The rate of car insurance in North Carolina is increasing.
Officials explained why the cost of car insurance in North Carolina is rising and provided some tips on how drivers can reduce their costs.
North Carolina’s insurance commissioner Mike Causey claims that the North Carolina Rate Bureau recommended a 28% price increase for car insurance in North Carolina in February.
The proposal of the price increase for the car insurance in North Carolina, according to him, was motivated by rising costs and an increase in distracted driving.
Insurance firms are paying higher premiums as a result of inflation and an increase in accidents that total autos.
Ultimately, a rate increase of 9% over the following two years was agreed upon by the commissioner’s office and the bureau.
This year and in 2024, drivers will experience increases of 4.5% and 4.5%, respectively.
Distracted driving, using phones, and texting while driving are the top factors that are placing the greatest pressure on the rates of car insurance in North Carolina, Causey stated.
However, Causey did offer tips on how drivers may cut costs on the car insurance in North Carolina. He claimed that drivers can compare policies and choose the ones that are most suitable for them.
Drivers should be knowledgeable about their coverage, according to associate agent Jason Carter at Don Bullard Insurance.
In some cases, insurance companies also provide discounts through their mobile apps, such as Allstate’s Drivewise and Progressive’s Snapshot.
Driving apps do have some restrictions. When you download the app, it records your driving frequency and speed.
Giving just enough attention when driving, according to Carter, is the best way to save money.