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Insurance rates taking residents by storm

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Local homeowners are feeling the affects of some pretty high insurance rate spikes.

The thirty percent increase that went into effect in New Hanover, Brunswick, and Pender counties May 1 is taking a hefty chunk out of people’s wallets.

Chris Long and his fiancée bought a $180,000 house and are paying almost $1,900 a year for insurance.

Kathleen Riely, with the Wilmington Regional Association of Realtors, started the group the Cape Fear Coalition of Concerned Citizens to serve as a voice for frustrated residents. “Not only were we getting an increase, 30 percent, which is the highest in the state, but 43 other counties were getting a decrease.”

Chris Long was surprised by the hike. “It was kind of a shock. I really didn’t know what to expect, but I didn’t expect that.”

You can find all the information Riely has posted about the insurance situation at cfc3.org.

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Story summary

Local homeowners are feeling the affects of some pretty high insurance rate spikes.

The thirty percent increase that went into effect in New Hanover, Brunswick, and Pender counties May 1 is taking a hefty chunk out of people’s wallets.

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Associated poll

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