Attention homeowners and renters in the state of North Carolina: your homeowners insurance or renters insurance may be increasing at an alarming rate.
According to WRAL, several insurance companies who offer homeowners and renters insurance in the state want to raise rates by as much as 18 percent for homeowners and up to 36 percent if you rent or own a condo.
The reason for the proposed increase is said to be due to the rising costs of providing insurance to customers, due to storm damage — Among other reasons.
According to WSOC, the last rate increase was five years ago and resulted in rates increasing by seven percent.
If you would like your voice to be heard regarding the proposed rate increase, you can email
If approved, the new rates could go into effect mid 2018.
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