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Base rates for North Carolina homeowners’ insurance premiums will increase by about 15% next year

Hundreds of people spoke against a proposed homeowner's rate hike at a public hearing in Raleigh yesterday. The proposal from insurance companies averages 42% statewide, but it's nearly double for people on the coast
Public Radio East
File: Insurance Commissioner Mike Causey said the North Carolina Rate Bureau, which represents insurance companies, asked last year for a 42.2% overall average increase.

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

Insurance Commissioner Mike Causey said the North Carolina Rate Bureau, which represents insurance companies, asked last year for a 42.2% overall average increase.

Causey formally rejected the bureau’s request last year, which led to a formal hearing that included multiple weeks of witnesses, evidence and arguments.

Causey said the proposed rate increases “are sufficient to make sure that insurance companies, who have paid out large sums due to natural disasters and face increasing reinsurance costs due to national catastrophes, have adequate funds on hand to pay claims.”

The increases will vary based on location. The highest will be in parts of eastern North Carolina hit hard by Hurricane Matthew in 2016 and Hurricane Florence in 2018; for example, beach areas from Carteret to Brunswick counties will see an average 16% increase in mid-2025 and an additional 15.9% in mid-2026.

Annette is originally a Midwest gal, born and raised in Michigan, but with career stops in many surrounding states, the Pacific Northwest, and various parts of the southeast. An award-winning journalist and mother of four, Annette moved to eastern North Carolina in 2019 to be closer to family – in particular, her two young grandchildren. It’s possible that a -27 day with a -68 windchill in Minnesota may have also played a role in that decision. In her spare time, Annette does a lot of kiddo cuddling, reading, and producing the coolest Halloween costumes anyone has ever seen. She has also worked as a diversity and inclusion facilitator serving school districts and large corporations. It’s the people that make this beautiful area special, and she wants to share those stories that touch the hearts of others. If you have a story idea to share, please reach out by email to westona@cravencc.edu.