We know what some of you are thinking – earthquake insurance is one of those unnecessary coverages that you’ll pay for, but probably won’t end up using. We’re here to shake that thinking up (pun intended). If you’re in an area that’s prone to earthquakes or has experienced an earthquake in the past few decades, it’s worth it to look into getting earthquake insurance. Earthquakes can cause intense damage, costing thousands of dollars. In fact, a report conducted in 2023 by the U.S. Geological Survey and FEMA estimates that earthquake damage costs the U.S. $14.7 billion dollars annually – an increase of 140% over the previous estimate from 2o17.*

What is earthquake insurance, and what does it cover? 

Earthquake insurance is a specialized type of insurance designed specifically for covering the cost and repairs of damage caused by earthquakes (since your standard homeowners won’t).  Earthquake insurance coverage ranges from structural damage to your home (e.g., your roof, damaged walls, etc.) to replacement of personal property (e.g., your furniture, appliances, etc.). If you need to find a temporary place to stay, it can also help to cover those expenses. Keep in mind, this isn’t a one-policy-covers-all type of insurance, so make sure you run through the details of exactly what your specific earthquake insurance policy covers with your agent. 

Why do I need earthquake insurance? I have a homeowners policy. 

Your homeowners policy will cover many things; but one thing it doesn’t cover is damage to your home, structures, and personal property caused by earth movement (i.e., an earthquake). If your home is in an earthquake-prone area, we highly recommend looking into obtaining earthquake insurance. Good news! Our Bamboo Insurance Agency can help with finding options for you. 

What factors impact the cost of earthquake insurance? 

When obtaining earthquake insurance, your location, the cost of rebuilding your home, and risk tolerance are considered. All these factors impact the cost.  

Does my renters insurance cover earthquakes? 

Unfortunately, it doesn’t. Renters insurance is great for covering situations like vandalism, theft, fire, and other events; however, it generally doesn’t cause damage directly caused by earthquakes. 

Which one is better to have? Homeowners/renters or earthquake? 

If you live in an earthquake-prone area, you should look at obtaining both. Let’s say an earthquake causes a fire, and that fire causes damage to your home. In that situation, your homeowners or renters insurance policy would come in for the save. However, if the earthquake directly causes damage to your home, that’s when that earthquake insurance would really come in handy. 

Looking to learn more and potentially get earthquake coverage? 

Connect with one of our experienced Bamboo Agents 👉 Contact Us Page


*Source: temblor.net

Damage to the home caused by water is one of the costliest and most stressful situations homeowners deal with. Even worse? Most homeowners don’t even know they had a leak to start. The impact of water damage can result in way more than just wet floors – like potential mold growth over time, broken pipes, damaged walls, and destruction of your home’s structural integrity. In fact, according to the Insurance Information Institute, approximately 14,000 people nationwide are impacted daily from water damage.  

When it comes to a leak, it’s critical to get the leak stopped and water dried up within the first 24 hours to avoid the growth of mold. The good news is that there are options for systems, like an automatic water shut off system, to keep you aware of any leaks in your home that will even shut off your water to prevent excessive damage. Even better? We’ve partnered up with Phyn, a trusted provider of property and water protection systems, to make it easy to find your ideal one.   

The Phyn Plus system includes a water shut-off mechanism that leverages advanced machine learning and AI to accurately alert you the moment a leak is detected and if needed, will automatically shut off your water. The result? The avoidance of extreme damage done to your property and the costly fixes that come with it. We’ll just go ahead and add this cherry on top: When you purchase a Phyn Plus through us, you’ll get 15% off the system. Wait, it gets better: Phyn will let us know once you’ve installed it and we’ll apply 10% off your Bamboo homeowner policy’s premium**. 

To get started, email customerservice@bambooinsurance.com with your policy number and a quick note asking for the Phyn link.

About Phyn 

Since Phyn’s start, they’ve shown unwavering dedication to improving users’ health, well-being, and communities by strengthening their relationship with water. Their mission is to create the best technology for a more sustainable relationship with water by reducing loss and protecting property and life on the only known planet to support humanity. Learn more about them by visiting phyn.com/pages/mission. 

