LATEST NEWS
Time to Change North Carolina’s Unique (and Antiquated) Rate Bureau System?By Jerry Theodorou | July 9, 2025
Insurance Journal
Insurance markets differ in important ways from state to state, and North Carolina’s stands out for two reasons. First, insurers responded to an exceptionally catastrophic storm in 2024—Hurricane Helene. The Tar Heel State bore $60 billion of the hurricane’s $80 billion in damages. Second, North Carolina is the only state that continues to promulgate insurance rates using its own statistical rate bureau. This Real Solutions analysis explains the dynamics of the state’s homeowners’ insurance market and presents solutions to strengthen it, advancing the twin objectives of policyholder protection and insurer solvency. Read more
Higher auto insurance bills on the way for many in NC, especially new drivers
Will Doran, WRAL News, 7/02/25
Many drivers in North Carolina could now pay more for auto insurance under changes to state law that went into effect this week. People who are about to start driving can now be charged significantly more for their auto insurance under the law that went into effect Tuesday. While the change applies to all new drivers, it could disproportionately affect teens or parents who assist with their insurance costs. Other new changes are aimed at raising rates on people with multiple speeding tickets or other dangerous driving habits, or who have the minimum level of coverage. The increases from the new laws, which passed the legislature with bipartisan support, are in addition to rate increases that will also go into effect in October for all drivers in the state. The state’s insurance commissioner is charged with negotiating rates with insurance providers. The insurance industry won permission from state Insurance Commissioner Mike Causey to raise rates by an average of 5% on North Carolina drivers starting in October. Causey negotiated that increase after rejecting the industry’s original request for a nearly 23% rate hike. Read more
Drivers have the right to pick their repair shop after an accident
June 26, 2025, WRAL
Drivers in North Carolina will soon pay an average of 5% more for car insurance. 5 On Your Side's Keely Arthur looks at how our rates compare to other states.7. Read more
NC homeowners’ insurance rates rose over the weekend
June 2, 2025, Theresa Opeka, The Carolina Journal
Homeowners’ insurance rates went up over the weekend, making owning a home in North Carolina more expensive. Rates increased on average by 7.5% as of June 1 and will rise another 7.5% on June 1, 2026. The increases were part of an agreement between North Carolina Insurance Commissioner Mike Causey’s office and the North Carolina Rate Bureau (NCRB), which represents homeowners’ insurance companies in North Carolina. He announced the agreement in January. The increase is significantly lower than the 42.2% rate increase the NCRB was originally seeking. In addition, the agreement prohibits the Rate Bureau from undertaking an effort to increase rates again before June 1, 2027. Read more
New bill would make grants for storm-proofing tax-free for homeowners
Mar 5, 2025, Liz McLaughlin, WRAL Climate Change Reporter
A new bipartisan bill introduced in Congress aims to remove federal taxes on disaster mitigation grants, a move that could make stormproofing homes more affordable for North Carolinians. The Disaster Mitigation and Tax Parity Act, co-sponsored by Rep. Greg Murphy, R-N.C., and Rep. Doug LaMalfa, R-Calif., would exclude catastrophe mitigation payments from taxable income, ensuring that homeowners who receive grants to strengthen their homes against hurricanes, floods and wildfires don’t face a tax burden. “Catastrophe mitigation payments used to improve natural disaster resilience should not be treated as a source of income, and North Carolinians should not be taxed for them,” Murphy said in a statement. The bill could have a major impact on North Carolina’s coast, where programs like Strengthen Your Roof provide grants to homeowners to fortify their roofs against hurricane-force winds. But currently, those grants are considered taxable income by the IRS. Read more
Vehicle Inspections
Ben Gibson, Statesville Record & Landmark, 3/03/25
A bill in the General Assembly could more than double the cost of vehicle safety and emission inspection fees for North Carolina residents. If passed, the total price an inspection station or an inspection mechanic can charge would rise to $29.15 for safety inspections and $40.15 for safety and emissions. Current fees are $12.75 and $23.75, respectively. The bill would maintain the $0.85 administrative fee the Department of Motor Vehicles receives on safety inspections and $6.25 for safety and emission inspections. House Bill 153, sponsored by Rep. Jeff McNeely, has put the Iredell County representative on the receiving end of criticism from voters. Fellow Republicans Howard Penny Jr., Ben T. Moss Jr. and David Willis are joined by Democrat Pricey Harrison in sponsoring the bill. Read more
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