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State Farm and Coastal Insurance

For all of you cheering the decision by State Farm not to insure coastal properties - you better remember just how much money NC takes in as a result of coastal tourism. Other insurance companies are most likely to follow SF. You say you don't want to help fund the coastal properties damages from a hurricane. When those tourism dollars disappear because there are no rentals available, your taxes will increase to make up the shortfall in the state budget. Not to mention, you will be unable to rent that cottage at Wrightsville Beach, it isn't there anymore because the last hurricane destroyed it and the owners had no insuranace.

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