LightSpeed Specialty Insurance Solutions is a team of proven California property experts operating as an MGA, delivering homeowners and landlord coverage solutions through select California retail agents.
Our solutions are underwritten on behalf exceptional underwriters at Lloyd’s of London along with other superior companies.
As one of the world’s largest and most recognized insurers, the unparalleled security of Lloyd’s of London will give your insured clients and you the peace of mind that in the most challenging California insurance market ever, a long-term, incredibly financially strong and stable company is offering residential property insurance.
Lloyd’s has over $114 Billion in assets and $60 Billion in surplus ; Established in 1689
Lloyd’s is rated ‘A Excellent’ by AM Best, and ‘A+’ by Standard & Poors
Homeowners
- Owner-occupied Single-Family Dwelling Only
- Properties must be insured to 100% of replacement cost
- Property Coverage – Total Insured Value (all property coverages combined) Maximum $2.3M
- Coverage A – Dwelling, your home’s primary structure – $1.3M (no extended replacement cost available)
- Coverage B – Other Structures, any structures such as a shed or garage detached from the main home – 10% of Coverage A
- Coverage C – Personal Property, your clothing, furniture, and other household items – 50%
- Coverage D – Additional Living Expense, the extra costs incurred if the home becomes unliveable due to a covered loss – 20%
- Liability Coverage:
- Coverage E – Comprehensive Personal Liability, coverage if you cause bodily injury or property damage to someone else $300,000
- Coverage F – Medical Payments, coverage to provide first aid if an accident happens at your home – $5,000
- Deductibles:
- COV A less than $1M: $5,000
- COV A greater than $1M: $10,000
- Water Damage: $10,000
- Wildfire: 2% for policies outside Wildland Urban Interface; 5% for policies inside the Wildland Urban Interface
- Year built: 1900 or newer
- Square Footage: 1,000 – 5,000
- Protection Class: 1-6, all X, Y, and B zones ineligible
- Low Wildfire risk only
- 1 prior Cat/Non-Cat loss acceptable
Landlord
- Tenant occupied Single Family, Duplex, Tri-Plex, or Four Plex; Owner may occupy one unit
- 100% Insurance to Value
- Property Coverage – TIV Maximum $1.7M
- Coverage A – Dwelling, your home’s primary structure – $1.3M (no extended replacement cost available)
- Coverage B – Other Structures, any structures such as a shed or garage detached from the main home – 10% of Coverage A
- Coverage C – Personal Property, your clothing, furniture, and other household items – optional
- Coverage D – Additional Living Expense, the extra costs incurred if the home becomes unliveable due to a covered loss – 20%
- Liability Coverage::
- Coverage L – Premises Liability $300,000, coverage if there is bodily injury or property damage cause on your rental properties premises
- Coverage M – Medical Payments – $5,000, coverage to provide first aid coverage if an accident happens on your rental property
- Deductibles::
- COV A less than $1M: $5,000
- COV A greater than $1M: $10,000
- Water Damage: $10,000
- Vandalism: $25,000
- Wildfire: 2% for policies outside Wildland Urban Interface; 5% for policies inside the Wildland Urban Interface
- Year built: 1900 or newer
- Square Footage: 1,000 – 5,000
- Protection Class: 1-6, all X, Y, and B zones ineligible
- Low Wildfire risk only
- 1 prior Cat/Non-Cat loss acceptable