Local News

Insurance industry requests rate increase

Posted December 10, 2008 8:18 p.m. EST
Updated December 10, 2008 10:37 p.m. EST

— The North Carolina Rate Bureau submitted a rate filing on Monday with the state Department of Insurance requesting a 19.5 percent statewide average increase in homeowners insurance.

In Wake and Durham counties the rates would increase by 33 percent. The requests along the Coast range up to 70 percent.

Insurance industry officials said they've been considering these increases for more than a year.

In order to take effect, the request would have to be approved by state officials.