FAIR Plan

2013

April 18, 2013

Winter Storms Blow in Higher Rates for Fair Plan Home Insurance

Sara Brown
FAIR Plan
Storms

A steep rate hike is in the offing for the only home insurance available to many Vineyard residents.

The FAIR Plan has proposed a rate increase of nearly 10 per cent for the Cape and Islands.

According to information released by the Massachusetts Property Insurance Underwriting Association, also known as the FAIR Plan, owner-occupied home insurance rates would increase 9.9 per cent, the maximum increase allowed, on the Cape and Islands. The proposed average increase in the state is seven per cent.

2011

December 1, 2011
Martha Coakley

A.G. Faults Hurricane Models for Inflating Homeowner Insurance Rates

Mark Alan Lovewell
FAIR Plan
Hurricanes
Storms

Vineyard property owners concerned about sky-high insurance premiums now have company; the Massachusetts Attorney General mounted a claim last month that faulty computer-generated hurricane models have contributed to unnecessarily high home insurance rates for property owners across the commonwealth.

2008

June 2, 2008

FAIR Plan Will Not Seek Appeal; Rate Hikes Off

Jim Hickey
FAIR Plan

Vineyard homeowners who already pay some of the highest home insurance costs in the country will not see their rates go up this year.

After the state insurance commissioner last month rejected a proposed 25 per cent rate hike for the FAIR Plan, the state-backed insurance provider of last resort, some speculated officials for the plan would appeal the ruling.

But at a meeting last Thursday, the insurer’s board of directors decided not to appeal the ruling, at least for now.

May 15, 2008

Fair Plan Rate Increases Are Denied

Jim Hickey
FAIR Plan

Island homeowners who already pay some of the highest home insurance rates in the nation received some rare good news last week when the state insurance commissioner rejected a proposed 25 per cent rate hike for the FAIR Plan, the state-backed insurance provider of last resort for most Vineyarders.

In her May 8 decision, insurance commissioner Nonnie Burnes said FAIR plan officials failed to demonstrate a need for the proposed rate hike.

March 20, 2008

Island Homeowners Find Target for Anger in FAIR Plan Chief

Jim Hickey
FAIR Plan

The state-backed home insurance provider of last resort for most Vineyarders is called the FAIR plan, but most Island residents readily complain that their ever-increasing premiums and deductibles are anything but fair.

In fact, at a special public forum at the Tisbury Senior Center on Monday, many Vineyarders were crying foul about their FAIR plan rates.

2007

November 29, 2007

Bills Grow Larger For Home Insurance

Jim Hickey
FAIR Plan

In a move that has outraged Island homeowners and their elected state representatives alike, the Massachusetts Division of Insurance, with only scant publicity, recently agreed to hike to the roof certain deductibles for people insured under the FAIR plan.

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