Commissioner Causey Negotiates 5% Annual Dwelling Rate Increase Over Two Years, Saving NC Consumers $268M
Summary
North Carolina Insurance Commissioner Mike Causey has settled a dwelling rate case with insurance companies, reducing the N.C. Rate Bureau's requested 68.3% two-year increase to an average statewide increase of 5% per year over the next two years. The negotiated settlement, effective October 1, 2026 and October 1, 2027, includes mitigation credits for consumers investing in fortified homes and roofs. A hearing on the proposed increase originally scheduled for July 6 has been canceled as a result of the settlement. Commissioner Causey stated the settlement saves North Carolina consumers more than $268 million compared to the insurance companies' original request.
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GovPing monitors NC Insurance Press Releases for new insurance regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 11 changes logged to date.
What changed
The N.C. Rate Bureau's requested statewide overall dwelling insurance rate increase of 68.3% over two years has been settled at 5% per year for each of the next two years, effective October 1, 2026 and October 1, 2027. The settlement applies as average statewide figures varying by territory and includes mitigation credits for consumers investing in fortified homes and roofs designed to withstand high-wind damage. Insurance companies writing dwelling policies in North Carolina will apply the negotiated rates rather than the originally requested higher rates, and the scheduled July 6 hearing is canceled. Dwelling policies covered include residential properties of no more than four units that are non-owner-occupied, such as rental or investment properties.
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Apr 22, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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RALEIGH Apr 22, 2026 Insurance Commissioner Mike Causey today announced that the N.C. Department of Insurance has settled a dwelling rate case with North Carolina insurance companies.
Commissioner Causey negotiated an average statewide increase of 5% per year over the next two years.
The N.C. Rate Bureau, which is not a part of the N.C. Department of Insurance and represents property and casualty insurance companies writing premiums in North Carolina, had requested a statewide overall increase of 68.3% over a two-year period. The Rate Bureau filed its requested increase on Oct. 30, 2025.
The initial 5% increase over current rates becomes effective on Oct. 1, 2026. The second 5% increase becomes effective on Oct. 1, 2027. The negotiated increases are average statewide figures, which vary by territory.
The settlement includes mitigation credits for consumers who invest in fortified homes and roofs aimed at helping withstand damage from high winds in many eastern North Carolina territories.
The settlement means that a hearing on the proposed dwelling rate increase scheduled for July 6 is no longer needed and has been canceled.
“I am happy that we have been able to save North Carolina consumers more than $268 million over what the insurance companies requested,” Commissioner Causey said. “I am delighted that many property owners who invest in fortified homes and roofs will be able to save on their insurance premiums.”
Dwelling insurance is different from homeowners’ insurance. Dwelling policies typically cover residences of no more than four units that are not the property owner’s primary residence or that are non-owner-occupied residences, such as rental properties or investment properties.
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