Coastal Group Disputes Insurance Commissioner's Claim

A group representing the 20 coastal counties says the state insurance commissioner is wrong when he said the majority of damages caused by hurricanes occur along the coast.

Wayne Goodwin made those remarks Monday, in urging state lawmakers to reject any delay in raising coastal homeowner rates.

The group NC 20 says hurricanes such as Hugo and Fran devastated parts of Charlotte and Raleigh.

NC 20 says information over the past 50 years suggest the vast majority of the state is at risk for hurricane damage, not just the coast.

Under the proposal, home insurance rates in the coastal counties would increase an average 18% this year.

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  • by Still furious Location: Washington on Feb 27, 2009 at 06:39 AM
    So what your saying is...? I can choose not to have this premium and pay something else? I ask sincerely, not to be a smarty pants..
  • by Informed Location: North Carolina on Feb 27, 2009 at 02:37 AM
    To Furious: The reason that State Farm sent you that notice is because YOU VOLUNTARILY CONSENTED to that rate. It's called a "Consent to rate". It is what you sign when your personal choice of an insurance company is unable or unwilling to accept the maximum rate set by the Insurance Commissioner. Former Insurance Commissioner Jim Long's decision on the Beach Plan rate increase was made so that consumers would have more options from more insurance companies, and not just be monopolized by the Beach Plan, and so folks like you'd have more chances for discounts and pay less. Which reminds me: Everyone keeps forgetting that it was NOT current Insurance Commissioner Goodwin that made the decision that folks are mad at. This was plopped into Goodwin's lap. Give him a break. .... Also, regarding hurricanes, since 1950 in NC only a handful of hurricanes have hit only west of coastal NC. The federal data and meteorologists have available maps showing that 10X more storms hit coastal NC.
  • by Davis Location: Washington on Feb 24, 2009 at 04:19 PM That's where the right info is. Goodwin cares more about insurance companies than the insured. We're being sold out.
  • by Doug Location: Hubert on Feb 24, 2009 at 01:57 PM
    I signed that same waiver in April last year to keep my Nationwide policy, which went up 50% last year over 2007. I just hope my rates won't go up again this year. I'll find out soon.
  • by Furious Location: Washington on Feb 24, 2009 at 12:12 PM
    My homeowners insurance is thru State Farm and I just recieved my bill for next year. Here is what it says in small print at the bottom of the policy..."I understand and agree that the coverage provided by the policy referenced above is based on rates in excess of standard rates as may be applicable in the state of North Carolina. I further understand that I am being charged 45% more than the standard rates. I think we should all contact Wayne Goodwin at: North Carolina Department of Insurance 1201 Mail Service Center Raleigh, NC 27699-1201 800-546-5664 - in North Carolina Only 919-807-6750 - outside North Carolina HE WANTS OUR RATES TO BE HIGHER naturally because he lives on the other side of the state!

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