Last February, the North Carolina Rate Bureau requested a 22.6% increase in auto insurance rates for Tarheel drivers. This week, that proposed increase took another step toward reality.
The rate bureau, which represents insurers across the state, presented its case for the increase to Mike Causey, North Carolina’s Insurance Commissioner, at a hearing.
Dr. David Pooser, an associate professor of risk management and insurance at East Carolina University, told television station WITN that the rate bureau would make such a proposal if it believes its losses will rise soon.
Causey has previously opposed the rate increase, saying a 22.6% hike is too much for North Carolina drivers.
Drivers in the state pay the lowest average car insurance rates in the nation, averaging $1,056 per yea