Local News
10:07 pm
Tue January 7, 2014

Insurers Propose 17 Percent Premium Hike For Charlotte Homeowners

Homeowners in Charlotte would see their insurance premiums rise by about 17 percent under the proposal insurance companies filed Friday—less than the 25 percent statewide average increase, according to a breakdown released today by the North Carolina Department of Insurance.

  • The rest of Mecklenburg County would see rates rise about 23 percent,
  • Gaston County rates would rise about 27 percent,
  • and Cabarrus and Rowan Counties rates would rise about 35 percent.

See the insurer’s list of proposed rate increases by county.

The Department of Insurance declined to comment on the proposed increase, but commissioner Wayne Goodwin, who will preside over any hearings or decisions, released a scathing statement Friday, saying insurers should withdraw the request and that he would not enter into a settlement, as he did last year.

In that instance, insurers agreed to a 7 percent hike to premiums that went into effect in July, after originally asking for a more than 17 percent increase.