Bamboo Ide8 Insurance Services (Bamboo) is Managing General Agency licensed to sell property-casualty insurance products; NPN 18657046; CA License #0M31082. Products and services are provided by Phyn, LCC, or its independent contractors and not Bamboo Ide8 Insurance Services, LLC (“Bamboo”). Bamboo has no relationship with any of Phyn LLC’s independent contractors. Selection of Phyn, LLC, and/or an independent contractor is solely the decision of the eligible policyholder. Bamboo makes no representations or warranties, express or implied, concerning Phyn, LLC, its independent contractors, Phyn Plus, or any other products or services provided by or on behalf of any of the foregoing. Please speak with your independent agent to learn about Bamboo’s coverage products. Products vary by jurisdiction, terms, and conditions and are provided by Bamboo and its insurer affiliates. Details at https://bambooinsurance.com. **Discount is available only to Bamboo homeowners’ policyholders (HO3, HO5, + E&S) in California.

It’s official, spring is here! And what better season than this one to get some tasks around the home checked off the to-do list? Compiled below are some tasks that not only feel good to get done but could also protect your home against any potential mishaps that result in costly damages. 

  • Change air filters: With spring comes pollen, and for those of us with allergies, having clean, high-efficiency air filters can help trap not only the pollen in the air, but also the dust and airborne particles. On top of that, you’re supporting your HVAC system’s longevity by regularly swapping out those filters (we’re talkin’ every 90 days). 
  • Clean your dryer vent: This may not seem too important, but regularly cleaning out your dyer’s lint filter could prevent clogs that reduce your dryer’s efficiency. Even more serious? Dirty dryer vents are a leading cause of domestic dryer fires, according to the US Fire Administration. (Source: architecturaldigest.com) 
  • Clean those hard-to-reach areas: When was the last time you moved your couch and vacuumed underneath? We thought so. The good news, spring’s a great time do that.  
  • Change batteries: Household items that are battery-operated, like smoke and carbon monoxide detectors, could probably use a new set. Instead of waiting for them to run out of juice, go ahead and swap those batteries out so you’re set for the season. 
  • Check your hoses: And we don’t mean the ones outside. Your washing machine hoses rupturing could create huge problems that cost a whole lot of money. Go ahead and check those to ensure there are no leaks or swelling, and if you’re feeling fancy, swap out any rubber hoses with braided hoses for more durability and longevity. 

Our final tip? Make sure your homeowners insurance policy is exactly what you need. Start your personalized quote right here. 

For this article, we’re taking it from the home maintenance experts and our trusted home warranty partner, Super Home Warranty.

If house slippers have become more of a necessity than a nice-to-have, you might want to think about what’s creating the extra chill (and we don’t mean that in a relaxing way). Before you touch that thermostat, check the gaps around doors and windows to see if you’re losing out on heat because of worn weatherstripping (or lack thereof). The solution? Installing new weatherstripping to keep your home toasty (and your bank account happy). (PSA: Weatherstripping is for the sides and top of doors and swing-out windows. Slide-up windows are pre-sealed.)

According to Super Home Warranty, take the following steps to get your home’s heating back in check:

1. Check for air leaks to find out where you need new weatherstripping. Put your hand over the edge of a door or window. Does it feel colder than the rest of the surface? You should probably weatherstrip there. You can also light a candle or incense stick and place it in front of the space between the door/window and its frame. If you see the flame flicker, you’ve got unwanted air flow.

2. Choose new weatherstripping. You basically have three options, but we’re skipping ultra-expensive compression strips and V-type weatherstripping this time. They’re durable, which is great, but they’re also hard to install correctly. Do yourself a favor and just opt for self-adhesive strips instead. They’re cheaper, come in rolled-up strips and don’t need to be nailed in (read: less damage to your doors and windows). Cons? You’ll need to swap them out after a few years.

3. Measure your frame. Grab your measuring tape and measure the width of the frame where the adhesive strips will go. This is the small ledge where the door or window meets the frame. (It’ll face outward if the door or window swings out and vice versa.) Don’t forget to measure the length too so you know how much weatherstripping to buy.

4. Get new weatherstripping. Head over to your local hardware store with pictures of the doors/windows you’d like to seal — closed is best, with a focus on the space between the doors/windows and their frames. Find weatherstripping that’s roughly as thick as the gap. It doesn’t need to be perfect, but you do need the doors and windows to close.

5. Remove old weatherstripping, especially if it came with the house. Many houses come pre-weatherstripped. If yours came with compression or V-type weatherstripping, use the claw of a hammer to remove the nails. If you’ve got the self-adhesive variety, just peel it away.

6. Cut the new weatherstripping to the length of the frame. Measure the length of the door/window you want to weatherstrip from the top of the frame to the bottom. Give yourself an extra inch so you can really get into those corners and snip, snip, snip.

7. Clean the frame. Grab a paper towel or washcloth, coat it in soapy water and clean the door or window frame. You don’t want any dust preventing the adhesive on the weatherstripping from sticking.

