First of a two-part series by Catherine Kozak, Coastal Review When Insurance Commissioner Mike Causey met last month in Manteo for a brief overview and Q&A with community members worried about property insurance issues, he stressed that his office had limited power over building code changes and insurance company business decisions in North Carolina that [...] Real Estate | Full Article
Outer Banks Real Estate and Business
State offering free flood insurance online conferences this year
March 28, 2024 | Real Estate | By: Sam Walker
From SamalkerOBXNews.com Five online conferences will be held between April and October to provide vital information regarding the need for flood insurance in North Carolina. The 2024 conferences will be similar to the ones offered in 2022 through WebEx, and will be free of charge to the public, insurance agents, adjusters, real estate agents, engineers, [...] Real Estate | Full Article
Island Real Estate: Hatteras Island home sales and trends for March
March 12, 2024 | Real Estate | By: Stephen Smith
Real Estate Market Update – March 2024 My main takeaway from the latest Outer Banks Association of Realtors (OBAR) monthly statistical report was land – vacant lot inventory is down even further than it was last year. Residential home inventory is improving (thank goodness) but land inventory is trending the opposite way. I touched on [...] Real Estate | Full Article
Earlier in January, Insurance Commissioner Mike Causey announced that the North Carolina Rate Bureau (NCRB) filed a rate filing with the North Carolina Department of Insurance asking for an average statewide increase in homeowners’ insurance rates of 42.2%, with Dare and Hyde Counties facing as high as 45.1% for beach areas and 33.9% for other [...] Real Estate | Full Article
Dare County expresses strong opposition to proposed homeowners ins ...
January 20, 2024 | Real Estate
The North Carolina Rate Bureau has filed a request with the North Carolina Department of Insurance that proposes to increase homeowners insurance rates statewide by an average of 42.2 percent effective August 1, 2024. If approved by the North Carolina Department of Insurance, homeowners insurance rates in Dare County would increase by 45.1 percent for properties [...] Real Estate | Full Article
Insurance Commissioner Mike Causey announced that the North Carolina Rate Bureau (NCRB) filed a rate filing with the North Carolina Department of Insurance on Wednesday asking for an average statewide increase in homeowners’ insurance rates of 42.2%, with Dare and Hyde Counties facing as high as 45.1% for beach areas and 33.9% for other inland [...] Real Estate | Full Article
OBAR seeks to rally opposition to proposed 42.2% homeowner insuran ...
January 17, 2024 | Real Estate
By Outer Banks Voice In a Jan. 13 message posted on its Facebook page, the Outer Banks Association of REALTORS (OBAR) is asking residents to send a message to NC Insurance Commissioner Mike Causey expressing opposition to the NC Rate Bureau’s (NCRB) request to raise homeowner insurance rates by an average of 42.2% statewide. “Hardworking North [...] Real Estate | Full Article
Insurance companies ask for hike on OBX homeowners’ insurance po ...
January 6, 2024 | Real Estate | By: Sam Walker
From SamWalkerOBXNews.com Companies that underwrite homeowners’ insurance policies are seeking another massive rate hike in North Carolina, with coastal areas again taking the brunt of the proposal. “Rising insurance costs are a real concern and will add to the increasing inability of North Carolinians to realize the dream of home ownership,” said Outer Banks [...] Real Estate | Full Article
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