N.C. Motorists To See Reduction In Auto Insurance Rates
Posted February 1, 2006 12:41 p.m. EST
RALEIGH, N.C. — North Carolina's insurance commissioner Wednesday signed an order that will save motorists on their car insurance.
Jim Long signed an order requiring a 2.5 percent reduction in private passenger auto rates, effective May 15.
The auto rate will save North Carolina motorists nearly $404 million in potential premiums, Long said.
The order comes after a hearing that began last September after the North Carolina Rate Bureau filed for a proposed 9.4 rate increase.