This story is part of a collaboration with the Martha鈥檚 Vineyard Times and reporter . The Times鈥� reporting on homeowners insurance can be found at
Faced with the threatened loss of his home insurance, lifelong Chappaquiddick resident Bob Fynbo spent $70,000 last year to fix his roof. He didn鈥檛 think it was in bad shape 鈥� and a building inspector wrote a letter saying as much 鈥� but his insurance company disagreed.
鈥淭hey still wouldn't touch it,鈥� Fynbo said. 鈥淪o I did all that. Everything they asked for.鈥�
It was a massive sum for the 65-year-old engineer, who operates a wifi tower in the tiny island community off that boasts about 250 year-round residents. But Fynbo鈥檚 mortgage requires that he maintain home insurance, and he figured that the repairs would keep his policy cost at the same annual rate of about $3,200, already for Massachusetts homeowners.
But then, last spring, after paying for the new roof and spending another $30,000 for shingles on the outside of the house, the renewal notice arrived from his insurer.
鈥淲hen they came back with the quote of $11,900, it was like a gut punch,鈥� Fynbo said. 鈥淚 just sat there and stared at it going, 鈥楽orry, what?鈥欌��
Baffled by the 360 percent increase, Fynbo and his insurance agent scrambled to find another option for his home, which is almost a mile from the ocean. But the that to the island, producing unprecedented damage.
Fynbo, who bought his home 40 years ago for $86,000, said the best his agent could find was a for almost $6,000 a year, double his previous premium. The ordeal is giving him a familiar sense of dread that he could lose it all.
鈥淚 was born in southern Minnesota, and when I was 8 years old, our farm got destroyed by tornadoes. And we lost everything,鈥� he said. 鈥淢y toys, my clothes, there was nothing left. And that feeling of helpless[ness] in the situation came right back for this鈥�. It's like, 鈥極kay, so I've worked for all of this stuff. And I might not be able to keep it at the rate things are going.鈥欌��
Today, Fynbo is one of many because of the soaring costs of home insurance. In a survey on the topic that yielded roughly 300 detailed responses, Vineyarders shared that they were delaying retirement; or avoiding knee replacement surgery; or skipping meals with friends; or debating a move off island for good. All the while, they鈥檙e praying that next year the rates won鈥檛 jump even higher or that they won鈥檛 get .
On the island, the from less than half a percent in 2018 to nearly 12% in 2023. In fact, Martha鈥檚 Vineyard has seen the of any community in the country, according to a . And the community isn鈥檛 alone: One recent study showed that insurance firms increased the percentage of nonrenewals in .
鈥淚t鈥檚 a ,鈥� said Edgartown resident Deb Mello Orazem. 鈥淎nd I don鈥檛 even 鈥� I鈥檓 sort of shallow breathing now.鈥�
In September, Orazem, who taught in island schools for 27 years, learned that her insurance provider was dropping her. A different insurance company would only cover her home if she paid $9,000 a year. On her fixed income, it became clear that what the private market had to offer was out of reach. So Orazem is now among the 200,000 Massachusetts policy-holders who rely on the . About 102,000 of them live in Barnstable, Dukes, or Nantucket counties.
鈥淔ortunately I have something,鈥� she said, 鈥渂ut it's definitely not ideal.鈥�
The acts as a so-called 鈥渕arket of last resort鈥� for Bay State residents to secure a mortgage and stay insured since 1968. But can leave many underinsured. For instance, those policies only cover up to $1 million in replacement costs, which is plenty to rebuild almost anywhere, , where even a modest new-build can cost more. And that鈥檚 not the only drawback.
鈥淭here are big deductibles,鈥� Orazem said. 鈥淎nd if it's a named storm I'll be paying more.鈥�
A 鈥溾�� refers to a hurricane or nor鈥檈aster that鈥檚 big enough to become a 鈥溾�� or a 鈥淪andy.鈥� Some islanders, facing sky-high insurance policies, are opting to go without protection from these .
鈥淲e have no coverage for named storms. So I presume if there was damage, we would be solely responsible for it,鈥� said Chilmark resident Peter McGhee.
McGhee, who is a former WGBH employee, made the decision to after he saw his policy jump 50% in a single year to $6,000. Without it, his policy is around $1,500 per year, he said.
鈥淚 know there are some risks in not having it,鈥� McGhee explained. 鈥� and it was that the increment of cost didn't seem to be warranted by the probability of damage.鈥�
McGhee considered a few facts: his home doesn鈥檛 carry a mortgage, it鈥檚 about a mile back from the ocean, and, at 90, . None, he said, has ever taken a single shingle off his home or the home next door. Still, he knows his luck might not hold. 鈥淚 have to acknowledge that with , it's bruited about that there is of hurricanes our way,鈥� McGhee said.
For Chappaquiddick resident Bob Fynbo, who spent decades volunteering as a firefighter, EMT, and one-time candidate for local office, the future is uncertain.
He now has a new roof over his head but no sense of security as he faces a question: can he afford the or, does he need to leave behind the community he鈥檚 known for the last six decades?
鈥淚'm coming up on an untenable choice. You know, which do I do? Do I move and 鈥� ,鈥� he trailed off. 鈥淚 don't see where this comes out good for me. I only see where it just keeps whittling me down and down so that all the effort I put in to get to where I am becomes valueless. And that's heartbreaking.鈥�
Fynbo鈥檚 policy will face . The clock is ticking.
