NC auto insurance rates to hold steady for another year
WILMINGTON, NC (WWAY) — While North Carolina’s home insurers are asking for consumers to pay more for insurance, auto insurers have gone another year holding steady.
The North Carolina Department of Insurance says the annual auto insurance rate filing from the North Carolina Rate Bureau, which represents insurance companies, requests no change in rates for private passenger car and motorcycle insurance policies for the coming year.
DOI says the current rates have been in effect since a 2009 settlement that lowered car insurance rates to just below 2006 levels and delivered refunds totaling more than $50 million to approximately one million North Carolinians.
According to the National Association of Insurance Commissioners, North Carolina has the sixth-lowest average auto insurance costs in the nation.