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Old 10-16-2007, 06:50 AM
 
Location: Cape Carteret, NC
713 posts, read 3,471,718 times
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While lots of people worry about hurricanes when moving to our coastal regions, this article on the NY Times about insurance cancellations in northern coastal states discusses the impact on places where there have been no storms.

The article, Home Insurers Canceling in East, has this to say.

Quote:
Companies including Allstate, State Farm and Liberty Mutual have “nonrenewed” policies not only in hurricane-battered places like Florida and Louisiana, but in New York and other Northern states that have not seen hurricanes in years. Since last year, those three companies and others have turned down all new homeowners’ insurance business in New Jersey, Connecticut, Rhode Island, Maryland, Massachusetts and the eight downstate counties of New York.

An independent insurance agents’ group puts the Grays among about 50,000 residents of the New York metropolitan area — and about one million homeowners in the Mid-Atlantic and New England states — whose policies have been canceled since 2004.
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It is certainly an issue worth watching here on the Southern Outer Banks.

-David Sobotta
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