You might call it chaos or maybe quiet panic, but the events of September 11th are clearly a challenge to the insurance industry on how to deal with what is estimated at more than $70 billion in damages. We thought you might like a forecast of how it will affect the homebuyers of Greenwich. Here is what to expect.
 
1st, it’s clear homeowners insurance rates will be going up, for some, quite significantly.

2nd, the list of companies that are interested in insuring the high property values of Greenwich will shrink dramatically. The higher the value, the fewer the companies.

3rd, coverage for tear down/rebuilds will be difficult to find, coming with many restrictions.

4th, Cancellation/non-renewal of coverage will become more common as insurance companies reduce their exposure, especially for companies needing reinsurance.
 
 
 
 

Shepard Insurance Group
55 Railroad Avenue
Greenwich, Ct. 06830
203.637.6655 Fax 203.637.6700

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