We need your help to stop an increase in homeowners’ insurance rates.
On November 9, 2020, the North Carolina Rate Bureau (NCRB) requested that North Carolina Insurance Commissioner Mike Causey increase homeowners’ insurance rates by a staggering 25 percent. The NCRB is a non-government entity that serves the insurance industry in North Carolina.
The proposed 25 percent increase is statewide, except in the following counties:
- Coastal areas of Beaufort, Camden, Chowan, Craven, Jones, Pasquotank, Perquimans, Tyrell & Washington Counties – 15 percent increase. Other areas of these counties see a 25% increase.
- Cherokee, Clay, Graham, Jackson and Macon, 23 percent increase.
Regardless of region, this request is outrageously exorbitant.
While this is the third rate increase request within a few years, what makes this request even more alarming is the fact that we are in the midst of an unprecedented pandemic. North Carolinians have lost jobs and many are at risk of losing their homes, yet NCRB has chosen to be insensitive and tone-deaf to the struggles of North Carolinians and request a statewide 25 percent insurance rate increase. The increase will result in an excessive $4.6 billion increase in premiums for the insurance industry while nearly 90,000 North Carolinians are struggling to make mortgage payments…that’s unacceptable!
This proposed increase impacts your members, their clients, and it will be significantly detrimental to an already struggling economy.
If you have any questions or concerns related to this Call for Action, please contact NC REALTORS® Director of Political and External Communications, Pam Melton (919-573-0992 or email@example.com).