Tag: North Carolina Rate Bureau

Homeowners insurance rate hike to face the public at a hearing

Insurance Commissioner Wayne Goodwin - Homeowners Insurance

The state commissioner has requested that insurers not raise prices until after the meeting. Wayne Goodwin, the commissioner for North Carolina, has stated that any decision regarding increases in homeowners insurance rates will need to be held off until after June 3, 2013, when a public hearing has been set. The commissioner is seeking the public’s insight before potentially massive increases occur. According to Goodwin, he and his staff worked throughout the weekend, on top of a great deal of overtime that they have already been putting in, in order…

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Homeowners insurance could rise by 18 percent in North Carolina

North Carolina Homeowners Insurance Rates

The state commissioner is currently considering this increase, which some agents are calling necessary. Homeowners insurance customers could soon find that their premiums are headed strikingly upward in North Carolina, as the commissioner considers a price hike by an average of 18 percent. Many customers are saying that this is an additional financial burden that is making the coverage unaffordable. Many residents of the state are very upset and feel that an increase of this size is unfair and could make their homeowners insurance cost prohibitive. The average annual rate…

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Homeowners insurance in North Carolina may be getting more expensive

Marc
homeowners insurance

Homeowners insurance rate increase proposal coming from state insurers Homeowners in North Carolina may soon see their insurance rates jump if insurers are granted approval for proposed rate hikes. Many of the state’s insurance companies are looking to raise rates on homeowners insurance coverage to account for several risk factors that companies believe consumers are confronted with. Homeowners insurance in North Carolina has been a tricky subject recently, with many insurance companies looking to mitigate their exposure to the risks associated with powerful natural disasters, which have caused some havoc…

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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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