N.C. Auto Rates Drop to Ninth-Lowest in U.S.

July 31, 2003

The North Carolina Department of Insurance noted that a report released by the National Association of Insurance Commissioners (NAIC) indicates that North Carolina has the ninth lowest auto insurance rates in the nation, breaking into the top 10 after hovering in the top 15 for the past several years. Insurance Commissioner Jim Long, who approves auto insurance rates for the industry and has aggressively fought for lower rates since taking office, is pleased with the recognition.

“Not only is North Carolina now the ninth-lowest in the nation for auto insurance rates, but we are the second lowest east of the Mississippi River!” said Long. “This is a direct result of the tough stance my Department and I take against the insurance industry overcharging North Carolina drivers. If I have anything to do with it, North Carolina insurance rates will continue to be the envy of the eastern seaboard.”

The NAIC’s report, State Average Expenditures and Premiums for Personal Automobile Insurance for 2001, compares average expenditures and annual premiums for auto insurance in all 50 states and the District of Columbia.

The top 10 states with the lowest auto insurance rates are: North Dakota; South Dakota, Iowa, Idaho, Wyoming, Maine, Nebraska, Kansas, North Carolina and Montana.

Even though North Carolina remains the eleventh most populous state according to 2000 Census data, it remains in the lowest tier in terms of auto insurance rates.

Was this article valuable?

Here are more articles you may enjoy.