Delay that order!!!

Delay that order?
Beach Plan - Insurance rates - increase now or later?

The North Carolina Insurance Underwriting Association also known as the "Beach Plan" has proposed a 15% - 25% increase its rates for wind and hail policies and full peril policies for coastal properties.  In this current environment of economic downturn many of the communities are banning together to petition a delay of that order. This could impact the Crystal Coast in the next few months.

Sen. Julia Boseman introduced a bill in the N.C. General Assembly Wednesday, January 28th, 2009 that would put a temporary stay on increases in deductibles and rates on homeowners and wind and hail insurance covered by the Beach Plan.

The stay would be to May 1, 2011, Boseman, D-New Hanover, said Tuesday. “We have to do what we can do in tough economic times to keep insurance affordable,” she said, adding that the increases are “completely unreasonable.”

Dare County and the Town of Nags Head have been leading the way to appeal these rate hikes. Other coastal towns are joining in on the efforts including Emerald Isle. http://www.emeraldisle-nc.org/EmeraldTidings/2009/021809issue.htm