Base rates for North Carolina homeowners' insurance premiums will increase on average by about 15% by mid-2026 as part of a settlement reached by the state Insurance Department and the industry. The agreement announced Friday by state Insurance Commissioner Mike Causey contrasts with the January 2024 request by the North

North Carolina homeowners’ insurance base rates will rise by 15% statewide by mid-2026 under a settlement between the state Insurance Department and insurers. The deal, announced by Commissioner Mike Causey, avoids the 42.2% hike initially requested by insurers, which cited inflation, storm costs, and insufficient premium rates as factors.

From SamWalkerOBXNews.com A settlement between homeowners insurance companies and state regulators has been reached that will lead to policies costing more across northeastern North Carolina and the Outer Banks over the next two years.

Homeowners’ insurance rates will increase on average by 15% statewide over the next two years, a significantly lower rate than the average 42.2% rate increase the North Carolina Rate Bureau

While officials leading the efforts like Insurance Commissioner Mike Causey are calling it a big win, homeowners say they’re anticipating the financial pain.