ourinsuranceworld.com
  • Business Insurance
    • General Liability Insurance
    • Professional Liability Insurance
    • Small Business Insurance
    • Workers Compensation Insurance
  • Car Insurance
    • RV Insurance
  • Health insurance
    • Dental Insurance
  • Holiday Insurance
  • Home Insurance
    • Condo Insurance
    • Flood Insurance
    • Homeowners Insurance
    • Pet Insurance
    • Renters Insurance
    • Umbrella Insurance
  • Travel Insurance
  • News
No Result
View All Result
  • Business Insurance
    • General Liability Insurance
    • Professional Liability Insurance
    • Small Business Insurance
    • Workers Compensation Insurance
  • Car Insurance
    • RV Insurance
  • Health insurance
    • Dental Insurance
  • Holiday Insurance
  • Home Insurance
    • Condo Insurance
    • Flood Insurance
    • Homeowners Insurance
    • Pet Insurance
    • Renters Insurance
    • Umbrella Insurance
  • Travel Insurance
  • News
No Result
View All Result
ourinsuranceworld.com
No Result
View All Result
ADVERTISEMENT

North Carolina Mobile Home Insurance Rates in Limbo Until 2025

Shine by Shine
31/05/2024
in News
home insurance.jpeg

home insurance.jpeg

ADVERTISEMENT

Nearly 150,000 mobile home policyholders in North Carolina will have to wait almost a year to learn if their insurance costs will rise. The North Carolina Rate Bureau proposed substantial rate increases on April 8, seeking an overall state average hike of 82.9% for mobile home fire policies and 49.9% for mobile home casualty policies over the next three years. The Rate Bureau, representing insurance companies, operates independently from the North Carolina Department of Insurance.

Despite the similarities between the two types of insurance, including flood coverage, fire policies cover a broader range of perils, according to state officials. Due to a disagreement with the Rate Bureau’s proposal, Insurance Commissioner Mike Causey has scheduled a hearing for 10 a.m. on April 7, 2025, at the Department of Insurance building in Raleigh.

ADVERTISEMENT

“We do not agree with the insurance companies’ proposed increases,” Causey announced this week. “A hearing is necessary to reach a resolution that is financially sensitive for both our residents and the insurance companies.”

ADVERTISEMENT

The hearing will proceed unless a settlement is negotiated before hand. By law, the commissioner has 45 days post-hearing to issue an order. The Rate Bureau can appeal this decision to the N.C. Court of Appeals, and further to the state Supreme Court if necessary. Negotiations can continue throughout the litigation process.

ADVERTISEMENT

The proposed increases for mobile home fire policies are 24.9% for 2024, 21.2% for 2025, and 20.9% for 2026. For mobile home casualty policies, the requested increases are 15.9% for 2024, 13.9% for 2025, and 13.5% for 2026 The Rate Bureau aims for these hikes to take effect on November 1 of each respective year.

A public comment period on the proposed rate increases was held in April. The last rate increase filing by the Rate Bureau in 2022 resulted in settlements of 10% for mobile home casualty policies and 15% for mobile home fire policies, which took effect on August 1, 2023.

You Might Be Interested In

  • Advocates Sound Alarm on Ongoing Care Crisis Despite Auto No-Fault Reforms in Michigan
  • Rising Vehicle Insurance Costs Leave Consumers Seeking Relief
  • California Supreme Court Upholds Ruling: COVID-19 Not Considered Direct Physical Loss or Damage for Insurance Coverage
ADVERTISEMENT
Previous Post

Reforming Health Insurance: A Shift Towards Catastrophic Coverage

Next Post

How Do I Claim On My Pet Insurance

Shine

Shine

Shine is a dedicated and experienced insurance consultant, committed to helping clients navigate the complexities of insurance with ease and confidence. With a deep understanding of the industry, Shine provides personalized advice and tailored solutions that meet each client's unique needs. Whether you're looking for the best health, life, or property insurance, Shine's expertise and client-focused approach ensure that you get the optimal coverage at the most competitive rates. Trust Shine to safeguard your future with reliable and comprehensive insurance solutions.

