North Carolina auto insurance customers will be paying more for coverage

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Rates are expected to rise for many drivers in October, though the increase is less than what it might have been. North Carolina auto insurance rates may be on the rise in October, but drivers could have seen a much higher hike if regulators hadn’t stepped in. The state Department of Insurance signed a settlement agreement with the N.C. Rate Bureau to allow for a considerably lower rate increase than initially proposed. Insurance Commissioner Mike Causey made the announcement regarding the settlement agreement signing. Initially, the state Rate Bureau requested…

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Auto insurance rates are strikingly higher in some states than others

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A new study has revealed a major difference in premiums and Alabama drivers continue to pay more. Quadrant Information Services and insuranceQuotes.com have jointly released an auto insurance rates study. Within it, they named Alabama as the fourth most expensive state for drivers to be insured. The research examined some of the factors that play a role in making this coverage more expensive. What was found was that Alabama drivers pay more in auto insurance rates because of state regulations. Insurance companies in the state are permitted to use driving…

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North Carolina legislation could reduce auto insurance premiums

House committee approves legislation to provide restricted licenses to undocumented residents A legislation approved by a North Carolina House Finance Committee could make auto insurance premiums lower for drivers in the state. The legislation would grant limited driving privileges to undocumented immigrants. These people would be required to have auto insurance coverage, as mandated by the federal government and state law, and the influx of new consumers could be good news for other drivers in the state. Insurance rates could go down by a modest degree because of the new…

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North Carolina auto insurance tax will contribute to roadway maintenance

north carolina auto insurance

Higher taxes for gasoline and a range of other fees will help to keep the highways in the state paved. North Carolina has had to come up with a new plan to pay for the construction and maintenance of highways in the state, and it has now rolled out a plan that will use taxes on gasoline and auto insurance as well as increased vehicle fees in order to help to ensure that the funds that are needed will be available. The reason that the additional revenue streams are required…

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New regulations target auto insurance laws in North Carolina

north carolina auto insurance

Regulations could benefit drivers in North Carolina New regulations may have a major impact on drivers throughout North Carolina, if they are approved by the state’s lawmakers. These regulations would change the state’s auto insurance laws, which were created in 1957 and have seen little reform over the years. The regulations have managed to win strong support from the state’s insurance companies, many of whom are eager to see changes to insurance laws in order to better manage modern trends and risks in the state’s market. Insurers show support for…

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Legislation removes rate caps on auto insurance in North Carolina

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New legislation removes rate limitations on auto insurers New legislation could remove North Carolina’s limits on auto insurance rates. Currently, the state’s insurance companies are required to adhere to rules that place limits on how much they can charge for auto insurance every year. These limits are determined by Insurance Commissioner Wayne Goodwin, along with other regulators, and are meant to provide consumers with some degree of financial protection. The new legislation will change this, allowing insurers to opt out of the current regulatory structure and have more control over…

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New regulations target auto insurance laws in North Carolina

north carolina auto insurance

Regulations could benefit drivers in North Carolina New regulations may have a major impact on drivers throughout North Carolina, if they are approved by the state’s lawmakers. These regulations would change the state’s auto insurance laws, which were created in 1957 and have seen little reform over the years. The regulations have managed to win strong support from the state’s insurance companies, many of whom are eager to see changes to insurance laws in order to better manage modern trends and risks in the state’s market. Insurers show support for…

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