Homeowners · Settled

Rate Bureau requested 24.5%; settled at 7.9% effective April 1, 2021

Filed
December 8, 2020
Requested
+24.5%
Approved
+7.9%
Effective
April 1, 2021

Requested: Statewide average requested. First-pass entry — verify against the circular.

Outcome: Settlement with the Department of Insurance. First-pass entry — verify.

What this filing means

The Rate Bureau requested a 24.5% statewide average increase. The settled statewide average was 7.9%, effective April 1, 2021. Coastal territories moved more than inland ones.

Timeline

  1. April 1, 2021 · Took effect

    7.9% took effect

    The settled rates applied to new and renewal policies written on or after this date.

    NCRBApr 1, 2021

  2. February 17, 2021 · Settled

    Settled at 7.9%

    The settlement set a 7.9% statewide average, with coastal territories moving more than inland ones.

    NCDOIHO-2021-SETTLEMENTFeb 17, 2021

  3. December 8, 2020 · Filed

    Rate Bureau filed a 24.5% homeowners request

    The Rate Bureau filed for a 24.5% statewide average increase.

    NCRBP-20-12Dec 8, 2020

Approved change by territory

A single approved statewide average is distributed unevenly across the rate territories. This is the per-territory outcome for this filing.

Approved percentage and effective date for each rate territory in this filing.
TerritoryApprovedEffectiveCounties
110 — Beach Area and Ocean Front+11.4%April 1, 2021Brunswick, Carteret, Dare, New Hanover, Onslow, Pender
120 — Coastal Remainder+10.1%April 1, 2021Beaufort, Camden, Chowan, Currituck, Hyde, Pamlico, Pasquotank, Perquimans and 2 more
130 — Eastern Coastal Plain+8.6%April 1, 2021Bertie, Bladen, Columbus, Craven, Duplin, Gates, Greene, Hertford and 7 more
140 — Northeastern Piedmont Plain+7.8%April 1, 2021Edgecombe, Franklin, Granville, Halifax, Harnett, Johnston, Nash, Vance and 2 more
150 — Sandhills+7.5%April 1, 2021Anson, Chatham, Cumberland, Hoke, Lee, Montgomery, Moore, Richmond and 2 more
160 — Charlotte Metro+7.1%April 1, 2021Cabarrus, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and 1 more
170 — Triad+6.8%April 1, 2021Alamance, Caswell, Davidson, Davie, Forsyth, Guilford, Person, Randolph and 4 more
180 — Triangle+7.0%April 1, 2021Durham, Orange, Wake
190 — Foothills and Northern Mountains+6.2%April 1, 2021Alexander, Alleghany, Ashe, Avery, Burke, Caldwell, Catawba, McDowell and 4 more
200 — Western Mountains+5.4%April 1, 2021Buncombe, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon and 5 more

Documents