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New York, New York Home Insurance

Recently, Allstate Insurance stopped selling new homeowner policies to residents of New York City, Long Island and Westchester due to the increased risk of hurricane. Additional changes that homeowners may have experienced in response to the risk of hurricanes include restricted policies or increases in premiums by 20% to 30%.

While a hurricane could hit the area, the National Oceanic and Atmospheric Administration (NOAA) predicts the odds of a category four or higher hurricane hitting New York City is “once every five hundred years.”

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The Weather Channel, however, named New York as one of the five most hurricane prone cities in America. In response to his, New York is creating preparedness and evacuation plans in the event of natural disaster. The New York State Emergency Management Office and State Disaster Preparedness Commission has a helpful website at http://www.semo.state.ny.us/ – review it to better understand how to prepare for emergencies. Homeowners can protect their property and personal possessions by keeping adequate home insurance coverage.

Additionally, flood insurance should be purchased if you reside in a high risk area. Be aware, however, that flood insurance must be purchased in addition to your homeowners policy because a typical home insurance policy does not provide this type of coverage.

Also, be sure to review your homeowners policy carefully to understand the coverage and any exclusions. Insurance experts recommend that you keep a thorough record of your personal belongings and the value of each item. This is helpful when determining the level of coverage you will need and provides a record of your possessions should anything be destroyed and need to be replaced.

Home Insurance Basics is not an insurer and cannot issue home insurance policies. This site provides free information about home insurance policies and companies. The companies detailed have not endorsed or sponsored these pages. Products and services may not be available in all states.