NEWSFLASH: Homeowners Insurance Decrease for the Outer Banks On January 3, 2014 the NC Rate Bureau filed a request with the NC Department of Insurance to raise homeowners rates statewide. The insurance companies wanted to increase rates by 35% on the Outer Banks. Wayne Goodwin opened a public comment period statewide and more than 10,000 people mailed or emailed comments. On February 19,2014 the commissioner called for a full hearing. From October 20th to November 20th Commissioner Goodwin presided over a 12 day hearing. On December 18th he ordered a statewide overall average rate change of 0% effective June 1st. According to Fletcher Willey, CPCU. AAI, the bottom line is this: the insurance companies asked for a 35% increase. Commissioner Goodwin ordered a 9% decrease effective June 1, 2015 on The Outer Banks. Click here to see a table of rate changes by territory:
Posted on: Mon, 29 Dec 2014 15:30:01 +0000
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