newsobserver.com projects - Beach Plan - Comments

Re: Senate sends beach bill to House

mav6000 — Wed, 26 Aug 2009 15:45:29 -0400

I just want to lend some perspective here. I have a small house in Brunswick county, walking distance to the beach, not on the beach. It's a small, older home, about 1,100 square feet, and nothing fancy (it was built just to be someone's vacation home in the 80s). Rebuild estimate is $80,000 for which I have coverage.

Since the house is financed, the law requires that I carry The Beach Plan (mostly wind), a separate Homeowners policy, and Flood.

The total of all 3 have over doubled in the last 5 years, which is how long I've owned the house.

I've heard many say that homeowners near or on the beach are getting large subsidies and cheap insurance from the government. Let me assure you, this is not true.

This year, I will pay $4,200 in insurance. That means, all things remaining equal, in 20 years I'll have paid enough insurance totally rebuild my house, whether it's ever damaged or not. And, that's using the absolute highest deductible available for each plan, so they'll never really pay out the whole $80,000. And that's only if my house is totally destroyed.

And, consider that, since the house was built in 1984, it's never had any significant damage from a hurricane. Keep in mind they won't all pay, only the one that is deemed to have the coverage for the cause of damage.

My old house in an inland county had 1 insurance policy that covered everything, payed up to $250,000 to rebuild and cost $525 a year. That means I would have to pay that amount for 476 years before I'd reach the $250,000.

I wish NC law did not require me to have these insurances, but it does. But no one should imagine that these insurance policies are not making money. This is just insurance companies and politicians doing what they do best, which is collect money.

And, by the way, I really don't think taxpayers all over the state should cover the expense of someones beach house, but I truly doubt that's ever going to really happen. And I do think there should be a cap on the value covered.

However, I lived in Charlotte when hurricane Hugo plowed through, which showed hurricanes can make a huge mess inland too. Charlotte suffered heavy damage, and a lot of million dollar houses got damaged, but everyone was covered by their normal homeowners insurance, despite the fact it was still a hurricane as it passed through Charlotte.

So maybe everyone within 200 miles of any coast should have to be on the Beach Plan too, and pay a rate respective to risk.

Beach plan needs to be dissolved. Your risk, not mine

PlaybyPlay — Fri, 07 Aug 2009 19:42:01 -0400

I just can’t believe I am one of the few who have a problem with being held liable for homes in high risk coastal areas. I know the argument of it would take a storm of the century to trigger the surcharge, but my problem is that we are all now liable for the overdraft of this government created entity. And I know how the legislative branch works and I am sure as they did in 1998 and 2003, they will try to expand this program, which is for last resort insurance, into even more counties. Next the western counties will need assistance getting insurance for landslides and so on and so on. That will increase the carried liability to a point that it will be triggered by an event and we will all be paying for the repairs of those who insist on living in high risk areas but don’t feel that they should pay the full price for it.

At least the cap should be reduced substantially to less than $400,000, maybe even to less than $250,000. I am sure that the people who we are supposedly trying to help have structures that are closer to or less than $250,000. Most of the value in these homes is in the ground. Covering a structure that is $1,000,000 or even the now agreed upon $750,000 includes a lot of homes that are well beyond the average level and don’t need subsidies from the average person who does not live in a risky area.

If you live in these 18 counties you need to pay the full price for your risk or move. Stop looking for handouts from those of us who don’t take risks like you.

Re: Senate sends beach bill to House

PlaybyPlay — Thu, 06 Aug 2009 10:34:40 -0400

I still say it is not my problem that you want to live in a higher risk area than I do. The same can be said for those living on the west side of the state.

I am sorry, but the Beach Plan has never charged a fair rate for premiums and was to be an insurer of last resort "created by the state government." But it has become the insurer of first choice and the plan has nowhere close to the reserves that are needed to ensure solvency in case of a major hurricane. This has allowed more people to build in high risk areas without fully paying for the cost of those developments. Why should the state government and the residents across the entire state be held liable for the homes in 18 counties?

