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N.C. Motorists To See Reduction In Auto Insurance Rates
State Insurance Commissioner Jim Long Discusses Reduction In Auto Rates
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.
