SageSure Insurance is making waves in the insurance industry, especially among brokers looking for reliable options for their clients. Founded in 2009, this Jersey City-based company has quickly grown to become one of the largest Managing General Underwriters (MGUs) in the United States, focusing on property insurance in areas prone to natural disasters.
What sets SageSure apart is its role as an MGU rather than a traditional insurance carrier. This means it doesn’t have ratings from major agencies like A.M. Best or Moody’s, which can make assessing its financial strength a bit tricky. However, it has received an "A" rating from the Better Business Bureau, which reflects positively on its customer service.
SageSure offers a variety of insurance products, including homeowners’ insurance, landlord insurance, flood insurance, and commercial property insurance. It also has unique offerings like a shingle resealing program, which helps homeowners in hurricane-prone areas protect their roofs, and an electrical fire prevention program that provides sensors to detect hazards.
The company operates in 16 states, including Florida, California, and New York, and often partners with highly rated insurance carriers to underwrite its policies. This partnership approach allows brokers to check the financial strength of the carriers backing SageSure’s products, which can provide some reassurance to clients.
Despite its rapid growth, customer feedback about SageSure is mixed. Many customers praise the helpfulness of SageSure’s agents and the ease of obtaining coverage. However, there are also complaints about denied claims, particularly for roof and water damage, with some customers feeling that their policies were unfairly canceled after filing claims.
As SageSure continues to expand, brokers and customers alike are urged to carefully consider their options. While the company has made significant strides in the industry, the lack of independent financial ratings and mixed customer experiences suggest that potential clients should do their homework before committing to a policy.
Overall, SageSure is carving out a niche in the insurance market, especially for those in high-risk areas, but it’s essential for brokers to weigh the pros and cons before recommending its services.