Posted On: June 25, 2009, 9:38 am CDT

Posted By: Stat Guy

This is one of two issues in North Carolina which people fail to understand;in North Carolina, there is a historical "sharing" (call it a subsidy) of insurance premiums for both homeowners and autombile owners. So the beach property owners complain but what do they propose? To have their insurance subsidized by the rest of the taxpaying public, either at the state level, by the beach plan, or a la' Florida, with some national catastophe fund. And North Carolina has a reinsurance facility which is supposed to level the premium level throughout the state but actually, through a surcharge on policies, has the better drivers subsidize those with "bad" driving records. For the life of me I can't understand why anyone would EXPECT someone else to pay for their insurance coverage....if it is YOUR asset, YOU protect it. How is that unfair anyway?