Insurance companies request 25% rate increase for Craven County homeowners
Insurance Commissioner Mike Causey announced the North Carolina Rate Bureau has requested a 24.5 percent statewide average increase in homeowners’ insurance rates to take effect August 2021. The percentage rate increase for Craven County would be 25 percent. The NCRB is not part of the N.C. Department of Insurance but represents companis that write insurance policies in the state. The Department can either agree with the rates as filed or negotiate a settlement with the NCRB on a lower rate. If a settlement cannot be reached within 50 days, the Commissioner will call for a hearing. Two years ago, in December 2018, the NCRB requestedRead More →