8. Apply the weatherstripping. Peel as you apply so the strip doesn’t get stuck to itself or something else you don’t want it stuck to. Once you’re done with both sides and the top, close the door or window for half an hour to let the adhesive set. Go make yourself a snack. You earned it.

Pro Tip: Want to seal the bottom of your door as well? Grab a door sweep from your local hardware store — these metal sweeps with rubber bottoms attach to the bottom of your door with screws and create a seal between the door and the floor.

Check out Super Home Warranty’s original article here!

Source: Super Home Warranty

Winter temps are coming in [not so] hot. With the cold air comes the potential for ice and snow, and it’s critical for not only the longevity of your home’s life, but for your safety, to make sure your house is ready to take it all on. That’s why we’ve pulled together some tips for you that will have you saying, “Bring it on, winter”. 

Insulation, insulation, and more insulation: The chilly air creeps in and cools down your house (ya know, the opposite of what you want), which then cranks up your heater – ultimately increasing the amount on your monthly heating bill. Having your pipes, attic, and crawl space sufficiently insulated helps to block out cold air and keep your house at the temp you want it without your heater putting in overtime. Hello, potential savings and cozy winter nights.  

Chimney and fireplace: Whether your fireplace runs on wood or gas, have a professional come check it out before you fire it up. According to the Consumer Product Safety Commission (via consumerreports.com), “fireplaces, chimneys, and heating equipment are some of the biggest causes of home fires”. Having a professional inspect yours could potentially help to avoid any mishaps. 

Trees and tree limbs: Mature trees are beautiful. The damage that their dead limbs can cause is not. Have a trusted tree service come out and inspect the surrounding trees for any branches that might not get along well with ice or snow. 

Outdoor water devices: Those spigots and sprinklers sure do come in handy for most of the other seasons, but in winter, there’s the potential for them to cause quite some chaos if not properly drained. Make sure you drain and store any hoses and/or sprinklers, and open outdoor spigots to drain trapped water prior to the first freeze. Contact your local plumber for tips (or help)! 

Homeowners insurance: We’ve got you on this one! If you want to level up on your homeowners coverage, get started today right here. 

Bamboo Insurance, a reimagined insurance organization offering a customer-driven experience through ease and innovation, has been ranked #18 on Insuretech Connect’s Forward50 America’s Report, powered by Sonr. This meticulously curated report takes a deep dive into the insurance industry and its top emergent startups that are leading change. 

According to the ITC Forward50 America’s downloadable report, the report is intended to provide “a unique, data-driven perspective into emerging industry trends, as well as the ability to draw comparisons between the regions.”  

The report continues with describing the ranked 50 companies as being “not just any insurtechs; they are the game-changers, the pioneers, the visionaries who are redefining the insurance landscape for the better. This report highlights the fifty standout insurtech companies that will make a lasting mark on an industry that is, at times, renowned for its tradition and rigidity.” 

Bamboo Insurance continues to see extensive growth in challenging markets, like California, through the continued offering of insurance solutions that are thoughtfully chosen to support homeowners’ intricate needs. In addition to being included on the prestigious ITC Forward50 report, Bamboo has landed on the Inc. 500 list for America’s fastest growing private companies in 2023, has cultivated unique partnerships with bolt and Super Home Warranty, and entered into an agreement with White Mountains. 

You can download and view the full report on either Sonr’s website (click here) or on the ITC Vegas website (click here).  

About the Forward50 America’s Report 

The Forward50: Americas Edition is not merely a celebration of insurtechs; it is a comprehensive guide with the latest insurance innovation trends that are shaping the future of the insurance industry in the western hemisphere. These trends reflect the broader insurance ecosystem’s commitment to adapt, evolve, and improve in the face of changing consumer demands and market dynamics. We also want to pay tribute to those well established insurtech leaders that have paved the way for innovation, proving that lasting success in the insurtech world requires both forward-thinking vision and steadfast commitment. Their stories inspire the next generation of insurtech entrepreneurs, demonstrating that transformation is not only possible but highly rewarding. 

Source: Downloadable report found here. 

Did the responsibility of bringing a side dish somehow manage to land on your plate? Where we’ll never turn down some canned green beans, if you’re looking to bring more to the table (literally) without the extra work and time, we’ve got you. Here are 5 remarkable-sounding recipes that are surprisingly simple to make. 

