North Carolina Rate Bureau proposes 68.3% increase in dwelling insurance rates

RALEIGH, N.C. (WITN) - The North Carolina Rate Bureau has requested a 68.3% statewide increase in dwelling insurance rates over two years.

The first increase would take effect July 1st, 2026, raising average rates by 28.3%. Fire coverage would decrease by 1%, while extended coverage would increase by 35.9%. The same changes would take effect again on July 1st, 2027.

The proposal updates rates by area, revised windstorm and hail exclusion credits, revised wind mitigation credits, and changes coverage for mobile homes.

If approved by the state Department of Insurance, the new rates would apply to all new and renewal dwelling insurance policies beginning July 2026 and July 2027.