RALEIGH, NC (WECT/AP) – A closer look at proposed increases for homeowners insurance in North Carolina shows some neighbors could end up paying different amounts for coverage.
The group representing companies that provide homeowners insurance in North Carolina is seeking an average increase of more than 25 percent, a request the state insurance commissioner describes as appalling. Officials with the state Insurance Department said the N.C. Rate Bureau filed the request Friday. The bureau wants an effective date of Aug. 1. Click here to see the entire filing: http://bit.ly/1gdWJUs
The Department of Insurance has broken down the proposed rate increase request by zip codes. It shows that inside coastal counties like New Hanover, Pender and Brunswick, neighborhoods that border one another could see dramatically different results when it comes to homeowners insurance rates. Click here to see the breakdown of zip codes and the proposed increase amounts.
The requested rate changes range from a decrease of almost 3 percent to an increase of more than 35 percent. According to the report, beach and eastern coastal areas in Brunswick, Carteret, New Hanover, Onslow and Pender Counties face a potential 35 percent increase, while western coastal areas of the same counties could see a 2.7 percent decrease.
The report also proposed Columbus County increase rates by 35 percent and Bladen County by 18.3 percent.
The bureau will review the request and determine what adjustments they believe are warranted. If the two sides don't agree, then a public hearing will be held.
Insurance Commissioner Wayne Goodwin says new homeowners insurance rates went into effect in July 2013 and he's appalled more increases would be sought so soon.
For people who would like to weigh in on the rate requests in person, there will be a public comment session on Friday, Jan. 24, 9:30 a.m. to 4 p.m. in the Jim Long Hearing Room of the Dobbs Building, 430 N. Salisbury St., Raleigh.
Written public comments will be accepted from Jan. 3 through Jan. 31. Written comments should be mailed to: NCDOI, Attn: Bob Mack, Property & Casualty Division, 1201 Mail Service Center, Raleigh, NC 27699-1201; or emailed to firstname.lastname@example.org.
Copyright 2014 WECT. All rights reserved. AP contributed to this report.