In 1989 Hurricane Hugo touched down around Charleston and caused billions of dollars of property damage to coastal areas from Kiawah and Seabrook to Myrtle Beach. The hardest hit areas were those located just north of Charleston around Bulls Bay.
Since there is a shortage of insurers willing to write coverage in coastal South Carolina, Triest Agency Insurance uses a network of top brokers that have resources to find the most competitive markets for these coastal property owners. This includes coverage for their homes, businesses and automobiles. All of which are exposed if they’re located in coastal areas. Certain areas on the coast of South Caroina are within what’s called the “wind pool”. These special areas are eligible for protection from a wind pool association that is state sponsored. Triest Agency Insurance only uses this association as a market of last resort and has found markets for many of these homeowners and business owners using insurers that will assume the primary wind coverage. The net results in lower premiums for clients in most cases.
Hurricane Irene passed close to the coast of South Carolina in September of this year but fortunately didn’t cause much damage. Since it is still hurricane season Triest Agency Insurance recommends all property owners take a few minutes to review their coverages. The agency will review anyone’s coverage as a free service to any property owner regardless of where they’re insured.
Established in 1903, Triest Agency Insurance is one of the country’s oldest insurance agencies. Triest Agency Insurance specializes in writing insurance for coastal residents of South Carolina in addition to programs for all areas of the state of South Carolina. That includes providing insurance protection for property and auto insurance in Columbia, Greenville, Spartanburg and Florence.