The board of commissioners in the town of Emerald Isle is encouraging homeowners there to speak out against a proposed insurance rate increase, adopting a resolution of their own against it.
The town says that homeowners there already pay the highest base rates for homeowners insurance in the entire state -- saying rates are 4 to 5 times higher the other areas. A 30 percent increase in rates has been proposed for several coastal counties and will be considered by the State Department of Insurance in the coming weeks.
Emerald Isle officials say that the current rate for $75,000 worth of coverage is around $1,500 a year. With the proposed increase it would be nearly $2,000 a year in 2013.
This resolution comes on the heels of the meeting held this week by the group NC 20 -- which is working to stop the rate increase.
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