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Breaking: Proposed 42.2% Homeowners Insurance Rate Hike in North Carolina - What Real Estate Professionals Need to Know

In a significant development, the North Carolina Rate Bureau has requested an average statewide increase in homeowners’ insurance rates by a staggering 42.2%, effective August 1, 2024.

This proposal, if approved, could have a profound impact on homeowners across the state.


This request follows a previous filing in November 2020, where a 24.5% increase was proposed, later negotiated down to 7.9%. The North Carolina Rate Bureau, representing insurance policy writers in the state, is distinct from the North Carolina Department of Insurance.

County-Specific Impact

The proposed increases vary significantly by county. For instance, coastal areas such as Brunswick and Carteret counties could face a whopping 99.4% increase, while more inland counties like Haywood County are looking at a more moderate 4.3% rise.



Beach areas in Currituck, Dare and Hyde Counties


Beach areas in Brunswick, Carteret, New Hanover, Onslow and Pender Counties


Coastal areas in Currituck, Dare, Hyde and Pamlico Counties


Eastern Coastal areas of Brunswick, Carteret, New Hanover, Onslow & Pender Counties. Eastern Coastal area zip codes: 28403, 28404, 28405, 28406, 28407, 28408, 28409, 28410, 28411, 28412, 28422, 28428, 28443, 28445, 28459, 28460, 28461, 28462, 28467, 28468, 28469, 28470, 28480, 28511, 28516, 28520, 28524, 28528, 28531, 28532, 28533, 28539, 28553, 28557, 28570, 28577, 28579, 28581, 28584, 28589


Coastal areas in Beaufort, Camden, Chowan, Craven, Jones, Pasquotank, Perquimans, Tyrell & Washington Counties


Western Coastal areas of Brunswick, Carteret, New Hanover, Onslow & Pender Counties. Western Coastal area zip codes: 28401, 28402, 28420, 28421, 28425, 28429, 28435, 28436, 28447, 28448, 28451, 28452, 28454, 28456, 28457, 28466, 28478, 28479, 28518, 28521, 28540, 28541, 28542, 28543, 28544, 28545, 28546, 28547, 28555, 28574, 28582


Gates and Hertford Counties


Bertie, Greene, Martin, Pitt, and Wayne Counties


Duplin and Lenoir Counties


Columbus County


Edgecombe and Wilson Counties


Cumberland and Sampson Counties


Bladen and Robeson Counties


Franklin, Halifax, Johnston, Nash, and Northampton Counties


Harnett, Hoke, and Scotland Counties


Granville, Person, Vance, and Warren Counties


Cities of Durham and Raleigh. Durham and Wake Counties


Chatham and Orange Counties


Lee and Moore Counties


Anson, Montgomery, and Richmond Counties


Cities of Greensboro and Winston-Salem. Alamance, Davie, Caswell, Forsyth, Guilford, Rockingham, Stokes, and Surry Counties


Cabarrus, Davidson, Randolph and Rowan Counties


Yadkin County


City of Charlotte. Alexander, Iredell, Mecklenburg, Stanly, Wilkes and Union Counties


Cleveland, Gaston Lincoln, and Rutherford Counties


Alleghany, Ashe, Buncombe, Burke, Caldwell, Catawba, Henderson, McDowell, Polk, Watauga, and Yancey Counties


Avery and Mitchell Counties


Haywood, Madison, Swain, and Transylvania Counties


Cherokee, Clay, Graham, Jackson, and Macon Counties


Public Comment Period

A critical aspect of this process is the public comment period, allowing voices to be heard until February 2. There are several ways to participate. Here are the exact details of how to get involved:

  • A public comment forum will be held to listen to public input on the North Carolina Rate Bureau’s rate increase request at the North Carolina Department of Insurance’s Jim Long Hearing Room on Jan. 22 from 10 a.m. to 4:30 p.m.  The Jim Long Hearing Room is in the Albemarle Building, 325 N. Salisbury St., Raleigh, N.C. 27603.

  • A virtual public comment forum will be held simultaneously with the in-person forum on Jan. 22 from 10 a.m. to 4:30 p.m.  The link to this virtual forum will be:

  • Emailed public comments should be sent by Feb. 2 to:

  • Written public comments must be received by Kimberly W. Pearce, Paralegal III, by Feb. 2 and addressed to 1201 Mail Service Center, Raleigh, N.C. 27699-1201.

Role of Real Estate Professionals

As real estate professionals, this is a pivotal moment to advocate for your community. Engaging in the public comment process not only helps represent the interests of homeowners but also positions you as a proactive leader in the real estate community. Sharing information and advocacy efforts with your network can enhance your visibility and serve as a powerful tool for lead generation.

The proposed rate hike is a matter of concern for all stakeholders in the real estate industry. As real estate professionals, our participation in the public comment period is crucial. It's an opportunity to stand up for fair insurance rates and to demonstrate your commitment to the communities you serve.

Let us know in the comments or an upcoming CE class how you plan to get involved!


North Carolina Department of Insurance. (2024). 'Insurance Companies Ask for 42.2% Rate Increase for Homeowners’ Insurance.' [Online].

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