Homeowners in Edgecombe County could face an increase of 35 percent in their homeowner’s insurance rates based on a rate increase proposed by insurance companies represented by the North Carolina Rate Bureau and submitted to the North Carolina Department of Insurance (NCDOI) on Jan. 3.
That means a homeowner currently paying an annual premium of $1,000 would see it increased to $1,350 if the request is approved. The 35 percent rate is the largest increase requested in any of the state’s 43 rating territories.
The statewide average rate increase is 25.3 percent, varying by territory, with a requested effective date of Aug. 1.
For the complete story, see today's print edition of The Daily Southerner.