03/22/2024
GOOD NEWS 👉drivers in North Carolina saw the smallest bump in car insurance rates, up just 5.5% over that same timeframe. That’s partially due to the state’s unique format that includes a rate bureau that submits filings on behalf of the entire industry. That bureau settled on a 4.5% average statewide increase for 2023 and another 4.5% increase in 2024.
🤞“We do expect trends to moderate on a national basis over the course of the year, particularly in the second half of 2024,” Zawacki said. “But that doesn’t mean drivers in some markets won’t continue to see rate increases.”
Car insurance rates are up almost 21% for the 12 months ended in February, according to recent Consumer Price Index data.