Скачать или смотреть NC Insurance Companies Propose Rate Hikes

ASHEVILLE, N.C. -- North Carolina Insurance companies are making their case for higher homeowner insurance rates by requesting an average 25 percent rate hike.

Companies say current rates aren't enough to cover their costs for damage claims and projections.

The insurance commissioner opened a public hearing on Monday to hear from the Rate Bureau, which represents the insurance carriers. The public has also been adding comments on the proposal.

The last time insurance companies received a rate increase was last July. The proposal won't be decided on until later this year.

AAA Insurance executives say they hope the Rate Bureau can reach an adequate compromise to insurance carriers aren't forced to leave the state and limit North Carolinians options to find affordable coverage.

By Frank Fraboni

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