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…
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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…
Read MoreOhio landlords to benefit from savings in the new Foremost Insurance platinum package
Foremost Insurance Group has announced that landlords in Ohio that purchase their new Platinum Package will be able to benefit from customized discounts. The Insurer has enhanced its Ohio Dwelling Fire program so that its customers can take advantage of an opportunity to build their own package or choose the Landlord Platinum Package that has been pre-assembled for them. The Platinum Package is, according to Foremost, offering a discount to landlords in that state. The zone executive director for the insurer, Andy Thomas, said that they are excited about the…
Read MoreHelpful winter savings tips that landlords can use to protect their investments
Landlords who are renting out properties can follow a number of tips to more effectively save their money by protecting their investments and themselves throughout the winter months. This is especially applicable to those owning buildings or homes in the state where there are high real estate prices. Harsh winters can lead to a number of increased risks through increases in fire hazards and complications with snow removal efforts. Many landlords in the state are forced to lean on their property insurance for financial protection against accidents that can be…
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