  • Buttery Garlic Green Beans: If you haven’t guessed it, we like green beans – and they’re an essential for any holiday meal. Here’s your opportunity to still bring the green beans, yet with this recipe, you can bring them with some extra deliciousness.
  • Baked Sweet Potatoes: Need a recipe that’s almost impossible to mess up? This one’s simple to make, with minimal prep, that you can just pop in the oven. (And who doesn’t love some sweet potatoes?)
  • Broccoli Cheese Bake: If you’re wanting to kick things up a notch, this is a good one to take on. Light prep, simple ingredients (some that you might even have already), and a yummy outcome.
  • Air Fryer Caramelized Bananas: This might be leaning more towards a dessert, but it looked too good not to share. This might be the simplest recipe on this list, with the potential to be one of the tastiest.

Another thing we make easy? Getting insurance. Get started today by clicking here.

Bamboo Insurance, a reimagined insurance organization offering a customer-driven experience through ease and innovation, and Super, a leading provider of subscription care for the home, have joined forces to offer eligible homeowners more opportunities for protecting their home.

Bamboo Insurance Agency offers homeowners a unique, high-tech, high-touch experience to people looking for their ideal homeowners insurance. This client-driven approach to providing an unmatched insurance experience involves clients in necessary parts of the process, like assessing their options and choosing the perfect one, while their trusted Advocate takes on the timely, heavy-duty items, like the shopping and binding of the policy – ultimately saving them from the stress of shopping confusing insurance policies and time.

One of the key features that sets Super apart is its focus on creating an “own like a renter” approach for homeowners. Unlike traditional providers, Super offers a comprehensive solution that goes beyond insuring breakdowns. With Super’s powerful technology platform, homeowners can easily coordinate repairs, schedule appointments, and track the progress of their repairs—all through a simple and intuitive app. This end-to-end coordination ensures that homeowners no longer have to bear the burden of managing repairs themselves, saving them time, effort, and stress.  By investing in technology and consolidation, Super is able to deliver superior economics while enhancing service quality, and providing a streamlined, worry-free experience for homeowners.

This exciting homeowner-focused partnership gives clients the opportunity to be proactive in their coverage, so their home can stay their happy place. Get started today at https://bambooinsurance.com/super.

About Super

Super was founded in 2015 with the mission to make caring for a home completely carefree. Powered by a proprietary data platform and backed by leading investors, Super offers subscription-based care for your home, including home warranties and home maintenance. We leverage data and technology to deliver high-quality, fast, and worry-free home repair and maintenance. Learn more at hellosuper.com.

White Mountains Insurance Group, Ltd. (NYSE: WTM) (“White Mountains”) announced today that it has entered into an agreement to acquire a majority stake in Bamboo Ide8 Insurance Services, LLC (“Bamboo”), an MGA focused on the California homeowners insurance market.  White Mountains expects to invest approximately $285 million, including primary capital to support Bamboo’s growth, and to acquire approximately 70% of Bamboo basic shares outstanding.

Bamboo was launched in 2018 by John Chu, a seasoned insurance executive.  Bamboo provides homeowners’ insurance for over 100,000 California policyholders, using its technology-enabled underwriting platform to select and manage risk.  Bamboo has grown profitably and rapidly in the challenging California market, and is now poised to expand into other states.  John and the current Bamboo management team will continue to lead the business through its next phase and will retain a significant equity stake.

“We are pleased to make this investment alongside John and the Bamboo management team.  Bamboo is delivering a much-needed insurance alternative to homeowners in California.  Bamboo has strong momentum, and we look forward to supporting its continued growth,” said Chris Delehanty, Head of M&A of White Mountains.

“This transaction marks a new and exciting chapter for Bamboo.  We are fortunate to have found a like-minded capital partner who shares our vision and has a strong track record of successful insurance partnerships,” said John Chu, Founder and CEO of Bamboo.

The transaction is expected to close in the first quarter of 2024.  The closing is subject to regulatory approvals and other customary closing conditions.  The closing is not subject to a financing condition.  The exact ownership to be acquired by White Mountains, and the resulting amount that will be invested, will be determined based on Bamboo unitholder elections made prior to closing.  For more information, see White Mountains’s Form 8-K filed October 20, 2023.

Howden Tiger Capital Markets & Advisory acted as financial advisor to White Mountains, while Cravath, Swaine & Moore LLP provided legal advice.  Evercore Group, L.L.C. acted as financial advisor to Bamboo and selling equityholders, while Willkie Farr & Gallagher LLP provided legal advice.

HAMILTON, BermudaOct. 20, 2023 /PRNewswire/ — See the full press release here.

