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Old 03-10-2009, 04:16 PM
 
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I am considering an Oak Island rental and I did expect to pay more for renter's insurance because of the hurricane issue. I called State Farm Ins and sure enough they will not insure a home on Oak Island but will provide a state run insurance policy. This policy is about four times a normal policy. Is there any alternative other than doing without insurance? Like using another insurance company or going direct to the state? Secondly I was shocked to see the increase in auto insurance. The rate I was given was a high as what I would pay in Philadelphia, PA. Yet in western NC rates are much later. Comments appreciated, thanks.
Don
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Old 03-10-2009, 06:35 PM
LLN
 
Location: Upstairs closet
4,981 posts, read 8,744,235 times
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When I lived there (been about 10 years) we insured with Farm Bureau. That was about all the insured there, even then. The agent worked out of his home on the island, but I do not remember his name.

lln
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Old 03-10-2009, 07:42 PM
 
Location: Valley of the Sun
196 posts, read 517,255 times
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Quote:
Originally Posted by donsabi View Post
I am considering an Oak Island rental and I did expect to pay more for renter's insurance because of the hurricane issue. I called State Farm Ins and sure enough they will not insure a home on Oak Island but will provide a state run insurance policy. This policy is about four times a normal policy. Is there any alternative other than doing without insurance? Like using another insurance company or going direct to the state? Secondly I was shocked to see the increase in auto insurance. The rate I was given was a high as what I would pay in Philadelphia, PA. Yet in western NC rates are much later. Comments appreciated, thanks.
Don
If you are a homeowner I'd give your present insurer a call. They may provide some form of addendum? extension? off your present policy to cover your temp. rental. Think auto insurance...you rent a car most policies extend whatever coverage you have onto that rental. I suspect with the house rental you will pay something but hopefully not the 4X sticker shock you mentioned. Good Luck.
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Old 03-10-2009, 08:27 PM
 
4,074 posts, read 6,416,683 times
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State Farm is my current insurer and I've been with them for more than thirty years. I was hoping to hear from someone who rents a home on Oak Island and has renter's insurance.

LLN
Thanks for the tip. The closest Farm Bureau agent I found so far is in Southport. I will call him tomorrow. Thanks.
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Old 03-11-2009, 04:07 PM
 
214 posts, read 736,516 times
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Quote:
Originally Posted by donsabi View Post
I am considering an Oak Island rental and I did expect to pay more for renter's insurance because of the hurricane issue. I called State Farm Ins and sure enough they will not insure a home on Oak Island but will provide a state run insurance policy. This policy is about four times a normal policy. Is there any alternative other than doing without insurance? Like using another insurance company or going direct to the state? Secondly I was shocked to see the increase in auto insurance. The rate I was given was a high as what I would pay in Philadelphia, PA. Yet in western NC rates are much later. Comments appreciated, thanks.
Don
Renters insurance should easily be obtained, and not expensive at all.
You are only covering the contents of the interior, not the exterior, right?
Don't forget State Farm got slammed after Katrina, I am surprised they are still in business at all. Farm Bureau is a good place to start, plus start surfin the web. Safeco is a good reasonable car insurance company, they too can be found on the internet.
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