Mattina Insurance Agency, Inc. & the New Coastal American Insurance Company

Mattina Insurance Agency, Inc. was established in 1983 in Biloxi by Roy N. Mattina, Jr, after 12 years as a sales representative for Metropolitan Life Insurance Company. The agency has developed into a full service “trusted choice” independent insurance agency specializing in auto-home-life-health-group-commercial insurance and representing over 40 insurance companies . MIA, Inc. is a member of the Independent Insurance Agents of America, the Biloxi Chamber, Biloxi Bay Chamber, Orange Grove/Lyman Chamber, Gulfport Chamber (affiliates of the Ms. Gulfcoast Chamber of Commerce) and received the honor of Business of the Month from the Gulfport Chamber in October 2009 for their new Gulfport office located in Community Plaza on Highway 49. The agency’s staff makes it a point to be very involved in the on-going changes and challenges in the insurance industry throughout the Mississippi Gulf Coast and strives to offer the most coverage at the least possible cost for their policyholders. MIA, Inc. was recently named a member of the H.K. Dent Society, named for Hawthorne K. Dent, founder of Safeco Insurance Company. This recognition is for agents who meet qualifications based on written insurance premiums, growth, loss ratio, and tenure of policyholders. Roy also recently attended the 2009 Safeco/Liberty Mutual Presidents Conference at the Grand Hyatt Resort & Spa in Kauai, Hawaii.

The newly formed Coastal American Insurance Company is an admitted carrier and domiciled in the State of Mississippi. The company was recently capitalized by outside investors and six local independent insurance agents located in Harrison, Jackson, and Hancock counties. Roy Mattina , Jr. is very proud to be an investor in this new venture aimed at providing affordable homeowner rates to the residents of the Ms. Gulfcoast. Reinsurance is in place providing adequate capital and financial stability assuring policyholders that they will be protected in the event of future losses. Policies will be issued through zones A, B, C, and D, which includes property on the beach. These are the same Mississippi zones that are in the Mississippi Windstorm Underwriting Association (M.W.U.A.), also known as the windpool. Again, this includes waterfront homes as well as homes throughout Mississippi .

Depending on the situation, residents will have the option to include wind in the policy or exclude wind and take out a separate windpool policy through M.W.U.A. The same credits will be offered with a certificate of occupancy as are offered in the windpool. This insures that the home was built at the correct building codes. Since hurricane Katrina, many insurance companies on the Coast elected to insure homes excluding wind. Some also made the decision to stop writing policies for homeowners or to exit the Coast altogether due to our wind exposure. The members of Coastal American saw the need to have a policy that would be inclusive of wind and hail. Homeowners would receive windstorm coverage with one policy without having to go through the windpool for a separate policy. However, to qualify for a Coastal American homeowner policy that includes wind and hail, a flood policy is mandatory and must remain inforce.

Currently, when windstorm coverage is excluded in a homeowner policy, the windstorm policy written through M.W.U.A. does not pay at replacement cost on personal contents . When you have a policy with Coastal American, you have the option to keep your contents at replacement cost or, if you prefer to pay a lower premium, you can write the policy with an actual cash value (replacement cost minus depreciation). Wind deductibles are normally a percentage of the dwelling value, if you have a home valued at $100,000 and you have a 1% deductible, you would be responsible for $1,000. If you have a 2% deductible, you would be responsible for $2,000. The windpool gives the homeowner a deductible choice of 2% , 5%, or higher and Coastal American offers an additional option of 3% giving additional flexibiity for the policyholder. Note that the windstorm deductible refers to a percentage of the dwelling value, not the claim value. Rates are determined in a number of ways – the location of the home, the territory, the year the house was constructed, and any updates or remodeling . If the house was completely renovated after Katrina, credits can be given based on the effective age of the dwelling. Unlike some companies, Coastal American does not penalize policyholders with credit issues.

Coastal American opened it’s doors in May. Numerous policies have already been written and interest in the new company is at an all time high. “ Word of mouth” has been the best form of advertisement, and the agency principals are extremely pleased with the number of calls and inquiries that are coming in daily. Two claims are permitted within a 36 month period; one non – weather related, and one weather related claim.

MIA in Biloxi
1829 Pass Road
Biloxi, MS 39531
228-388-2614
biloxi@mattinainsurance.com

MIA in Gulfport,
11010 Hwy 49, Ste 1
Gulfport, MS 39503
228-832-1100
gulfport@mattinainsurance.com

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