Photo by paulaloe

Homeowners in the Bronx had to scramble to find a new insurance carrier this summer when their long-time insurance company dropped them as clients and cancelled their policies. The reason: they are too close to the Long Island Sound. The proximity of the homes to the Sound makes the clients too high of a risk for flood damage for the insurance company in question, reports the NYDailyNews.com.

What the insurance company is worried about are hurricanes that have the potential to wipe-out homes in the Bronx’s coastal areas. Insurance carriers in the state of New York dropped about 4% of their clients, even if the homeowner had never made a claim in the past.

Those who received letters stating a homeowner’s policy was going to non-renew have to find alternative insurance companies to insure their homes and are now being charged higher premiums.

So far, only one insurance company has dropped their clients, but Senator Jeff Klein (D-Bronx) is afraid other carriers will follow suit. He urges residents to let his office know if they receive a non-renewal notice from his or her homeowner’s insurance company.

Homeowner’s insurance policies are frustrating to purchase enough without the headache of having to shop for another one. When attaining insurance for the home, do not forget to consider attaining flood insurance in case the unexpected happens.