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Feel free to copy the below text and email it to the North Carolina Department of Insurance‘s Office of the Commissioner at commissioner@ncdoi.gov.
Good Morning, my name is [insert name] and I am a [branch] veteran.
This proposal, set to take effect on August 1, will have dire consequences for homeowners across the state, especially in certain regions facing even larger surges. Defense communities surrounding Seymour Johnson AFB, MCAS Cherry Point, MCAS New River, MCB Camp Lejeune, Fort Liberty, and Military Ocean Terminal Sunny Point are facing a 43 – 99.4% rate hike.
As the second largest economic sector in NC, defense contributes $66 billion, annually, to North Carolina’s economy. NC companies secured federal contracts totaling $6.1 billion in 2020, demonstrating the state's robust success in securing defense-related contracts.
It is imperative to recognize the interconnectedness between homeowners' insurance rates and the sustainability of North Carolina's defense-related sectors. Neglecting this aspect could jeopardize the stability of these communities, ultimately affecting the entire state's economic well-being.
Many military families are already living paycheck to paycheck, with numerous households relying on food stamps to make ends meet. Rising childcare costs force spouses to leave their jobs, compounding the financial challenges. These proposed insurance hikes add another layer of financial strain, making housing affordability an even greater concern for military families.
The potential loss of military installations in North Carolina looms large due to the impact of proposed homeowners' insurance increases. Such hikes pose a serious threat to the quality of life for military personnel and their families, a concern that will be reported by base commanders to the Department of Defense. Congress will consider this critical information in their base realignment and closure studies, potentially jeopardizing the state's vital military installations.
Approximately 20,000 service members transition to civilian life in North Carolina each year. Transitioning service members face critical decisions in determining their final retirement location. The proposed homeowners' insurance rate increases will factor heavily into their deliberations. The financial burdens imposed by these hikes may significantly impact their choice of settling in North Carolina, affecting the state's ability to retain this valuable pool of skilled and dedicated individuals.
If implemented, these increases may undermine North Carolina's status as a welcoming and supportive environment for veterans and active-duty personnel. The state's dedication to being "veteran and military-friendly" could be questioned due to the potential impact on the military community's quality of life.
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