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Homeowner insurance credits for storm-proofingPosted On Wed, May 12, 2010
North Carolina homeowners may soon be able to receive insurance credits for putting in place storm-proofing measures, Insurance Journal reported.
A proposal has been filed with the North Carolina Department of Insurance by the North Carolina Rate Bureau concerning the implementation of measures that would protect a homeowner's property, Insurance Journal said. Some measures come from the Institute for Business & Home Safety's Fortified building programs.
The homeowner's insurance credits would affect state resident's yearly hail and wind premiums. The "programs are designed to improve a home's ability to resist damage from natural disasters, such as hurricanes and other high-wind events," Insurance Journal said. Coastal communities are expected to greatly benefit from this program.
It is said that the fortified building programs are meant to help construct safer and stronger homes, according to Insurance Journal. Homes built under this system must be certified by an evaluator, with a minimum of four inspections.
When buying home insurance, the property's owner should check to make sure coverage is provided in the event of a natural disaster. If not, separate coverage should be purchased.
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