Waiting for that climate change flooding.
(media.greatawakening.win)
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Nationwide canceled all home insurance policies in coastal NC. Mine was canceled, so I got a cheaper rate and also stopped my Nationwide auto insurance and got a better deal. But this isn't due to flooding but to hurricanes and how much more damage they can cause when there are so many more homes in this hurricane prone area.
Florida mandates different levels of different levels of hurricane resistance to homes and buildings when they are built and I think some upgrades to certain buildings after they are built.
NC should have to have a certain level of resistance for new homes. Water is a challenge for some of the homes, and that makes it even harder. I have a friend who had a bit of a wild time with the last hurricane, but made it through ok.
But my house has been around since the 1930s and has seen a lot of hurricanes. Isabel blew down trees in my yard, but didn't touch the house. The house has never flooded in nearly 100 years. I have never once bothered to evacuate because of a hurricane. I know that a hurricane can never reach my house at more than Category 1 or 2 because of the Continental Shelf knocking down the strength of any storm. My property goes to the centerline of a swamp, but I don't worry about flooding. The width of the swamp that is dry most of the time is enough to absorb most of the extra rainfall, and surge doesn't reach this far. You'd think the insurance company would take that into account and just raise the rates in areas that actually have a history of great damage, instead of punishing me, when my neighborhood has never lost a single home to a storm.
You definitely picked a good spot. I agree, they shouldn’t just lump everyone together.
The "insurance" company doesn't want any risk at all. But that's not how the world works.
I dislike Nationwide intensely anyway. My old house is a frame house on brick piers. During the winter, wooden panels were set up between the piers to keep the cold wind from blowing under the house and making the floors super cold. Nationwide said that for fire insurance, we had to brick up the entire foundation. They also said that there couldn't be any open vents. After several years, the floors completely rotted in three rooms because of the moisture being trapped under the house. Of course the insurance company said none of that was their fault.
In another bout of idiocy, the flood insurance said that the foundation had to have open vents so that flood water could flow through. So it was technically impossible to meet the conditions of both types of insurance.
So I changed insurance companies and do what I want. I keep the vents open. If the house ever burns down, the plastic vents will be destroyed, so the insurance can't tell if they were open or closed.