NCRB requests approval of large insurance rate increases on mobile homes, public comment period open
The North Carolina Rate Bureau has asked for an increase in insurance rates for mobile home policies and people have an opportunity between now and November 18 to comment on the proposal.
The NCRB represents insurance companies and has asked the N.C. Department of Insurance for an average of 87.5% increase for fire policies and 53.4% for casualty policies.
If approved, the increase would be rolled out in two phases – the first in July and the second in July 2024.
Both programs provide property and liability coverage, and unlike standard homeowners’ programs, they also include flood coverage.
There are two ways to provide public comment – via email or the postal service.
Emailed public comments should be sent by Nov. 18 to: NCDOI.2022MH@ncdoi.gov.
Written public comments should be mailed to Mary Faulkner, to be received by Nov. 18 and addressed to 1201 Mail Service Center, Raleigh, N.C. 27699-1201.