Island Camp Homeowners Insurance?

uschisk · 06-04-2013, 01:10 PM

Hello -

Our island insurance bill this year increased by 50%, so I am looking around for other options. I contacted Allstate, which has our home/umbrella policy/cars, etc and they say they are unable to insure the island home.

I'm wondering what all the other islanders are doing? Any recommendations? Anyone else see a crazy increase like that?

Thank you!

Slickcraft · 06-04-2013, 01:19 PM

We got it through Wainwright Insurance Services in Alton, part of the Cross group of agencies. Reasonable rates so far.

http://www.crossagency.com/index.cfm/cdid/10666

AC2717 · 06-04-2013, 01:45 PM

check out an independant agent that has Vermont Mutual, or Pheonix Mutual

Diana · 06-04-2013, 02:36 PM

Melcher and Prescott in Laconia, I think they hooked us up with our Vermont Mutual policy.

MAXUM · 06-04-2013, 06:46 PM

I have State Farm.

ishoot308 · 06-04-2013, 07:25 PM

State Farm here also and they have been great. We have an umbrella policy with them as well.

Dan

codeman671 · 06-04-2013, 07:53 PM

We use Portsmouth Atlantic insurance. I believe the carrier is Hanover.

I have used Farm Family in Concord as well.

kauriel · 06-04-2013, 10:06 PM

Do any of these companies also operate in MA? I would love to find a single insurance company for our home & vehicles in MA as well as our condo in NH.

Dave M · 06-05-2013, 07:09 AM

Metropolitan & Liberty Mutual in MA covers NH.

Dave M

Winnisquamguy · 06-05-2013, 07:41 AM

We just dropped Progressive and went with State Farm in Lacoinia Mike Testa

Barney Bear · 06-05-2013, 02:34 PM

We have been insured by Vermont Mutual since 1968. Obtained our policy through Melcher and Prescott in Laconia.

SteveA · 06-08-2013, 05:47 AM

Quote:

Originally Posted by uschisk

Hello -

Our island insurance bill this year increased by 50%, so I am looking around for other options. I contacted Allstate, which has our home/umbrella policy/cars, etc and they say they are unable to insure the island home.

I'm wondering what all the other islanders are doing? Any recommendations? Anyone else see a crazy increase like that?

Thank you!

Talk to Tom at Allstate in Gilford, I think they do island homes, unless something has changed. Great guy, has had all of our cars and boat and both our house and cottage.

603-293-0155

Little Bear · 06-08-2013, 06:24 AM

Quote:

Originally Posted by kauriel

Do any of these companies also operate in MA? I would love to find a single insurance company for our home & vehicles in MA as well as our condo in NH.

Contact Metropolitan and inquire about their Grand Protect product. I have all of my properties (including island) cars, boats and excess liability under one policy. It saves a ton of money. Good luck.

jazzman · 06-09-2013, 05:29 AM

I too had a lot of problems finding insurance for my island home. I ended up with Concord Group Insurance. They wanted my main house and cars as well to do business and I ended up with great rates on everything.

Avery Insurance in Wolfeboro represents them (as well as many other independent insurance agents).

Oddly, I'd had Metropolitan for 20+ years and they wouldn't even talk to me about it.

codeman671 · 07-12-2013, 01:22 PM

I just got my renewal from Hanover, my rate has doubled this year. They are claiming that they had island properties rated in the same risk category as mainland homes and when they found the error it doubled the rate. I went from $523 to just over $1k based on a $399k replacement value and $2500 deductible.

What are others paying?

ishoot308 · 07-12-2013, 05:34 PM

Quote:

Originally Posted by codeman671

I just got my renewal from Hanover, my rate has doubled this year. They are claiming that they had island properties rated in the same risk category as mainland homes and when they found the error it doubled the rate. I went from $523 to just over $1k based on a $399k replacement value and $2500 deductible.

What are others paying?

That sounds right in line with what we are paying. I know ours is just around $1000.00 for full replacement value. I think your quote is O.K.

