"The insurance companies, represented by the North Carolina Rate Bureau, had requested an overall statewide average rate increase of 17.7 percent before the election on Oct. 1, 2012."
"The last homeowners insurance rate filing occurred in 2008 when the insurance companies requested a 19.5 percent statewide average increase. A settlement agreement allowed for a 4.05 percent statewide average increase to go into effect in May 2009."
2009 request of 19.5 percent statewide. Received 4.05 percent.
2012 request of 17.7 percent statewide. Received 7.00 percent.
Good job Insurance Commissioner Wayne Goodwin.
I guess the economy is getting better for the Insurance industry.
It's that "potential" thing that drives the cost up.
But there's always the "potential" we won't get hit.
Maybe we should get "rebates" if we don't get a direct hit.
How about a NC homeowners tax credit if we don't have damage.
I forgot. The potential only goes up, never down.
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