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Your homeowners insurance...is about to go up - Greenville, NC | News | Weather | Sports - WNCT.com

Your homeowners insurance...is about to go up

Posted: Updated:
RALEIGH, N.C. -

Homeowners insurance rates aren't high enough, at least not high enough for insurance companies.

Tuesday the North Carolina Department of Insurance signed a settlement allowing a 7% overall statewide rate increase.
     
This all goes into effect July 1st.
     
Department of Insurance experts spent months studying the reasons for and against a rate increase.
     
They decided an increase was justified. But if there is any good news, it's that they didn't give insurance companies everything they wanted.
     
The companies asked for a nearly 18% rate hike. The Insurance Department only agreed to 7%.
     
The last time homeowners insurance rates went up was in 2009, when they asked for a 19%, but only got 4.

Click here to find out how much more you'll have to pay.

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