Monday, Oct 08,2012
By:
Homeowners insurance providers in North Carolina are looking to raise rates starting next year, according to The Associated Press.
Providers across the state have requested a rate hike of an average of 18 percent. The state Insurance Department is currently mulling over the request in an effort to determine whether such a drastic increase is necessary or warranted.
According to the AP, the last time that state homeowners providers requested a rate increase was in 2008, when they asked for a nearly 20 percent raise and received 4 percent.
Wayne Goodwin, the state Insurance Commissioner, is asking the public to weigh in. The AP notes that homeowners in North Carolina have until October 19 to submit complaints, requests or views on the proposed hike.
According to WSOC-TV, many homeowners are outraged. Some homeowners in the state, who are living on fixed incomes, told the station they would need to find ways to save on necessities to cover the hikes.
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