North Carolina Insurance Commissioner Mike Causey has set a May 4, 2026 hearing to review a proposed 68.3% average increase in dwelling insurance rates filed by the North Carolina Rate Bureau.
The move follows months of internal review and formal disagreement between regulators and the industry group.
Causey said his office does not support the rate filing submitted earlier this fall, which triggers a statutory process that leads directly to a public hearing. According to Causey, state law leaves little flexibility once that disagreement becomes official.
“We are not in agreement with the Rate Bureau’s proposed increases filed earlier this fall,” Causey said.
The next step, according to statute, is to set a hearing date. It is now necessary to schedule a hearing in order to work toward a resolution that will make the most financial sense for our residents and insurance companies.
Mike Causey, North Carolina Insurance Commissioner
The hearing will start at 10 a.m. in the second-floor hearing room at the Department of Insurance, located at 3200 Beechleaf Court in Raleigh. Unless regulators and the Rate Bureau reach a settlement beforehand, the proceeding will move forward as scheduled.
If the case goes through a full hearing, state law gives the insurance commissioner 45 days after its conclusion to issue a final order.
The Rate Bureau could then appeal the decision to the North Carolina Court of Appeals, and potentially take the matter to the state Supreme Court.
Negotiations between the Department of Insurance and the Rate Bureau can continue at any stage, even as the legal process runs.
The Rate Bureau filed the request on Oct. 30. It applies to dwelling insurance policies covering fire and extended perils, with rate changes varying by location across the state. If approved as submitted, most policyholders would face double-digit increases, according to filings.
This isn’t the first clash over dwelling rates. In July 2023, the Rate Bureau sought an average statewide increase of 50.6%. That proposal never reached a full hearing.
The parties settled instead, resulting in an average 8% increase that took effect on Nov. 1, 2024.
Dwelling insurance differs from standard homeowners coverage. These policies typically insure non-owner-occupied properties with no more than four units, including rental homes and investment properties where the owner does not live full time.
For many landlords, even small pricing shifts can ripple through rents and operating costs. This proposal, honestly, would be anything but small.