Dan

AC2717 · 07-15-2013, 07:58 AM

unfortuntley:
we all in the Northeast Region have been lucky the past couple of years with extremely reduced rates, but since the country has taken a beating in the insurance world across the country, they are adjusting rates and increasing them. But it is actually more in line with where they should be originally. When you look at it, all though we all love cheap priced insurance for quality coverage just like everything else, when the fun (great prices) end, we look at it and say wow now I am getting screwed. The market is correcting itself. $1,000 for a island camp which more than likely will be a total loss in the event of a fire, snow damage, does not seem like much, now go 30 years without something happening and that is $30,000 in insurance. but at the same token, if it burns down in the 30th year then you paid $30,000 in insurace for them to give you up to $397,500 or a payout if you are liabile for anything you might do on or off your property or if someone gets hurt on your property and that is with a dock, swim area, no immediate medical care while on the island

Tough pill to swallow but being in the business this is what is trending. you might be able to get a close price for the next year or two, but will all eventually been within 15% of each others pricing real soon

Bodhi · 08-07-2013, 10:14 AM

WE are being dropped by Phenix- our carrier doesn't work with them- got quote from Foremost Insurance through USAA- log cabin is tough plus not having year round access to fire dept- quote is $2854 $500 deduct $2723 for $1000 deduct- coverage for 246,000 plus 24,600 for outbuildings- sounds VERY high
more than double what Phenix was-

codeman671 · 11-26-2013, 04:58 PM

Resurrecting an older thread...

I am trying to help someone one on island insurance. He is looking for a company that insures log homes, on an island, but does not require you to package all properties into one policy.

We use Hanover for ours but they require a package deal. Anyone out there using a separate provider for their island property than their main home? And anyone in the log home situation as well?

Bear Islander · 11-26-2013, 07:25 PM

My island home is insured by Lloyds of London through DeCotis Insurance in Braintree, MA. $1,303 premium plus inspection for 450k of coverage.

They had a simple one page application that I just checked. No question or mention of Log Homes. No other insurance required.

I hope this works for you.

Blue Thunder · 11-27-2013, 06:54 AM

Quote:

Originally Posted by codeman671

Resurrecting an older thread...

I am trying to help someone one on island insurance. He is looking for a company that insures log homes, on an island, but does not require you to package all properties into one policy.

We use Hanover for ours but they require a package deal. Anyone out there using a separate provider for their island property than their main home? And anyone in the log home situation as well?

Codeman,
Did you end up staying with Hanover? You were considering a change earlier in this thread due to a significant increase in premium.

BT

whalebackpoint'r · 11-27-2013, 06:57 AM

York Ins. Co, through Cross Agency

MAXUM · 11-27-2013, 08:36 AM

OK I get the whole island thing far as insurance goes... but what's the deal with log cabins? Sure the construction is a little different but why would an insurance company not like them any more than a timber framed, or something built with SIPS (structural insulated panels)?

Still with State Farm and very happy with them. Coverage is a little more expensive but I can understand that, after much discussion with my agent as we were writing up the binder for it, he basically said this is high risk/catestrophic coverage. They just assume that if the place ever goes up in flames it's a total loss. IF there are any damage claims they are figuring on 2-3 times the cost to repair. Thankfully I just have a simple little camp so teh cost isn't to bad. The insurance bills on some of the nicer island "homes" must be pretty significant.

codeman671 · 11-27-2013, 08:47 AM

Quote:

Originally Posted by Blue Thunder

Codeman,
Did you end up staying with Hanover? You were considering a change earlier in this thread due to a significant increase in premium.

BT

Yes, I am still with Hanover. We had an insurance claim this year due to a failed window that caused some water damage, so we figured that we would stay with them and revisit after the claim was over. Honestly they were great to deal with, paid everything asked for and did not fight at all on the claim so I am very pleased with them in the end.

The question was actually being posed for someone else, a buyer for our home. He doesn't want to combine policies with his primary for some reason unbeknownst to me.

Blue Thunder · 11-27-2013, 11:16 AM

Quote:

Originally Posted by codeman671

Yes, I am still with Hanover. We had an insurance claim this year due to a failed window that caused some water damage, so we figured that we would stay with them and revisit after the claim was over. Honestly they were great to deal with, paid everything asked for and did not fight at all on the claim so I am very pleased with them in the end.

The question was actually being posed for someone else, a buyer for our home. He doesn't want to combine policies with his primary for some reason unbeknownst to me.

Yeah, got that but I was going back to your OP about Hanover increasing your premium and what was the reason. The exact same thing happened to many of my fellow islanders over on Sebago this past season. In some cases the premium doubled for no reason and they had to look elsewhere.

codeman671 · 11-27-2013, 01:03 PM

Quote:

Originally Posted by Blue Thunder

Yeah, got that but I was going back to your OP about Hanover increasing your premium and what was the reason. The exact same thing happened to many of my fellow islanders over on Sebago this past season. In some cases the premium doubled for no reason and they had to look elsewhere.

They indicated that they had it rated wrong. They had it rated as a mainland property which would be easier to insure due to availability of public services such as fire and police. Typically if an island property catches fire, by the time the fire department arrives they better bring marshmallows instead of hoses.

