Officials meet to discuss a stay on coastal insurance rates

Posted by Debra Worley - email

KURE BEACH, NC (WECT) - Members of the Eastern Coastal Caucus met Thursday morning in Raleigh to discuss House Bill 426, which would put a stay on insurance rates.

The bill requests to "impose a temporary stay on increased surcharges and deductibles under the beach plan and the fair plan, and to temporarily stay property insurance rate increase for homeowners policies across the state."

Last week a superior court judge made a ruling that increased homeowners insurance up to 30 percent for some people living in coastal communities.

Meanwhile, some living in western North Carolina saw about 4 percent decrease in their homeowners insurance.

If passed, House Bill 426 would put a stay on homeowners insurance until July 1, 2010.

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