Insurance premiums rise to North Carolina Business Owners
Business owners in Eastern North Carolina are feeling the brunt of recent hurricanes in significantly higher insurance premiums.
A new survey of 115 companies Southeastern reported that insurance companies are raising rates, in some cases as much as 100 percent, for companies and in other cases completely cancel policy.
Barbara and Molten L. Bradley, owner of Lou’s Quick Stop, are among the lucky ones: their policies jumped only 33 percent. Still, the Moltens were stunned when they got their bill last week and saw that the annual premiums for their small drive-through convenience store in Tarboro had increased to $ 1164 from $ 877th
“We both turned around,” said Barbara Molten. “We had no idea it was to be that a large part of a leap.”
The higher prices are an attempt to compensate for the insurer billion disbursed after the triple Whammy of hurricanes Fran in 1996, Floyd in 1999 and tropical storm Allison in June, said Dascheil Propes, the Institute for the insurance industry deputy chief.
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