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Group Fights To Stop Big Insurance Hike In The East

The fight is on to stop what could be a huge hike in homeowners insurance rates in Eastern Carolina.

Homeowners in dozens of counties in the east considered to be coastal counties could see rates skyrocket by 30-percent by next June.

NC 20, a group looking out for those areas, is working to stop it. The group met Wednesday in Morehead City to discuss the most recent rate request, which they call unfair. They say the increase is not based on previous hurricane losses, but on future ones, which have been predicted through a computer model.

The increase is expected to affect 18 counties in Eastern Carolina, and some say during these tough economic times, many families won't be able to afford the extra cost and be forced to move.

Willo Kelly is the Service President of NC 20. "30 percent may seem relatively low, but because of the large amount of rate that we pay now, which is 5 times higher than other areas in the state, it is a huge cost increase for policy holders in Eastern Carolina, especially for those who are young military families that are new home owners, people that are on fixed incomes that have a mortgage, coming up with that extra 100 dollars a month, etc. is a huge impact."

There will be a public comment period on this proposal Wednesday, October 17th in Raleigh from 9:30 a.m. to 4:00 p.m. at the Dobbs building.


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