Johnston County We know now exactly how much insurance companies want to raise homeowners insurance premiums in Johnston County. On Friday, the NC Rate Bureau, which represents all companies writing homeowners insurance in the state, filed a request with the NC Department of Insurance seeking an average increase in rates of 25.3%. Some rates would increase as much as 35% while others would drop 2.7% depending on what part of the state you live in. Information released this week by the Department of Insurance breaks down the proposed rate hike, county by county. If approved, residents in Johnston, Nash, and Franklin Counties could see homeowners insurance premiums jump 33.5%. In Harnett, Duplin, Wilson and Edgecombe Counties, the rates would go up the maximum of 35 percent. Sampson County homeowners could see a 31.3% jump. Wake County would see a 32.1% hike, while the residents living in the City of Raleigh would see a slightly lower price jump of 24.4%. The rate request would be the maximum amount insurance companies could charge customers for their homeowners policies. The proposed rate change would take effect August 1, 2014. The NC Department of Insurance is seeking public comments on the proposed rate hikes. For people who would like to weigh in on the rate requests in person, there will be a public comment session on Friday, Jan. 24, 9:30 a.m. to 4 p.m. in the Jim Long Hearing Room of the Dobbs Building, 430 N. Salisbury St., Raleigh. Written public comments will be accepted through Jan. 31. Written comments should be mailed to: NCDOI, Attn: Bob Mack, Property & Casualty Division, 1201 Mail Service Center, Raleigh, NC 27699-1201; or emailed to 2014homeowners@ncdoi.gov.
Thanks for the info! People we need to let them know this is not right! Send them a quick email to let them know you're against this!
did so the other day. It is ridiculous...we're in enough financial difficulty in this country as it is. we don't need to add more to the pile so someone in the industry can take another unneeded vacation.
This is just one of those I know someone wno knows someone who works at the insurance commision. They asked for a rate increase but after considerarion, the commission assessed it was not enough and suggested a rate that was a lot higher. I WOULD LIKE TO KNOW WHAT SUBSTANTIATES THE RAISE TO BEGIN WITH.???
Really??? Now you want to blame him for higher insurance rates? PM, of all the people, you know exactly why the rates in NC are increasing. And it ain't Urkel. It's due to the continued collusion between the industry and our state legislators. People who pass insurance laws like the "Beach Plan for $750,000 Vacation Home Owners" and the private industry that wrote the H1305 bill. The 'tax free' piggy bank for the industry.
They aren't waiting for August. My renewal was DOUBLED on 1/1/2014. No claims or history of claims in the past 45 years. Reason? .....because they can. I moved the deductible up to $2500 and I am going to research 'catastrophic' insurance with deductibles of 5k or 10k.
I have heard that some insurance providers have been using a request for increase to the policy holder as a means to get a larger increase than allowed by the insurance commision. They essentially ask for a waiver from the policy holder to increase the rate as much as they wish. Supposedly, if you do not reply to the request they do not renew your policy as a result.
Seriously, you need to change providers. Mine went up a wee bit, maybe $100/yr? At least get another opinion...PRM is the squirrel to consult. Even with the slight increase, we still save boatloads over Allstate or Progressive, who robbed us blind and didn't care when we left. There are better companies out there and better agents. 8)
