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Auto insurance companies asking to raise rates

Posted June 27, 2008

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— A hearing that begins Monday will give an opportunity for the North Carolina Rate Bureau, the insurance industry's organization, to argue for its request to raise auto-insurance rates by a statewide average of 13 percent.

State Insurance Commissioner Jim Long will preside over the session and will decide if auto-insurance companies can raise rates. The hearing is expected to last between four and six weeks.

State Department of Insurance officials said they will fight the increase, calling it "excessive" and "unjustifiable." DOI claims that its regulation of auto-insurance rates has saved North Carolin drivers more than $5 billion over the past 14 years.

The Rate Bureau can appeal Long's decision in the courts if it disagrees.

North Carolina has the sixth-lowest auto insurance rates in the country.

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  • davidgnews Jun 27, 2008

    mfalesana - the status-quo does everything possible to block people like Paul and others that try to make a real change.

    Gonna take more than that at this point. Even our 'rights' to do so are diminishing. Pay me now, or pay me later !

  • mfalesana Jun 27, 2008

    We do need another revolution. And we sort of have one starting to get together and slowly people are waking up and realizing what is going on and that we need to take our country back and make it great again. Check out Ron Paul. He has some good plans for america and very good ideals.

  • Tired_of_LIBERALS Jun 27, 2008

    They dont want to hear those statistics.

  • bushretard Jun 27, 2008

    What excuse are the Insurco's using? Less miles are being driven due to gas prices, so less wrecks and injuries should occur.

  • highergame4me Jun 27, 2008

    Heh everybody, I don't post opinions much either, but why don't we do like the "smart" folks. Lets just sit on our cracks and let the government foot all of our bills and give us some money so we can go buy those real expensive cuts of meat at the grocery store and not worry about a darn thing :)

  • davidgnews Jun 27, 2008

    silverflash - if only there was a revolution.

    Sadly, that's what it would take at this point for us to get our country back.

  • silverflash Jun 27, 2008

    i fear once long gets out, someone not as good or completely the opposite will get "elected" and then insurance will skyrocket. this stinks..... gas up. food up. everything up up up. except pay! well there was one revolution in 1776. There can always be another if things get bad enough. We are the people. Government is for US not for itself.

  • Pack1966 Jun 27, 2008

    So it starts with high gas prices while gas company execs are lining their fat little pockets with more money than they'll ever spend in 10 life times. Then it moves to higher groceries; then Mr. $4000 an hour Progress Energy CEO wants to increase our rates. The Wake Co. Commissioners think it better to raise property taxes than cut fat from the budget (and yes, there IS fat!). Increases, increases, and more increases in expenses and yet all our salaries stay flat-if we're lucky. I know plenty who are losing their jobs and Lord help them, I guess their houses will be the next thing they lose. Any insurance companies out there hiring? Because I need to move to an an industry where there is a money windfall!

  • davidgnews Jun 27, 2008

    Great, one more lobbyist group.

    It's been past time for Tony Rand to go. He's as bad as the rest of them.

  • kmanc4s Jun 27, 2008

    If Tony Rand, state senator from Fayetteville, gets his way, the insurance companies won't have to ask anyone if they can raise their rates, they will just go ahead and do it as often and as much as they want!!

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