Coastal Properties insurance hikes Errolyne Miller asked 3 months ago
Coastal Properties insurance hikes

We have a coastal property in Fort Morgan, AL (Gulf Shores). Our insurance assessments went from $2,300 in 2022 to $5,500 in 2023 to estimated $6,800 in 2024. We have not flooded in that area and have been told it is not likely we will flood. Does UP have any advocacy in place for Private Insurance for Owners in a CBRA Zone? Our community of 88 homes has recently had 9 homes placed for sale as the insurance drastic increase is pricing out retired owners on fixed incomes. The insurance prices will run out owners that have been committed to property ownership and management. We’ve written to congress about it, partnered with other owners in the same area to see if they have had any leads and now asking if UP has any advocacy in place for this type of concern. Thank you!

1 Answers
Amy Bach Amy Bach Staff answered 1 month ago
Dear Errolyne,
Here’s our most recent information on flood insurance, straight from the head of the National Flood Insurance Program:
United Policyholders worked with the Alabama-based Homeowners Hurricane Insurance Initiative some years back to bring relief to homeowners struggling with premium increases, but I’m not sure they’re still a going concern.  Your best bet on strategies related to your flood risk zone is to follow the work that the Coalition for Sustainable Flood Insurance is doing out of New Orleans.  United Policyholders is a member of the Coalition.
If you’re not already tapping these resources, is a well-established program that may be able to help you.
Amy Bach