Proposed Insurance Increase Update

Dated: March 1 2024

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Thanks to all who called their representatives regarding the proposed insurance rate increase.  Your voices have been heard!   North Carolina Insurance Commissioner Mike Causey is pushing back against the state rate bureau after they asked for a hike in insurance rates.

Early this month Causey rejected the insurance industry's request for a high rate increase for North Carolina homeowners.

Insurance companies are pushing for a 42% rate increase statewide, alongside a 99% increase for property owners in some parts of eastern North Carolina, specifically on the coast.

A court date is set for Oct. 7.

"The request that was made in many parts of the state was excessive and unfairly discriminatory to certain sections of the state," Causey said. "It was a large disparity in where people lived. It ranged from 4% in some of our mountain counties to close to 100% on the coast."

We will keep you updated on any updated news.

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Alex Argiroff

With a degree in Marine Biology Alex has always been drawn to the ocean and so it was no surprise when he moved to the Outer Banks with his wife and 3 children in 1989 from Stone Harbor, NJ. Having ow....

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