FYI - Homeowner's Ins Rates to go up ..... (Raleigh, Asheville: homeowners insurance, crime)
Western North CarolinaThe Mountain Region including Asheville
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.... an AVERAGE of 18.7% which could be a significant chunk of change for many people. And that's after the 10% hike we are seeing in our auto ins premiums.
From the NCDOI home page
"The N.C. Rate Bureau is proposing to raise homeowner's insurance rates an average of 18.7 percent. The North Carolina Department of Insurance is taking public comments on its proposal via email or mail until Dec. 29th. To give your input, send comments via email to 2017HomeInsurance@ncdoi.gov or mail to Tricia Ford, 1201 Mail Service Center, Raleigh, NC 27699-1201."
Wow...
I will be curious to see what our Mtn home insurance is next year.
It has been creeping up every year, and after a few years of 'creep', (that creep adds up after a decade or two), I had a long discussion with our local agent.
I was able to peel back some of the dedicated line items, eg temporary housing costs, replacement of inside stuff, (not collectables and specialty insured items), et al.
But, it has increased every year. Odd, because our $2Mill Umbrella actually goes down a bit, every year.
And, our 3 cars/3 m'cycles are all insured through same big company and same local agent...
We shall see. Thank you for the heads up. I am going to nose around on that site.
BR, mD
PS: Otoh, it can't possibly increase like my wife's NC BCBS has: from $680 a month to $1300 a month for her Major Med Only coverage.
Aren't monopolies great, said no one ever.
I opened our auto ins bill today and called our agent to ask about the 10% increase. The reason given is the NC ins board permitted a 10% increase as of last Oct and that it applies across the state to all insurance companies. That's what sent me looking for more information and I found the homeowner's ins info. We will be looking around and shopping this out which I really hate to do - a lower introductory rate for a year or two then doing it all over again is not only a PITA but it means never developing a relationship with an agent over time and if/when you need to file a claim having that relationship helps.
My question to those of you who are more knowledgeable - is this the way all/most states operate in terms of insurance premiums? A state board regulates and approves rate increases so all companies make the jump at a time? Maybe it was that way in IL and I just never knew but we also had an agent there who stayed on top of things and was proactive in advising.
Regarding introductory rates... I never understood why companies (insurance, cable, etc) seem to value new customers more than long-time customers. It seems that they should do the reverse... lower rates every few years for customers who have demonstrated loyalty.
Regarding introductory rates... I never understood why companies (insurance, cable, etc) seem to value new customers more than long-time customers. It seems that they should do the reverse... lower rates every few years for customers who have demonstrated loyalty.
Must be a corollary to the perversity of inanimate objects!!
Can anyone offer an idea about homeowners insurance in western NC? We just got back (yesterday) from a house hunting/scouting trip to the Asheville area and felt like we got a decent idea about property tax rates and how much houses are going for etc., but homeowners insurance rates remain a little elusive. We looked at a couple of houses in the Hendersonville area in the $400 - $450k range. I realize that insurance rates can be tricky, but how much (approx) might a homeowner expect to pay for coverage on such a house? We live in the Tampa Bay Area and would love to escape our $5k+ insurance bills. We'd also like to escape the heat, humidity and crime, but that's another story...
By the way, we were very impressed with Hendersonville and the lovely people there; can't wait to go back!
Can anyone offer an idea about homeowners insurance in western NC? We just got back (yesterday) from a house hunting/scouting trip to the Asheville area and felt like we got a decent idea about property tax rates and how much houses are going for etc., but homeowners insurance rates remain a little elusive. We looked at a couple of houses in the Hendersonville area in the $400 - $450k range. I realize that insurance rates can be tricky, but how much (approx) might a homeowner expect to pay for coverage on such a house? We live in the Tampa Bay Area and would love to escape our $5k+ insurance bills. We'd also like to escape the heat, humidity and crime, but that's another story...
By the way, we were very impressed with Hendersonville and the lovely people there; can't wait to go back!
I own 2 houses in Asheville, (one valued at 900K the other at 500K) and a third in Weaverville valued at 450K. My total insurance bill ifor all 3 houses is less than 5K.
Regarding introductory rates... I never understood why companies (insurance, cable, etc) seem to value new customers more than long-time customers. It seems that they should do the reverse... lower rates every few years for customers who have demonstrated loyalty.
Can anyone offer an idea about homeowners insurance in western NC? We just got back (yesterday) from a house hunting/scouting trip to the Asheville area and felt like we got a decent idea about property tax rates and how much houses are going for etc., but homeowners insurance rates remain a little elusive. We looked at a couple of houses in the Hendersonville area in the $400 - $450k range. I realize that insurance rates can be tricky, but how much (approx) might a homeowner expect to pay for coverage on such a house? We live in the Tampa Bay Area and would love to escape our $5k+ insurance bills. We'd also like to escape the heat, humidity and crime, but that's another story...
By the way, we were very impressed with Hendersonville and the lovely people there; can't wait to go back!
Home value is only one of the factors used for home insurance - they look at crime stats, proximity to fire station and hydrants and on and on. We just built a house in Henderson county, insured value is in the $450 range and our homeowner's ins is under $1k.
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