We have been reading and hearing that a few Topsail Island real estate owners have received Consent To Rate Letter from their insurance companies.


A consent to rate letter basically means that unless you agree to pay the new rates (higher) the insurance company may cancel your insurance and leave you unprotected. Thishomeowner insurance can cause an avalanche of issues with your bank loan and of course if there is a peril to the property.


So you got the Consent To Rate Letter? Here are some tips:

1. Review your current policy to see if the deductible is too low (driving cost up), the right amount of coverage or any other changes that may help drop the cost of your insurance.

2. Call your insurance company or brokerage. Many owners here in the Topsail area have saved considerable amounts of money by tweaking their coverages. Your insurance agent should know all the ins and outs to get you the best coverage at the lowest rate.

3. Shop your coverage - It's not fun but now may be the time to shop your coverage taking proposals from other insurance companies or brokers to see if there is a more economical solution in the insurance market for you.

In general you should be doing following these tips each year but especially if you have received a Consent to Rate letter. 

Not Insurance Advice - Contact Your Insurance Company or Agent.