The state government should stay out of this and dissolve the beach and fair plan completely. Let those people find their own private insurance. If they can’t afford it or companies refuse to cover high risk areas, then move.

In addition, the cap should be much lower, under $400,000. For many high risk homes in those 18 counties, a large portion of the home value is in the land under the house. Why should we subsidize structures that cost as much as $750,000? That is a lot of structure. Bring it more in line with average structure costs so that we who live in lower risk areas don’t have to pay for those who seem to think everyone should pay for their risk.

Re: Senate sends beach bill to House

starcoconst — Thu, 06 Aug 2009 09:32:11 -0400

Lets try and explain again. The Beach Plan is private.The state is not in the insurance business. The insurance industry wants this bill to protect them and wants the cap at 1 billion. The 2.4 Billion in reserves and re-insurance is more than the total damage over the last 25 years. The Beach plan is profitable and the insurance companies have been taking the money our for years. Only 26% of wind damage claims for entire state were paid to the 20 coastal counties. Coastal homeowners already pay 300=400% more than inland plus carry flood insurance. This bill was pushed by lobbyists and let me assure you that residents on the coast do NOT expect inland counties to subsidize us. We subsidize you. Check the facts before you keep playing the insurance industry game of Geographical war of Eastern Carolina against the West. Remember that you are going to need help getting landslide insurance in the mountains.

Re: Senate sends beach bill to House

melted — Thu, 06 Aug 2009 05:52:20 -0400

Basnight can just go sit in a corner, suck his thumb and cry. Let him pay for all the beach houses in his district destroyed by storms rather than the rest of the state.

Enough with the surcharges

PlaybyPlay — Wed, 05 Aug 2009 22:28:22 -0400

I think this is crazy. Let the people in those 18 counties that get the benefit from this pay for it. I get nothing from this and don’t understand why I am called upon to pay for people’s beach houses.

Why is the state of North Carolina in the insurance business anyhow? If they can’t get insurance then that is their problem and should have been a factor in buying the place.

I already might have a surcharge on my taxes, please don’t make me know be responsible for some ones beach house repairs.

Re: Dome Memo: Busy week, but no budget

domewatcher — Sat, 18 Jul 2009 12:27:01 -0400

Top ten mythical comments from imaginary legislators as to why we ain’t got not budget deal yet:

10. "The lobbyists have been telling me how great I am and now I just can’t stand to leave the mirror. Do I really look like Brad Pitt?"

9. "I have been pretty tired lately. I’m not used to drinking the good stuff."

8. "Must be the special herbs and spices in that lobbyist chicken. It sure is good but makes you drowsy."

7. "We knocked off at lunch today. Everyone brought a beach chair and we sat outside………pretended we were sitting on the new pier. I’m bringing a fishing pole tomorrow and an Ember’s CD."

6. "I have not been back to the chambers since I heard about that snake handling bill. I am afraid of snakes and will not be going back until someone makes sure they did not leave any around the General Assembly. And anyhow, I’m a Presbyterian and we don’t do much with snakes."

5. "None of us really understands this budget mess. It’s because those pesky Republicans don’t want to raise taxes. We could balance the budget if we could raise taxes as high as the teachers and state employees want us to. Pretty simple if you are as smart as me."

4. "We have been too busy watching that court battle between the Gov and that school lady, June. I’ve never seen a trial like that and I have the whole “Perry Mason” series on VHS. And what is so funny……..I’ve voted for both June and Bev. And now they are squaring off in court. Life sure is funny sometimes."

3. "A lot of us have been working on getting Jim Black back home. Some things are just more important than a budget. You sure you’re not from that grand jury investigating all these goings on….? Maybe I shouldn’t be talking to you. Let me ask my lobbyist if I’m allowed."

