Homeowners insurance could jump

December 10, 2008 9:00:00 PM PST
The state insurance commissioner says he plans to make a decision soon on a proposal to increase insurance premiums for North Carolina homeowners by an average of nearly 20 percent.The plan is being pushed by the North Carolina Rate Bureau. The industry group wants rate increases that vary by region, from 1 percent in Charlotte to a nearly 70 percent jump in Wilmington and Jacksonville.

Commissioner Jim Long says the proposal isn't a done deal. His office has a record of allowing rate increases that are lower than what the insurance companies ask for.

Long will leaves office next month. His deputy, Wayne Goodwin, was elected in November.


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