Insurance news from North Carolina looks like rates may head upward

residential homeowners insurance news

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…

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Homeowners insurance controversy is brewing in North Carolina

homeowners insurance business owner

Homeowners issue complaints regarding rising insurance rates Homeowners in North Carolina are voicing their concerns over some insurance companies raising premiums over the state-approved maximum. In many parts of the state, homeowners insurance is becoming more expensive due to a loophole that exists in the state’s laws. This loophole allows insurers to send “Consent to Rate” notifications to homeowners that are about to renew their insurance policies. These notifications inform homeowners that their rates will be going up more than state law would allow for normally. Consent to Rate becomes…

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Homeowners insurance rates in North Carolina are “very much a problem”

North Carolina Homeowners Insurance Rates

The commissioner in the state has openly recognized that there is an issue which must be overcome. Though the majority of people would say that they’re already paying high premiums for their homeowners insurance coverage, those in North Carolina have more to complain about than most, as the majority of property owners have seen their bills suddenly spike by a third to nearly three quarters of what it previously had been. Many people have received letters saying that if they don’t agree to these increases, they will lose their coverage.…

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Hearing regarding homeowners insurance in North Carolina has been delayed

homeowners insurance damage storm

Hearing on the subject of rising insurance rates has been postponed until October In North Carolina, homeowners insurance providers are seeking to increase the premiums for their coverage. This has caused some controversy and a hearing had been scheduled for next month regarding the matter. The hearing would have allowed state lawmakers and regulators to better understand why insurers are proposing rate increases and determine whether or not these rate increases are necessary. The hearing has, however, been delayed until October. Insurers seek to raise coverage rates by an average…

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North Carolina homeowners insurance rate increase resistance building

car insurance rates homeowners

Residents of the state are becoming frustrated and angry about the spike of up to 25 percent. As the cost of North Carolina homeowners insurance comes closer to its August increase of an average of 25 percent, residents are keeping a careful watch on the regulator in the state, which held a public hearing on Friday to give these customers the opportunity to voice their opinions on the prospect that they will be seeing their premiums skyrocket this year. The hearing fell three weeks after the insurers in the state…

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Homeowners insurance bill in Florida is moving up

homeowners insurance bill

The North Carolina proposal is only one of a large number facing the General Assembly. A bill regarding homeowners insurance is one of a large number being considered by the General Assembly in North Carolina, following a slew of others last week, including outdoor smoking bans, clean water issues, and autistic child coverage. This is because the General Assembly was trying to fit everything in before today’s non-revenue bill deadline. The bills – including the one for homeowners insurance – were required to pass their originating chamber by this date…

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Homeowners insurance bill would change the rates in North Carolina

North Carolina home health insurance

Legislators from coastal communities are hoping to make the rate system different and more transparent. Lawmakers that are representing coastal North Carolina counties where residents are feeling high frustrations about the skyrocketing cost of homeowners insurance, have now introduced a number of bills that would change the way that the state regulates the rates that are charged as well as to add transparency to the system as a whole. One of the two primary measures has already been receiving bipartisan support as there are sponsors from both parties. Both Republicans…

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