New York City Business Group
Our mission is to help businesses in NYC manage the costs of Insurance. The New York City Business Group has addressed the insurance needs of businesses and individuals in the Staten Island NY, Brooklyn NY, New York NY, Queens NY, Nassau and Bronx NY for over 10 years.
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         Staten Island NY 10314
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Coastal Property

Last Updated: May 30, 2017

Coastal Homeowners Insurance NYCoastal property owners have special insurance needs that, unfortunately, are no longer being met by the mass market insurance companies. The wake of devastation left by relatively recent hurricanes and the uncertainty surrounding future storms has made underwriting difficult. Therefore, insurers have become more conservative in their offerings, and many have decided to forgo covering homes near the ocean in favor of catering to markets that pose lower risks.

What Is Considered Coastal?

The definition of coastal property varies from one insurance carrier to the next. If your home is a few miles inland, it might still be considered "coastal," and that will be reflected in the premium and deductibles. With a $400,000 home, for example, you might have a 5% wind damage deductible, meaning that you would have to pay $20,000 out of pocket before your insurance kicks in.

How Much Is Homeowners Insurance in Nassau County and Suffolk County?

New York homeowners insurance rates are higher in the Long Island area because of its greater exposure to hurricane risk. Suffolk county homeowners insurance in particular demands large premiums, not only because the land sticks further out into the Atlantic Ocean than that of Nassau County, but also because many of the homes there are valued at over $1 million and would require high insurance payouts for repairs and reconstruction. Due to the aftermath of Hurricane Sandy, many well-known, nationwide insurance carriers have stopped writing policies for newly-purchased homes on Long Island, regardless of whether or not those homes have ever suffered significant damage.

If you've been having trouble finding coastal property insurance, or if your policy has been canceled, then you'll be pleased to know that we can help you get the coverage you need at a reasonable premium without a huge deductible. Even if your current policy is still on the books, you might be distraught over the ever-increasing premiums, despite your not having filed any claims. We have a solution to that problem, too, and it doesn't involve selling your slice of paradise and moving somewhere else.

As independent insurance brokers, we're able to objectively evaluate several plans and find a solution that is best suited to your unique property and location. And, because we specialize in local insurance, we have access to coverage programs that many other companies do not.

Insurance plans with competitive rates are available for many types of coastal properties, including:

  • Single-family homes
  • Businesses
  • Condominium Associations
  • Rental properties
  • Hotels and motels
  • Condo units

We serve clients on Long Island, as well as in the surrounding communities:

  • Babylon
  • Brookhaven
  • Brooklyn
  • East Hampton
  • Fire Island
  • Glen Cove
  • Hempstead
  • Huntington
  • Islip
  • Long Beach
  • Manhattan
  • North Hempstead
  • Oyster Bay
  • Queens
  • Riverhead
  • Shelter Island
  • Smithtown
  • Southampton
  • Southold
  • Staten Island
  • The Bronx

Feel free to give us a call at (718) 554-3425 or fill out the quote request form for a no-obligation estimate on NY coastal homeowners insurance. If you're already insured, we can review your policy to see where you might be overpaying for coverage, and then we'll try to find you a comparable policy with a lower premium.