Weather Insurance
Venture Programs is pleased to offer a quick, easy and hassle-free way to provide weather insurance quotes, including Rain and Supplemental Hurricane coverage across various industry segments.
Weather Insurance
Discover peace of mind with our Rain and Supplemental Hurricane Weather Insurance products – tailored for clubs, charities and for-profit businesses that host golf tournaments, special events and outdoor activities.
What is weather insurance?
Venture provides Weather Insurance to help protect policyholders from lost revenue or increased expenses caused by adverse or abnormal weather. This can include excessive rain, snow, and even heat.
Policies are written explicitly for a location’s weather risks and we allow the policyholder to choose the duration of coverage (from 1 day up to 1 year) with limits tailored to the club or businesses’ needs (to cover lost revenues or cost of expenses).
How does weather insurance work?
The address of the event is the primary basis for all quotes, and we utilize historical weather information based upon this location. You receive an online, bindable quote in minutes. If you need guidance, our experienced Weather Insurance team can help you build a policy based on your needs and budget. Coverage for rain insurance must be purchased 15 days prior to the risk date. For hurricane supplemental insurance, there is a 30-day waiting period before coverage begins.
How is weather insurance measured?
Weather is measured using data from the National Oceanic and Atmospheric Administration (NOAA) entities including the National Weather Service and the National Hurricane Center.
When is weather insurance triggered?
Your policy is automatically triggered when the parameters you selected are met. Your claim payment is typically mailed within 14 days of a rain event, and within 30 days of a hurricane event. There’s no need to report a claim or prove damages.
What weather can be insured?
Our Weather Insurance policies can insure for:
- Rain
- Hurricane
How do I get a quote for weather insurance?
Simply register on our portal via the link below. Watch the Venture Sub-Producer Registration “How-To” demo for guidance:
Rain Insurance
Supplemental Hurricane Insurance
We also offer Supplemental Hurricane Insurance for organizations along the Gulf and eastern US coastlines. Our Supplemental Hurricane Insurance works in partnership with existing policies, mainly by covering gaps left in place by a traditional P&C policy.
For example, even if there’s no damage to a club’s physical location, hurricanes (and their aftermath) can make it difficult for clubs to conduct business operations as usual, and that’s where we step in.
All it takes is for any Category (1-5) hurricane storm track to pass through a 30-mi radius circle or for a Category 3 (or stronger) storm to track through a 60-mile radius circle around the club’s location, and your policy is triggered. Payments increase with storm intensity and proximity to the club.
Claim payments are typically mailed in less than 30 days. Coverage includes flood, storm surge, wind, business interruption, and any other financial loss. Payouts can be used to pay vendors and employees, cover lost revenues, take care of initial clean up around the club facility and more. And it couldn’t be easier…
- No proof of damage
- No financial records
- No adjusters
- No inspection
- No excluded perils
Policy Coverage Dates – Payout Schedule
For double radii policies, one loss payment per storm is calculated using the larger of the applicable percentages which represents a portion of the aggregate limit.
For single radius policies, only the 30-mile payout schedule applies. Distance is expressed in statute miles.
| Category | Loss Payment (%) | |
|---|---|---|
| 30 (mi radius) | 60 (mi radius) | |
| 1 | 5% | 0% |
| 2 | 15% | 0% |
| 3 | 35% | 10% |
| 4 | 70% | 25% |
| 5 | 100% | 50% |