2. "I’ve been keeping my head down and not saying nuthin’. I was afraid the Gov was going to invite me on her “Raise Your Taxes” tour. I don’t like flying much and I don’t want my constituents to know I’m up here in Raleigh. I hope this all blows over before the next election. I went back home to my district for momma's birthday but I wore a wig and a mustache...."

1. "With this $1.6 billion dollar tax increase coming……..well, to be honest………most of us legislators have taken part time jobs so we will be able to keep our heads above water. Me, I’m waitin’ tables at McDonalds. That doesn’t leave us much time to work on the budget. I don't know about the average working family but this new tax increase will put my family in the ditch. I just wish I had some say in this!"

Re: Dome Memo: Busy week, but no budget

PaulTerrell — Fri, 17 Jul 2009 11:34:05 -0400

Judge STephens is too busy yelling at school board attorneys. To bad he is not providing justice for the people of NC by actually punishing a CORRUPTED politician.

Soft on crime?

grinder — Fri, 17 Jul 2009 10:48:19 -0400

Soft on crime? I don't think so. These two gentlemen were not really doing anything other than working the system.

But those who shoplift to feed the family. That's another story. Lock them up and throw away the key.

The quality of mercy is directly related to the quality of your shoes. Shoes make the man and these two gentlemen wore some fine footwear in their day.

The quality of mercy

Isaac136 — Fri, 17 Jul 2009 09:21:18 -0400

I've got nothing against showing mercy to folks, but it would be nice to know that these judges would be as ready to extend the same mercies to convicts who aren't in their same social class and circles. Maybe they do. But Sam Curren sure never did.

Re: House approves beach plan bailout

Notsurewhere_NC — Tue, 14 Jul 2009 21:50:34 -0400

I'll ask my own inland insurance agent what this really means to me, an inland resident vs. what I read in this article.

Then, I'll decide what misfits in the GA to recommend voting out.

Re: House approves beach plan bailout

starcoconst — Tue, 14 Jul 2009 21:36:48 -0400

Terrible Bill. The only winners are the insurance companies. Eastern NC will be paying about 300% more than the standard rate and insurance companies reduced their liability, Inland policy holders shouldn't worry about assessments, Historical data shows it will never happen and the most the assessments would be are around $60 per year if it did. Maybe the Senate will have more sense than the House. And remember one more time, this is not about the beach but about the 18 coastal counties as far west as Columbia, Camden, Eliz City, Beaufort, a 2hour drive from the beach.

Re: Beach Plan in time for the 4th?

starcoconst — Wed, 01 Jul 2009 18:08:21 -0400

You don't get it. We are tired of subsidizing you. The insurance industry is raping the 18 coastal counties charging us 3 to 4 times what the rate is inland and then discounting policies inland. 74% of the wind damage claims over the past twenty years are the inland counties. No one has told you how they took the money year after year and never built up the reserves and now are crying poverty. What they have done is start a territory war. Insurance is based on spreading the risk. That means the clean up after Hazel, Hugo and Floyd. There has not been a hurricane in 5 years so what have they done with the money? I will tell you that a big chunk has gone to lobbyists and PR firms to spread the lies that you are believing. I am not a rich coastal owner. I paid 100K for my house in 1991, the insurance was $600 and now it is $4000 and they want 22% more. I leave 10 miles from the coast.I work for a living and getting tired of being referred to as a rich beach house owner. This argument is not about living at the beach, it is about living in Columbia or Elizabeth City or Little Washington or New Bern. It is not about the Oceanfront. Get your facts straight

Re: Beach Plan in time for the 4th?

Kingixolib — Wed, 01 Jul 2009 18:07:01 -0400

I live 5 miles from the coast......my insurance premium went up 45%.......homes on the beach had a 17.5% increase.......now they want to add 10% to my insurance bill to cover those who own ocean side properties.

I agree let's see the list of political whores who own property on the beach.

Re: Beach Plan in time for the 4th?

bobbyjay — Wed, 01 Jul 2009 11:25:39 -0400

Please list all house and senate members who own beach property and their vote.