According to the state insurance department, the 13.2 percent dwelling property insurance settlement provides that:
•An average 4.7 percent rate increase, varying by territory, will be applicable to new and renewal policies effective March 1, 2013.
•An average 5.7 percent rate increase will be applicable in all territories for new and renewal policies effective March 1, 2014.
•An average 2.4 percent rate increase will be applicable in all territories for new and renewal policies effective March 1, 2015.”
These rates do not match what the NCRB has published in their bulletins: http://www.ncrb.org/ncrb/Portals/0/ncrb/circular%20letters/property/P-12-8%20-%20Rev%20Of%20Effective%20Date%20OF%20Dwg%20Fire%20And%20EC%20Rates%20—%20NC.pdf.
Can somebody please explain which is accurate? Or why they are different?
“Details of the Settlement
According to the state insurance department, the 13.2 percent dwelling property insurance settlement provides that:
•An average 4.7 percent rate increase, varying by territory, will be applicable to new and renewal policies effective March 1, 2013.
•An average 5.7 percent rate increase will be applicable in all territories for new and renewal policies effective March 1, 2014.
•An average 2.4 percent rate increase will be applicable in all territories for new and renewal policies effective March 1, 2015.”
These rates do not match what the NCRB has published in their bulletins: http://www.ncrb.org/ncrb/Portals/0/ncrb/circular%20letters/property/P-12-8%20-%20Rev%20Of%20Effective%20Date%20OF%20Dwg%20Fire%20And%20EC%20Rates%20—%20NC.pdf.
Can somebody please explain which is accurate? Or why they are different?