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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Auto insurance rates remain stable in North Carolina

North Carolina Auto Insurance

North Carolina’s insurers are not seeking to raise rates for auto coverage this year North Carolina drivers have received some good news from the state’s Department of Insurance. According to Insurance Commissioner Wayne Goodwin, the Department of Insurance has received no rate filing from the North Carolina Rate Bureau. This means that the state’s auto insurance companies have not sought to increase premiums this year. This may provide the state’s drivers with some relief as they will not have to pay more for insurance coverage this year. Past settlement with…

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Allstate to drop policies for homeowners that have not bundled their auto insurance policies. Other insurers may follow example

In North Carolina, some 70,000 homeowners are on the verge of losing their insurance coverage if they do not purchase auto insurance from Allstate. The large insurer announced last year that it would be dropping customers who did not bundle their property and auto insurance together through the company. Allstate’s plan affects nearly 50,000 consumers throughout the state, but the North Carolina Farm Bureau Mutual Insurance Co., the third largest property insurer in the state, is following Allstate’s example and may drop roughly 20,000 policyholders if they do not get…

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Policyholders to pay lower rate for fire coverage on rental dwellings in North Carolina

Wayne Goodwin, the North Carolina insurance commissioner, has ordered a decrease in the landlord insurance property rates by 7.3 percent, at the same time that a request by the industry to increase the rates for extended insurance coverage by 36.1 percent was denied. The rates generally fluctuate from part of the state to the next. The insurance industry group called the North Carolina Rate Bureau had been seeking to increase premiums paid by policyholders the area of Fayetteville by 25 percent for non owner-occupied properties. Some of the affected policyholders with rental…

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