{"id":1167,"date":"2017-11-29T15:56:08","date_gmt":"2017-11-29T15:56:08","guid":{"rendered":"https:\/\/www.homeinsuranceking.com\/blog\/?p=1167"},"modified":"2024-01-16T17:40:03","modified_gmt":"2024-01-16T17:40:03","slug":"nc-rate-bureau-asks-18-7-percent-rate-hike-homeowners-insurance","status":"publish","type":"post","link":"https:\/\/www.gethomeinsurancequotes.com\/blog\/nc-rate-bureau-asks-18-7-percent-rate-hike-homeowners-insurance\/","title":{"rendered":"NC Rate Bureau Asks for 18.7 Percent Rate Hike for Homeowners Insurance"},"content":{"rendered":"
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If the Department of Insurance cannot reach an agreement with 50 days of the end of public comments, a hearing will be called. If the case ends up going to a hearing, a hearing officer will rule on the rate changes, setting the maximum allowable rate increase.<\/p><\/div>\n

The North Carolina Insurance Commissioner, Mike Causey recently announced that the North Carolina Rate Bureau would request a statewide average increase in homeowners insurance of 18.7 percent for 2018. The NC Rate Bureau works in conjunction with the insurance companies in the state and the NC Department of Insurance<\/a> will rule on the request.<\/p>\n

This is the first rate increase filing from the Rate Bureau since 2014. The 2014 request resulted in a homeowners hearing, the first in over 20 years and in the end the Insurance Commissioner denied the request siding with policyholders in the state.<\/p>\n

Rates have not changed due to a request from the Rate Bureau since 2012 when they requested a rate increase of 17.7 percent. This figure got knocked down to 7 percent after being negotiated down.<\/p>\n

As per state law, a public comment period will be opened in regards to the rate increase to allow the public to weigh in on the proposed rate increase. If you are interested in making a comment, there are three ways for your voice to be heard on this issue:<\/p>\n