Like most Wilmington residents, Monique Hroncich knows the toll of high homeowners insurance all too well.
As a licensed insurance agent working for Wilmington-based The Huneycutt Group, a boutique insurance brokerage, homeowners rates play a central role in determining the premiums that Hroncich gives to her clients. In fact, homeowners insurance can determine whether a homebuyer will purchase a home at all, Hroncich said, and prospective homebuyers call her multiple times a week to compare homeowners insurance rates with monthly mortgage costs. Over the past six months, Hroncich has had several clients opt out of purchasing a house because the insurance rates are too high.
“People aren’t buying because they can’t afford the house,” Hroncich said. “They can’t afford the insurance.”
Residents of New Hanover County beaches faced a 16% homeowners insurance rate increase last year, and another 15.9% increase this year, based on the latest negotiated increase by state regulators…