• MBNA Turns Eye To Area Flooding, Insurance Issues


    by on May 10th, 2010

    Flood zones in Southern Brooklyn

    Homeowners in Southern Brooklyn face tough environmental challenges, and the insurance industry is turning its back on neighbors.

    To help neighbors understand the unique problems Southern Brooklyn’s communities face, and to guide them through insurance options, the Manhattan Beach Neighborhood Association is hosting a question and answer session about homeowner’s insurance in Manhattan Beach. Manhattan Beach resident Stuart Fries, VP of insurance agent/broker Garber Atlas Fries & Associates, will lead the discussion. The event takes place during the group’s general membership meeting at 8 p.m. tonight in P.S. 195 (131 Irwin Street).

    According to the NYC Office of Emergency Management, enormous swaths of Brooklyn are in risk of devastating floods. The neighborhoods of  Coney Island, Brighton Beach, Manhattan Beach and Sheepshead Bay could be among the worst hit by storm waters as we head into this year’s hurricane season (June 1 to November 30).

    The flood map of our neighborhood (above) shows that a Category 1 hurricane can reach in as far as Avenue X, while Category 2 and 3 storms could turn Avenue O into waterfront property.

    Despite that hundreds of thousands of households lie within the flood regions, insurance companies are making it ever more difficult to protect property.

    According to the Manhattan Beach Neighborhood Association, many large carriers are cancelling or not renewing policies due to the proximity of waters. Some area homeowners are being dropped after more than 20 years as a customer. As a result, owners are forced to switch to carriers with low ratings and four-to-five times the regular price. Similarly, residents are struggling to find flood insurance.

    “This is because many carriers just don’t care about the area anymore to guide them properly,” said MBNA President Edmond Dweck. “The federal government needs to step in, but there are too many other issues of more importance it seems.”

    Attend the MBNA’s meeting to learn more about the problem and what you can do.

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    • nolastname

      Bloomie just bought Coney Island. Ha, Ha-ha.
      I said it before and I will say it again.
      “In the case of a natural disaster how will all those people get out of there?”

    • http://www.flickr.com/photos/lisanne001 Lisanne!

      It's also all the high rise buildings that are there already, both in Coney Island and Brighton Beach. Indeed, how will all those people get out of there.

    • brooklynq

      I'm on Ave W and was told that my insurance company was dropping my home owner's policy since I'm too close to the water. Thanks for this story.

    • nolastname

      I was working real estate 10 years ago and Gerritsen Beach could not get flood insurance then. I am told people in Rockaway and Neponsit are being told they will not be insured.

    • BrooklynBus

      Are they allowed to do that?

      They tried to cancel mine a few years ago because they said I had “too many claims” like 7 or 8 in ten years. The fact that virtually all of them were for under $500 with the highest one for 2 or $3,000 didn't matter to them. I forget what happened but they agreed to keep me after I protested.

    • BrooklynBus

      This whole flood insurance is crazy. It's all from the Federal government not individual companies, so you would think it would make some sense. I picked up some a few years ago because I learned that my block which is on the water would cost under $400 per year. My neighbor was paying $1,200 until I told him what I was paying. But the real kicker is that the next block further inland costs $4,000 for the same insurance. Figure that one out.

    • BrooklynBus

      Are they allowed to do that?

      They tried to cancel mine a few years ago because they said I had “too many claims” like 7 or 8 in ten years. The fact that virtually all of them were for under $500 with the highest one for 2 or $3,000 didn't matter to them. I forget what happened but they agreed to keep me after I protested.

    • BrooklynBus

      This whole flood insurance is crazy. It's all from the Federal government not individual companies, so you would think it would make some sense. I picked up some a few years ago because I learned that my block which is on the water would cost under $400 per year. My neighbor was paying $1,200 until I told him what I was paying. But the real kicker is that the next block further inland costs $4,000 for the same insurance. Figure that one out.

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