Plumberswife · 11-28-2013, 10:06 PM

We have Chalmers for an agent and Vermont Mutual for our carrier. They're wonderful

06-04-2013, 01:10 PM	#1
uschisk Senior Member Join Date: Jul 2008 Location: NH and Mark Island Posts: 63 Thanks: 36 Thanked 11 Times in 10 Posts	Island Camp Homeowners Insurance? Hello - Our island insurance bill this year increased by 50%, so I am looking around for other options. I contacted Allstate, which has our home/umbrella policy/cars, etc and they say they are unable to insure the island home. I'm wondering what all the other islanders are doing? Any recommendations? Anyone else see a crazy increase like that? Thank you!

06-04-2013, 01:19 PM	#2
Slickcraft Senior Member Join Date: Mar 2008 Location: Welch Island and The Taylor Community Posts: 3,289 Thanks: 1,220 Thanked 2,062 Times in 947 Posts	The Concord Group We got it through Wainwright Insurance Services in Alton, part of the Cross group of agencies. Reasonable rates so far. http://www.crossagency.com/index.cfm/cdid/10666

06-04-2013, 01:45 PM	#3
AC2717 Senior Member Join Date: Apr 2007 Location: Maynard, MA & Paugus Bay Posts: 2,567 Thanks: 753 Thanked 353 Times in 265 Posts	check out an independant agent that has Vermont Mutual, or Pheonix Mutual __________________ Capt. of the "No Worries"

06-04-2013, 07:25 PM	#6
ishoot308 Senior Member Join Date: Feb 2008 Location: Gilford, NH / Welch Island Posts: 6,223 Thanks: 2,381 Thanked 5,266 Times in 2,046 Posts	State Farm State Farm here also and they have been great. We have an umbrella policy with them as well. Dan __________________ It's Always Sunny On Welch Island!!

06-05-2013, 07:09 AM	#9
Dave M Senior Member Join Date: Jul 2007 Posts: 395 Thanks: 4 Thanked 26 Times in 24 Posts	Options Metropolitan & Liberty Mutual in MA covers NH. Dave M

06-04-2013, 02:36 PM	#4
Diana Senior Member Join Date: Aug 2004 Posts: 65 Thanks: 343 Thanked 15 Times in 13 Posts	Melcher and Prescott in Laconia, I think they hooked us up with our Vermont Mutual policy.

06-04-2013, 06:46 PM	#5
MAXUM Senior Member Join Date: Apr 2004 Location: Kuna ID Posts: 2,755 Thanks: 246 Thanked 1,942 Times in 802 Posts	I have State Farm.

06-04-2013, 07:53 PM	#7
codeman671 Senior Member Join Date: Jan 2005 Posts: 3,476 Thanks: 221 Thanked 809 Times in 485 Posts	We use Portsmouth Atlantic insurance. I believe the carrier is Hanover. I have used Farm Family in Concord as well.

06-04-2013, 10:06 PM	#8
kauriel Senior Member Join Date: Jul 2010 Location: Laconia, N. MA Posts: 290 Thanks: 119 Thanked 62 Times in 44 Posts	Do any of these companies also operate in MA? I would love to find a single insurance company for our home & vehicles in MA as well as our condo in NH.

The Following User Says Thank You to Dave M For This Useful Post:
kauriel (06-08-2013)

06-05-2013, 07:41 AM	#10
Winnisquamguy Senior Member Join Date: Dec 2010 Location: Winnisquam, NH Posts: 613 Thanks: 419 Thanked 163 Times in 115 Posts	We just dropped Progressive and went with State Farm in Lacoinia Mike Testa __________________ "I'd rather be ridin than rolling"

06-05-2013, 02:34 PM	#11
Barney Bear Senior Member Join Date: May 2004 Posts: 962 Thanks: 495 Thanked 273 Times in 174 Posts	Island Cottage Insurance We have been insured by Vermont Mutual since 1968. Obtained our policy through Melcher and Prescott in Laconia.

The Following User Says Thank You to Little Bear For This Useful Post:
kauriel (06-08-2013)

06-09-2013, 05:29 AM	#14
jazzman Senior Member Join Date: Jul 2011 Location: Mont Vernon NH & Big Barndoor Island Posts: 321 Thanks: 4 Thanked 184 Times in 62 Posts	I too had a lot of problems finding insurance for my island home. I ended up with Concord Group Insurance. They wanted my main house and cars as well to do business and I ended up with great rates on everything. Avery Insurance in Wolfeboro represents them (as well as many other independent insurance agents). Oddly, I'd had Metropolitan for 20+ years and they wouldn't even talk to me about it.

