North Carolina Insurers Request Mobile Home Rate Changes

The North Carolina Rate Bureau has filed for mobile homeowners insurance rate changes with the North Carolina Department of Insurance (NCDOI).

The bureau has requested an average statewide decrease of 0.8 percent for the MH(C) form and an average state increase of 20.5 percent for the MH(F) form, with a requested effective date of Aug. 1, 2015.

The bureau, which is not part of the NCDOI, represents all companies writing mobile homeowners insurance in the state. Two forms of mobile home coverage are offered: the MH(C) form and the MH(F) form. The forms are similar; however, the MH(F) form provides coverage for a broader range of perils.

The filing will be reviewed by the NCDOI insurance stafff to determine what, if any, rate adjustments are warranted.

If NCDOI and the Rate Bureau do not agree on rate changes, Insurance Commissioner Wayne Goodwin may call for a public hearing in which both parties would present their cases for or against rate adjustments.