Coastal Property Insurance

1. Higher Risk for Waterfront Homes

Coastal homes in New York face greater exposure to hurricanes, tropical storms, and wind damage. Because of past storm losses, insurers apply stricter underwriting, higher premiums, and specialized deductibles for coastal properties.

2. Hurricane Deductibles (2%-5%)

Coastal policies typically include hurricane deductibles calculated at 2% to 5% of the home’s insured value.

Example: A $500,000 home with a 5% deductible = $25,000 out of pocket.

3. Windstorm vs. Hurricane Deductibles

• Windstorm deductible: Applies to most wind-related events.

• Hurricane deductible: Applies only when a storm is officially declared a hurricane.

4. Choosing the Right Carrier

Many insurers limit coverage near the water. Working with carriers that specialize in coastal property insurance helps ensure proper protection and structure for waterfront homes.