Insurance firms seek 42% rate hike for NC homes; 99% increase at beaches

[leftwinger]

RENEWAL TERM:

01/25/2024 - 01/25/2025CURRENT PREMIUM
$681.00

RENEWAL CHANGE
+47.7%
$325.00 increase

RENEWAL PREMIUM
$1,006.00

A summary of your premium and policy change information is shown below. With this
renewal, you'll see an increase in your home coverage limits. This change reflects the rising
cost to replace homes in your area, including labor and construction materials.


Think I make it up? Libstain pukes make me hurl.

 

[The Duke]

Damn!

I'm sure they're high-balling, waiting for the Insurance Commissioner to negotiate down.....Maybe, unless they are just looking for a excuse to leave NC altogether.

This is what’s happening right now all over the country, insurance companies non-renew and/or pull out of a state entirely making it even more difficult to get insurance at any cost.

Insurance companies are a business just like any other, many are running at a 102-120% combined ratio meaning they’re losing 2-20% on every policy they have.

It makes you wonder if there is a going to be a domino effect.....What are mortgage companies going to do when a home can't be insured any more?

Oh but don't worry, everything is just fine according to the dems.


RALEIGH, N.C. (WNCN) — Insurance companies are seeking a more than 40 percent average rate increase for coverage of homes in North Carolina with much higher rates sought at the coast, according to a Friday news release from the North Carolina Department of Insurance.

The North Carolina Rate Bureau, which represents companies that write insurance policies in the state, is requesting a 42.2 percent rate increase for homeowners’ insurance, the news release said.

The highest rate increases — at 99.4 percent — would essentially double costs for homeowners in beach areas in Brunswick, Carteret, New Hanover, Onslow, and Pender counties, the news release indicated. Insurance companies are seeking a 39.8 percent hike for homes in Durham and Wake counties, including Raleigh and Durham.

MSN

www.msn.com

Whatever happened to them comptroller guys?

 

[otto105]

Damn!

I'm sure they're high-balling, waiting for the Insurance Commissioner to negotiate down.....Maybe, unless they are just looking for a excuse to leave NC altogether.

This is what’s happening right now all over the country, insurance companies non-renew and/or pull out of a state entirely making it even more difficult to get insurance at any cost.

Insurance companies are a business just like any other, many are running at a 102-120% combined ratio meaning they’re losing 2-20% on every policy they have.

It makes you wonder if there is a going to be a domino effect.....What are mortgage companies going to do when a home can't be insured any more?

Oh but don't worry, everything is just fine according to the dems.


RALEIGH, N.C. (WNCN) — Insurance companies are seeking a more than 40 percent average rate increase for coverage of homes in North Carolina with much higher rates sought at the coast, according to a Friday news release from the North Carolina Department of Insurance.

The North Carolina Rate Bureau, which represents companies that write insurance policies in the state, is requesting a 42.2 percent rate increase for homeowners’ insurance, the news release said.

The highest rate increases — at 99.4 percent — would essentially double costs for homeowners in beach areas in Brunswick, Carteret, New Hanover, Onslow, and Pender counties, the news release indicated. Insurance companies are seeking a 39.8 percent hike for homes in Durham and Wake counties, including Raleigh and Durham.

MSN

www.msn.com

Just how is this a "Dem" thing?

 

[Jarlaxle]

You need government interference.

That goes for a lot more than just insurance!

The rebel side still thinks you need less government involvement, because they know that the insurance will be merciful and will see jesus just in time!

You have no idea what you're talking about.

Same reply as above!

America is trying to teach Canukistan how to be better commies!

Are Americans becoming completely ignorant on how insurance companies work?

Yet again, you have no idea what you are babbling about.