Buying Near Water in Hampton Roads? Get Insurance Quotes Beforehand
By DANIEL PATTON, Real Estate agent serving Hampton Road VA.
(Prodigy Realty)
Everybody’s talking about mortgage rates this week, and fair enough. Freddie Mac’s 30-year average hit 7.40% on Thursday. That’s up from 7.28% last week and the highest since November 2023.There’s a second number I want every buyer to see before writing an offer anywhere near the water in Hampton Roads: the homeowners insurance quote. Look hardest at the wind deductible.What’s happening on the coastOn Oct. 8, WHRO ran a story that puts names and streets to something local agents have been hearing about for a while. In Hampton’s Grandview neighborhood, a homeowner of almost 20 years got a nonrenewal letter from her insurer, Narragansett Bay. The company said it was cutting back how much property it covers in coastal states. She asked around and heard from more than a dozen neighbors whos...
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