For Immediate Release: December 1, 2016

Insurance Companies Request Rate Hike for Dwelling Policies

Public Comment period runs from Dec. 2 through Dec. 30

RALEIGH -- The North Carolina Department of Insurance received a Dwelling Insurance rate filing from the N.C. Rate Bureau on Wednesday, Nov. 30. The N.C. Rate Bureau, which is not part of the Department of Insurance and represents all companies writing property insurance in the state, has requested a statewide average rate increase of +19.6 percent, varying by territory, with a requested effective date of July 1, 2017. This filing includes a requested decrease of -16.6% for Fire policies and an increase of +37.3% for Extended Coverage (wind) policies, for a total statewide average increase of +19.6%.

Dwelling insurance policies are not homeowners insurance policies; dwelling policies are offered to non-owner occupied residences including rental properties, investment properties and other properties that are not occupied full-time by the property owner.

The Rate Bureau has also requested revisions to the current geographic rating territories. The proposed territory revisions are the same territory definitions applicable to homeowners’ policies.

The filing will be reviewed by Department of Insurance experts to determine what, if any, rate adjustments are warranted. If NCDOI and the N.C. Rate Bureau do not initially agree on the proposed rate changes, a public hearing will be called in which both parties would present their cases for or against rate adjustments.

The North Carolina Department of Insurance will not rule on this filing until 2017.

The filing is available for public review on the Department of Insurance website ( and the SERFF Filing Access ( Enter the SERFF Tracking Number NCRI-130822384.

Opportunity for Public Comment

For people who would like to weigh in on the rate requests in person, there will be a public comment session on Tuesday, December 20, 2016, 10:30 a.m. to 4 p.m. in the Jim Long Hearing Room of the Dobbs Building, 430 N. Salisbury St., Raleigh.

Written public comments will be accepted from December 2 through December 30, 2016. Written comments should be mailed to: NCDOI, Attn: Bob Mack, Property & Casualty Division, 1201 Mail Service Center, Raleigh, NC 27699-1201; or emailed to