Rogers & Gray Insurance has announced that it now has a very competitive alternative for homeowners whose insurance coverage is with the Massachusetts Property Insurance Underwriting Association – commonly referred to as the Mass Fair Plan.
The new option – Monomoy Insurance Group – was established with a goal of meeting the needs of an underserved insurance market and offers rates comparable to the Mass Fair Plan, but with enhanced coverage options and improved wind deductibles.
Homeowners across coastal areas typically have had no other option but the Mass Fair Plan to protect their homes as many insurance carriers will not write insurance in those areas due to the risk of severe storms. The Mass Fair Plan insures approximately 45% of the Cape & Islands market – about 65,000 homes.
“Time and time again, we hear “is the Fair Plan my only option?” from our clients and in many cases, we had to say yes. But not any longer. Rogers & Gray clients whose only option was the Mass Fair Plan can now have enhanced coverage for household contents, increased personal liability and medical payments limits, identity theft coverage and more with premiums that are either comparable or less than the MA Fair Plan.” says David Robinson, President & CEO of Rogers & Gray.
The products available through Monomoy are backed by the Spinnaker Insurance Company, an A.M. Best rated company. Best’s Ratings, which are issued through A.M. Best Rating Services, Inc., are a recognized indicator of insurer financial strength and creditworthiness.
Monomoy’s products are available exclusively through Rogers & Gray Insurance. Rogers & Gray was the leading agency behind the partnership with Spinnaker and the creation of Monomoy Insurance Group.
“As an independent agency, our goal is to always do what’s best for the client. We represent many insurance carriers and always try to place our clients with the company that will best meet their protection needs. For so many agencies in coastal areas, the only option was the Mass Fair Plan,” says Robinson. “With Monomoy, Rogers & Gray now has a better option and we look forward to helping clients enhance their coverage and protect what is so important to them.”
“Given their expertise and reputation, especially throughout coastal Massachusetts, Rogers & Gray is an ideal homeowners partner for Spinnaker as we bring our highly rated carrier platform to the Massachusetts marketplace. We are excited to back this FAIR Plan alternative and expect great things to come from our relationship with Monomoy Insurance Group and our reinsurance partners, “ says David Ingrey, CEO of Spinnaker Insurance Company.