County Executive Leopold Puts Valuable Homeowner Insurance Information On-Line
Annapolis, MD (January 19, 2007) - Anne Arundel County Executive John R. Leopold is urging waterfront residents in the County to meet with their insurance representatives and make sure their current homeowners policy is up to date.
"The recent announcement that Allstate Insurance would no longer write new homeowner policies for waterfront property owners in Maryland made me realize there is a bigger issue at hand," said County Executive Leopold. "In a county with more than 500 miles of waterfront property, it’s not enough to have homeowners insurance, but residents should also be covered by flood insurance. In response to action I have taken today, citizens can go to the County’s website and get up-to-date information regarding available insurance carriers and rate information, via a link to the Maryland Insurance Administration."
Allstate will continue to renew existing policies, which represent 85% of the company’s business. Nevertheless, County Executive Leopold is urging all residents to talk with their insurance carrier and see if the coverage they currently have is right for their home and family. "This announcement from Allstate is a wake up call, not for residents needing new policies, but for existing policy owners. Take a few minutes and check on your current policy and see if it fits your needs," said Mr. Leopold
Maryland Insurance Administrator R. Steven Orr, in response to County Executive Leopold’s expressed concerns, indicated in a letter dated January 9, 2006 to Mr. Leopold that there are still options for consumers and companies that are seeking to write new business. A partial list of available carriers can be found by going to the County's website and clicking on News Flash on the main page. Commissioner Orr said, "Maryland's property and casualty market remains healthy and competitive. While selected insurers are restricting their writing, other carriers are continuing to write new business, so the market remains strong."
>> Link to valuable information on the Consumer Guide to Homeowner Insurance and the Comparison Guide to Maryland Homeowners Insurance Rates.