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Old 06-23-2009, 05:11 AM
 
Location: North Carolina
2,657 posts, read 7,598,518 times
Reputation: 4339

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... to help cover the cost, should a major hurricane hit the coastal communities

All NC homes could pay in beach coverage deal (http://www2.journalnow.com/content/2009/jun/22/all-nc-homes-could-pay-beach-coverage-deal/ - broken link)

I tracked down the proposed legislation, titled House Bill 1305 - Essential Property Insurance for Beach Area Property.

http://www.ncleg.net/Sessions/2009/B...DF/H1305v1.pdf

A segment reads:

(a) It is hereby declared by the General Assembly of North Carolina that an adequate market for essential property insurance is necessary to the economic welfare of the beach and coastal areas of the State of North Carolina and that without such insurance the orderly growth and development of those areas would be severely impeded; that furthermore, adequate insurance upon property in the beach and coastal areas is necessary to enable homeowners and commercial owners to obtain financing for the purchase and improvement of their property; and that while the need for such insurance is increasing, the market for such insurance is not adequate and is likely to become less adequate in the future; and that the present plans to provide adequate insurance on property in the beach and coastal areas, while deserving praise, have not been sufficient to meet the needs of this area.

It is further declared that the State has an obligation to provide an equitable method whereby every licensed insurer writing essential property insurance in North Carolina is required to meet its public responsibility instead of shifting the burden to a few willing and public-spirited insurers.

It is the purpose of this Article to accept this obligation and to provide a mandatory program to assure an adequate market for essential property insurance in the beach and coastal areas of North Carolina.
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Old 06-23-2009, 07:52 AM
 
16,308 posts, read 26,710,211 times
Reputation: 8339
Building homes on shifting sand at the waters edge is stupid, yet for the stupid few that think this is wise, we all get to pay.

Take a trip to the Outer Banks, and you will see many maps, photos, etc about out the banks are moving further west all the time, yet building at the waters edge is encouraged (for the taxes do doubt).

The definition of insanity is to repeat the same thing and expect different results, and is practiced with abandon along our coasts.

Now the minority that can afford castles on the sand want everyone to chip in to help them pay for their folly
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Old 06-23-2009, 08:09 AM
 
Location: Apex, NC
3,176 posts, read 7,954,007 times
Reputation: 2722
Quote:
Originally Posted by Asheville Native View Post
Building homes on shifting sand at the waters edge is stupid, yet for the stupid few that think this is wise, we all get to pay.

Take a trip to the Outer Banks, and you will see many maps, photos, etc about out the banks are moving further west all the time, yet building at the waters edge is encouraged (for the taxes do doubt).

The definition of insanity is to repeat the same thing and expect different results, and is practiced with abandon along our coasts.

Now the minority that can afford castles on the sand want everyone to chip in to help them pay for their folly
Agreed and I used to see this while I was living in Emerald Isle. It's also the same on the West Coast where you have the idiots building houses in the hills that catch on fire seemingly every year. The people that need to pay are the people that choose to build their houses where natural disasters occur constantly. They know the risk they take.
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