Live Insurance News

Homeowners insurance rates may skyrocket in North Carolina

January 29, 2015January 27, 2015 Marc

Homeowners are receiving consent to rate letters from their insurance providers Homeowners insurance providers in North Carolina are sending consumers “consent to rate” letters. These letters are informing homeowners that they must agree to pay higher rates for their coverage or risk losing this coverage entirely. For many, this will mean that insurance policies will become significantly more expensive this year. Others may choose to find new homeowners insurance providers and, in some cases, this could save them money on coverage. State regulators deny rate increases from insurers, but state…

Homeowners insurance companies haven’t given up on rate hike requests

January 20, 2015January 17, 2015 H. Cutner

Despite the fact that they have been unsuccessful, so far, insurers in North Carolina are still trying. According to an industry spokesperson in North Carolina, homeowners insurance companies are not yet ready to back down on their goal to increase premiums by an average of 25 percent across the state. A group that represents nearly 100 insurers in the state is taking its case to the Court of Appeals. According to Ray Evans, a spokesperson for the Rate Bureau industry group, which represents almost 100 companies that sell N.C. homeowners…

Homeowners insurance rate change requested for mobile homes

January 14, 2015January 13, 2015 Julie Campbell

The North Carolina Department of Insurance has released a statement to describe the request from the industry. The N.C. Department of Insurance (NCDOI) has now received a rate filing for homeowners insurance rates from the N.C. Rate Bureau, which is an entity that is not a part of the department, and which represents all insurers in the state that sell coverage for mobile homes. There are two different types of mobile home insurance that are offered in North Carolina. The first is through the MH(C) form, and the second is…

Homeowners insurance rates set to decrease in North Carolina

December 30, 2014December 27, 2014 S.Vagus

State Insurance Commissioner opts to reject rate increase proposals from insurance companies Insurance rates for homeowners in North Carolina may not be rising due to action taken by the state’s Insurance Commissioner, Wayne Goodwin. Homeowners insurance companies had sought to raise rates by an average of 35% throughout the state. Last week, however, Commissioner Goodwin decided to strike down rate increase proposals from insurers. This move means that insurance rates will throughout the state are not expected to increase at all on January 1, 2015. Average cost of insurance coverage…

Insurance news from North Carolina looks like rates may head upward

October 24, 2014October 22, 2014 G. Turner

Insurers in the state have proposed raises in homeowners premiums at an average of 25 percent. In North Carolina, recent insurance news is showing that homeowners policies may soon be rising in price as companies have been filing to increase their rates by an average of 25 percent. Insurers have said that the current homeowners insurance rates are inadequate to cover damage claims and projections. The commissioner in North Carolina has now made an insurance news announcement that the office has opened up a public hearing that will take place…