Saturday, January 20, 2018

The ELS Beach House Blog


Our New Beach Home Insurance Blog

August 15, 2011 General by Administrator

This Blog is for the large special community that loves the Beach and is willing to take the risks associated with owning a home by the water.   Beach Front Homeowners have real problems that require special actions including a strategy to handle storms (Boarding Up, Storm Windows), Winter Water Leaks, Winter Burglaries, Fire Response Issues and the difficulty in finding solid insurance protection at a reasonable cost.

My hope is to provide a venue to talk about problems, solutions and exchange good advice on handling our problems.  And over time establish a list of reliable professionals that can help us manage our homes.  We all need insurance, craftsmanto work on the constant wear and tear on a Beach home, Fire and Security Systems, plumbing issues like shut off valves, finding a reliable Winter Caretakers to look in on our homes and other solid experienced vendors that understand that Beach Homes are not like other inland houses.  Hopefully over time we can find solutions through sharing our experiences.

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Storms May Scare Insurance Companies

November 29, 1999 General by Bill McGinty

A number of insurance companies had record claims losses associated with the tropical storm this summer.  Suffolk County in New York recorded the largest amount of claims.  Insurance companies site the high cost of repairs on Long Island as a major cause of the high claim costs.

The concern is that this will accelerate the exodus of Insurance companies willing to write insurance on long Island and other Beach communities.  As of now, I still have a number of quality insurance companies open to insuring Beach Homes.  At a minimum, Beach House owners shouldn't be surprised if premium charges increase next year.  I am always talking to the insurance companies and will keep everyone updated.  I will pass along anything I hear.

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Beach House Ownership Issues

Beach Homes are special with direct and majestic contact with nature.  Wonderful views, magnificent sunsets, daily changes of weather and an unlimited variety of outdoor activities.  Along with the wonders of the Beach come the challenges of house maintenance and protection issues from exposure to the wind, salt and sea.  An added challenge is purchasing solid insurance protection. 

Most major Insurance companies now decline to insure homes on the water.  There are a few quality "Standard insurance companies" that will still insure water front homes.  There are many more insurance options from what are called "Non-Admitted Excess and Surplus Lines Carriers (E&S)".  These E&S carriers include well known insurers like Lloyds of London, The Lexington, Scottsdale and the Westchester Insurance Group.  In addition, many states provide basic "Property" protection though special insurance programs.  For example, New York provides property insurance to water front properties through the "New York Property Underwriters Insurance Association (NYPIUA)".  These programs fill a real need but also leave larger homeowners with "Protection Gaps".  These programs usually place limitations on the amount of insurance protection.  Homes with replacement values in excess of $600,000 will need to find another insurer or buy additional policy limits for their homes in order to be fully protected.

This site will post valuable information to support the Beach Community including insurance issues and risk management advice to help reduce or eliminate potential damage to your beach homes.   Visit us to see current issues or send us your email and we will send you the latest information on protecting your Beach Homes.

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