Time racing for comment on NC home insurance hike

Associated Press

RALEIGH, N.C. (AP) — Time is running out for North Carolina homeowners to offer their view of a proposal by insurance companies doing business in the state to increase premiums by an average of nearly 18 percent next year.

Friday is the deadline to submit comments by mail or e-mail to the state Insurance Department.

The department had received more than 3,900 emailed or written comments by Thursday. More than two dozen people made comments in-person during a public comment session on Wednesday.

The department will decide whether any rate increase is warranted, and if so how large it should be. If regulators and the companies can't agree on rate changes, they'll each present their arguments at a public hearing.

Any homeowner's insurance rate increase would be effective on policies taking effect in June.