07-12-2013, 01:22 PM	#15
codeman671 Senior Member Join Date: Jan 2005 Posts: 3,476 Thanks: 221 Thanked 809 Times in 485 Posts	I just got my renewal from Hanover, my rate has doubled this year. They are claiming that they had island properties rated in the same risk category as mainland homes and when they found the error it doubled the rate. I went from $523 to just over $1k based on a $399k replacement value and $2500 deductible. What are others paying?

07-15-2013, 07:58 AM	#17
AC2717 Senior Member Join Date: Apr 2007 Location: Maynard, MA & Paugus Bay Posts: 2,567 Thanks: 753 Thanked 353 Times in 265 Posts	unfortuntley: we all in the Northeast Region have been lucky the past couple of years with extremely reduced rates, but since the country has taken a beating in the insurance world across the country, they are adjusting rates and increasing them. But it is actually more in line with where they should be originally. When you look at it, all though we all love cheap priced insurance for quality coverage just like everything else, when the fun (great prices) end, we look at it and say wow now I am getting screwed. The market is correcting itself. $1,000 for a island camp which more than likely will be a total loss in the event of a fire, snow damage, does not seem like much, now go 30 years without something happening and that is $30,000 in insurance. but at the same token, if it burns down in the 30th year then you paid $30,000 in insurace for them to give you up to $397,500 or a payout if you are liabile for anything you might do on or off your property or if someone gets hurt on your property and that is with a dock, swim area, no immediate medical care while on the island Tough pill to swallow but being in the business this is what is trending. you might be able to get a close price for the next year or two, but will all eventually been within 15% of each others pricing real soon __________________ Capt. of the "No Worries"

08-07-2013, 10:14 AM	#18
Bodhi Junior Member Join Date: Mar 2013 Posts: 6 Thanks: 2 Thanked 0 Times in 0 Posts	insurance costs/estimates WE are being dropped by Phenix- our carrier doesn't work with them- got quote from Foremost Insurance through USAA- log cabin is tough plus not having year round access to fire dept- quote is $2854 $500 deduct $2723 for $1000 deduct- coverage for 246,000 plus 24,600 for outbuildings- sounds VERY high more than double what Phenix was-

11-26-2013, 04:58 PM	#19
codeman671 Senior Member Join Date: Jan 2005 Posts: 3,476 Thanks: 221 Thanked 809 Times in 485 Posts	Resurrecting an older thread... I am trying to help someone one on island insurance. He is looking for a company that insures log homes, on an island, but does not require you to package all properties into one policy. We use Hanover for ours but they require a package deal. Anyone out there using a separate provider for their island property than their main home? And anyone in the log home situation as well?

11-26-2013, 07:25 PM	#20
Bear Islander Senior Member Join Date: Apr 2004 Location: Bear Island Posts: 1,763 Thanks: 32 Thanked 441 Times in 207 Posts	My island home is insured by Lloyds of London through DeCotis Insurance in Braintree, MA. $1,303 premium plus inspection for 450k of coverage. They had a simple one page application that I just checked. No question or mention of Log Homes. No other insurance required. I hope this works for you.

The Following User Says Thank You to Bear Islander For This Useful Post:
codeman671 (11-26-2013)

11-27-2013, 06:57 AM	#22
whalebackpoint'r Senior Member Join Date: Jul 2013 Posts: 126 Thanks: 30 Thanked 49 Times in 24 Posts	York Ins. Co, through Cross Agency

11-27-2013, 08:36 AM	#23
MAXUM Senior Member Join Date: Apr 2004 Location: Kuna ID Posts: 2,755 Thanks: 246 Thanked 1,942 Times in 802 Posts	OK I get the whole island thing far as insurance goes... but what's the deal with log cabins? Sure the construction is a little different but why would an insurance company not like them any more than a timber framed, or something built with SIPS (structural insulated panels)? Still with State Farm and very happy with them. Coverage is a little more expensive but I can understand that, after much discussion with my agent as we were writing up the binder for it, he basically said this is high risk/catestrophic coverage. They just assume that if the place ever goes up in flames it's a total loss. IF there are any damage claims they are figuring on 2-3 times the cost to repair. Thankfully I just have a simple little camp so teh cost isn't to bad. The insurance bills on some of the nicer island "homes" must be pretty significant.

11-28-2013, 10:06 PM	#27
Plumberswife Member Join Date: Oct 2011 Location: Cape Cod/Ossipee NH Posts: 38 Thanks: 14 Thanked 1 Time in 1 Post	We have Chalmers for an agent and Vermont Mutual for our carrier. They're wonderful __________________ Be kinder than you need to be.......