FEMA reported that 80% of households affected by Hurricane Harvey were not protected with Flood coverage. Several factors contributed to this tragic statistic, including the false sense of security many had of not living in a “high-risk flood zone.”
The Woodlands Insurance Company, an IIAT member agency, has announced the launch of the first-ever Texas Homeowners Policy that will include flood insurance to all qualifying households.
With a tiered offering of Twico Prime, Twico Prime Plus, and Twico Prime 360, homeowners can choose between a baseline of $5,000 built-in flood coverage or up to full replacement coverage offering much needed peace-of-mind to Texas families.
In addition to flood, Twico is offering identity theft, service line, home cyber protection and home systems endorsements. These coverage options address other traditionally uninsured risks facing today Homeowners.
“Our area has suffered three major flooding events in the past two years, beginning with the Tax Day and Memorial Day floods in 2016 and followed up by the historic Hurricane Harvey in 2017. In responding to these tremendous events, it was disheartening to see so many people affected without coverage. Hurricane Harvey is second to Hurricane Katrina on the total losses paid out from the National Flood Insurance Program. Hurricane Ike (2008) and Tropical Storm Allison (2001) are included on the top 10 Most Significant Flood losses, this highlights the need for Texas Homeowners to obtain flood insurance,” said Gordy Bunch, Founder and Chairman of The Woodlands Insurance Company.
The Woodlands Insurance Company (TWICO) is a Domestic Insurance Company domiciled in The Woodlands, TX, founded by Gordy Bunch.
Mr. Bunch is the founder of The Woodlands Financial Group (TWFG Holdings, LLC) that was founded in 2001, and includes sister operating companies TWFG Insurance Services, LLC, TWFG General Agency, LLC and TWFG Premium Finance Company, LLC. Mr. Bunch was awarded the 2015 Gulf Coast EY Entrepreneur of the Year, is a US Coast Guard Veteran and serves as the Chairman of The Woodlands Township.