Rate Bureau requests rate increase in mobile home insurance

The N.C. Rate Bureau filed a request Friday to increase homeowners’ insurance rates for mobile home policies with the N.C. Department of Insurance.

It is the third insurance rate hike the bureau has made in the past two months to the N.C. Insurance Department, along with automotive and homeowner premiums increases.

The bureau is an independent group representing insurers writing policies in North Carolina. It typically asks for rate increases — some substantially higher in areas prone to damage from natural disasters such as hurricanes, floods and winter storms.

The bureau wants an overall statewide average of 19 percent increase for mobile home casualty policies and an overall statewide average of 19.9 percent increase for mobile home fire policies.

Read more: https://www.journalnow.com/news/local/rate-bureau-requests-rate-increase-in-mobile-home-insurance/article_cea427af-1a80-5079-ba71-69052e7fb8f2.html