NC Insurance Commissioner Reports No Change for Auto Rates

A new report submitted to state regulators by the North Carolina Rating Bureau reflects no requested change in North Carolina auto insurance rates and gives insight into the buying habits of North Carolina drivers.

According to the report, more than 6.87 million liability exposures in the state were covered in 2009.

Of those more than 6.87 million exposures, around 70 percent were also covered beyond the types of coverage mandated by the state.

North Carolina FlagApproximately 73 percent were covered under medical payments plans, 70 percent had comprehensive coverage and 65 percent had collision coverage.

The report also gave insight into average costs for 2009.

By dividing the total number of premiums per coverage type by the total number of insured exposures, the average costs of the different types of auto insurance look to be about $309 for liability, $31 for medical payments coverage, $100 for comprehensive and $245 for collision.

“This represents another victory for North Carolina drivers,” commissioner Wayne Goodwin said in a prepared statement. “We already pay the eighth lowest auto insurance rates in the country—and we have a higher population than any other state in the top 10 for lowest rates. I remain committed to making sure that people aren’t overcharged for their auto insurance needs.”

About Ben Zitney
Benjamin Zitney has been covering the auto insurance industry for the past 2.5 years. Before coming to Online Auto Insurance News, he produced an extensive company history of the 30-year-old California Joint Powers Insurance Authority and worked at the Cal State Long Beach Daily Forty-Niner as a reporter, copy editor and news editor.

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