Reconsider Increase in Homeowners' Insurance Rates
Insurance companies in the state have requested a significant hike in homeowners' insurance premiums. The proposed increase of 42.2 percent could take effect as early as Aug. 1.
Like the industry’s last rate hike request of 24.5 percent in 2020, the increase does not reflect current economic conditions and people’s ability to shoulder the steep increase. North Carolina is already experiencing an affordable housing crisis. In many of our larger communities, where home values have been increasing, as well as property taxes, the added barrier of high insurance costs will cause more displacement, disruption, and potential homelessness. Raise your voice before they raise your rates!
The economic conditions we are experiencing make this proposal a danger to the well-being of North Carolinians and we hope we can avoid a rate hike of this magnitude. Send a message to urge the NC Insurance Commissioner to reconsider the proposal to increase homeowners’ insurance rates. Please note that all comments will be entered into the public record.
