Special to IFN

RALEIGH — The N.C. Rate Bureau has requested an overall 68.3 percent statewide average rate increase for dwelling insurance policies, with the proposed implementation over a two-year period.

Dwelling insurance policies are not homeowners’ insurance policies. Dwelling policies are offered to non-owner-occupied residences of no more than four units, including rental properties, investment properties and other properties that are not occupied full time by the property owner.

The Rate Bureau represents the insurance companies in the state and is not a part of the N.C. Department of Insurance.

The Rate Bureau filed the proposed increase with the Department of Insurance on October 30. The proposed year one average increase of 28.5 percent would take effect on July 1, 2026, with the proposed year two average statewide increase of 30.9 percent taking effect on July 1, 2027.

The proposed changes are averages and vary by territory.

The last time the Rate Bureau made a dwelling rate filing was in July 2023, when it requested an average statewide increase of 50.6 percent. After negotiation, the Department of Insurance and the Rate Bureau reached a settlement for an overall average rate increase of 8 percent.

Opportunity for public comment

People wanting to comment on the rate request may do so in one of two ways:

♦ Emailed public comments should be sent to 2025DwellingandFire@ncdoi.gov.
♦ Written public comments should be mailed to Kimberly W. Pearce, Paralegal III, 1201 Mail Service Center, Raleigh, NC 27699-1201.

All emailed and written comments must be received by November 19.

All public comments will be shared with the N.C. Rate Bureau. If the Department of Insurance officials do not agree with the requested rates, the Department will negotiate with the Rate Bureau. If a settlement cannot be reached within 50 days, a hearing will be called.