Taking the Plunge on Coastal Property? Make Sure Your Insurance is Up-To-Date!￼
Aug 3, 2021
Aug 3, 2021
For many, vacation time triggers dreams of owning coastal property. For some, exciting entrepreneurial ideas are born and started on the water. Before you take the leap, whether for personal or business reasons, be sure to protect your investment with adequate insurance.
Recent revisions to the National Flood Insurance Program and a rapidly changing coastal environment make essential insurance choices all the more crucial. According to the National Oceanic and Atmospheric Administration, there has been a rapid increase in Atlantic basin hurricane frequency since the 1970s.
Along with storm frequency, the intensity of hurricanes is also rising, bringing increased rainfall per event and an overall jump in the number of Category 3 storms. This, coupled with intense development pressures on desirable coastal areas, limits nature’s ability to handle flood water. According to the EPA, most major coastal cities on the Atlantic have seen a dramatic rise in major flood events since the 1920s. Cities such as Miami, Charleston and New York are considering multi-billion-dollar programs to mitigate potential flood damage.
Oakbridge has long served our coastal communities. For over a century, we’ve helped our neighbors thrive along the coast. And, we see firsthand the effects of unpredictable weather events.
That’s why we’ve partnered with syndicates at Lloyd’s of London to offer exclusive coverage for non-compliant properties along the Southeastern coast. Lloyd’s, the world’s premier insurance market, is uniquely structured to provide insurance solutions for coastal property owners.
Oakbridge is proud to offer this service to our customers. Contact a representative for more information. We’re Oakbridge and we’re deeply rooted in your community.