Flood insurance rates in Florida to spike for some properties

December 30, 2014December 27, 2014 H. Cutner

Non-primary residences are going to be seeing an increase in their premiums for protection against flooding. Although owners of primary residences have been breathing a sigh of relief over recent flood insurance news, the story for owners of rental properties and vacation homes will soon be quite different. The reform bill that passed in Congress in March is working to assist homeowners, but not non-primary residence owners. The owners of non-primary residences could be in for somewhat of a shock, this spring, when they receive their flood insurance policy renewals…

North Carolina Insurance Commissioner announces lower rates for rental properties

December 19, 2011 Nordstrom

North Carolina property owners got some good news this past week as Insurance Commissioner Wayne Goodwin announced that rates on some properties would drop by an average of 7.3%. The Commissioner also rejected a rate increase proposal from the North Carolina Rate Bureau, which would have raised rates on dwelling extended coverage by 36%. The lower rates will take effect on January 12, 2012, and will affect some 400,000 policies throughout the state. The lower rates will not apply to a homeowner’s primary residence, however, as the rates are meant…