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Wednesday, April 23, 2014
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Homeowners insurance

     

On Tuesday, Jan. 21, the Wilmington City Council approved a resolution opposing proposed increases to homeowners' insurance rates.
 
  
The increase for our area would be the highest in the state at 35 percent, while other areas in the state would average less than 26 percent. The proposed increase does not include wind and hail insurance, which in most cases must be purchased separately in coastal areas. If the rates are put in place as proposed, homeowners in coastal areas of New Hanover, Brunswick, Carteret, Onslow and Pender counties would see the highest increases.

 
According to the City Council resolution, homeowners in coastal communities already pay premiums at two to three times the rate charged for inland properties, in addition to having separate wind and hail policies. The resolution states this disparity is not justified and "will once again place an undue and excessive burden on homeowners in coastal counties." The resolution also encourages citizens to attend a public comment session in Raleigh or send comments in writing by the Jan. 31 deadline.
 

On Friday, Jan. 24, the NC Department of Insurance will hold a public comment session on proposed increases to homeowner insurance rates. The hearing will be held from 9:30 a.m. to 4 p.m. in the Jim Long Hearing Room of the Dobbs Building, located at 430 N. Salisbury St. in Raleigh.

 
Written comments can be mailed to the N.C. Department of Insurance, Attn: Bob Mack, Property & Casualty Division, 1201 Mail Service Center, Raleigh, N.C. 27699-1201 or emailed to: 2014homeowners@ncdoi.gov.



     
     
Related: City Council
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