North Carolina Hearing on Homeowners Increase Set for August

February 21, 2014

  • March 24, 2014 at 3:35 pm
    Phil Scott says:
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    I just got my home insurance renewal for April,2014 in Cary — it was a 37% increase from $1045 to 1425 !!!! What the heck is going on? I guess I better not switch companies or I’ll be in real trouble. Hoping I can leverage the approved increase last year for keeping this reasonable but who knows what that conversation will be like.

  • March 25, 2014 at 10:38 pm
    Megan McGarvey says:
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    Phil Scott – be glad you live west of I-95. I live in a home that is a mere 1081 square feet. Because I live east of I-95, in New Bern, the NC Department of Insurance does not require insurance companies to write “wind and driving rain perils” (a.k.a. hurricane damage) into homeowners policies in our region. We have to get THAT coverage through the North Carolina Joint Underwriters Association (NCJUA). I received my annual premium from NCJUA today – $953.00! Last year it was $857.00. Keep in mind, this is ONLY for the wind and driving rain coverage! I still pay $835.00 each year to NC Farm Bureau for all the other “stuff” covered by homeowners insurance. So…for my very modest home in eastern NC, I pay $1,788.00 a year. Think about it – if you go back over the last 20 years and look at hurricane damage in NC – Western NC has been hit harder than the coast – remember Hugo??? Tore Charlotte up!!! Yes, Irene tore us a new one two years ago, but we were paying big long before Irene hit. I have been paying NCJUA for eight years!!! Two years ago they tried to do this to us (raise out rates) but public outrage stopped it. Can only hope it will work again. Per the article: an “average [increase] of 25.3%” “varying by geographic territory.” We, East of I-95 know what that means!!!

  • April 14, 2014 at 8:54 am
    Elton Stone says:
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    I have read the comments on this site and today I am saddened that Wayne Goodwin is allowing these leaches in to drain rural area dry and away from the American Dream of home ownership.
    I bought a policy from ASI through GEICO in June 2012 for a house 1864 sq ft for $1230 a year. last year in April 2013 it was raise to $1477. On this Friday i got a notice that is was $1936.00 a year.
    I called ASI to get to see if they had made a mistake. The lady tells me that your rates may go up if I re-figure it for you. My god lady they are already up 36.5% from 2012. Sure enough I didn’t make a mistake, they did, I now owe $2100 a year for my little American dream.
    Mr. Wayne Goodwin, we in rural North Carolina elected officials to make the the honest, right decision for the people of this great state. I have not made any claims, nor missed any payments and this is what I receive.
    What I am receiving from ASI (a GEICO affiliation)of 36.5% increase since 2012 and this is BEFORE you go to hearing on the 25.3% increase hearing in August 2014.
    I am totally in disagreement with any raise in premiums from any homeowner insurance company. The teachers in this state have not a gotten a raise in 4 years. I can understand inflation but MR. GOODWIN, I do not understand greed that will put North Carolina more in the poverty level and without homeownership.
    I want to know, who is running who in this insurance world and when is the next election for your office?



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