Homeowner insurance rates set to rise significantly across the Wilmington area

Wilmington Star News

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Homeowner insurance rates set to rise significantly across the Wilmington area

The deal between NC and the insurance industry calls for an average 15% increase by mid-2026. But many coastal areas will see much steeper increases.

Carolina Journal

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Ownership

Insurance rates for homeowners will increase by an average of 15% throughout the state over the next two years, a significantly lower rate than the average rate increase of 42.2% sought by the North Carolina Tariff Office (NCRB). North Carolina Insurance Commissioner Mike Causey announced on Friday morning that his office and NCRB signed an agreement that will see the increase in the average base rate at the state level by 7.5% on June 1 and 7.5…