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[[Fema Flood Insurance Rate Map ]]
We received another email regarding an insurance company dropping a Gerritsen Beach resident.
Coming in via E-Mail:
I just got a notice from Allstate Insurance stating they will not be renewing my homeowners insurance when it is up in April. They claim that they are dropping all Gerritsen Beach customers when their next renewals are up. Allstate feels that since we are in a “coastal” area, we are a risk and they have to limit their risks. I am really angry. I have paid them for 9 years and now they are leaving me in the lurch. Made two calls today one quote was $800 more and the other $500. This is an outrage. I have been told that we have no recourse since the insurance company can drop with 45-90 days notice. If anyone has Allstate, start shopping!
Just in case you didn’t know we live in a flood zone. Being prepared for a flood might be the the most important thing we have to worry about. Things like having a “go bag”, batteries, canned food, cash, medicine, but you should be also adding home flood insurance to your list.
Now we all know that Allstate and other agencies has been dropping area residents like we have the plague, but it is still possible to get flood insurance.
Check out this list of insurers from FloodSmart.gov. Make sure you also go through that site with a fine tooth comb. It has lots of very relevant information.
Here is the High Risk Coastal Premium Table for a Residential Coastal Area
| Building & Contents | Building Only | Contents Only | |||
|---|---|---|---|---|---|
| Coverage | Annual Premium | Coverage | Annual Premium | Coverage | Annual Premium |
| $35,000/10,000 | $621 | $35,000 | $486 | $10,000 | $171 |
| 50,000/15,000 | 852 | 50,000 | 650 | 15,000 | 242 |
| 75,000/20,000 | 1,250 | 75,000 | 980 | 20,000 | 313 |
| 100,000/30,000 | 1,807 | 100,000 | 1,310 | 30,000 | 550 |
| 125,000/40,000 | 2,363 | 125,000 | 1,640 | 40,000 | 787 |
| 150,000/50,000 | 2,920 | 150,000 | 1,970 | 50,000 | 1,024 |
| 250,000/100,000 | 5,358 | 250,000 | 3,275 | 100,000 | 2,208 |
- Insure the full value of your home.
- Remember to separately insure the contents of your home;
- When filing a claim, don’t sign any documents that you don’t understand.
Consider yourself lucky if you never need to use your insurance; or, as the Today Show put it: “Purchasing flood insurance can be a roll of the dice, but it may just be worth investigating.”
I went with State Farm, this happened to me 2 years ago.
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ALLSTATE IS NOT DROPPING EVERYONE IN GERRITSEN BEACH. that is not true. besides allstate would never tell a policy holder that information anyway.
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You are a fool.
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They dropped a friend of mine who moved to Staten Island from Bay Ridge citing the same reason.
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I just want to clarify things for the readers of this website and Gerrittsen Beach residents. NOT ALL ALLSTATE POLICIES are being non-renewed and Allstate is not a sole insurance company looking to blindside policy holders. Certain policies are being non-renewed all across NYS due to liabilities. Specifically- distance to water, tenure(if a policy has existed for a “grad-
fathered-in” period of time) as well as if a home is constructed of frame. Unfortunately one or more of those liabilities groups your home to be non-renewed. Almost every household name insurance company you can think of is dealing with protecting there losses with non-renewing liabilities they just cannot recover from. The concept of Insurance is to make things whole again, to make new what was destroyed- just like the Con Ed increases, un-employment increases, surrounding industries and departments are also being affected. They CAN’T insure what they CANNOT fiscally come back from. I know it is frustrating to have your Homeowner Policy Non-Renewed- Just as frustrating as it is to Insurance Agents who have not been able to write and provide policies for over three years now. The attempt was to first not take on more liability with new Homes- unfortunately now the only resource is to cut existing possible liabilities. If you have Allstate and are concerned about the status of your policy- call your agent.
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I seem to remember an article about 2 years ago saying allstate was looking to pull out of NY. They were not opening a new accounts.
Doesn’t anyone read a paper once in awhile. this is not new news.
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Allstate did this to me about a year and a half ago, got a form letter alluding to everything listed above, the frame, non-grandfathered flood risk as well as a specific reference to Hurricane Katrina.
