insurance (Wilmington, Brunswick, Bolivia: house, to buy, construction)

[agrossi]

looking to buy retirement home in wilmington/ southport area/ how bad are the homeowners/ flood insurance rates? thanks

[cdugas01]

not bad at all. I hear mostly from my clients moving down from up north that they compare very well. the beaches can be much higher, tho not necessarily. For example, a 2350 sf beach house I have that is valued at around $500,000 has a tax bill of $2900/year and pays around $3700/yr. for insurance, (and is 4 blocks from the ocean and has an elevator.)

[h2otstr]

I am having a hard time getting names of insurance companies to call to get quotes. I am purchasing a property in Bolivia and several companies just flat out said No, they would not insure properties in Brunswick County. Any recommendations would be appreciated.

[SunnyKayak]

Originally Posted by h2otstr

I am having a hard time getting names of insurance companies to call to get quotes. I am purchasing a property in Bolivia and several companies just flat out said No, they would not insure properties in Brunswick County. Any recommendations would be appreciated.

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[shwebs]

Agrossi: Depends on where your moving from. We just had some friends more here (Wilmington) last week from Illinois and their insurance was 3X what their 1000 square foot larger home in Illinois was. They said it was the biggest shock of their move. When you narrow down your location and approimate size of home, call a few agents and get quotes. That will be your best bet.

[jag2086]

I am from South Florida, and can tell you that homeowner insurance is a MAJOR problem down here. There is no private insurance available to homes older than 1994 (pre-Andrew construction) or east of I-95. Anyone in those homes have to purchase insurance through the state at much higher rates. We are fortunate enough to have private insurance because we purchased it before the insurance companies stopped providing coverage, but we have seen our insurance rise from $3k per year to $9k per year in the last three years. The comprable state insurance is about $11k per year.

Are there similar discussions/problems going on like this on the NC coast? Specifically, Wilmington, Hampstead area? What about if your home is actually on the coast? Does the state offer its own form of insurance for people who are unable to get private insurance?

Also, I have heard that NC has very high auto insurance rates. Is this true? If so, what are the numbers?

Any help would be great. We are considering a move to SE NC to get out of the crazy-Miami lifestyle.