N.C. Rate Bureau Requests Double-Digit Homeowners’ Increases; 50 Percent in Coastal Regions

The N.C. Rate Bureau has filed a request with Insurance Commissioner Jim Long for an average increase statewide of 12.1 percent in homeowners’ insurance rates. Some proposed increases would hit 50 percent in coastal regions.

“We are reviewing the filing to determine if the proposed increases, particularly in the coastal regions, are warranted,” said Sherri Hubbard, the Department of Insurance’s lead rate attorney.