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Guess again

Compare national rates and you'll find that we have one of the narrowest spreads between highest and lowest costs in the country. The Insurance Commission sets a window and all companies have to opperate within that window. Any company that wants to operate below that is not allowed to, and yes, there are small, start up independents that want to....even some giants. Prudential stayed out of North Carolina for many years because they felt they lost their main competitive advantage if forced to set the rates at the same level as all their competitors. The state has a right and reason to set rates for naturally evolving monopolies, such as your electric provider. As for insurance, however, with the number of companies willing to sell insurance to you, they need to back off and let the market set prices. Your rates would likely come DOWN, especially if the state got out of that high risk re-insurance pool, or whatever it's called. High risk drivers need to pay through the nose, and good drivers should not be subsidizing them. But that's your Insurance Commission at work...


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