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The Independent UK

National

Via AP news wire

North Carolina home insurance premium base rates increasing about 15% by mid-2026

Insurance North Carolina The News Observer

Homeowners Insurance North Carolina - (Copyright 2023 The Associated Press. All rights reserved.)

Base rates for North Carolina homeowners' insurance premiums will increase on average by about 15% by mid-2026 as part of a settlement reached by the state Insurance Department and the industry.

The agreement announced Friday by Commissioner Mike Causey contrasts with the January 2024 request by the North Carolina Rate Bureau, which represents insurance companies, seeking a 42.2% overall average increase.

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