Live Insurance News

Homeowners insurance rates may skyrocket in North Carolina

January 29, 2015January 27, 2015 Marc

Homeowners are receiving consent to rate letters from their insurance providers Homeowners insurance providers in North Carolina are sending consumers “consent to rate” letters. These letters are informing homeowners that they must agree to pay higher rates for their coverage or risk losing this coverage entirely. For many, this will mean that insurance policies will become significantly more expensive this year. Others may choose to find new homeowners insurance providers and, in some cases, this could save them money on coverage. State regulators deny rate increases from insurers, but state…

Homeowners insurance rates set to decrease in North Carolina

December 30, 2014December 27, 2014 S.Vagus

State Insurance Commissioner opts to reject rate increase proposals from insurance companies Insurance rates for homeowners in North Carolina may not be rising due to action taken by the state’s Insurance Commissioner, Wayne Goodwin. Homeowners insurance companies had sought to raise rates by an average of 35% throughout the state. Last week, however, Commissioner Goodwin decided to strike down rate increase proposals from insurers. This move means that insurance rates will throughout the state are not expected to increase at all on January 1, 2015. Average cost of insurance coverage…

Health insurance navigators are available in North Carolina

December 26, 2014December 23, 2014 S.Vagus

Navigators can help consumers find coverage through the state’s health insurance exchange Those looking to purchase health insurance coverage from the North Carolina insurance exchange will be able to find additional help from navigators. These navigators are individuals trained in the various services that the exchange offers and can be instrumental in helping people find the coverage that is most appropriate for their situation. By law, navigators cannot work directly with insurance companies in order to avoid any conflict of interest. Instead, these people are associated with non-profit organizations. Navigators…

New health insurance plan coming to North Carolina

September 26, 2014September 23, 2014 S.Vagus

Releigh, Capital of North Carolina homeowners insurance rates

Carolinas HealthCare System set to introduce new insurance plan with the aid of Blue Cross Carolinas HealthCare System has announced that it is collaborating with Blue Cross and Blue Shield of North Carolina in order to offer a new health insurance plan for individuals. The plan is called BlueLocal and will be available to consumers beginning on January 1, 2015. The insurance plan is specifically designed for those under the age of 65 that want to receive their medical care through Carolinas HealthCare System and its affiliated medical professionals. BlueLocal…

New regulations target auto insurance laws in North Carolina

September 8, 2014September 6, 2014 S.Vagus

Regulations could benefit drivers in North Carolina New regulations may have a major impact on drivers throughout North Carolina, if they are approved by the state’s lawmakers. These regulations would change the state’s auto insurance laws, which were created in 1957 and have seen little reform over the years. The regulations have managed to win strong support from the state’s insurance companies, many of whom are eager to see changes to insurance laws in order to better manage modern trends and risks in the state’s market. Insurers show support for…

Homeowners insurance controversy is brewing in North Carolina

August 25, 2014August 23, 2014 Logan B.

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…

Hearing regarding homeowners insurance in North Carolina has been delayed

July 18, 2014July 16, 2014 S.Vagus

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…