Coastal Flood Insurance

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Do You Live Near the Coast in Massachusetts Buzzards Bay, New Bedford, or Cape Cod?

What You Need to Know about Coastal Flood Insurance

You might find it difficult to find a home insurance policy for your house on the coast because insurance companies are risk averse. When you have a home near Massachusetts, such as Buzzards Bay, New Bedford, or Cape Cod, there is a risk of increased damage to your property from the elements. Extreme winds can lead to more frequent repairs, which increases the cost of home insurance.

If you live too close to the coast, your insurance company might cancel your policy as they move away from that coverage area. Alternatively, they may charge you a separate wind deductible to offset potential repair costs. We work with many reputable insurance companies that will write coastal exposure policies, and we can help you get the coverage you need.

What Is a Wind Deductible?

You may not even realize that you have a separate catastrophe or windstorm deductible listed in your policy. Or maybe your insurance company has recently canceled your homeowner’s insurance because you live too close to the coast. Unfortunately, some insurance companies are canceling or not renewing policies in the coastal areas of Massachusetts. Other companies require high deductibles to cover wind damage.

Our team of insurance agents works with reputable companies that do not require the high wind deductibles. These companies are eager to write policies to cover your home. And the premiums are often much less expensive than MPIUA, Mass Property Insurance (Fair Plan).

Coverage That Protects from Coastal Risks

We have many years of experience in procuring insurance policies for coastal properties. Our team of insurance agents will help you find the coverage you need at an affordable price. We can even package your property insurance with your other insurance policies for greater savings. For example, we can bundle it with your auto, umbrella, boat, and flood insurance policy for greater savings.

We will work with you to insure your new multi-million dollar home or your seasonal or secondary vacation property along the coast. The insurance companies we work with will provide you with a comprehensive policy designed to help meet your specific needs.

Coastal Insurance Deductibles

Every home insurance policy includes a deductible. Coastal insurance policies may include additional deductibles. For example, your standard deductible for covered perils may be $1,000 to $2,500. Your policy may also include a separate deductible for damage caused by wind or hail. This amount is usually a percentage of the coverage on your home, such as 1%, 2%, or as high as 5% of the dwelling amount in coverage A.

If you insure your home for $300,000, and your windstorm deductible is 2%, you would have a $6,000 deductible for wind damage. This deductible applies every time the wind blows and causes damage, whether that’s to your roof or the siding of your home. 

You may also have a hurricane deductible. This deductible applies if your home is hit by a hurricane. You could also have a deductible for named storms, even if the storm is not a hurricane. Even if the hurricane gets downgraded to a storm by the time it hits the coast of Massachusetts, your named storm deductible will apply.

Finally, your homeowner’s insurance doesn’t automatically include flood damage. If you want coverage for flooding, you must purchase a separate flood insurance policy or add a rider to your existing policy. Our team of insurance agents can help you understand the limits of your policy to make sure your most important asset is covered in the case of an adverse event.

FAQs about Coastal Insurance

What Is Coastal Insurance?

Homes in coastal regions are more likely to be damaged by wind, hail, storms, and hurricanes. Therefore, your coastal insurance policy may include additional deductibles and coverage options for your home.

Why Is Coastal Insurance Different?

The risk of damage to your home can be greater for homes at the coast. Insurance companies try to shift the risk toward you, the property owner, by requiring additional and higher deductibles for wind or storm damage.

How Can You Save Money on Coastal Insurance Premiums?

We can help you find a coastal insurance policy that covers your property without increasing your premiums. We work with reputable insurance companies specializing in coastal insurance policies. 

Call for a Coastal Insurance Quote Today

We look forward to serving your coastal insurance needs. Our team works with reputable insurance companies that frequently cover homeowners in the coastal regions of Massachusetts. If your insurance policy was canceled or your policy includes high wind deductibles, reach out to us to get a new quote. Call us at (508) 997-3321