Archive | North Carolina

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North Carolina Joint Underwriters and Wind Pool Map Explained

05 Jun
North Carolina Coastal Counties

North Carolina is a lovely state to call home. Our state is packed with beautiful cities, museums, restaurants and of course, some of the loveliest beaches in the country. Unfortunately, if you live in one of our amazing coastal southern cities such as Ocean Isle Beach, Sunset Beach, Oak Island Beach, Calabash, Bald Head Island, […]

North Carolina Coastal Home Insurance Rates

29 Mar
NC Coastal Home Insurance Premiums

North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]

NC Residents Speak Against 42% Rate Increase Requested by Rate Bureau

13 Feb
Beautiful,Business,Woman,Is,Speaking,On,Conference.

During a recent public comment session held by the North Carolina Department of Insurance, dozens of North Carolina residents spoke out against an average rate increase of 42% that the North Carolina Rate Bureau is requesting.  The Rate Bureau represents insurance companies in the state and earlier this year requested average rate increases of 42%. […]

North Carolina: 2024 Homeowners Insurance Rate Increase Proposed

19 Jan
nc-rate-bureau-home-insurance-rate-hikes

Recently, the North Carolina Rate Bureau requested that the N.C. Department of Insurance allow increases to homeowners’ insurance rates by an average of 42.2 percent. If the NCDOI agrees, the proposed rates will go into effect Aug. 1. However, it is also possible that the NCDOI will not agree to the increase and deny the […]

2024 Homeowners Insurance Outlook Receives Negative Rating

21 Nov
Upset,Gloomy,Asian,Girl,With,Dark,Haircut,Frowning,Sulking,Sad,

The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies.  Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]

Nationwide Insurance Company Will Not Be Renewing policies for Homeowners in North Carolina

09 Oct
Aerial,View,Of,Nags,Head,Looking,South

Nationwide insurance company recently informed the North Carolina Department of Insurance (NCDOI) that it will not be renewing homeowner policies for 10,525 homeowners in North Carolina. Over 1,000 of those non-renewals are in the Dare County, NC. The NCDOI claims that more the half of the non-renewals are based on the “hurricane hazard assessment tool,” […]

2023 Home Insurance Rates Are Increasing, Take a Look!

15 May
How,To,Make,Money,Grow.,Profitable,Investment.,Risk,Factors.,Banking

Homeowner insurance rates have been climbing for more than five years, increasing a shocking 19.1 percent since 2018 according to ValuePenguin. This trend will continue in 2023. According to the latest ValuePenguin study, between Jan. 1 and March 17, 2023, homeowner insurance premiums have increased 2.8% across the country. “In 2023, the rising cost of […]

Good News, Bad News – North Carolina Home Insurance Rates

14 Mar
Seaside,Homes,In,Rodanthe,,North,Carolina

Beautiful coastal homes by the seaside in Rodanthe, North Carolina It looks like it’s going to be a good news, bad news situation in North Carolina this year when it comes to homeowners insurance rates.  Let’s start with the good news. The Rate Bureau, which represents insurance companies operating in North Carolina requested an average […]

What is the North Carolina Homeowner Assistance Fund?

14 Feb
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North Carolina homeowners whose finances were negatively impacted by the pandemic and now need assistance with housing related expenses can now submit an application to The North Carolina Homeowner Assistance Fund. The fund which was established via the 2021 American Rescue Plan was set up to help prevent mortgage delinquencies, defaults, displacements and foreclosures for […]