Buying Waterfront Property in Connecticut and New York

When home buyers are considering the purchase of waterfront or coastal property in Fairfield or Westchester County, there are several insurance factors they need to understand.  We always recommend consulting an insurance professional prior to making an offer on your new home. This way you can understand the insurance ramifications prior to closing.

When securing a mortgage, a home buyer may need to purchase flood insurance coverage for the closing if the home is located in a flood zone, in addition to the standard home insurance policy. And even without a mortgage, these coverages are highly recommended for properties that have direct ocean access.

As a home buyer, here are a few things to consider when looking into home insurance:

Wind/Hurricane Deductible

Often when you purchase a home within 2500ft of the coastline, many insurance carriers will implement a separate hurricane deductible. For buyers interested in coverage from top-rated High Net Worth companies (AIG, Chubb, Pure, Cincinnati, BerkleyOne), separate deductibles may be negotiable based on your standard home deductible. An offer from these companies is often contingent upon writing a package for each client (automobiles, jewelry, and personal umbrella).

Flood Coverage

Properties with direct Long Island Sound access tend to be located in VE or AE flood zones. These high-risk zones require an Elevation Certificate before Primary FEMA Flood or Excess Flood quotes can be provided. The certificate provides the base flood elevation as determined by FEMA in addition to the elevations of the garage, machinery, and first-floor living level. Some homes in these areas have elevated living levels which adds to the complexity of the underwriting process. For all areas below the base flood elevation, it’s necessary to confirm whether or not the enclosure is properly vented (in AE zones) or has breakaway walls (in VE zones).  In Connecticut and New York, there are now private flood markets that are able to compete with FEMA. Some may actually offer a more comprehensive policy over the standard FEMA policy.

Once you know if your new home is elevated, you will need to inform your home insurance carrier.  AIG, Chubb, Pure and Cincinnati will require proof of positive elevation before they will offer you home insurance. Daigle & Travers Insurance fortunately also represents respected insurance carriers that do not require positive elevation as long as you carry flood insurance.

When you have questions about insuring coastal property, turn to Daigle & Travers Insurance for answers. We’ve been managing business and personal insurance since 1983, and we want to be the 1st choice when you—or your buyers—need insurance advice.

For more information reach out to Daigle & Travers Insurance.  We have three convenient locations in Connecticut: Wilton, Darien, and Westport.  One of our many experienced insurance professionals will be able to guide you through the insurance process.  Contact us at 203-655-6974 or at