Join discussions on moving to and living in the USVI, ask questions, share info & tips! (Vacationing? Visit Travel Message Board)


Hurricane/Windstorm Insurance

Maynard
September 20, 2017 08:28PM

Registered: 9 years ago
Posts: 9

Just curious, what percentage of people on STX carry hurricane/windstorm insurance?

Re: Hurricane/Windstorm Insurance

NorthsideKevin
September 21, 2017 07:13AM

Registered: 1 year ago
Posts: 44

It will be interesting to see which companies "disappear" as they did in Marilyn, leaving re-insurers like Lloyds of London holding the bag.

Re: Hurricane/Windstorm Insurance

LiquidFluoride
September 21, 2017 07:55PM

Registered: 5 years ago
Posts: 1,940

Quote
Maynard
Just curious, what percentage of people on STX carry hurricane/windstorm insurance?

I think it's mandatory for home owners.

Re: Hurricane/Windstorm Insurance

ironheadUSVI
September 22, 2017 07:41AM

Registered: 1 year ago
Posts: 260

Quote
LiquidFluoride
Quote
Maynard
Just curious, what percentage of people on STX carry hurricane/windstorm insurance?

I think it's mandatory for home owners.

No one has ever forced me to insure a house.



Edited 1 time(s). Last edit at 09/22/2017 07:42AM by ironheadUSVI.

Re: Hurricane/Windstorm Insurance

NorthsideKevin
September 22, 2017 10:43AM

Registered: 1 year ago
Posts: 44

It's mandatory for mortgagor homeowners.

Re: Hurricane/Windstorm Insurance

ironheadUSVI
September 22, 2017 11:10AM

Registered: 1 year ago
Posts: 260

Quote
NorthsideKevin
It's mandatory for mortgagor homeowners.

Of course. But is isn't mandatory for homeowners.

Re: Hurricane/Windstorm Insurance

LiquidFluoride
September 22, 2017 07:42PM

Registered: 5 years ago
Posts: 1,940

Quote
ironheadUSVI
Quote
NorthsideKevin
It's mandatory for mortgagor homeowners.

Of course. But is isn't mandatory for homeowners.

Yeah... I'm a debt slave so I think in those terms

Re: Hurricane/Windstorm Insurance

Scubadoo
September 30, 2017 05:56PM

Registered: 4 years ago
Posts: 2,143

I got full windstorm insurance for the condo insides this year from Lloyds of London and that wasn't cheap. HOA insurance covers the building. My main concern is the roof going off since everything else is concrete and steel and the windows and sliders all have hurricane shutters. I think it's Murphy's law that those with insurance don't get damaged. I'd guess a lot don't have it if they're not required to. There are low interest government loans for those that don't but that doesn't help with the principle cost to repair.

Re: Hurricane/Windstorm Insurance

LiquidFluoride
September 30, 2017 06:18PM

Registered: 5 years ago
Posts: 1,940

my friends / quasi-neighbors didn't have any insurance.. lost both their roofs.

Re: Hurricane/Windstorm Insurance

Gumbo
December 25, 2017 12:52PM

Registered: 4 years ago
Posts: 491

I have no insurance either. The cost that I was given was ridiculous (wood constuction), no damage to the house. Neighbors house is concrete, roof and some walls gone. From what I have seen of Irma destruction, If I were building out of pocket again I would have a solid pour cistern and foundation. The rest would be wood frame and Hardee siding.



Edited 1 time(s). Last edit at 12/25/2017 01:09PM by Gumbo.

Re: Hurricane/Windstorm Insurance

Darkmuse
May 21, 2018 05:23PM

Registered: 1 year ago
Posts: 4

The real question though is why aren't major insurers licensed to sell policies on the USVI? Is it that they don't want to offer products here, or is it that the existing companies have a solid monopoly and therefor can charge whatever they want?

I have a solid stone home built in the 40's with large galleries, concrete roof, no surrounding trees, shuttered windows, etc... Due to construction and location it has Never had a storm claim since it was built but we are still paying almost 5times what a similar structure would cost to insure stateside.

Grrr....

Join the discussion. Click the button below to Login or Register now!

Click here to login

  • Blue Ocean Transport

Moving to the U.S. Virgin Islands?

Settlers Handbook
Only $17.95

The Settlers Handbook for the U.S. Virgin Islands is your guide to moving to St. Croix, St. Thomas, St. John and Water Island.

The current 18th Edition, released in January 2016, will help you explore your dream of island living. A solid reference book, it was first published in 1975. That's 40 years of helping people move to the islands. A must read. Order today.

Order Today

Advertise

Join VIMovingCenter.com Today!

Tell prospective and current residents about your business.

Learn More →

Sister Sites

VITraders

USVI Books & Souvenirs

VInow

USVI Vacation Guide

Living in de V.I.

USVI Relocation DVD

Proud Supporter

VI Olympic Team

For over 45 years, the Virgin Islands has celebrated the Olympic tradition by sending our athletes to compete.

Learn More →