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Did NC Raise Auto Insurance Rates?

Robert MacNeil • May 8, 2024

If you’ve noticed a recent increase in your auto insurance premium  or you’re worried about possible changes, you’re not alone. North Carolina recently approved a change in auto insurance rates, affecting many drivers in Arden, Asheville, and Hendersonville. Here’s a breakdown of what’s happening and what it could mean for you.

Background on Rate Changes

Effective October 1, 2023, North Carolina saw a statewide increase in auto insurance rates following negotiations between the North Carolina Rate Bureau (NCRB) and Insurance Commissioner Mike Causey. The approved changes include:

  • Private Passenger Vehicles: An average increase of 4.5% for car owners.
  • Motorcycles: An average increase of 2.3%【source†(1)】【source†(2)】

These changes stem from rising claims costs, medical expenses, and the increasing complexity of modern vehicle repairs.

How Will This Impact Drivers?

  • Current Policyholders: You might see a difference in your premium when it’s time to renew. It’s essential to review your policy and ensure you’re getting the best coverage for your needs.
  • New Policy Seekers: If you’re shopping for insurance, this increase means finding a policy that fits your budget requires careful consideration.

Adams & Brown’s Expertise

Navigating rate changes  can be confusing, but Adams & Brown Insurance Agency is here to help. With years of experience and deep local knowledge, our agents are ready to guide you through the changes. We’ll help you understand how the new rates affect your current coverage or your search for a new policy.

Maintaining Affordable Coverage

Even with rate increases, there are steps you can take to keep your coverage affordable:

  • Bundle Policies: Combine your auto insurance with home or renters insurance  for potential discounts.
  • Higher Deductibles: Raising your deductible could lower your monthly premium.
  • Safe Driving Discounts:  Keep a clean driving record or complete defensive driving courses to qualify for lower rates.
  • Regular Review:  Review your policy with a knowledgeable agent to ensure it still fits your current needs and budget.

Get a Quote Today

Want to see how the rate changes affect you? Contact Adams & Brown Insurance Agency  today for a personalized auto insurance policy quote in Asheville, NC, and surrounding areas. We’ll work closely with you to find the right coverage at a fair price.

Trust Adams & Brown Insurance Agency in Arden, NC – your local partner for auto insurance near Asheville and Hendersonville .

Contact us for a consultation or to get a quote at (828) 681-0790 or fill out our online form . Together, we’ll find the best path forward for your auto insurance needs in Asheville, NC.

References:

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