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NC Rate Bureau seeks average 25.3% rate hike for homeowner’s insurance

NC Rate Bureau seeks average 25.3% rate hike for homeowner’s insurance

NC Rate Bureau seeks average 25.3% rate hike for homeowner’s insurance
News from Jacksonville Daily News:

Homeowners beware: Another increase in your insurance rates may be on the way.

The N.C. Department of Insurance received a homeowner’s insurance rate filing from the N.C. Rate Bureau late Friday afternoon. The Rate Bureau, which represents all companies writing insurance in North Carolina, has requested a statewide average rate increase of 25.3 percent.

The requested rate changes range from -2.7 percent to more than 35 percent and the Rate Bureau is seeking an effective date of Aug. 2014.

NC-20 President Willo Kelly was expecting the filing sometime this month but was a bit surprised to see it arrive at the close of the week just after the New Year’s holiday.

“It’s just after the first of the year and on a Friday,” she said.

Kelly had only had a chance to glance at the 1,300-page document, which the organization will be reviewing to respond. Public comments can be submitted until Jan. 31.

NC-20, an advocacy group for North Carolina’s 20 coastal counties, fought against the last homeowner insurance rate increases in Eastern North Carolina, which it argued were unjustified based on historical claim loss data.

To see another filing so soon is disappointing, Kelly sa…………… continues on Jacksonville Daily News

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