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Beachfront insurance going up

READ MORE: Beachfront insurance going up
The North Carolina coast is a hurricane prone area. That means the right homeowner's insurance is important to have. As we have seen in years past, hurricanes in our area have damaged coastal and inland communities alike. The state has had a government funded insurance plan in the works for 40 years, but now insurance companies are facing a bit of a crisis, and the state wants to have a back up plan. Patrice Parker has lived and owned a business in Surf City for 15 years. This year, her insurance went up $3,000 dollars. "Do I think it's fair that it went up that much, no. I think that's insane. And I didn't even have a claim." Parker is not alone. Private insurance premiums will be going up in all 18 coastal counties. The additional funds will go to a government insurance association called the beach plan. It was started 40 years ago as a safety net for property owners who could not afford private insurance. Now a legislative committee wants the beach plan to be backed up by substantial funding in case of a financial or environmental emergency. Right now, the plan insures $72 billion dollars in property. Available funds for damage control add up to only about 2.4 billion. Carolyn Justice, a NC legislative committee member said that is not enough. The revenue gained from this premium increase will tack onto the 2.4 billion. So if private insurers ever close their doors, residents will have the beach plan to fall back on. Patrice Parker realizes she may benefit from this in the future, but in the short term, it means more money out of her pocket. "People who have not planned or prepared, and anticipate things going up, you'll see people lose their homes and businesses. And that's not fair for people who have worked all these years and can't pay their insurance or taxes, that's insane." Now part of the premium increase means that residents will automatically be subscribed to wind and hail insurance which costs a little more than your average homeowners insurance.

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I live at the beach. I pay my own way through private insurance rather than relying on "government" backed insurance programs. Others are not so fortunate. If society is going to take up arms against public funding for some insurance programs, then let's also take up arms against: 1. Government entitlement programs which allow individuals and families to remain on the public dole and in public housing for life. How about a time limit or proof of severe physical disability to remain on the public dole for more than 2 years. 2. How about all of the subsidized programs aimed at improving the lifestyle and happiness of illegal immigrants? They are here illegally; they are breaking the law. Why are they entitled to any public funding other than return bus fare to their homeland? As you attack subsidized insurance for beach property owners, also look at subsidized earthquake insurance.

Its about time people that

Its about time people that live at the beach had to pay for their own insurance. I am tired of everyone's tax dollars going towards rebuilding houses for the few people that choose to live in extremely vulnerable place. If you can afford to buy the beach house, you should pay to keep it up, not us.


ELECTED officials FAILED us when they dealt with homeowners insurance. They allowed a HUGE increase across the board, then the insurance companies stabbed us in the back while we were still bleeding and added Hurricane Deductibles....the HUGE increase was ALLOWED to help prepare for a Katrina type event...the insurance companies RAPED the people...plain and simple