...business? These people are crazy, they have gone up by 300% on the insurance of the business that we are interested in buying (in just one year). I am just curious if there is any other option or are they this high because they have the monopoly on this kind of insurance???? The business is a storage facility (a bunch of metal buildings).

If you want wind coverage, and you're near the water, then yes, Texas Windstorm is the only place to get coverage.

Go talk to a local agent. The REASON why the rates are so high, is because it's really, really high risk. The reason why they have a monopoly on it, is NO ONE ELSE WANTS TO WRITE IT. When you DO find someone else to write it, it's NOT going to be an admitted carrier, and it's likely going to be MUCH more expensive than Texas Windstorm. They aren't a real insurance company, you know, it's a GOVERNMENT insurance program, that steps in when no one else wants to write the coverage.

Yes, there are other options. DIC coverage comes immediately to mind - but that doesn't mean it's going to be CHEAPER.

Part of buying this business, should be sitting down and talking to the existing agent, and talking to your OWN agent, about coverage options. If you don't want insurance for wind, you can probably not insure ANY of the buildings for property coverage. Wind is your most likely peril of loss, except for flood, here in Texas. Oh, and flood is a seperate policy, too.