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The North Carolina Bureau of Rates is requesting a 28.4 percent rate increase for auto insurance
RALEIGH – Insurance Commissioner Mike Causey announced today that the North Carolina Office of Rates has filed an application with the North Carolina Department of Insurance, requesting an increase for auto policies.
The filed request calls for an overall statewide average increase in private auto insurance rates of 28.4%, effective October 1, 2023.
The North Carolina Office of Rates represents auto insurance companies in the state and is not part of the North Carolina Department of Insurance. By law, the office must submit auto rate statements to the department every year by February 1.
Commissioner Causey and department staff will thoroughly review the request and determine whether or not the increase is justified based on the data submitted.
If the department does not agree with the requested increase, it can negotiate an agreement or call a hearing.