Overlooking Banks Channel in Wrightsville Beach, North Carolina If you are lucky enough to own a house on the coast in North Carolina, but don’t live in it full time, there is a very good chance that you will be paying more for wind insurance starting July 1st. The N.C. Rate Bureau, an industry group […]
Climate change has increased the number of natural disasters in the last decade and that is impacting homeowners insurance rates according to a new report by QuoteWizard. Data from the Insurance Information Institute shows that there were 850 natural catastrophes across the world in 2018, which is a big jump from the 740 in 2017. In […]
Homeowner insurance rates for many Florida homeowners will continue to rise next year, despite the fact that reforms were put in place last spring to help curtail Assignment of Benefits (AOB) lawsuits brought by contractors and their attorney partners. Unfortunately, instead of heading down, the number of lawsuits filed against insurance companies has actually increased […]
Roanoke Marshes Lighthouse – Manteo NC (Dare County, North Carolina) North Carolina homeowners will be experiencing higher premiums for homeowners insurance starting next spring, but the pain is nowhere near as bad as it could have been. Mike Causey, North Carolina’s Insurance Commissioner managed to negotiate the rate increase requested by the North Carolina Rate […]
North Carolina residents won’t have to worry about homeowner insurance rates going up, at least for a bit longer. North Carolina’s insurance Commissioner, Mike Causey has decided to extend the hearing scheduled for the proposed statewide increase from Sept. 4, 2019, to Oct. 2, 2019. The hearing is to discuss the proposed statewide average increase […]
The North Carolina Rate Bureau (NCRB) recently proposed a homeowners insurance rate increase that local officials across the state are claiming is unfair, especially in coastal areas. The NCRB filed a rate increase request on December 20ththat proposes a statewide 17.4 percent rate increase for homeowners insurance. The rate increase would cover residential property, tenants […]
Over the last few years Colorado residents have seen their insurance rates headed up. According to industry data, rates for homeowners have gone up 67 percent while drivers have seen rates climb 52 percent. Unfortunately, due to three hailstorms that hit the Front Range recently, insurance costs could be going up again. The recent hailstorms, […]
The legal dispute between the N.C. Rate Bureau (NCRB), which represents insurance companies in North Carolina, and the N.C. insurance department has come to an end with a statewide average increase for homeowners insurance coming in at 4.8 percent. This is significantly lower than the 18.7 percent that was originally floated back in November. The […]
Homeowners in North Carolina recently received a temporary reprieve from the requested 18.7% increase for homeowners rates. The insurance Commissioner, who has final say on rate hikes rejected the rate increase that had been made by insurance companies writing policies in the state. While the Insurance Commissioner rejected the 18.7% increase, it may just be […]
Residents of the Sunshine state who use the state created insurance company Citizen Property Insurance to insure their property will be seeing on average a 6.6 percent increase in their multi-peril coverage next year. In some areas, the increase could be much higher. The rate increase has been pushed back three months to May 1st […]