Carteret County and other NC coastal counties will see a 9.9 % homeowners rate increase

06 Jan

The N.C. Department of Insurance recently resolved a legal dispute with the North Carolina Rate Bureau (NCRB). The dispute revolved around the proposed 24.5% homeowners’ insurance rate increase that the N.C. Rate Bureau was requesting. The two agreed on an average rate increase of 7.9%.

The agreement was announced by Insurance Commissioner Mike Causey in a news release Nov. 23. 

“I am happy to announce that North Carolina Homeowners will save over $751 million in premium payments compared to what the NCRB had requested,” Mr. Causey said in a recent press release. “I am also glad the Department of Insurance has avoided a lengthy administrative legal battle which could have cost consumers time and money.”

The disagreement dates back to Nov. 9, 2020, when the NCRB proposed an overall statewide rate increase of 24.5 percent. Rates would vary by county with Carteret County, as well as other coastal counties seeing a roughly 25 percent increase, the highest across the state. 

Due to the new agreement, Carteret County, and other NC coastal counties will see a 9.9 percent homeowners rate increase. The western region of the state will only see a 5.9 percent increase which works out to a statewide increase of roughly 7.9 percent.

The increases will take effect on new or renewing policies on Wednesday, June 1, 2022. The agreement also stipulates that the NCRB will not request another rate increase until 2024 at the earliest. 

If you are interested in the rate increases in your particular county, check out

NC Homeowners Territories

TerritoryCounties/Cities Located in this TerritoryRate increase/decrease
110Beach areas in Currituck, Dare and Hyde Counties9.9%
120Beach areas in Brunswick, Carteret, New Hanover, Onslow
120 and Pender Counties
130Coastal areas in Currituck, Dare, Hyde and Pamlico Counties9.9%
140Eastern Coastal areas of Brunswick, Carteret, New Hanover,
140 Onslow & Pender Counties
Eastern Coastal area zip codes: 28403, 28404, 28405, 28406, 28407, 28408, 28409, 28410, 28411, 28412, 28422, 28428, 28443, 28445, 28459, 28460, 28461, 28462, 28467, 28468, 28469, 28470, 28480, 28511, 28516, 28520, 28524, 28528, 28531, 28532, 28533, 28539, 28553, 28557, 28570, 28577, 28579, 28581, 28584, 285899.9%
150Coastal areas in Beaufort, Camden, Chowan, Craven, Jones, Pasquotank, Perquimans, Tyrell & Washington Counties9.9%
160Western Coastal areas of Brunswick, Carteret, New
Hanover, Onslow & Pender Counties
 Western Coastal area zip codes: 28401, 28402, 28420, 28421, 28425, 28429, 28435, 28436, 28447, 28448, 28451, 28452, 28454, 28456, 28457, 28466, 28478, 28479, 28518, 28521, 28540, 28541, 28542, 28543, 28544, 28545, 28546, 28547, 28555, 28574, 285829.9%
170Gates and Hertford Counties9.9%
180Bertie, Greene, Martin, Pitt, and Wayne Counties9.9%
190Duplin and Lenoir Counties5.9%
200Columbus County5.9%
210Edgecombe and Wilson Counties5.9%
220Cumberland and Sampson Counties  9.9%
230Bladen and Robeson Counties5.9%
240Franklin, Halifax, Johnston, Nash, and Northampton Counties5.9%
250Harnett, Hoke, and Scotland Counties5.9%
260Granville, Person, Vance, and Warren Counties5.9%
270Durham and Wake Counties9.9%
280Chatham and Orange Counties9.9%
290Lee and Moore Counties5.9%
300Anson, Montgomery, and Richmond Counties5.9%
310Cities of Greensboro and Winston-Salem5.9%
310Caswell County5.9%
310Alamance, Forsyth, and Guilford Counties5.9%
310Davie, Rockingham, Stokes, and Surry Counties5.9%
320Davidson and Randolph Counties5.9%
320Cabarrus and Rowan Counties5.9%
330Yadkin County5.9%
340City of Charlotte9.9%
340Mecklenburg and Union Counties9.9%
340Alexander, Iredell, Stanly, and Wilkes Counties9.9%
350Gaston County5.9%
350Cleveland, Lincoln, and Rutherford Counties5.9%
360Alleghany, Ashe, Buncombe, Burke, Caldwell, Catawba, Henderson, McDowell, Polk, Watauga, and Yancey Counties5.9%
370Avery and Mitchell Counties5.9%
380Haywood, Madison, Swain, and Transylvania Counties5.9%
390Cherokee, Clay, Graham, Jackson, and Macon Counties5.9%

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