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Property insurers in coastal counties

Couple of things: Right now it's State Farm, we'll probably see more follow..Wayne Goodwin (Ins Commissioner) was on TV tonight & said they had to allow the legislation to go forward fearing insurors would pull out of NC all together. Give them this option: You either write state wide or leave....don't allow auto ins, watercraft, umbrellas, etc, all personal policies. They would then come up with something I assure you. THEN, while our area has not had any catostropic causes of loss in recent years, our rates increased over 30% and the guidelines for NCJUA/NCIUA (who also writes our wind policies) has made other changes causing loss of coverages and higher premiums. The inland counties have had more claims than coastal counties, due to snow, flooding, tornadoes. Their rates were decreased by 1-6% depending on the county. As difficult as it is for consumers it is also very difficult for local agencies. Their business is to 'write business' and rates are so high, everyone is shopping rates as they should, even some are choosing to self insure by choosing to no longer carry wind coverage. WAYNE GOODWIN needs to hash this over with the 'powers that be'. Sounds like the insurance companies are dictating to him. Thanks for listening, CONCERNED.


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