GREENSBORO, NC -- The state just allowed the rate insurance companies can charge you for your homeowners insurance. A 7% base rate increase took effect in July.
The insurance companies want another rate increase to take place by August 1st.
You may have heard the average statewide increase is 25%. But the key word there is "average". Your zip code determines how much the rate could really be.
2WTK took a look at the breakdown. If the companies have their way, homeowners in Greensboro and Winston-Salem city limits would see about an 18% increase.
But if you live in the county in Forsyth, Guilford or Alamance the increase drops to 13.9%.
There is a big change when you look at Davidson and Randolph counties-- a 24.5% increase.
And Davie, Rockingham, Stokes, Surry and Wilkes counties would be looking at 29.8% increase.
As you can imagine, the percentage just goes up for beach areas-- the highest is 35%. You can see the entire breakdown here. The insurance commissioner says he won't go for ANY increase and he's willing to go to court if necessary to keep it from happening.
What are you willing to do? The DOI has two ways for you to voice your opinion.
From their website:For people who would like to weigh in on the rate requests in person, there will be a public comment session on Friday, Jan. 24, 9:30 a.m. to 4 p.m. in the Jim Long Hearing Room of the Dobbs Building, 430 N. Salisbury St., Raleigh.
Written public comments will be accepted from Jan. 3 through Jan. 31. Written comments should be mailed to: NCDOI, Attn: Bob Mack, Property & Casualty Division, 1201 Mail Service Center, Raleigh, NC 27699-1201; or emailed to email@example.com.