Related Posts

OPTIS: Insurance M&A Falls 10%
News

OPTIS: Insurance M&A Falls 10%

26/11/2024
Marsh: US Rates Up 3%
News

Marsh: US Rates Up 3%

26/11/2024
Progressive Ends Fire Insurance
News

Progressive Ends Fire Insurance

26/11/2024
Zurich Insurance Sets New Goals
News

Zurich Insurance Sets New Goals

26/11/2024
4th Circuit: No Crypto Coverage
News

4th Circuit: No Crypto Coverage

26/11/2024
Safeco Buys Main Street
News

Safeco Buys Main Street

26/11/2024
Next Post
Pet Insurance

How Do I Claim On My Pet Insurance

condo insurance

How Much Condo Insurance Should I Get

Why Do We Need Health Insurance

What Private Health Insurance Should I Get

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tags

Accidental Insurance Annual Travel Insurance barclays travel insurance campervan insurance cat insurance Commercial Property Insurance covid holiday insurance Credit Card Travel Insurance dog insurance dual Health Insurance full time rv insurance international health insurance jet2 holiday insurance landlord insurance Liability Car Insurance Malpractice Insurance Medical Travel Insurance military dental insurance natwest travel insurance nursing home insurance Personal Liability Insurance Personal Property Insurance Private Dental Insurance private flood insurance Private Health Insurance Progressive Rv Insurance Property Insurance Public Liability Insurance Rental Car Insurance Rental Property Insurance rv travel insurance ryanair travel insurance secondary dental insurance short term Health Insurance supplemental dental insurance third party liability pet insurance trailer insurance

Recent Posts

How Much Auto Insurance Coverage Should I Have?
Car Insurance

How Much Auto Insurance Coverage Should I Have?

by Steven
20/01/2025

Auto insurance is a vital aspect of vehicle ownership, providing financial protection in the event of accidents, theft, or damage....

What Are The Different Types Of Coverage For Auto Insurance?

What Are The Different Types Of Coverage For Auto Insurance?

20/01/2025
What Are Liability Limits on Auto Insurance

What Are Liability Limits on Auto Insurance

20/01/2025
What Is Liability Premium in Car Insurance

What Is Liability Premium in Car Insurance

20/01/2025
What Type Of Cover Is Best For Car Insurance?

What Type Of Cover Is Best For Car Insurance?

20/01/2025
What Type Of Insurance Coverages Are Available For Your Car?

What Type Of Insurance Coverages Are Available For Your Car?

20/01/2025

Popular articles

Do I Need Workers Compensation for Subcontractors

Do I Need Workers Compensation for Subcontractors

08/01/2025
What to Do When You Can’t Afford Health Insurance

What to Do When You Can’t Afford Health Insurance

31/12/2024
What Is Sedgwick’s Role in the Workers’ Compensation Field?

What Is Sedgwick’s Role in the Workers’ Compensation Field?

26/12/2024
What Is Property Insurance in Home Loan

What Is Property Insurance in Home Loan

15/01/2025
What Are Types of Car Insurance

What Are Types of Car Insurance

16/01/2025
What Does Malpractice Insurance Cover for Nurses

What Does Malpractice Insurance Cover for Nurses

15/01/2025
ourinsuranceworld.com

Welcome to ourinsuranceworld ! We’re committed to offering personalized coverage that secures your future. With a focus on reliability and customer care, we strive to be your trusted partner in navigating life’s uncertainties.

Recent Posts

  • How Much Auto Insurance Coverage Should I Have? 20/01/2025
  • What Are The Different Types Of Coverage For Auto Insurance? 20/01/2025
  • What Are Liability Limits on Auto Insurance 20/01/2025
  • What Is Liability Premium in Car Insurance 20/01/2025
  • What Type Of Cover Is Best For Car Insurance? 20/01/2025

TAGS

Accidental Insurance Annual Travel Insurance barclays travel insurance campervan insurance cat insurance cigna Health Insurance cobra Health Insurance Commercial Property Insurance covid holiday insurance Credit Card Travel Insurance dog insurance dual Health Insurance full time rv insurance international health insurance jet2 holiday insurance

Useful Links

about us

disclaimer

privacy policy

Copyright © 2024 ourinsuranceworld.com

No Result
View All Result
  • Home
  • Business Insurance
  • Car Insurance
  • Home Insurance
  • News

Copyright © 2024 Welcome to ourinsuranceworld ! We’re committed to offering personalized coverage that secures your future. With a focus on reliability and customer care, we strive to be your trusted partner in navigating life’s uncertainties.