HAVERHILL — If you've tried to buy homeowner insurance or increase it within the last few days, you were probably told to come back next week.
With Hurricane Earl working its way up the coast, local insurance agencies are telling customers they will have to wait until the storm threat passes before they can purchase or increase insurance on houses, condominiums, boats, apartments, commercial buildings and other property.
"People have been calling and most are checking to make sure they have the appropriate coverage," said Haverhill insurance agent Thomas Minichiello about the dozen or so calls he received in the last few days from clients. "Some are concerned they don't have enough coverage and were looking to increase coverage or reduce deductibles. For those folks they'll have to wait until the threat passes."
Those in the industry said it's routine and has been a policy of insurance companies for years to put a hold on making changes to existing policies when a storm threatens.
They said the idea behind homeowner insurance is to protect you against unforeseen events. But when a hurricane like Earl is on its way and property owners decide that now is the time to buy insurance or increase their coverage, it can hardly be seen as an unforeseen event, industry experts said.
State Insurance Commissioner Joseph Murphy said there are no laws requiring insurance companies to allow for an increase in coverage when a natural disaster is pending. He said the best thing people can do is to get property insurance and keep it in place in the event of unforeseen circumstances and not to wait until a storm is approaching.
"We encourage people annually to review their assets and insurance coverage," Murphy said.
Carla Degnan of Degnan Insurance in Lawrence said that while the storm advisory is in effect, she is telling her customers that the insurance companies she represents are not allowing her to secure or increase property coverage.
"We have had some customers come in to try to secure new home coverage and we had to tell them that the carriers won't cover them until Monday," she said about business on Wednesday and yesterday. "But we tell them we can begin the paperwork but it won't be in effect until Monday."
Minichiello said restrictions on making changes to insurance coverage usually follow a tropical storm or hurricane watch or warning that is issued by the National Hurricane Center.
"Whenever there is an impending tropical storm or hurricane watch in effect, most insurance companies put a restriction on any changes to personal or commercial property insurance which results in increasing coverage, adding coverage, insuring a new piece of property or reducing deductibles while the hurricane warning is in effect," Minichiello said.
He said the insurance company bulletin he received on Wednesday noted the storm watch was in effect for Massachusetts and New Hampshire and to wait until the warnings are canceled before he can take on new policies or make changes to existing ones.
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