Bladen homeowners to see drop in
homeowners will see their insurances rates drop by
more than nine percent in the second half of 2015
following a ruling announced Friday by N.C.
Insurance Commissioner Wayne Goodwin.
denied a request from the North Carolina Rate Bureau
that sought an 18.3 percent rate increase for Bladen
County homeowners, but approved a request to change
Bladen's geographic rating territory. Bladen remains
grouped with Robeson County, but is no longer
grouped with Columbus County.
which is not affiliated with the Department of
Insurance and represents the property insurance
companies writing business in the state, also had
requested a 55 percent rate increase for renter's
insurance and condominium rates in Bladen County. In
Goodwin's ruling, renter's insurance rates in Bladen
County will remain unchanged while condominium rates
will increase less than one-half percent beginning
July 1, 2015.
"The rates I have ordered are
the result of the most thorough inspection of North
Carolina homeowners insurance rates in more than 20
years," Goodwin said. "After considering all of the
evidence and data available, I have determined that
no factors or events justified the excessive rates
requested by the insurance companies."
Bureau had requested an average 25.3 percent rate
increase statewide for all forms of home insurance,
including a 24.5 percent increase for homeowners.
However, statewide, Friday's ruling will result in
homeowners insurance rates decreasing 0.3 percent,
renter's insurance rates increasing 11.2 percent,
and condominium owner's insurance rates to increase
by 8.1 percent.
The ruling states that
beginning July 1, 2015, homeowners rates in Bladen
County for a frame house will drop from $741 to $671
for $75,000 coverage. Renter's insurance rates will
be remain at $56 for $10,000 coverage. Condominium
rates will increase from $52 to $54 for $10,000
To read the order, go to