Coastal living offers breathtaking views and a slower lifestyle, but having proper insurance coverage is essential. Hurricanes, storm surges, and flooding can cause devastating damage, and a standard homeowners’ policy often leaves gaps in coverage.
Muller Insurance is an independent agent working with more than 20 leading insurance companies to provide insurance policy options, including coastal property insurance, for residents in states like New York, New Jersey, and more. Here, we discuss shore property insurance as a part of storm preparedness and its importance.
The Unique Risks of Coastal Properties
Living near the waterfront comes with undeniable beauty, but it also requires specialized insurance policies. This is because properties near the shore are exposed to severe weather patterns and environmental challenges that can cause extensive damage. Some key risks of coastal properties include:
- Hurricanes and tropical storms: High winds and heavy rain can tear through roofs, windows, and siding.
- Flooding and storm surge: Rising water levels and floods, which are typically excluded from standard homeowners’ policies, can destroy foundations and interiors.
- Wind-driven rain: Even minor storms can push water into walls and attics, leading to costly repairs.
- Saltwater corrosion: Over time, salty air accelerates wear on structural components and outdoor systems.
These risks are especially important for shore property owners to prepare for, as storms tend to intensify near coastlines. Without tailored insurance and a storm preparation plan, a single storm could result in damage to your property that leads to financial strain.
What Does Coastal Property Insurance Cover?
Most standard homeowners’ policies are designed for inland properties and often exclude or limit coverage for coastal risks. Common exclusions include flooding, storm surges, and wind-driven rain, all events that are frequent and severe in coastal areas. Even when coverage exists, limits may be too low to cover the full cost of repairs or rebuilding.
Therefore, coastal property insurance is recommended. This coverage isn’t just a standard homeowners’ policy with a few add-ons; it’s a completely different approach to protecting homes in high-risk areas. These policies are designed to address the unique challenges of living near the shore. Coastal property insurance often provides:
- Wind and hurricane coverage: These policies include protection against high winds, hail, and hurricane-force storms that can cause severe structural damage to your home.
- Flood and storm surge protection: Coverage extends to flooding caused by heavy rain or storm surge, which are among the most common causes of coastal property loss.
- Higher coverage limits: Coastal homes often have higher property values and custom features, so these policies offer increased limits to ensure full replacement costs are covered.
- Additional living expense coverage: If your home becomes uninhabitable after a storm, specialized policies provide funds for temporary housing and related expenses during repairs.
Why Should Coastal Property Insurance Be a Part of Your Storm Preparedness?
If you own a shore property, pursuing dedicated coastal property insurance is always recommended as a part of your storm preparedness plan. This is because it offers many benefits that help safeguard your waterfront home. They include:
- Peace of mind: Knowing your home is covered against waterfront risks can give you peace of mind and let you focus on the many advantages of coastal living without worrying about the risks.
- Financial protection: With protection against common coastal risks, you will also have financial protection. With adequate coverage, you won’t have to pay completely out of pocket to resolve damage from storms, flooding, or hurricanes.
- Enhanced rebuilding coverage: Standard homeowners’ policies often only pay the actual cash value of a home. Coastal policies may provide an extended or guaranteed replacement cost, which pays for the full rebuilding cost.
What Are Other Ways Coastal Homeowners Can Prepare for Storms?
Along with getting a comprehensive coastal insurance policy, homeowners can take additional steps to prepare their homes for storms. These include:
- Protecting windows and doors with storm shutters or plywood
- Securing or storing outdoor items like patio furniture, grills, and propane tanks
- Trimming trees with dead or weak branches that could fall on your home
- Clearing drainage systems so water can flow away from your home
- Installing a battery-backed sump pump that works during power outages
By combining proactive steps with a complete insurance policy, you can better prepare for storms and their effects on your shore property.
Why Work with an Independent Agent like Muller Insurance?
Protecting a coastal home requires more than a standard homeowners’ policy; it demands specialized coverage. Working with an independent insurance agency like Muller Insurance helps clients find comprehensive, cost-effective solutions. This is because we:
- Compare multiple carriers from our more than 20 partners to secure the best rates and coverage.
- Customize policies to address coastal risks like wind, flood, and storm surge.
- Identify bundling opportunities for home, flood, and auto insurance to maximize savings.
At Muller Insurance, we have been in business for more than 100 years and partner with more than 20 leading insurance companies, such as:
- Travelers Insurance
- Plymouth Rock Insurance
- National General Insurance
- Great Bay Insurance
- Chubb Insurance
- Norfolk & Dedham Insurance
We also represent dedicated flood insurance companies, including Neptune Flood Insurance, Wright Flood Insurance, and Selective Flood Insurance, which can provide excess coverage for waterfront and coastal properties.
Muller Insurance: Your Trusted Coastal Property Insurance Specialists
Ready to protect your coastal property with confidence? Turn to Muller Insurance today for a personalized quote on coastal property insurance. Our professional team will guide you through every step, ensuring your home is covered against wind, flood, and storm surges. Plus, we’ll help you uncover bundling opportunities that save money while providing complete protection. Don’t wait until the next storm; contact us today to learn more about our coastal property insurance policies.
