In 2023, insurers requested over 28% increase but settled with insurance department for 4.5% annually for two years.
The North Carolina Department of Insurance (NCDOI) announced that insurance companies have requested a statewide average 22.6% increase in automobile insurance rates.
The North Carolina Rate Bureau, which represents the automobile insurance companies in the state and is not a part of the Department of Insurance, filed the request with the Department on February 3. The insurance companies requested that the rates take effect on October 1, 2025
State law gives the Commissioner of Insurance 60 days to review the rate request
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