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To the editor:
The proposed rate hike of 30 percent on homeowners insurance is outrageous and an attempt to intimidate and coerce coastal residents.
There has already been a large increase in 2008, and a 7-9 percent increase each year. The rate in Mecklenburg is considerably lower than that proposed for coastal residents. Why is that? We are already paying $416 quarterly for wind insurance. No other state charges disproportionate rates. What is the justification?
In my opinion, the North Carolina Rate Bureau should be abolished, as it has not demonstrated competence in rate setting nor taken into account that people are trying to find jobs and feed their families.
Adding to the tax burden of those people still lucky enough to own their own homes is unconscionable.
Ocean Isle Beach