So when does the hurricane get here?
Yesterday, I got a letter from my home insurer, USAA, that it was increasing my hurricane damage deductible from $1000 to $8600. This falls in the wake of companies like Allstate actually canceling the insurance policies of many homeowners in the NYC area — I believe, anyone within one mile of the shore line. Anyone…
Yesterday, I got a letter from my home insurer, USAA, that it was increasing my hurricane damage deductible from $1000 to $8600. This falls in the wake of companies like Allstate actually canceling the insurance policies of many homeowners in the NYC area — I believe, anyone within one mile of the shore line.
Anyone else seeing this with their insurers?
This is a response to pending climate change. Many climatologists are predicting very severe weather in upcoming years in the 5 boros, with hurricanes and attendant flooding becoming predictable, yearly events.
Long Island is a terminal moraine, Brooklyn has a ridge of high ground along its middle that is not flood or hurricane prone. But I can see insurance companies not wanting to take on the risk of neighborhoods like Greenpoint or Bay Ridge.
Not that it’s fair… I’m just saying that there is considerable data behind this.
this is happening all over brooklyn. i think many companies are just cancelling brooklyn policies period, or not renewing. then, when a new company is found who will insure, they triple the rates. our house is nowhere near any problem hurricane areas according to NYC maps, not even class 5, and we have a timber-framed house which makes the problem even worse because many companies will not insure our house. it’s a crime but these companies are getting away with it.
Yes. Allstate, just canceled my homeowner policy in Stuyvesant Heights. They said I’m in a flood zone.
State Farm is picking up the policy with more coverage at a lower premium. It should be a crime. I’ve paid the policy to AllState for 6 years and never had a claim.
Yes. Allstate, just canceled my homeowner policy on in Stuyvesant Heights. They said I’m in a flood zone.
State Farm is picking up the policy with more coverage at a lower premium. It should be a crime. I’ve paid the policy to AllState for 6 years and never had a claim.
I’m in Bay Ridge. According to the Nat’l Center for Disaster Preparedness elevation map, my house is over 70 feet above sea level and near the top of a hill so it’s not a flood plain issue unless they’re considering a 75-foot storm surge off the Narrows.
Trees, yes. A neighbor ignorantly planted poplars as a privacy hedge which are well over sixty feet tall now. Among all their other annoying virtues (super fast growth, year-round shedding, sending out runners, attracting termites) I’m told that poplars tend to topple in hurricanes because of weak roots.
Find out if you are also technically in a “flood plain.” You wwill need additional flood insurance as well. What happens is the damage done by a hurricane is oftentimes reclassified as “flood”
You don’t need to carry flood insurance for the value of the property (it’s VERY expensive) but just up to the amount of damage that you may be claiming due to water damage. That said, if the deductible has been raised to $8,600, the amaount of water damage will probably be less than that…
Don’t know what your home is..would the water damage be limited to anything kept in the basement?
The real wind damage could come from a roof that tears off or damage from a falling tree.