Why Did My Car Insurance Go Up in North Carolina?

Car insurance rates can increase even without any claims or changes on your driving record. The most common reasons are statewide rate increases approved by the NC Department of Insurance, higher vehicle repair costs industrywide (auto parts and labor have risen significantly), and increased medical costs associated with injury claims. Your carrier may also have reassessed your territory's claim frequency or adjusted how it uses credit-based insurance scores in pricing.

North Carolina auto insurance rates are regulated by the NC Department of Insurance through the NC Rate Bureau. Rate changes must be filed with and approved by the state before carriers can implement them. When a rate change is approved statewide, all policyholders with a carrier that accepted the change will see it reflected at their renewal. Check ncdoi.gov for recent auto insurance rate filings in North Carolina.

In most cases in North Carolina, a not-at-fault accident should not result in a surcharge on your policy. However, some carriers do consider not-at-fault claims in their pricing, and multiple not-at-fault incidents may factor in. If you believe a not-at-fault claim is incorrectly affecting your premium, review your policy and ask your agent to clarify the rating factors applied at renewal.

Yes. Most North Carolina auto insurance carriers use a credit-based insurance score as one factor in pricing. A lower credit score can result in higher premiums with carriers that weight this factor heavily. If your credit score has declined, that may be contributing to a higher auto insurance rate. Shopping with an independent agent lets you compare carriers that weight this factor differently.

The fastest ways to lower your car insurance rate in North Carolina are: (1) shop with an independent agent who compares 25+ carriers simultaneously, since different carriers price the same driver very differently; (2) bundle your auto with your homeowners or renters insurance for a multi-policy discount; (3) ask about telematics or usage-based programs that reward safe driving; (4) increase your deductible if you can absorb a higher out-of-pocket cost; and (5) review your vehicle coverage levels to make sure you are not paying for coverage that no longer makes sense for the age and value of your vehicle.

Yes. You can get quotes from other carriers at any time without canceling or affecting your current policy. If you find a better rate, you can switch at your renewal date to avoid any short-rate cancellation penalty, or you can cancel mid-term if the savings are significant enough (most carriers will refund the unused pro-rated premium). IronHaven Insurance can shop your auto insurance across 25+ carriers without any obligation. Call (919) 249-8448.