Ask the Experts: Finding Homeowner’s Insurance

Q. We are very upset that our insurance company canceled our homeowner’s policy. We contacted a few companies, but they’re not interested in insuring our coastal property. Can you give us some advice?

A. Several of the nation’s largest insurers stopped renewing policies in regions they consider to be at high risk for future hurricanes, windstorms, tornadoes and hail. As a result, many homeowners like you are having trouble finding affordable coverage.

First, talk to your neighbors and find out which insurers they use. Then, if you haven’t already done so, try contacting a local independent agent who represents numerous insurance companies. Also, contact your state insurance department for companies in your area that are writing policies. The department should also have information on community groups that help homeowners with insurance problems such as NeighborWorks America.

Some states offer state-run policies for homeowners who can’t find coverage on the individual market; find out if your state is one of them. Those policies do tend to cost more than standard coverage.

To find contact information for your state’s insurance division, go to the National Association of Insurance Commissioners.

For more on finding affordable coverage, go to the Insurance Information Institute, an industry group.

Carole Fleck is a senior editor at the AARP Bulletin.