Aegis to Offer Palomar Earthquake Insurance

A new bulletin from Aegis states: “Aegis General Insurance Agency is pleased to announce a new California Residential Earthquake product offering... Palomar Specialty Insurance Company.” This means that Aegis is teaming up to sell Palomar property Earthquake Insurance.

Palomar insurance, a California Earthquake Insurer is very well known in the property insurance space. Known for solid coverages and fair pricing, Palomar is a great option for millions of Americans to insure their home. Homeowners insurance policies excluded land movement coverage, including earthquake, typically.

Palomar offers an “admitted and E&S solutions for catastrophe risk.” with a “A.M. Best “A-” Financial Strength Rating says the press release.

This product will be available to agents that are appointed with the Aegis Easy Plaform. “The new earthquake product complements the other residential property programs already available from Aegis General and will be integrated into the Aegis policy platform. “

This is big development in the Earthquake insurance landscape. Two of the larger independent [Non-CEA] options: Geovera and Palomar seem to be facing off. This is one more step in the progression, in this agencies opinion.

The date of this Press Release was May 23th 2022 direct on the Aegis Easy website.

About Aegis and Aegis General Insurance Agency:

There are two Aegis in the insurance landscape. Please do not confuse them, all though they do appear related.

Aegis, or Aegis Security Company offers “Property and Casualty insurance, Surety and Accident and Health insurance” according to their website. They have an AM Best A- Financial Strength Rating. Source.

Aegis General Insurance Agency provides “insurance solutions for manufactured homes and specialized, underserved markets” according to their website. The Aegis General Insurance Agency has the connection, now to Palomar Earthquake. Source2.

About Palomar:

According to their site, Palomar is an “innovative insurer focused on providing specialty insurance to residential and commercial customers.” The insurer provides earthquake insurance, among other coverages. Palomar Specialty has an AM Best A- Financial Strength Rating. Palomar is considered an Independent Insurance Provider.

About Earthquake Insurance:

Homeowners insurance policies, that are unendorsed to the coverage, typically do not provide coverage for earthquake. Typically consumers either endorse their homeowners policy or purchase a separate standalone policy to provide EQ coverage.

Main Source of Information for this article: Palomar Joins Aegis Platform.