Insurance increases for non-owner occupied property

On January 4, 2011 the North Carolina Department of Insurance issued a release stating that property insurance companies have asked for a 20.9% rate hike state wide for 2011. This includes rental properties, investment properties and other properties that are not owner-occupied full-time. Coastal counties can expect to see an increase to 25% (capped) for wind and hail. This increase will not affect the homeowners who live in their homes and were subject to the rate increase in 2009. Click here to read the NCDOI release.

A public comment session will be held on January 24, 2011 from 9:30 AM-12:00 PM in Room 3009 in the Dobbs Building, 430 N. Salisbury St., Raleigh, NC

Written public comments may be mailed to: NCDOI, Attn: Bob Mack, Property & Casualty Division, 1201 Mail Service Center, Raleigh, NC 27699-1201; or faxed to: 919-733-4264, Attn: Bob Mack. The deadline for submitting written comments is January 31, 2011.