Silicon Valley startup now offering special hurricane insurance in Florida

The 2017 Atlantic Hurricane Season officially begins June 1st.

For Floridians, hurricane season can bring months of anxiety over if/when the next hurricane will hit.

But there is a new form of insurance available to give homeowners peace of mind.

It’s called parametric insurance and a Silicon Valley startup is offering coverage in Florida only.

Assured Risk Cover is now selling a product they call Storm Peace.

Company spokesman John Novaria says it's basically a form of supplemental insurance.  He calls it a homeowner's version of AFLAC.

The money can be used to buy a generator or make repairs immediately after the storm.  “It pays out, right away, after the storm.  There’s no claims process, so there’s no hassle,” said Novaria.

Your deductible and pay out are calculated based on where you live and the likelihood a storm will hit.  Your pay out is calculated based on the location of your home in relation to the path of the storm and the strength of the system.

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