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SurferChick
LIF Infant
Member since 10/11 114 total posts
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Flood Insurance-New Policy
I am looking to buy a home in Seaford. The home is labeled, for insurance purposes, in the "Sandy Storm Surge Zone." I called my friend who works for Allstate and they are not able to write a policy because of this. Does anyone know if this is something I will have an issue with? Are new policies not being written? We cant risk not having flood insurance.
TIA!
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Posted 5/15/13 12:49 PM  |
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GioiaMia
Let's Go Rangers!
Member since 1/07 14818 total posts
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Flood Insurance-New Policy
I am in a Sandy storm surge area and was able to get Federal flood insurance for a reasonable rate (for now). They have to accept you. I called my agent and they were able to get it for me.
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| Posted 5/15/13 1:04 PM |
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LBBCHGRL
LIF Infant
Member since 1/08 199 total posts
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Re: Flood Insurance-New Policy
Google the Biggert Waters Act. Your flood insurance will be dependent on how high your your home is above sea level. The rates go from $450 - $9500. There are insurance companies that are writing flood policies but you just have to find them.
I live in Long Beach and have Allstate. So far I still have my flood and homeowners with them. I have been with Allstate since 2004. I could probably get cheaper insurance elsewhere but I don't really want to rock the boat.
Good luck with finding your insurance. I think it will be challenging to find the right policy right now with all the rules changing. My suggestion is to go to an agent who is in a flooded area as he/she is probably up to date with the changes.
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| Posted 5/15/13 1:06 PM |
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Re: Flood Insurance-New Policy
Posted by SurferChick
I am looking to buy a home in Seaford. The home is labeled, for insurance purposes, in the "Sandy Storm Surge Zone." I called my friend who works for Allstate and they are not able to write a policy because of this. Does anyone know if this is something I will have an issue with? Are new policies not being written? We cant risk not having flood insurance.
TIA!
A lot of insurance companies aren't writing new policies for houses south of Merrick Rd., and this was true even before Sandy, but more so now. My parents live south of Merrick in Seaford (flooded in the storm) and were dropped by State Farm for this reason a couple of years ago.
I think one of the only companies writing new policies after Sandy for homes in the flood zone is Narragansett Bay. My parents have Occidental NY Casualty & Fire (I believe they are affiliated with Geico). I don't know if they are writing new policies now, but I know my parents don't pay much more in homeowners than I pay in N. Bellmore.
An insurance broker could help with this, too. I have a former client who is in personal lines/homeowners as a broker, and if you want her contact info, just let me know! (I have referred others to her succesfully.)
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| Posted 5/15/13 1:14 PM |
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Re: Flood Insurance-New Policy
My ILs and DH's aunt live in Seaford both South of Merrick. DH's aunt flooded.
I will ask both of them who insures them.
I think it is one of the places Christine mentioned, from what I recall.
We are South of Montauk, a few towns East of them, and flooded, and State Farm still insured us post-Sandy. I don't think we are considered part of the storm surge zone. Yet.
Also make sure you ask about deductible.
DH's aunt has an insane deductible, like $25K that we are all questioning. Everyone else is like $1K.
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| Posted 5/16/13 5:57 AM |
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Flood Insurance-New Policy
Flood Insurace can not be denied, maybe Allstate isn't writing in your area. I have carriers that write on the water, and I do flood. Please PM me if you need help obtaining insurance.
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| Posted 5/16/13 7:16 AM |
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SurferChick
LIF Infant
Member since 10/11 114 total posts
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Flood Insurance-New Policy
Thank you all. Just waiting to hear word if your bid was accepted...
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| Posted 5/16/13 10:19 AM |
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