Property insurance rates increased on Sunday for homeowners in eastern North Carolina and across the state.
The N.C. Rate Bureau originally requested an average 42.2% increase last year, with proposed increases of up to 99.4% in some areas — including the ENC coast.
But under an agreement signed by North Carolina Insurance Commissioner Mike Causey and the Rate Bureau, the average statewide base rate increased by 7.5% this year and the same amount next.
However, Coastal areas in Carteret and Onslow Counties saw a more than ten percent increase in each of the next two years, and beach properties went up by about 16 percent.
Insurance rates in Duplin and Lenoir Counties increased by more than 13 percent. Bertie, Greene, Martin, Pitt, and Wayne County property owners will see a nearly 11 percent increase.
A breakdown of the increases is available HERE.
