North Carolina tops list for homeowners insurance study

Many people don't realize that if your credit score drops, homeowners insurance can go up.

Three states say that's illegal, but of all the rest, North Carolina is the best.

Laura Adams works for the consumer group Insurance Quotes.

Insurance Quotes recently released a study that looked at how much credit impacts home insurance, and then ranked the states.

North Carolina was ranked no. 1. South Carolina was no. 30.

"Many people are surprised to find out that credit impacts home insurance," Adams said.  "Good news for North Carolina homeowners with bad credit; basically, you are not getting dinged for that."

Homeowners in other states face a much different story.

For example, the study said homeowners insurance in Arizona jumped an average of 75 percent when credit dropped from excellent to fair.

In Oregon and Montana, insurance increased went up to 66 percent. In South Carolina, insurance rose 48 percent. But North Carolina went up .15 percent.

"That's pretty cool that homeowners insurance stays the same," said homeowner Jason Allen.

"That's impressive. I wouldn't have thought that, but that's great news," said homeowner Brad Tomlinson.

In North Carolina, if your credit goes up, don't count on a discount.

Tell your homeowner insurance company just in case and say it this way: "I want to be 're-rated.'”

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