Ok I'm not sure how valid this is but given the reasons I can see this happening. My car insurance agent a Nationwide insurer was telling me yesterday that starting the first of July many companies that offer homeowners insurance are going to stop offering policies for an undetermined length of time. The reasoning behind this is because of the foreclosure crisis and the high amount of homes that are being vandalized by the evicted homeowner prior to leaving the property ( look back to some of the tv / paper / mag / internet news articles about this phenom. My agent stated that her office will not be offering homeowners insurance after the end of the month because their office and company has to many insured properties in the area and with it being a coastal zone it has an impact on their rating with some organization. So as I understand it the ones that have to many insured properties in a given market or region are the ones who will most likely be the ones that stop offering home owners insurance though this could also affect other insurers.
On a side note I found out that Loyd's of London handles homeowners insurance in coastal locations that are within three or so miles of the actual coast.
On a side note I found out that Loyd's of London handles homeowners insurance in coastal locations that are within three or so miles of the actual coast.
