make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Proposed insurance rates would mean big hike for some in SENC, cuts for others


WILMINGTON, NC (WWAY) -- A breakdown of the new rates requested late last week by North Carolina insurance companies show many people in our area would see big increases if approved, while many others would actually see their rates go down.

The NC Department of Insurance today released a list of the changes requested by the NC Rate Bureau, which represents insurers, by proposed territory.

While the DOI says the requests work out to an average increase of about 25 percent statewide, most homeowners in southeastern North Carolina would see a 35-percent hike if the request is approved as submitted. Those areas include all beach areas, Columbus County and what's defined as "Eastern Coastal areas of Brunswick, Carteret, New Hanover, Onslow and Pender Counties."

Click here to see the full breakdown of rates by territory

But some areas a little bit away from the beach would actually see a rate cut of 2.7 percent. That would apply to Territory 52B, which is described as "Western Coastal areas of Brunswick, Carteret, New Hanover, Onslow and Pender Counties." That area includes much of Wilmington, Leland, Burgaw and Jacksonville, among other communities.

The proposal calls for an 18.3-percent increase for Bladen County.

Insurance Commissioner Wayne Goodwin chastised the insurance industry for requesting the rate change late Friday afternoon just months after winning approval of a rate increase. Goodwin has vowed to fight the request with a full hearing. Insurers want the changes to go into effect in August.

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.



The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
Please re-enter the code shown in the image below.