A Bit Winded By State Insurance Coverage?

December 26, 2017

Mandatory wind and hail insurance through the state is a thing of the past. And, for coastal homeowners, that’s a really good thing. 

Sponsored by Wells Insurance. 

In our quest to find ways for homeowners to cut corners and save a little in 2018, we spoke to Cristina Bardi at Wells Insurance for the latest on how residents can get a bigger bang for their buck. Her answer? Private Wind and Hail Insurance. Here’s a quick rundown.

A Brief History

You’re likely aware that, hurricane or no hurricane, it can get a bit windy around here; and, that the hurricane factor can contribute hail the size of golf balls. Homes and property located on or near the coast are generally worse for the wear, in both cases.

Insert wind and hail insurance claims here.

Lucky for locals of years past, home and property damage was covered under one blanket policy – fire, flood, wind, all of it – for many years. A loss was a loss. Period. But, as all too-good-to-be-true policies do, cover-all plans changed several years ago, and those of us living in coastal NC suddenly had only one wind and hail insurance option: The State.

Calling it an option, though, is a slight misnomer. All homeowners who have a mortgage are required by lenders to have wind and hail insurance.

Little do many area residents know, private insurance carriers have since changed their tune. Many private insurance companies now write wind and hail insurance policies…for far less than the NCJUA Wind Pool (NC Joint Underwriting Association).

Why Switch

1 – Cost Savings

While this is the reason we intended to highlight, cheaper doesn’t necessarily mean better. In the case of private wind and hail insurance, though, you’re not only saving money, you’re getting a better deal all the way around. See #2 & #3.

2 – Convenience

The NC Joint Underwriting Association serves an important purpose and has helped many homeowners recover damaged property. However, communicating with a state run agency has its challenges, and is typically less than convenient. Not many of us can walk into The NCJUA office and ask a customer service representative specific questions. And, wait times via phone can be long. With a private, local insurance company, you could have a new policy in less than fifteen minutes, start to finish; and, all communication can be face-to-face if you so choose.

3 – Customer Service

Most private insurance companies depend on impeccable customer service to help grow company sales and to gain referral leads; and, the state…well, it doesn’t.

So, nine times out of ten, a transaction with a local insurance company will leave you more satisfied; and confident that the savings is beyond worth it, in every respect.

Wells Insurance has four convenient locations in southeastern North Carolina, and has been serving the Wilmington area for over 50 years.   

 

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