NC Insurance Rates

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Is this inflation? Long-term repercussion of Helene? Representation of greater risk on the coastal portion of the risk pool?

Looks like there is a pattern of them requesting a huge change and settling for a much smaller one, though. And this does not affect homeowners' insurance for owner-occupied properties, it's for rental properties.
 
Dwelling insurance policies are not homeowners’ insurance policies. Dwelling policies are offered to non-owner-occupied residences of no more than four units, including rental properties, investment properties and other properties that are not occupied full-time by the property owner.

Have they proposed increases for homeowners insurance yet? I don’t have a second home so this won’t affect me. My dad has talked about self-insuring.
 
From the link: "Dwelling insurance policies are not homeowners’ insurance policies. Dwelling policies are offered to non-owner-occupied residences of no more than four units, including rental properties, investment properties and other properties that are not occupied full-time by the property owner."
 
68% sounds crazy high. That would mean: 1. Construction costs have gone up, which they have with tariffs and masked men grabbing a significant percentage of the workers. But 68% sounds way too high for that.

And/or

2. Risk has gone up, which I suspect it is increasing every year but this doesn't include flood insurance so I can't imagine it's going up that much.

Something isn't adding up.
 
some helpful context from the article linked in the OP:

The last time the Rate Bureau made a dwelling rate filing was in July 2023, when it requested an average statewide increase of 50.6%. After negotiation, the Department of Insurance and the Rate Bureau reached a settlement for an overall average rate increase of 8%.
 
4thgenheel said:
some helpful context from the article linked in the OP:

The last time the Rate Bureau made a dwelling rate filing was in July 2023, when it requested an average statewide increase of 50.6%. After negotiation, the Department of Insurance and the Rate Bureau reached a settlement for an overall average rate increase of 8%.
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Yeah but it would mean it goes up by about 10% if the correlation remains. And that is a massive jump.
 
aGDevil2k said:
Yeah but it would mean it goes up by about 10% if the correlation remains. And that is a massive jump.
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I do think it's a lot less massive and the last increase was 2 years ago so 5% a year? Plus we did have a big weather event. This does seem much more reasonable if they can keep it down in the 10% range.
 
So we pay our homeowners insurance yearly. Just got our renewal notice for late January...

64% increase. We have never had a claim. Will be asking my agent to look for alternatives. This is some shit
 
mpaer said:
I totally understand increases relative to enormous increases in construction etc
I totally don't trust the "new way " the GOP has rigged up for the rules for these decisions
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NC Democrats should be publicizing/shouting stuff like this from the rooftops in 2026 and 2028.
 
nrsair said:
Dwelling insurance policies are not homeowners’ insurance policies. Dwelling policies are offered to non-owner-occupied residences of no more than four units, including rental properties, investment properties and other properties that are not occupied full-time by the property owner.

Have they proposed increases for homeowners insurance yet? I don’t have a second home so this won’t affect me. My dad has talked about self-insuring.
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So renters will be screwed
 
wmheel1287 said:
Democrats can publicize or shout anything they like and it will not permeate. Cults don't accept evidence.
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Still better than doing nothing at all. And I don't believe that a majority of NC voters are in the cult. NC elections are typically extremely close, and Stein and other NC Democrats have won statewide elections, so publicizing things like this can't hurt.
 
Mulberry Heel said:
Still better than doing nothing at all. And I don't believe that a majority of NC voters are in the cult. NC elections are typically extremely close, and Stein and other NC Democrats have won statewide elections, so publicizing things like this can't hurt.
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Yes, but the legislature is so gerrymandered that dems could get 65% of thr votes and still.be a minority in both houses.
 
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