Homeowners · Settled · Docket 1584
Rate Bureau requested 42.2%; settled at 15.0% phased over two years
- Filed
- January 3, 2024
- Requested
- +42.2%
- Approved
- +15.0%
- Effective
- June 1, 2025 and June 1, 2026
Requested: Statewide average requested, with some coastal territories requested near 99%. First-pass entry — verify against the circular.
Outcome: Settlement with the Department of Insurance, phased in two steps of 7.5%, with no new rate filing permitted before June 1, 2027.
No new homeowners filing is permitted before June 1, 2027.
What this filing means
The Rate Bureau requested a 42.2% statewide average increase in January 2024, including much larger requests in coastal territories. After a public comment period and a scheduled hearing, the Department of Insurance and the Bureau settled at a 15.0% statewide average, phased as 7.5% on June 1, 2025 and 7.5% on June 1, 2026. The settlement also bars a new homeowners rate filing before June 1, 2027.
Timeline
June 1, 2026 · Took effect
Second 7.5% step takes effect
The second half of the settled increase applies to new and renewal policies written on or after this date.
June 1, 2025 · Took effect
First 7.5% step took effect
The first half of the settled increase applied to new and renewal policies written on or after this date.
November 4, 2024 · Settled
Settled at 15.0% phased over two years
The settlement set a 15.0% statewide average, applied as 7.5% in 2025 and 7.5% in 2026, and barred a new filing before June 1, 2027.
February 6, 2024 · Hearing set
Department of Insurance set the filing for hearing
The Commissioner scheduled a hearing after a public comment period drew heavy response.
January 3, 2024 · Filed
Rate Bureau filed a 42.2% homeowners request
The Rate Bureau filed for a 42.2% statewide average increase, with far larger requests in some coastal territories.
Approved change by territory
A single approved statewide average is distributed unevenly across the rate territories. This is the per-territory outcome for this filing.
| Territory | Approved | Effective | Counties |
|---|---|---|---|
| 110 — Beach Area and Ocean Front | +19.7% | June 1, 2025 | Brunswick, Carteret, Dare, New Hanover, Onslow, Pender |
| 120 — Coastal Remainder | +18.2% | June 1, 2025 | Beaufort, Camden, Chowan, Currituck, Hyde, Pamlico, Pasquotank, Perquimans and 2 more |
| 130 — Eastern Coastal Plain | +16.4% | June 1, 2025 | Bertie, Bladen, Columbus, Craven, Duplin, Gates, Greene, Hertford and 7 more |
| 140 — Northeastern Piedmont Plain | +15.1% | June 1, 2025 | Edgecombe, Franklin, Granville, Halifax, Harnett, Johnston, Nash, Vance and 2 more |
| 150 — Sandhills | +14.6% | June 1, 2025 | Anson, Chatham, Cumberland, Hoke, Lee, Montgomery, Moore, Richmond and 2 more |
| 160 — Charlotte Metro | +13.8% | June 1, 2025 | Cabarrus, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and 1 more |
| 170 — Triad | +13.2% | June 1, 2025 | Alamance, Caswell, Davidson, Davie, Forsyth, Guilford, Person, Randolph and 4 more |
| 180 — Triangle | +13.5% | June 1, 2025 | Durham, Orange, Wake |
| 190 — Foothills and Northern Mountains | +11.9% | June 1, 2025 | Alexander, Alleghany, Ashe, Avery, Burke, Caldwell, Catawba, McDowell and 4 more |
| 200 — Western Mountains | +10.8% | June 1, 2025 | Buncombe, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon and 5 more |
Documents
- SettlementDOCKET-1584-CONSENT-ORDERNCDOINCDOIDOCKET-1584-CONSENT-ORDER
- OrderDOCKET-1584-NOTICENCDOINCDOIDOCKET-1584-NOTICE
- CircularP-24-1NCRBNCRBP-24-1