North Carolina Insurance Commissioner Mike Causey has scheduled a 2025 hearing date after rejecting the NC Rate Bureau’s request for an 83% average rate increase in mobile home fire policies and a 50% increase in mobile home casualty rates over the next three years.
“We are not in agreement with the insurance companies’ proposed increases,” Causey said in a statement. “It is now necessary to hold a hearing to reach a resolution that will make the most financial sense for our residents and insurance companies.”
The hearing has been set for April 7, 2025. But it will likely be canceled if Causey and the rate bureau negotiate a compromise. Historically, the bureau has proposed large rate increases but has agreed to much smaller increases after negotiating with the commissioner.
The last negotiated, final rate increase for mobile homes was 10% and 15%, in 2022.
Topics Trends Pricing Trends North Carolina
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