HomeMy WebLinkAboutCOM 0397.026 2022-2024 P /coac
22Sa3
GOMM. I7
From: Alicia Perine
Sent: Sunday, August 13, 2023 5:25 PM
To: Council Testimony
Subject: Re: insurance
Dear Council Members,
We here in the Puna District are in a huge insurance crisis. Most of this area is in Lava Zones 1 &2. We have no other
options for affordable insurance except HPIA. If this is not resolved in a timely manner, we will see many foreclosures
because no one can pay an additional $500 per month in insurance costs. Most people here are on a fixed and lower
incomes.
I personally am trying to sell my super cute 2 bedroom, 2 bathroom home and have had 3 buyers back out at the last
minute once they get the one and only insurance quote. I am trying to buy another home for my sister and Ito live
together so that we both don't have to pay$500 each per month.We lost out on the first house we made an offer on
due to her house and my house buyers backing out. So 3 homes fell out of escrow, 3 families were very upset after
paying for inspections and appraisals, real estate agents lost their commission,the mortgage lenders lost out on their
fees, and the title companies lost out on their fees.This has a trickle down economic affect for the largest growing area
on the Big Island.
Thank you listening and coming up with a viable answer.
Alicia Perine
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Comm.No. �• 2b
Ref.To: VI C1OCAC/
1 5 2023
Ref. Date ,AUG 1