North Carolina Home Insurance Rate IncreaseOn October 1, 2012, the North Carolina Rate Bureau (NC RB) filed a request for an increase in homeowner insurance rates with the North Carolina Department of Insurance (NC DOI) on behalf of North Carolina insurance companies. They cited a rise in claim costs as their reasoning for a rate claim and hoped to raise it an average 17.7% across North Carolina and 30% on the coast.

Today, Commissioner Goodwin signed a settlement with the insurance industry that will raise the rate 7% statewide. However, rates for the beach areas (territory 8) of New Hanover, Brunswick, Pender, and Onslow Counties will be raised 19.8%. In the area deemed coastal, rather than beach, (territory 52), the rate will increase 8.6%. You can see a chart with a full breakdown by county here. If you are unsure what your rate will be, call your home insurance provider.

If you would like a referral for a reputable insurance agent, you are welcome to give us a call at 910.202.2546 or send us a message through our Contact page.

Meghan Riley