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By CityInsurance Blues
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Insurance BluesPress Release
2006-06-07
Article Written by: Community Member
INSURANCE BLUES - PALM COAST, Like so many residents in Flagler County, St. Mark By The Sea Lutheran Church received information regarding its Windstorm Insurance that had the congregation singing the blues. One of the largest national commercial insurers and a long-time partner in the Evangelical Lutheran Church in America's denominational insurance program, contacted 51 congregations from our area to inform them that they would no longer provide coverage for the upcoming year.
Since the Hurricane season of 2004 and the devastation of Hurricanes Katrina, Rita, and Wilma last year, many insurance companies are pulling up stakes or dropping homeowner's policies. The most significant impact of this year's insurance renewals is significantly higher premiums. Rev. Tom Bingol shares, "Our congregation has had to scramble to get coverage before our policy expired. Some quotes were as high as 300% over last year's premium with as high as a 5% deductible. While five percent may not sound like a lot, that amount could be as much as $75,000 per named storm."
After mobilizing leaders in the congregation, the Oldest Congregation in Palm Coast was able to secure coverage for the upcoming year, with the benefit of a 0% - $1,000 deductible per named storm, which was music to the congregation's ears. Pastor Bingol adds, "While we have to pay a higher premium, we were able to reduce our deductible to something more manageable. We extend our deepest appreciation for Blake Thomas and the people from State Farm Insurance that really came through for us."
High insurance costs giving you the blues too? Come join us for a special "Elvis Lives" concert event this Saturday, June 10th, at 7:00 PM. Proceeds from this uplifting event will be used to provide relief from the insurance increases. Tickets are available through the Church Office or at the Palm Coast Sears Store. Adults $15, children $7.50. Please come join us.
More information about St. Mark By The Sea Lutheran Church
