NC homeowners’ insurance hike raises premiums across the state

CHARLOTTE — A homeowners’ insurance hike is now in effect in North Carolina, and the rates can vary depending on where you live.

The statewide base rate increase is 7.5%, but in Charlotte, the hike is 9%.

If your home is insured for $450,000 with a $1,000 deductible, your annual premium will jump almost $300, one expert said.

The rate hike comes as a result of a long legal dispute between the N.C. Department of Insurance and insurance companies.

In 2024, the N.C. Rate Bureau originally requested an average 42.2% increase, with proposed increases of up to 99.4% in some areas, according to the NC DOI.

ALSO READ >> Home insurers argue for a 42% average rate hike in North Carolina

“I fought for consumers and knocked them back to 7.5% increases over two years with a maximum of 35% in any territory,” Commissioner Mike Causey said. “We consider this settlement a big win for both homeowners and North Carolina.”

Another round of rate hikes is scheduled for June 2026.

VIDEO: Everyone is paying the price for stronger hurricanes