North Carolina Insurance Commissioner Mike Causey has set May 4, 2026, as the hearing date for the North Carolina Rate Bureau’s proposed 68.3% dwelling insurance rate increase.
“We are not in agreement with the Rate Bureau’s proposed increases filed earlier this fall,” said Commissioner Causey. “The next step, according to statute, is to set a hearing date. It is now necessary to schedule a hearing in order to work toward a resolution that will make the most financial sense for our residents and insurance companies.”
The hearing will begin at 10 a.m. in the Second Floor Hearing Room at the Department of Insurance, 3200 Beechleaf Court, Raleigh.
The hearing will be held unless the N.C. Department of Insurance and the N.C. Rate Bureau are able to negotiate a settlement before that date. State law gives the Insurance Commissioner 45 days to issue an order once the hearing concludes. Once the order is issued, the NCRB has the right to appeal the decision before the N.C. Court of Appeals. A court of appeals order could then be appealed to the N.C. Supreme Court.
The NCRB and DOI can settle the proposed rate increase at any time during litigation.
The NCRB filed the average 68.3% dwelling increase on Oct. 30. The filing covers insurance for fire and extended coverage at varying rates around the state. Under the NCRB proposal, the increases would be felt statewide with most consumers seeing a double-digit increase.
The last NCRB dwelling rate increase filing was in July 2023, when the Rate Bureau requested an average statewide 50.6% increase. The parties negotiated a settlement that resulted in an average 8% increase, which took effect Nov. 1, 2024.
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.