It is that time of year once again. Storm season kicked off with a nice little tropical storm Cindy. The majority of it missed us but it sure got the attention of the insurance companies. I received dozens of emails and alerts that binding restrictions were in place and we could not change, add, or write any new business. So this is not the time of year you want to miss a payment or forget to renew your policy. Because if you finally remember when a storm is off the coast you may not be able to get coverage until after the storm has passed. Unless it is required for closing there is a 30 day waiting period on new flood insurance policies. So don’t wait until a storm is in the gulf to get coverage.
On another topic– we have run into problems during home inspections with the type of electric panel / breaker box that some homes have. Mostly older homes with aluminum wiring. Some, if not all, of the companies will cancel you if you have panels that are not approved. There are a few brands that are a no-go. We recommend looking into a Square D with copper wiring.
Problem brands have been: Federal Pacific, Sylvania, Zinsco, Challenger, Stablok