Watauga homeowners insurance set to increase in June
North Carolina Insurance Commissioner
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"The insurance companies wanted to raise our homeowners' rates up to 99.4% in some areas and an average 42.2% statewide in a single year," Commissioner Causey said. "I fought for consumers and knocked them back to 7.5% increases over two years with a maximum of 35% in any territory. We consider this settlement a big win for both homeowners and
Under the new agreement, statewide homeowner insurance rates will increase by an average of 15% over the next two years. In addition, the agreement prohibits the
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"I was shocked at the large request that was made," Commissioner Causey said at a press conference. "And I'm pleased to say the settlement reached was a fraction of what was asked for by the
Negotiations like these aim to keep insurance companies providing services in
According to a report by the
"I urge consumers, if you have questions about your homeowner's insurance or if you need help getting a claim settled, give us a call at the
For more information, visit www.ncdoi.gov/.
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