Hurricane Florence caused significant damage when it came ashore to the Carolinas last September. North Carolina felt the brunt of the devastation, with nearly 36 inches of rainfall and storm surges reaching 10 feet. The National Oceanic and Atmospheric Administration estimates total damage at $24 billion, mostly as a result of flooding.
This record hurricane season could lead to major home insurance rate increases in North Carolina later this year. In December 2018, the North Carolina Rate Bureau proposed a homeowners insurance rate increase of 17.4%. If passed, the increase would … (0 comments)
Impact of North Carolina’s Record Hurricane Year on Homeowners and Insurance Rates
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