The North Carolina Rate Bureau has filed a request with the N.C. Department of Insurance to increase insurance rates for mobile home policies.
The NCRB, which represents insurance companies and is not a part of the N.C. Department of Insurance, has requested an overall statewide average of 24.9% increase for MH-F (Fire) policies and an overall statewide average of 11.3% increase for MH-C (Casualty) policies. Both MH-F and MH-C programs provide property and liability coverage.
Unlike standard homeowners’ programs, both the MH-F and MH-C programs include flood coverage. The two programs are similar. However, the MH-F program provides coverage for a broader range of perils. The requested effective date for the increase is Nov. 1.
The public will have an opportunity to comment on the NCRB proposal. There are two ways to provide public comment:
- Emailed public comments should be sent by April 16, 2021, to: [email protected].
- Written Public comments should be mailed to Sharron Lewis, to be received by April 16, 2021, and addressed to 1201 Mail Service Center, Raleigh, N.C. 27699-1201.
All public comments will be shared with the NCRB.