North Carolina Wind and Hail Insurance

[Michael Cook]

Q: Does anyone know another NC Wind and Hail provider other than NCUIA?

Ok bigger pockets family, I’m looking for any advice on a problem I’ve continued to have with a property I own in Wilmington, NC. This was the first property I ever bought, long before I learned how to analyze deals with the help of BP. Currently, one of my biggest expenses is NC wind and hail insurance, which is separate from my homeowners insurance. My current homeowners insurance is USAA, which only acts as a servicer for NCUIA. The problem I keep having is that USAA values the rebuild cost at $900k while it’s appraised value is maybe only $500k. I understand the value of the house is different that the rebuild cost, but that big of a difference seems insane to me. Anyways, if anyone has dealt with a similar situation or can recommend a cheaper provider please let me know. I also understand a cheaper provider may not pay out as well after a natural disaster but after 3 hurricanes in the last 5 years I have yet to make a claim....