The Massachusetts Property Insurance Underwriting Association, which runs the FAIR plan for Bay Staters struggling to get insurance from other companies, is now allowing customers to get at least partial insurance with them for properties worth more than $1 million.
Martha’s Vineyard has one of the highest rates of home insurance policies not being renewed across the United States, leading to higher premiums, according to a newly released federal report.
As the national insurance market retreats from areas ravaged by wildfires and storms, Island insurance agents say Martha’s Vineyard is increasingly being considered a risk by the companies writing homeowner policies.