NYT reports that insurance companies are convinced that a hurricane is going to hit the Northeast. A Katrina level one. They’re systematically denying all new home insurance policies. Also, they’re canceling policies for long-standing clients. Well not exactly canceling, per se, nonrenewed. When the policy expires, people are getting letters informing their policy has been nonrenewed. Sounds so much nicer that way. People have been able to get insurance with other companies, both major and smaller, but the rates and deductibles are higher, even though the water and wind still has yet to be.
Fear Of Northeast Katrina Guts Region's Home Insurance Coverage
By consumerist.com October 18, 2007
More From Consumerist
- Lyft Passenger Killed In Multi-Car Crash: Whose Insurance Covers What?
- There’s Some Weird Stuff In Your Homeowner’s Insurance Policy
- Walmart Worker Suing Retailer Claiming Its Previous Benefits Policy Discriminated Against Same-Sex Couples
- GEICO Accused Of Discriminating Against Unmarried & Low-Income Drivers
- IKEA: Where You Can Buy A Bookcase And Now Insurance