N.C. auto insurance rates to rise 2.2%

N.C. auto insurance rates to rise 2.2%

Auto insurance rates paid by North Carolina consumers will rise an average of 2.2% this year, the first rate hike in more than a decade. Insurance Commissioner Mike Causey says his office reached a settlement with the N.C. Rate Bureau, which in February had requested a 13.8% rate hike for the industry. The Rate Bureau represents all insurers doing business in the state. As part of the settlement, the Rate Bureau has agreed not to request a rate hike next year.

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