New Dwelling Insurance Rates To Go Into Effect

New Dwelling Insurance Rates To Go Into Effect

Settlement Reached on Dwelling Rates

The NC Rate Bureau and the NC Department of Insurance (NCDOI) reached a settlement agreement this week on a Dwelling Rate Filing that was submitted in February of this year. The Rate Bureau was proposing an overall statewide average increase in dwelling policy rate of 18.9%. 

NC Insurance Commissioner Mike Causey was able to negotiate a much lower average overall statewide increase in dwelling policy rates to 4.8%. The settlement also realigns some territories to be consistent with the boundary lines on the homeowners insurance rate map. 

Dwelling policies differ from homeowner policies. Dwelling policies typically cover non owner- occupied second homes, vacation rental homes or year-round rental homes and do not include liability coverage. 

The new rates will take effect February 1, 2019.

Click the link for the full press release.  http://www.ncdoi.com/media/news2/year/2018/062718c.asp


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Phone: 252-489-0982
Dated: July 3rd 2018
Views: 285
About Steven: Steve Donald and At The Beach Realty //// At the Beach Realty is a local firm located in Kitty ...

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