A hearing has been scheduled for this fall on a request by companies that offer auto insurance in North Carolina for another rate hike, two years after a settlement was reached on an increase of 4.5% in each of the last two years.
State Insurance Commissioner Mike Causey has set September 22 as the hearing date for the North Carolina Rate Bureau’s proposed statewide average increase of 23%.
For drivers that live along the Outer Banks and in mainland northeastern North Carolina, companies are asking for comprehensive coverage rates to increase between 62% and 66% for new and renewing policies starting October 1…