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Old 03-27-2009, 08:22 AM
 
22,769 posts, read 26,209,016 times
Reputation: 14558

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Quote:
Originally Posted by Bill Hitchcock View Post
61% of wind and hail damage occurrs inland, not coastal! Click Here (http://www.hitchcockrealty.net/Wind.html - broken link)
And hurricanes don't affect the mountains? A couple of them sure did in 2004. Left us along the coast alone.
Anyone remember Hurricane Hugo in 1989? Charlotte got whacked.
Raleigh got whacked in 1996 with Hurricane Fran.
Most deaths associated with storm flooding does not occurr coastal-It's an inland phenom.
That document says that all coastal counties had less damage than all inland counties.

What it conveniently fails to mention is that there are only 20 coastal counties, and there are 80 inland counties. So of course there will be more claims inland!

To look at those numbers a different way, the coastal 20% of NC's counties cause 31.1% of the claims. I'd bet if you looked at it from a population perspective, the inequity would be even greater, since those 80% of inland counties probably have more than 80% of NC's population.
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Old 03-27-2009, 09:57 AM
 
Location: Morehead City, NC
1,676 posts, read 5,355,882 times
Reputation: 1244
"In a study from 1970 to 1999, freshwater flooding accounted for more than half (59%) of U.S. tropical cyclone deaths. These floods are why 63% of U.S. tropical cyclone deaths during that period occurred in inland counties."Inland Flooding

2004 Hurricane Frances & affects on NC Mountains: "Several rain bands produced torrential rainfall, local damaging winds, and several tornadoes. Several weak tornadoes produced minor damage to trees and buildings over Anson, Hoke, Moore, Lee, Orange, and Harnett Counties. The strongest tornado in central North Carolina damaged a home on Rye Road in Hoke County, downed numerous trees, destroyed a car, and damaged the roof of a house." Hurricane Frances

I don't have the time to continue finding the facts to post-But you get the point.
Bill
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Old 03-27-2009, 11:47 AM
 
Location: Leland, NC
149 posts, read 517,038 times
Reputation: 124
A judge found cause to issue a restraining order to block these rates from going into effect. I'm not sure what the debate is about. The method used to arrive at the rates should be reviewed. If they are fair then they should stand. If not they should be revised.
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Old 03-27-2009, 01:27 PM
LLN
 
Location: Upstairs closet
4,981 posts, read 8,745,550 times
Reputation: 6451
Quote:
Originally Posted by Bill Hitchcock View Post
61% of wind and hail damage occurrs inland, not coastal! Click Here (http://www.hitchcockrealty.net/Wind.html - broken link)
And hurricanes don't affect the mountains? A couple of them sure did in 2004. Left us along the coast alone.
Anyone remember Hurricane Hugo in 1989? Charlotte got whacked.
Raleigh got whacked in 1996 with Hurricane Fran.
Most deaths associated with storm flooding does not occurr coastal-It's an inland phenom.
Billl, I never said hurricanes do not affect the mountains. The risk, is however, much greater along the coast.

Also, as you know the mountain event was mostly flood water caused by massive rain. I was camping when the first one came through, but not in a valley and needless to say, it cut our trip short.

I expect you also know that insuring against flood water damage is different from insuring against high wind damage.

If the entire "mountains are greater risk than coastal" crowd is as accurate as you all seem to think, maybe you and the others should take up insurance underwriting, at least until real estate picks back up.

Y'all should get rich quick.

lln
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Old 03-27-2009, 07:55 PM
 
Location: Five Points
1,190 posts, read 3,642,638 times
Reputation: 988
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LLN- There is a reason the judge issued the stay. You do not know more than the judge. Let it play itself out. You act as if you are the be all end all when it comes to this subject. I will have to live with the end result. As will everyone. Bogue Banks has been around for a long time. I have had more claims on my primary home in Raleigh than I have on my PKS second home. I have owned it for 10 years withy ZERO insurance claims. I have friends whose familes have owned the same house on Ocean Ridge in AB for over 50 years with little to know insurance claims. Get your facts straight before you act like you are the final judge and jury.
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Old 03-27-2009, 08:28 PM
LLN
 
Location: Upstairs closet
4,981 posts, read 8,745,550 times
Reputation: 6451
Sorry Uncle. I thought this was a forum, an exchange of ideas. Did not mean to offend by stating some informed opinions based on a bit of background and experience. A few ideas of your own could possibly have been helpful, but instead, we got, well I can't tell what.

I worked in property and casualty stop loss insurance for years until I got sick of it. It is all in the numbers, or as we used to say, the math. Math don't lie.

I guess you realtors, retirees and coastal guys know more, or at least you want to think you do. Remember Uncle, I live down here to, my head is not in the sand.

But I will tell you one thing, Uncle. No insurer is gonna lose money over the long term due to rates being lower than they need TO MAKE A PROFIT. Judge or no judge, legal or not legal, fair or unfair. I can guarantee that. Check out the rates in the state pool for folks that cannot get auto insurance. Numbers, once again, pal.

I won't post on this topic again, you can believe me, and yes, Uncle, you really pizzed me off.

lln
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Old 03-27-2009, 08:49 PM
 
Location: Five Points
1,190 posts, read 3,642,638 times
Reputation: 988
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So what. You are no more right than anyone else. I doubt that you know more than the judge. The re-insurance bidness has more to do with this than anything else. Being an insurance agent for a spell means nothing. I have a brain and have owned coastal property for a while now.
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Old 03-28-2009, 03:18 PM
 
214 posts, read 736,572 times
Reputation: 128
Quote:
Originally Posted by LLN View Post
Sorry Uncle. I thought this was a forum, an exchange of ideas. Did not mean to offend by stating some informed opinions based on a bit of background and experience. A few ideas of your own could possibly have been helpful, but instead, we got, well I can't tell what.

I worked in property and casualty stop loss insurance for years until I got sick of it. It is all in the numbers, or as we used to say, the math. Math don't lie.

I guess you realtors, retirees and coastal guys know more, or at least you want to think you do. Remember Uncle, I live down here to, my head is not in the sand.

But I will tell you one thing, Uncle. No insurer is gonna lose money over the long term due to rates being lower than they need TO MAKE A PROFIT. Judge or no judge, legal or not legal, fair or unfair. I can guarantee that. Check out the rates in the state pool for folks that cannot get auto insurance. Numbers, once again, pal.

I won't post on this topic again, you can believe me, and yes, Uncle, you really pizzed me off.

lln
LLN you have had your say, and in addition to calling all of us posters idiots, who care to present the facts, you unfortunately have also attacked Realtors, Retirees and Coastal Home Owners, that just about makes up the majority of folks who live here. Thank you for refraining from any further posts on this subject, and actually "numbers do and can lie, as can be evidenced on so many levels taking place in our current economy".
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Old 03-28-2009, 06:49 PM
 
Location: The 12th State
22,974 posts, read 58,591,459 times
Reputation: 14925
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