I was PISSED at the time, but after searching frantically for new insurance Statefarm has more than stepped up to the plate; better, more comprehensive coverage at a BETTER price!!! Take that you sc#**%gs!!
Seems I was not the only one so PO’d because within the past year I received a class ation lawsuit letter informing me of the option to renew with allstate if i desired, seems the courts agree that allstate did not act in good faith, they’re a friggin insurance company for chrissakes, what would be the point of their existance if they didn’t help out in emergencies, the money we pay them is not a lifetime loan to their executives but an emergency helper for US!! Man I hate the scams of the financial world! From soup to nuts all paper pushers add nothing of value to society!!!
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You sound like an agent. Defensive!
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You sound like an agent, defensive
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an agent? defensive? did you read my post? what are you saying here?
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My families homeowners insurance got dropped by Allstate for the exact same reason. Thats complete BS .
We have never once put in a claim for anything ever. And our insurance is always paid on time but just because we might eventually hae a flood Allstate thinks, Oh Shit we better get rid of these clients they might actually want something for all this money they are paying us.
I Call Shenanigans!!!
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My homeowners with Allstate was also dropped for the same reason. Since they dropped me, I dropped them. I cancelled by business liability insurance and life insurance policies I had with them and moved the whole bit to State Farm. I have not had a bit of trouble with them and rates are comparable. I used the office on Flatbush between P and Quentin right next to where Greenfields used to be. Thay are very nice there.
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Has anyone gone to the new insurance company up by channel avenue?
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Not sure if its open yet
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The Same has happend to me, I say put in a claim for what ever reason you can, cancel the policy and sing with someone else, the govt will be giving them some bailout money any day, as will you. 15 years not one claim. Put all the money you would send them in a jar each month at the end of the year put that money in a CD account, when your house does flood you will be able to rebuild the next day rather that whaiting for the red tape . I read an article that said 72% of premiums paid to insurance companys go to the board of directors, Jets, fancy dinners, golf outings, whatever. They should all live a day in our lives.
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They dropped us right after katrina,maybe 6 months later and for exactly that reason.State farm picked us up.
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I guess in the long wrong, they only insure what they are able to pay. Its better than insuring all the properties and coming out short in the end. I would much rather have to find a new insurer than get shorted in the end.
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State Farm is a reputable Company and it’s great that they have been picking up non-renewals- heads up they already started non-renewing policies in Sheepshead Bay. (TOO CLOSE TO THE WATER.)
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After my my brother-in-law’s home owner’s policy was dropped by Allstate a few years back(he lives in the beach) I called my Allstate agent and inquired about the chances of me being dropped, living only a few houses away. He stated that Allstate has a policy that they call the 90 year criteria. If the number of years you insured your house with Allstate and your age add up to 90, they will not drop you. I hope this alleviate some fears that the senior residents have.
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GET READY…..this happened to me several years ago. We went with Nationwide after a search. They gave me a great price. I brought this up at a homeowners meeting (we one of the first cancelled). I was also in touch with Golden’s office; after a long period of time Allstate contacted me since they had a class actions suit filed against them. They offered to reinstate my policy!!! Hah, some joke……the premiums were higher than what I am paying now. I have been very happy with nationwide…..so try them out!
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nationwide is on your side!
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After the 100 year storm, ALLstate started dropping people. This has been going on more every year even more since Katrina. I have a great Insurance Broker that had his office in Sheepshead Bay for many years and has since moved to Long Island. He gets everyone insurance. His name is John Ferris of Ferris insurance. His phone # is ###-###-####. He got me Tower insurance with no problem and also flood insurance and has helped many people get affordable insurance in the water areas.
Edit by GBnet: Sorry no phone numbers
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I have heard that there are streams running under some of our houses. I was wondering if that is true,
and also if anyone knows if there is a map or some information on where those streams are exactly located,
and how I can get that information. I suspect that there may be one under my basement but I am not sure.
Thanks
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its the water shelf This is why some people have crawl spaces & some have basements & some or most have gone up to “finish” the basement instead of going down. Alos how a lot of people in the 60′s during a water shortage dug wells.
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I use John Ferris also and he is wonderful! Great recommondation!
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My sister and I live in Marine Park and we were both dropped by Allstate. We went with Liberty Mutual at a much better price.
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