Tag: Wayne Goodwin

Homeowners insurance rate hike request in North Carolina denied

Julie Campbell
North Carolina Homeowners Insurance Rates

The state has refused a recent request made by the industry to increase the premiums paid by policyholders. Wayne Goodwin, the Insurance Commissioner in North Carolina, has now denied the request made by the homeowners insurance industry, which had been for an average of 25.6 percent on the rates paid by policyholders across the state. This ruling followed a hearing that was held over 12 days, in October and into November to consider the proposal. That was the first homeowners insurance hearing of its kind that has taken place in…

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

Julie Campbell
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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North Carolina homeowners insurance rate increase resistance building

H. Cutner
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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Policyholders to pay lower rate for fire coverage on rental dwellings in North Carolina

Wayne Goodwin, the North Carolina insurance commissioner, has ordered a decrease in the landlord insurance property rates by 7.3 percent, at the same time that a request by the industry to increase the rates for extended insurance coverage by 36.1 percent was denied. The rates generally fluctuate from part of the state to the next. The insurance industry group called the North Carolina Rate Bureau had been seeking to increase premiums paid by policyholders the area of Fayetteville by 25 percent for non owner-occupied properties. Some of the affected policyholders with rental…

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