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Old 04-17-2013, 03:29 PM
 
14 posts, read 26,390 times
Reputation: 11

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We are purchasing a home in Hampton roads and are unable to get insurance coverage through standard insurers due to the wind risk. We have received similar quotes from multiple surplus lines companies but I can't find much information about them online as far as reviews.

Anyone use any of these companies and if so have they treated you fairly? Any issues with any of them?:
North Light Specialty Insurance
Allrisks (BBB rates an A+)
Johnson & Johnson
Coastal Agents Alliance (BBB rates an A+)

Thanks for any information you can provide!!
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Old 04-17-2013, 06:28 PM
 
6,110 posts, read 9,391,849 times
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You're the first person I've ever heard of not being able to get homeowners insurance coverage through a 'standard" company. We have USAA, but I know people with State Farm, Farmers, Allstate, and Nationwide. Where exactly do you live? Most people need flood insurance, but I've never heard anything about wind issues.
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Old 04-17-2013, 06:42 PM
 
14 posts, read 26,390 times
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It is strange! Ironically the property is not in a flood zone and flood insurance is only $10 a month!! I contacted all the companies you listed and was told the same thing. The property is within 2400 feet of the coast and therefore it is a high wind risk property. We have our current insurance with USAA, I hate to switch companies but alas....the price you pay to live closer to the ocean.
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Old 04-19-2013, 04:20 AM
 
Location: Roanoke, VA
1,812 posts, read 3,767,728 times
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This is on the Surplus Line Ass'n of Illinois website, but I found in helpful in understanding a "surplus line" of insurance.

FAQ: What is Surplus Line Insurance?

This is the regulatory webpage for the Virginia State Corporation Commission regarding surplus line brokers:

Virginia SCC - Bureau of Insurance

I suspect you can find court opinions detailing abusive, bad faith conduct involving most insurance companies with respect to their insureds/customers. My observation is that these cases often boil down to the individuals employed by the insurance company. If you get a bad adjuster or other insurance company employee involved in your claim, no matter how good the company's reputation is, you're screwed and in for a battle over your claim.

Good luck getting insurance.
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Old 04-19-2013, 05:15 AM
 
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Thank you for the information!!
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Old 04-19-2013, 12:38 PM
 
Location: Where my bills arrive
13,477 posts, read 12,613,042 times
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Quote:
Originally Posted by Spazkat9696 View Post
You're the first person I've ever heard of not being able to get homeowners insurance coverage through a 'standard" company. We have USAA, but I know people with State Farm, Farmers, Allstate, and Nationwide. Where exactly do you live? Most people need flood insurance, but I've never heard anything about wind issues.
Maybe this is an industry change since Sandy's Winds were the cause of most of the damages. I would think the OP's realtor could give clarification on this.
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Old 04-20-2013, 05:16 AM
 
Location: Roanoke, VA
1,812 posts, read 3,767,728 times
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VA Yankee, I think you are correct. If you do a Google search on surplus lines + Hurricane Sandy, you'll come up with many articles on the insurance industry.
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Old 09-23-2013, 08:57 AM
 
15 posts, read 28,365 times
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It looks like we are running into this same issue as the OP.

Trying to get insurance on a home that is a brick rancher in a neighborhood that is approx. 1500' off the Chesapeake Bay.

So far State Farm said no and Progressive said no (online). Next shot is Nationwide. It's pretty silly if you ask me. The home isn't in a flood zone and it's on the highest elevation of the entire city... guess the wind is the big issue.
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Old 09-23-2013, 12:42 PM
 
14 posts, read 26,390 times
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Hybrid AWD we ended up finding a policy. We actually got a list of companies from our mortgage company and decided to go with a policy given to us by Prosper Insurance Group on Central Park Ave in VA Beach. The contact is Ashley Latimer at 757.248.5973 if you are interested. She came highly recommended and she was really helpful! Good luck!
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Old 09-23-2013, 04:20 PM
 
6,110 posts, read 9,391,849 times
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Quote:
Originally Posted by Hybrid AWD View Post
It looks like we are running into this same issue as the OP.

Trying to get insurance on a home that is a brick rancher in a neighborhood that is approx. 1500' off the Chesapeake Bay.

So far State Farm said no and Progressive said no (online). Next shot is Nationwide. It's pretty silly if you ask me. The home isn't in a flood zone and it's on the highest elevation of the entire city... guess the wind is the big issue.
How is this possible if it is within 1500 feet of the coast? Where is it? What's the elevation?
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