Insurance

 

With consolidation forcing national, rather than local, brokers to underwrite increasingly valuable homes and property, islanders’ insurance rates have drastically increased – and, in many cases, been canceled – in recent years.  This has followed a growing awareness of the risks presented by climate change and the occurrence of dramatic weather events, causing major companies to refuse to renew, cancel or fail to offer new insurance on properties along the coast.

The Island Institute believes that affordable insurance for island and coastal residents is an essential part of maintaining an affordable coast.  Many islanders are afraid to complain or challenge their insurance rates for fear that their coverage will be dropped.  The Island Institute is in a unique position to serve as a representative that can advocate for their interests.