NC Insurance Commissioner Causey writes in a press release that he saves NC homeowners approximately $777 million over 2 years
Last week, the North Carolina Department of Insurance ended its legal dispute with insurance companies on their proposed homeowners’ insurance rate increase filed in January 2024.
Under the agreement I signed with the N.C. Rate Bureau last week, the average statewide base rate will increase by 7.5% on June 1, 2025, and 7.5% on June 1, 2026.
Here are the changes broken down by territory.
The insurance companies original request for homeowners’ rates averaged 42.2% statewide, including up to 99.4% in beach areas in the southeastern area. I negotiated those numbers down to 15.5% over two years, with a maximum of 35% over two years in any territory. We consider this settlement a win for homeowners and for North Carolina.
In addition, this agreement prohibits the Rate Bureau from undertaking an effort to increase rates again before June 1, 2027.
While the settlement was a long process, I am proud of the efforts the department ultimately took to save homeowner’s money, one that is clearly outlined by state law. That amount is approximately $777 million in insurance premiums over the next two years compared to what the insurance companies requested. Since I took office in 2017, I have said “No” to every proposed increase sent by the Bureau.
As your Commissioner, I will always work hard to ensure our rates, which are some of the most affordable in the nation, remain as low as possible.
Insurance regulation in North Carolina is a balancing act. These rates are sufficient to make sure that insurance companies, who have paid out large sums due to increases in claims payments, have adequate funds on hand to pay future claims. Looking at the insurance climate and choices in other states, North Carolina is fortunate to have a healthy insurance market, giving consumers more choices than some other states.
If you need help with a claim or have a question about your homeowner’s insurance, we’re here to help. You can contact us by visiting www.ncdoi.gov, by calling 855-408-1212 or by emailing me directly at
Thank you and God Bless,
Mike Causey
N.C. Insurance Commissioner
