North Carolina’s insurance commissioner has negotiated a 15% average statewide increase in rates for mobile home insurance policies, a reduction from the hefty hike that the state’s rate bureau had recommended.
The North Carolina rate bureau had proposed an 87.5% increase for MH-F policies and a 53.4% spike for MH-C, mobile home casualty. As often happens, Commissioner Mike Causey’s office said he had worked with the bureau and arrived at the lower increase for both types of coverage.
The increased rates will take effect Oct. 1. A September hearing on the increase has been canceled.
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