About Bamboo

Bamboo is a capital-light, tech- and data-enabled insurance distribution platform providing insurance offerings to the residential property market in California.  Bamboo operates primarily through its full-service MGA business, where the company manages all aspects of the placement process on behalf of its fronting and (re)insurance partners, including product development, marketing, underwriting, policy issuance, and claims oversight, and earns commissions based on the volume and profitability of the insurance that it places.  Bamboo puts underwriting first, leveraging technology and data science tools to select, price and manage risk.  Bamboo also operates two separate but integrated businesses: (i) a retail agency offering ancillary products (e.g., flood, earthquake) on behalf of third parties and (ii) a captive reinsurer participating in a small share of the underwriting risk of Bamboo’s MGA programs.  For more information, visit www.bambooinsurance.com.

About White Mountains

White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange under the symbol WTM and on the Bermuda Stock Exchange under the symbol WTM.BH.  Additional financial information and other items of interest are available at the Company’s web site located at www.whitemountains.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which White Mountains expects or anticipates will or may occur in the future are forward-looking statements. The words “could”, “will”, “believe”, “intend”, “expect”, “anticipate”, “project”, “estimate”, “predict” and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to White Mountains’s:

  • change in book value per share, adjusted book value per share or return on equity;
  • business strategy;
  • financial and operating targets or plans;
  • incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;
  • projections of revenues, income (or loss), earnings (or loss) per share, EBITDA, adjusted EBITDA, dividends, market share or other financial forecasts of White Mountains or its businesses;
  • expansion and growth of its business and operations;
  • expected timing of the transactions; and
  • future capital expenditures.

These statements are based on certain assumptions and analyses made by White Mountains in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to its expectations and predictions is subject to risks and uncertainties that could cause actual results to differ materially from expectations, including:

  • the risks that are described from time to time in White Mountains’s filings with the Securities and Exchange Commission, including but not limited to White Mountains’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022;
  • claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, wildfires, tornadoes, tsunamis, severe winter weather, public health crises, terrorist attacks, war and war-like actions, explosions, infrastructure failures or cyber-attacks;
  • recorded loss reserves subsequently proving to have been inadequate;
  • the market value of White Mountains’s investment in MediaAlpha;
  • the trends and uncertainties from the COVID-19 pandemic, including judicial interpretations on the extent of insurance coverage provided by insurers for COVID-19 pandemic related claims;
  • business opportunities (or lack thereof) that may be presented to it and pursued;
  • actions taken by rating agencies, such as financial strength or credit ratings downgrades or placing ratings on negative watch;
  • the continued availability of capital and financing;
  • deterioration of general economic, market or business conditions, including due to outbreaks of contagious disease (including the COVID-19 pandemic) and corresponding mitigation efforts;
  • competitive forces, including the conduct of other insurers;
  • changes in domestic or foreign laws or regulations, or their interpretation, applicable to White Mountains, its competitors or its customers; and
  • other factors, most of which are beyond White Mountains’s control.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to publicly update any such forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:  Rob Seelig
(603) 640-2212

SOURCE White Mountains Insurance Group, Ltd.

I think we can all agree that we’re very ready for the cooler temps that the fall season will bring. But is your home ready? (And we’re not talking pumpkin decorations.) We mean prepping your house and yard to make sure they’re ready to take on the falling leaves, cooler temperatures, and new things this season brings that could impact them. If you’re not sure, we rounded up a few of the best maintenance tips we found to help you out!

Your house

  • Clearing roof and gutters: Go ahead and clear debris off and away from your roof and gutters. Unfortunately, this isn’t a one-and-done chore. During fall, leaves well…fall…and allowing your roof to get covered and your gutters to get clogged could result in costly damages.
  • Changing your filters: Having fresh air filters will keep your home at the temperature you’re wanting it.
  • Assessing for cracks in and around your house: When water gets into cracks, then freezes, it expands. So not only will your cracks get bigger, so will the cost of fixing them.
  • Checking for drafts inside the home: As the weather gets cooler, feel around for any areas that might be allowing the outdoor air in (like under doors that lead outside, windows, etc.). Getting these gaps addressed before the winter cold will help save on energy (and money).

Your yard

  • Scheduling an aeration treatment: Having your yard aerated will help to restore your grass from having been fried over the hot summer. Hello, green luscious grass for fall!
  • Planting bulbs: Depending on your geographic location, planting flower bulbs in the cooler fall months, like September and October, helps to support stunning blooms come spring and/or summer.

As always, if you’re looking for a little extra protection this season, fill out this form and one of our trusted Bamboo Advocates will reach out and help you find just what you need.